The primal desire of humans to remain young forever so long has groomed and nurtured a goliath of an anti-aging industry worldwide. The market for anti-aging health, and appearance products posts sanguine growth patterns for the upcoming years, backed largely by the affluent aging baby boomers with high levels of disposable incomes.
Anti-aging products market is traditionally resilient to economic cycles, given consumers' unchanging desire to look young and healthy, and the importance accorded to health, and well-being. The propensity to spend on skincare is not hugely impacted by a slowdown, rather consumer preferences during these periods tend to shift towards lower priced mass-market products.
Product effectiveness will become an important factor as consumers begin to seek visual, sensory, and functional benefits from products. Benefiting from significant investments both in terms of product innovation and marketing, worldwide market for anti-aging products has emerged into a lucrative industry churning out top dollars for market participants.
Growth in the anti-aging product categories varies by product, with least perceptible dent to be witnessed in the health maintenance segment. World market for Anti-Aging Products for Health Maintenance is dominated by the US and Europe, as stated by the recent report published by Global Industry Analysts, Inc. In the relatively less essential appearance enhancement products market, premium products are expected to take the brunt of lower consumer disposable incomes, and reduction in household wealth.
Anti-aging products that include natural, and organic ingredients such as botanical herbs, and vitamin E are rising in popularity. Market for Anti-Aging Products for Appearance Enhancement in United States is expected to be more than US$5.0 billion by 2015. Increasing consumer concerns regarding harmful skin cancer and wrinkles caused by recurrent exposure to sun is expected to lead to introduction of multipurpose products with dual benefits of moisturizing and sun protection.
Anti-Aging Products: A Global Market Report
Like any other industry, anti-aging products also contend with skepticism, and conflicting clinical research results surrounding the actual health and appearance benefits of many widely publicized compounds, and ingredients. The oncoming regulatory reformation brings with it a mixed bag of benefits and challenges.