Anti-Aging Ingredients Market Analysis

Anti-Aging Ingredients Market Analysis

The liquid segment held the largest market share of around 79% in 2021 and is anticipated to reach over USD 1.5 billion by 2028. The rising consumer demand for anti-aging solutions along with increasing lifestyle standards & incomes among the middle-class population is the primary factor driving the anti-aging product demand, thereby propelling the use of anti-aging ingredients in liquid form. Furthermore, the growing popularity of liquid-based anti-aging products including lotions, creams, and serums will drive the demand for liquid-based anti-aging ingredients.
 

Additionally, growing awareness regarding the harmful effects of the environment, such as dust and sun, on the skin will increase the market demand. The enhanced new product development in the beauty & skincare sector will also boost the market growth.
 

The sunscreen ingredients segment held the significant market share of around 30.7% in 2021 and is anticipated to grow at a CAGR of over 8% through 2028. The increasing consumption of skincare products owing to climate change is estimated to create profitable opportunities for the sunscreen ingredients. Based on dynamic climatic conditions and personal skin types, the introduction of UV filter-based products by manufacturers will propel the sunscreen ingredient demand. Moreover, the growing awareness regarding the importance of sun protection and the development of skin cancer & diseases due to ozone layer depletion are driving the sunscreen ingredients segment expansion.
 

Increased advancements in the chemoprevention of skin cancer have been influencing the market rise of dioxybenzone. The easy addition to multiple sunscreens with a steadily growing sunscreen market assists in market inclination. Furthermore, the rising consumption of grooming products, such as after-shave, baby sunscreen, body firming lotions, and body oils, has driven the oxybenzone demand.
 

The cosmetics segment dominated the anti-aging ingredients market and is projected to grow at a CAGR of 7.8% from 2022 to 2028. The growing awareness of one's physical appearance among both young & old consumers has fueled the demand for cosmetics & anti-aging products, thereby driving the market globally. A good physical personality is a requirement that determines an individual's success in various areas of life, thereby augmenting the use of anti-aging products that can limit or delay these changes. Furthermore, the rapidly increasing youth population and increasing disposable incomes worldwide have led to the increasing demand for cosmetics, thereby driving the overall industry statistics.
 

Asia Pacific anti-aging ingredients market accounted for USD 298 million in 2021 and is anticipated to reach around USD 527 million by 2028. Growth in the Asia Pacific region is due to increasing disposable incomes and shifting consumer lifestyles. The increasing number of online retail platforms and rising health & fitness awareness are likely to create more business opportunities. Increasing focus on corporate life and rising awareness of men's grooming, specifically among the youth, are projected to boost the demand for cosmetics products, thereby driving the demand for anti-aging ingredients in this region.