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.
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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.
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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.
Anti-aging and Anti-wrinkle Products Market - Scope of the Study
The report on the anti-aging and anti-wrinkle products market is an exclusive report published by Fact.MR, which offers actionable insights and information on the key parameters that are influencing the growth of the landscape.
This study offers insights on the growth of the anti-aging and anti-wrinkle products market, by analysing the historical data for the period of 2017 - 2019, and 2020 - 2027 as the forecast period. Estimation of the revenue of the anti-aging and anti-wrinkle products market has been carried out in terms of value (US$ Mn).
This research highlights the key trends that hold the potential to influence the growth of the anti-aging and anti-wrinkle products market, along with crucial macroeconomic and microeconomic growth indicators. This insightful report offers key dynamics, and their impact on the value chain, which are projected to influence the future growth of the anti-aging and anti-wrinkle products market.
The study also includes a detailed section dedicated to impeders that could challenge the growth of players in the anti-aging and anti-wrinkle products market.
The report unfolds lucrative opportunities for market players, which they can leverage to consolidate their position in the global market. With a view of aiding stakeholders in the anti-aging and anti-wrinkle products market, the study comprises a detailed section on the competition analysis.
The study offers a dashboard view of the report, with a comprehensive comparison of players operating in the anti-aging and anti-wrinkle products market, based on total revenue, market presence, and key developments.
Besides this, the recent developments and key strategies of players in the anti-aging and anti-wrinkle products market have also been included in this comprehensive study.
Key players profiled in this exclusive study on the anti-aging and anti-wrinkle products market include Procter & Gamble Co., PHYTOMER, Johnson & Johnson, Beiersdorf, Unilever PLC, The Estée Lauder Companies, Inc., Shiseido Company Limited, L’Oréal Paris, and ZO Skin Health, Inc.
The study provides crucial insights into the finances of these companies, along with their product portfolios, key strategies, and SWOT analysis. In addition, the study also discusses Porter’s Five Forces, which highlights the threats of substitutes, purchasing power of buyers and suppliers, and intensity of competition present in the anti-aging and anti-wrinkle products market during the forecast period (2020 - 2027).
Anti-aging and Anti-wrinkle Products Market - Research Methodology
The anti-aging and anti-wrinkle products market has been evaluated by taking a top-down and bottom-up approach.
Demand, geographical presence, distribution strategies by manufacturers, and initiatives taken by governments and NGOs are various factors considered while estimating the revenue of the anti-aging and anti-wrinkle products market, and thus, reaching global numbers.
The study on the anti-aging and anti-wrinkle products market is further validated through extensive primary research on the data extracted from exhaustive secondary research.
In order to conduct secondary research, annual company reports, company websites, data from the World Health Organization (WHO), SEC filings, press releases, investor presentations, and other similar resources were studied.
To validate the information compiled through secondary research, interviews with key opinion leaders and subject matter experts were scheduled. In addition to this, authors of the report also had email and telephonic interactions with the senior management of leading and prominent companies, to confirm the size, growth trend, and future outlook of the anti-aging and anti-wrinkle products market.
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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.
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