The Global Anti-Wrinkle Products Market size is expected to reach $16 billion by 2028, rising at a market growth of 8.6% CAGR during the forecast period.
Anti-wrinkle products contain moisturizing substances with extra advantages. The purpose of these added components is to improve skin complexion, texture, fine lines, and wrinkles. The efficacy of these products is contingent upon the kind of skin and the active substance or ingredients.
Increasing consumer awareness of age-related skin issues, including fine lines, wrinkles, and dull skin, combined with a growing propensity to spend on treatments that assist in maintaining a young appearance, is predicted to surge the product demand during the forecasted period. In addition, the increase in the ageing population and technical improvements in the cosmetics business is anticipated to be significant growth drivers for the market.
Anti-wrinkle products are gaining popularity since they contain anti-ageing ingredients. Lack of necessary nutrients in the body, long-term exposure to ultraviolet (UV) light and pollution, dehydration, smoking, drug use, and hereditary susceptibility are the most significant causes of wrinkles. A recent shift in consumer demand for organic & natural products can be attributed to the increased interest in plant-based alternatives. Numerous manufacturers offer anti-wrinkle creams with natural components.
Among other things, skin ageing is characterized by the progressive degradation of the skin's functional qualities due to changes in the functioning of various organs and general fitness levels. As a result, the market for anti-wrinkle products has expanded due to the growing customer desire for anti-ageing solutions that reduce wrinkles, lines, blemishes, frown lines, and pigmentation swiftly.
The COVID-19 pandemic necessitated a hasty lockdown in many nations around the globe to prevent the spread of the virus, resulting in the swift shutdown of factories, stores, and other businesses. As a result, the market for non-essential goods has experienced a fast decline in demand, availability, and travel restrictions. As a result of the global shutdown, companies that manufacture skincare products were compelled to shut down their manufacturing lines due to a staff shortage. Moreover, the pandemic resulted in the shutdown of several cosmetics retailers. Hence, the market for anti-wrinkle products is significantly impacted by COVID-19 due to lengthier lockdowns and decreased anti-ageing product sales.
The proliferation of anti-wrinkle creams and gels available online is one factor that contributes to the growth of firms that sell anti-ageing products over the internet. In addition, the proliferation of online portals offering medical devices and products, such as anti-ageing products, has made it simpler for customers worldwide to acquire products after performing a price comparison and analyzing the features of the products they are interested in purchasing. As a result, market expansion throughout the forecast period will be propelled forward.
The younger generation's increasing awareness of anti-ageing products for the body and skin is boosting the anti-ageing products demand. Individuals are more willing to care for their skin due to the rise in skin issues caused by pollution, poor diet, excessive alcohol intake, etc. Demand for anti-ageing goods, including creams, lotions, gels, etc., is fueled by the growing desire of people to appear young and healthy. Several individuals select various skin care treatments and cosmetic operations to enhance their skin and appearance, minimize pigmentation, repair ultraviolet-induced damage, etc. As a result, market expansion throughout the forecast period will be propelled forward.
The products contain a combination of antioxidants & nourishing moisturizers, both of which work together to minimize the visibility of fine lines and wrinkles. In addition, the product's price is significantly higher by incorporating bio-based actives that are difficult to come by, expensive, and time-consuming to get, all of which contribute to the product's overall price. Anti-ageing treatments are equally as pricey as anti-ageing products, which may be quite a financial investment. Because of this, many individuals cannot purchase anti-ageing products because they are too expensive for them, which is a major factor that slows the expansion of the market.
On the basis of active Ingredients, the anti-wrinkle products market is segmented into Vitamin C, retinoids, hydroxy acids, citric acid, glycolic acid, lactic acid, peptides & coenzyme Q10, tea extracts, niacinamide & grape seed extracts, and others. The retinoids segment covered a considerable revenue share in the anti-wrinkle products market in 2021. Historically, these substances have been applied topically to aid in restoring sun-damaged skin and reducing wrinkles and fine lines. Retinoids lessen the appearance of fine lines & wrinkles by boosting collagen formation.
By Type, the anti-wrinkle products market is fragmented into cream, oil, lotion, serum, gel, and others. The creams segment dominated the anti-wrinkle products market with maximum revenue share in 2021. Anti-wrinkle creams aid in maintaining radiance and supply the skin with much-needed hydration. The interest in anti-wrinkle creams is mainly driven by the growing number of consumers ready to invest in products that reduce the visible signs of ageing and the increasing number of ageing populations around the world.
Based on distribution channel, the anti-wrinkle products market is bifurcated into supermarkets & hypermarkets, specialty stores, pharmacies & drugstores, and online. In 2021, the supermarkets & hypermarkets segment generated the maximum revenue share in the anti-wrinkle products market. Such stores offer substantial advantages to customers, including decreased prices on products and improved awareness of product types and variations. As a result, numerous businesses favor supermarkets & hypermarkets as their primary distribution platforms for product sales. In addition, younger consumers tend to use local retail locations and hypermarkets when purchasing skincare products.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 9.1 Billion |
| Market size forecast in 2028 | USD 16 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.6% from 2022 to 2028 |
| Number of Pages | 285 |
| Number of Table | 460 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Active Ingredients, Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the anti-wrinkle products market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2021, the Asia Pacific region led the anti-wrinkle products market by generating the largest revenue share. High per capita income improved living conditions, and the availability of innovative products through online and offline distribution channels have increased product sales in the region. In addition to technological developments, social media's expanding influence, and rising self-awareness, other reasons drive the regional market expansion.
Free Valuable Insights: Global Anti-wrinkle Products Market size to reach USD 16 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include L'Oreal Group, Shiseido Company Limited, The Procter and Gamble Company (Olay), Unilever PLC (Ren Clean Skincare), The Estée Lauder Companies, Inc., Johnson & Johnson (Neutrogena), Galderma S.A., Life Extension Foundation Buyers Club, Inc., RoC Opco LLC (Gryphon Investors) and Clarins Group SA.By Type
By Active Ingredients
By Distribution Channel
By Geography
The global Anti-wrinkle Products Market size is expected to reach $16 billion by 2028.
Wide accessibility of products at online platforms are driving the market in coming years, however, High cost of anti-wrinkle products restraints the growth of the market.
L'Oreal Group, Shiseido Company Limited, The Procter and Gamble Company (Olay), Unilever PLC (Ren Clean Skincare), The Estée Lauder Companies, Inc., Johnson & Johnson (Neutrogena), Galderma S.A., Life Extension Foundation Buyers Club, Inc., RoC Opco LLC (Gryphon Investors) and Clarins Group SA.
The expected CAGR of the Anti-wrinkle Products Market is 8.6% from 2022 to 2028.
The Vitamin C segment acquired maximum revenue share in the Global Anti-wrinkle Products Market by Active Ingredients in 2021 thereby, achieving a market value of $3.2 billion by 2028.
The Asia Pacific market dominated the Global Anti-wrinkle Products Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5.8 billion by 2028.
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