Anti-Wrinkle Products Sales to Rise through 2027; Creams & Moisturizers a Key Target Segment for Manufacturers of Anti-Wrinkle Products
Global Anti-Wrinkle Products Market: From an estimated market size of US$ 7,739.7 Mn in2018, the value sales of anti-wrinkle products are expected to reach US$ 12,841.5 Mn by 2027, with at a CAGR of 5.8%
Personal care and cosmetic products are commercially available across the globe. They are used to enhance the appearance of the skin. The growing consumer demand for more effective products, such as anti-wrinkle products that substantially beautify the skin and complexion, has increased various research and development activities as well as the development of new products in the personal care industry.
Moreover, rapid advancements in personal care products have accelerated the availability of beauty products, especially anti-aging and anti-wrinkle products. Various research studies have also witnessed a clinical movement that has boosted the offerings of anti-aging products.
Skin aging is characterised by the progressive deterioration of the functional properties of the skin owing to changes in the functioning of certain organs of the body and overall fitness levels, among others. Therefore, the growing consumer demand for products that rapidly lower the signs of aging, which include wrinkles, lines, blemishes, frown lines and pigmentation, has increased the demand for anti-wrinkle products.
In addition, the promotional strategies of various manufacturers have significantly impacted the per capita expenditure and per capita consumption of skin care products across the globe. In the recent past, it has been observed that most of the leading brands of anti-wrinkle products have started promoting their products as high quality, organic, natural, safe and highly effective.
The degree and extent of promotion is likely to increase in the near future, and, in turn, drive the global anti-wrinkle products market as well as the market of ingredients for anti-wrinkle products during the forecast period.
Moreover, the visibility of anti-wrinkle products on retail shelves plays an extremely important role in consumer buying behaviour. Anti-wrinkle products that claim to contain natural ingredients are likely to influence a large consumer group across the globe.
In developing countries, skin care products are rarely available at independent retail outlets, whereas their visibility is relatively higher in modern trade formats. With the increasing penetration of organised retail in key markets, the sales of skin care products is likely to increase, thus influencing the demand for anti-wrinkle products.
Rising adoption of skin care products in developing countries across the globe is driving the global anti-wrinkle products market
Japan is one of the largest markets for personal care products as Japanese consumers have been traditionally using skincare products since several years, and this has made Japan a competitive market for anti-wrinkle products. Consumers in Japan demand sophisticated and high-quality skincare products. Apart from this, Japan has the largest percentage of geriatric population, and 26.3% of the Japanese population was aged 65 years and above in 2015.
This percentage is likely to increase to nearly 32.0% by 2030, which is noticeably creating growth opportunities for the anti-wrinkle products market during the forecast period. Moreover, changing consumer preferences for mass products has enabled them to spend more on anti-wrinkle products. The major manufacturers of anti-wrinkle products are aggressively launching low-priced high-value anti-wrinkle products to cater to a large number of consumers.
The natural/herbal nature segment is primarily driven by increasing consumer awareness and a shift towards clean-label anti-wrinkle products
By nature, the global anti-wrinkle products market is segmented into natural/herbal, synthetic and organic. Among all the nature type segments, the natural/herbal beauty segment is estimated to account for a high value share in the anti-wrinkle products market. This segment is expected to remain dominant in the global anti-wrinkle products market during the forecast period. In the global anti-wrinkle products market, the natural/herbal segment estimated to account for a 35.7% value share in 2018, and attain a CAGR of 6.1% during the forecast period.
In the global anti-wrinkle products market, the synthetic segment is expected to be closely followed by the natural/herbal segment in terms of share and growth. In the global anti-wrinkle products market, the organic segment is expected to register a CAGR of 4.8% during the forecast period.
Manufacturers in the anti-wrinkle products market are continuously introducing new natural anti-wrinkle products owing to growing consumer concerns regarding safety, owing to which manufacturers are now adopting clean-label formulations to develop anti-wrinkle products as well as include more natural ingredients in their anti-wrinkle products.
The global anti-wrinkle products market is further segmented on the basis of end-user into men and women. Among all these end-user segments, the women segment is expected account for the largest share in terms of value in the anti-wrinkle products market.
The women segment estimated to account for 80.6% value share in 2018, and register a CAGR of 5.6% during the forecast period. However, the men segment is expected to register significant growth in the global anti-wrinkle products market during the forecast period. This segment is expected to gain 129 BPS in its market share by 2027 over 2018.
The global anti-wrinkle products market is mainly concentrated with the presence of several multinational and regional companies. The detailed profiles of companies that offer anti-wrinkle products are also included in the global anti-wrinkle products market report for the evaluation of their key product offerings, strategies and recent developments.
Some of the key players included in the global anti-wrinkle productsmarket report include Unilever; Revlon, Inc.; Procter & Gamble Co.; Oriflame Cosmetics AG; Nature Republic; Natura & Co.; Mary Kay Inc.; Lotus Herbals Limited; L'Oréal S.A.; Kao Corporation; Coty, Inc.; Colgate Palmolive Company; Clarins Group; Biomod Concepts, Inc.; Beiersdorf AG; Henkel AG; Avon Products Inc.; ARK Skincare; Alma Secret Company and Allergan PLC.
Key Segment
On the basis of product type
- creams & moisturisers
- cleansers
- other products
On the basis of nature
- natural/herbal
- synthetic
- organic
On the basis of end-user
- men
- women
On the basis of sales channel
- pharmacies
- specialty outlets
- supermarkets/hypermarkets
- convenience stores
- beauty stores
- e-retailers
- others
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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