In APAC, South Korea and Japan are leading the charge in anti-ageing BPC launches, each country accounting for 23% of APAC anti-ageing BPC launches respectively between 2014 and 2016, according to Mintel GNPD. Ranking third for anti-ageing BPC products is China at 22%; Thailand comes in fourth at 7%, and finally, India at 6% – rounding up the list of top five Asian markets for anti-ageing BPC innovation.
Globally, the United Kingdom (UK) takes up the largest share of the pie, accounting for 16% of the world’s BPC innovation with anti-ageing claims between 2014 and 2016. Comparatively, in the same time period, South Korea and Japan each account for 8% of all global anti-ageing BPC launches respectively, and China at 7%. While the UK leads globally, Mintel GNPD reveals that anti-ageing BPC innovation in the country has seen a year-on-year dip: 19% in 2014; 17% in 2015; and 12% in 2016.
“Aging is a global issue, particularly in South Korea, Japan and China – countries that are most affected by a rapidly greying population. As such, it makes sense that these North Asian markets are at the forefront of anti-aging beauty within Asia Pacific,” said Sharon Kwek, senior beauty and personal care Innovation and insights Analyst at Mintel. “The region’s growing silver generation is opening up opportunities for beauty and personal care brands looking to capitalize on the ‘grey wave’. In Japan, beauty and personal brands are designing age-specific skincare products that are targeted towards the mature consumer, for instance.”
Meanwhile, it seems that the concept of ageing has infiltrated the younger population. This has given rise to the ‘early anti-aging’ trend where younger consumers are starting to use anti-aging beauty and personal care products that act as a preventive measure against early signs of aging.
Indeed, research from Mintel reveals that as many as 30% of urban Chinese consumers aged 20-49 describe their current skin condition as showing early signs of wrinkles or lines, while 39% of Chinese females aged 20-24 report using anti-ageing skincare products. In Thailand, 45% and 48% of metro male consumers aged 18 and over are concerned about the appearance of wrinkles and age spots respectively.