Happi Staff09.08.20
The global anti-aging market size is expected to reach $29.8 billion by 2027 according to a new study by Polaris Market Research. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Beauty and skin health is considered one of the prominent factors that represents overall perception of health and well-being in consumers. Anti-aging products and treatments help combat the consumer skin by masking, preventing and reducing signs of aging.
The prominent factors favoring the market growth include rise in aging population, globally. As per the statistics published in 2019 by the United Nations, through its World Population Prospects Working Group, by 2050, there would be 1 in 6 old age people (over 65 years), as compared to 1 in 11 in 2019. This old age group accounts for one fifth of the total population in 17 countries, and it is projected to be increased by the end of this century in 155 countries, covering 61% of the global population. This is mainly due to increase in life expectancy and declining fertility rates among the people.
In 2019, there were around 703 million aged over 65. Eastern and South East Asia accounted for the largest share of around 260 million, followed by Europe and North America with over 200 million. It is projected that in South Asia the biggest increase in old age would be seen in South Korea, Taiwan, and Singapore.
Signs of aged skin becomes gradually noticeable and is associated with loss of elasticity, loss of volume, appearance of wrinkles and fine lines. Rising consciousness among the populace regarding younger looking skin is furthermore surging the overall demand for anti-aging products and treatments, and thereby enhances the market growth.
Market participants such as Estée Lauder Companies Inc., Avon Products Inc., Procter & Gamble Co., and many other beauty brands are key players operating in the global market.
More info: www.polarismarketresearch.com/industry-analysis/anti-aging-market
Beauty and skin health is considered one of the prominent factors that represents overall perception of health and well-being in consumers. Anti-aging products and treatments help combat the consumer skin by masking, preventing and reducing signs of aging.
The prominent factors favoring the market growth include rise in aging population, globally. As per the statistics published in 2019 by the United Nations, through its World Population Prospects Working Group, by 2050, there would be 1 in 6 old age people (over 65 years), as compared to 1 in 11 in 2019. This old age group accounts for one fifth of the total population in 17 countries, and it is projected to be increased by the end of this century in 155 countries, covering 61% of the global population. This is mainly due to increase in life expectancy and declining fertility rates among the people.
In 2019, there were around 703 million aged over 65. Eastern and South East Asia accounted for the largest share of around 260 million, followed by Europe and North America with over 200 million. It is projected that in South Asia the biggest increase in old age would be seen in South Korea, Taiwan, and Singapore.
Signs of aged skin becomes gradually noticeable and is associated with loss of elasticity, loss of volume, appearance of wrinkles and fine lines. Rising consciousness among the populace regarding younger looking skin is furthermore surging the overall demand for anti-aging products and treatments, and thereby enhances the market growth.
Market participants such as Estée Lauder Companies Inc., Avon Products Inc., Procter & Gamble Co., and many other beauty brands are key players operating in the global market.
More info: www.polarismarketresearch.com/industry-analysis/anti-aging-market
