Global Anti-Aging Ingredients Market size worth USD 1.5 Billion by 2027
Published Date: January 27, 2021 Authors: Kunal Ahuja, Harneet Mehar
According to a new research report by Global Market Insights, Inc., the global Anti-Aging Ingredients Market size is set to surpass USD 1.5 billion by 2027.
Increasing consumer awareness, growing need for looking younger along with an increase in the spending capacity of consumers is expected to fuel the demand for anti-aging ingredients. The rising consumer demand for superior make-up and cosmetic products is expected to further boost the anti-aging ingredients market growth for anti-aging ingredients.
Rising inclination towards beauty & hygiene to drive the anti-aging ingredients nutraceuticals market:
The nutraceuticals application segment was estimated at USD 1.14 billion in 2020 and is expected to grow at a CAGR of above 7% during the forecast period. Factors such as growing awareness among consumers regarding nutraceutical ingredients; increasing health literacy; and rising consumer disposable income are attributing to the market growth of the anti-aging nutraceutical segment. Additionally, nutraceutical ingredients derived from oral dietary components have several medical and health benefits. Nutraceutical ingredients also aid in combating the process of aging by preventing skin roughness, skin elasticity & wrinkling, and pigmentation change.
Browse key industry insights spread across 250 pages with 326 market data tables and 21 figures & charts from the report, “Global Anti-Aging Ingredients Market By Form (Liquid & Powder), By Product (Chemical Peels [Hydroxy Acid, Retinoic Acid Peel], Sunscreen Ingredients [Titanium Dioxide, Zinc Oxide, Oxybenzone, Dioxybenzone], Peptides, Hyaluronic Acid, Anti-Oxidants, Retinol, Niacinamide), By Applications (Cosmetics and Nutraceuticals) Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/anti-aging-ingredients-market
Health benefits related to collagen peptides and growing health consciousness to drive the anti-aging ingredients peptide business:
The peptide segment was estimated at USD 56.38 million in 2020 and is expected to grow at a CAGR of above 7.5% during the forecast period. Peptides are a natural source of protein and aid in protecting the skin from UV radiations. Collagen peptides prevent aging by stimulating new collagen growth; promoting collagen production; relaxing wrinkles; and increasing the elasticity and firmness of the skin.
The above-mentioned factors are expected to drive the growth of anti-aging ingredients market segment. Additionally, peptides minimize the occurrence of certain disorders such as osteoporosis, rheumatoid arthritis, juvenile blindness, cancer and can be easily consumed through capsules and pills. The growing healthcare awareness among consumers is estimated to boost the market growth during the forecast period.
Positive effects on skin surface to drive the anti-aging hyaluronic acid market size:
The anti-aging ingredients market share from hyaluronic acid was estimated at USD 273.67 million in 2020 and is expected to grow at a CAGR of above 7% during the stipulated timeframe. Hyaluronic acid is a naturally occurring sugar found within the human body, is very inert, and doesn’t cause any sort of skin complications. It moisturizes and plumps up the skin and aids in filling the fine lines in order to combat aging.
Hyaluronic acid acts like a sponge, drawing water to and then trapping it in the skin. Owing to positive effects on skin and reduction in skin aging, it can be deduced that anti-aging hyaluronic market size will grow positively during the forecast period.
Rising urbanization and growing cosmetic industry to drive the anti-aging ingredients market in Asia Pacific region:
The anti-aging ingredient market size in Asia Pacific region was estimated at USD 303.28 million in 2020 and is expected to grow at a rate of above 7.5% CAGR during the forecast period. Rising urbanization; increasing awareness regarding anti-aging products; changing consumer lifestyles; and enhanced purchasing power are some of the major factors impacting the growth of anti-aging ingredients market during the stipulated timeframe.
The growing cosmetic industry in the region is also a key factor attributing to the market growth. For instance, Asia Pacific cosmetic pigment market is expected to surpass USD 140 billion by 2024. Growing population; increasing working woman population along with mounting demand for men's grooming specifically among the youth is projected to boost the demand of anti-aging ingredients, thereby driving the market growth in the region.
Major players are adopting inorganic growth strategies such as mergers and acquisitions and are focusing on new product development to sustain their position in the increasing market competition. The major players in the anti-aging ingredients industry include Dow Chemical Company, BASF SE, Lonza Group, Evonik Industries AG, DSM NV, Bayer AG, Kerry Inc, Adeka, Allergan, Clariant AG, Wacker Chemie, Cargill Incorporated, Croda International, Pfizer, and Novartis.