Introduction of Multi-functional Products to Drive Popularity of Anti-aging and Anti-wrinkle Products Market
In recent time, consumers have been demanding a single solution for all skin troubles, which is influencing manufacturers to produce multi-functional products.
The introduction of beauty balm (BB) and colour correction (CC) creams with enhanced properties, such as skin treatment, skin repair, moisture control, and sun protection, will strengthen the sales of anti-aging and anti-wrinkle products during the forecast period (2020-2027).
The importance of labels will be paramount, as skincare products boasting clean labels are projected to influence the purchasing decisions of consumers. In addition, the popularity of premium and branded products will continue to grow in the anti-aging and anti-wrinkle products market, as consumers tend to incline towards quality skincare products.
Due to the positive impact of the aforementioned trends, the anti-aging and anti-wrinkle products market is estimated to record a value tantamount to ~US$ 14 Bn by 2027.
Side Effects Associated with Use of Skincare Products to Impede Market Growth
The popularity of chemical-based anti-aging and anti-wrinkle products is projected to lose sheen, as consumers are demanding natural and organic skincare products.
This is attributable to several cases that have brought to light the side effects of these products. Sensitivity to these products could lead to reactions ranging from mild erythema to allergic contact dermatitis.
The use of high doses of chemical content in cosmetic skincare products could increase the risk of skin allergies, which is projected to limit sales opportunities for players in the anti-aging and anti-wrinkle products market.
Key Marketing Strategies Adopted by Market Players
To gain a competitive edge in the anti-aging and anti-wrinkle products market, manufacturers are relying on effective brand communication in order to disseminate education about products.
As the choices of key public figures are found to have an influence on the purchasing behaviour of consumers, manufacturers are seen collaborating with celebrities to implement brand endorsement strategies.
Besides this, the purchasing behaviour of modern consumers highly relies on the ingredients used for production. On the backdrop of the growing importance of labels, manufacturers are using powerful keywords such as instant, quick fix, immediate, natural, and organic to attract attention of consumers.
The influence of online stores is also found to remain crucial in strengthening the sales of anti-aging and anti-wrinkle products. Manufacturers are offering discounts and deals on online purchasing of products, and the trend is likely to gain traction, as e-Commerce giants are experimenting with next- and same-day product delivery.
Rise of New Demography for Anti-aging and Anti-wrinkle Products Market
Since time immemorial, the cosmetic and personal care industry has been a female-centric one, on the backdrop of social stigma associated with colour and texture of the skin.
In addition, acne, wrinkles, black heads, and white heads are common skincare problems found more among women than men, which has led to the high sales of skincare products driven by women. However, the penetration of cosmetic products is widening in the men’s space, though at a relatively slow pace.
Men have relatively thick skin as compared to women, and the texture, in turn, depends on the secretion of sebum. To cater to the specific skincare challenges of this demography, manufacturers in the anti-aging and anti-wrinkle products market are developing skincare products with different fragrance and chemical compositions.
Along with this, they are strategically marketing their anti-aging and anti-wrinkle products through celebrity endorsements, which is projected to boost the demand for these products during the forecast period.
Avail customized purchase options for your needs
Lead of Asia Pacific Anti-aging and Anti-wrinkle Products Market Powered by China
China is a key anti-aging and anti-wrinkle products market, as the concentration of individuals between the age range of 20 years and 40 years is high. Awareness regarding skincare is high in China, especially among women, which is boosting the adoption of these products.
Besides China, density of the geriatric population is high in Japan, which is leading to an increase in the adoption of anti-aging and anti-wrinkle products.
Recent times have also witnessed the announcement of favourable export policies legislated by the governments of Japan, India, and China, which is further giving impetus to Asia Pacific’s position in the global anti-aging and anti-wrinkle products market.
Anti-aging and Anti-wrinkle Products Market – Assessment of Key Segments
Authors of the report have segmented the anti-aging and anti-wrinkle products market into key categories in order to study the market at a microscopic level. Key segments considered while bifurcating the anti-aging and anti-wrinkle products market include:
Besides laying focus on the aforementioned key segments, the report also studies the anti-aging and anti-wrinkle products market at a country level, to recalibrate the underlying opportunities available for players for the forecast period.
Among all the estimated data, the report also includes Y-o-Y growth projections, which can help market players in comprehending the precise trajectory at which the anti-aging and anti-wrinkle products market has been growing.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.