Anti-Aging Ingredients Market size is set to exceed USD 1.93 billion by 2028, according to a new research report by Global Market Insights Inc.
Anti-aging ingredients are formulations that are mostly used in cosmetics to reduce or prevent skin aging. They rejuvenate the skin by repairing damaged skin cells, protecting it from sun exposure, and providing appropriate hydration. These ingredients are also used in nutraceuticals on account of their improved nutritional profiles and functional properties.
The rising geriatric population along with an increasing number of cosmetic procedures and increasing spending on cosmetic products aimed at reducing fine lines & wrinkles has led to the introduction of efficient and safe anti-aging services & products in the market. An estimated 90% of skin aging is caused by the sun. Daily usage of sunscreen with an SPF of 15 or higher reduces skin aging by 24% compared to individuals who do not use sunscreen. Sun damage is cumulative. Only roughly 23% of lifetime exposure occurs before the age of 18. The growing UV exposure in the U.S. is likely to boost the anti-aging ingredients market forecasts.
The high penetration rate of global brands, escalating demand for make-up products, growth in the working women population, and an increasing number of beauty clinics are supporting the U.S. cosmetics market expansion, thus driving the demand for cosmetic preservatives in this region. The growing demand for multifunctional and natural anti-aging ingredients will foster the business landscape.
Browse key industry insights spread across 300 pages with 225 market data tables & 22 figures & charts from the report, “Anti-Aging Ingredients Market Size, By Form (Liquid, Powder), By Product (Chemical Peels [Hydroxy Acid, Retinoic Acid Peel], Sunscreen Ingredients [Titanium Dioxide, Zinc Oxide, Oxybenzone, Dioxybenzone], Peptides, Hyaluronic Acid, Antioxidants, Retinol, Niacinamide), By Application (Cosmetics, Nutraceuticals), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022-2028”, in detail along with the table of contents:
Surging demand for powder-based ingredients will foster the industry outlook
The powder segment accounted for 21% revenue share in 2021 and is projected to grow at a CAGR of 8.1% through 2028. Ingredients available in dry/dehydrated form, also known as powder-based anti-aging ingredients, disrupt the skin aging process, prevent wrinkle formation, and impart glow for a rather better presentable skin structure. The increased consumer spending on new & premium products and the rising urbanization have accelerated the market progression. The increased consumer buying preference through digital platforms has displayed a major push in the overall market.
Rising demand for anti-aging ingredients in chemical peels will accelerate the overall market statistics
Anti-aging ingredients market from chemical peels segment surpassed USD 42 million in 2021 and is predicted to reach USD 77 million by 2028. This is attributed to the increasing focus on skin care products on account of rising pollution and skin problems across the globe. Chemical peel demand is likely to rise over the forecast period as people become more aware of the health benefits of chemical peels such as the elimination of age spots, acne, wrinkles, and scars.
Nutraceuticals segment accounts for a considerable market share
The nutraceuticals segment will hold a considerable share in the anti-aging ingredients market during the analysis period. The rising consumer interest in the skincare development with the use of various pills and lotions to prevent internal damage will fuel the industry expansion. The dominance of major skincare companies focusing on the production and promotion of nutraceutical products for skincare will augment the market revenue.
North America to exhibit steady growth during the forecast period
North America anti-aging ingredients market exceeded USD 307 million in 2021 and is anticipated to cross USD 516 million by 2028. This is owing to the surging demand for skin care products and sunscreen. The growing demand for man grooming products, increased aesthetic concerns, and a desire for beauty will support the regional market growth.
Some of the key players in the anti-aging ingredients industry include Adeka Corporation, Unilever PLC, Contipro A.S., BioThrive Sciences, SHISEIDO, Kao Corporation, BASF SE, Dow Chemical Company, Croda International PLC, Wacker Chemie AG, and Lonza Group AG.