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Women are obsessed with their looks, no doubt about it. The beauty and cosmetics market has experienced women investing huge amounts of money just to look good and young. Anti-aging is an industry that speaks for itself. With fine lines, wrinkles and pigmentation setting in as a woman start ageing, for her anti-ageing creams and treatments is the only ray of hope. The market for anti-ageing products and services is growing at a CAGR of 5.8% and is expected to touch USD 331.41 billion by 2021. What looks more promising to women and entrepreneurs is the arrival of new technologies and methods to fight ageing.
What Attracts Women?
Nobody wants to look old but how can you really stop the body clock? Ageing has been defined as a series of biochemical procedures in the body that makes a person develop many ‘imperfections of ageing’. To fight it, the market is full of products and beauty services that promise a youth that is everlasting. The obsession is so big that women invest huge amounts of money into this market, just to obtain skin that is flawless and ageless. Major trends in this industry have also led to the enormous growth of anti-ageing products and treatments. With so many new formulations, techniques, types of equipment and so much more, the attention of women has already been gained.
Growing Big!
Ageing has become a big problem not only for men and women in their thirties but also for people as young as in their twenties. Fine lines, dark spots and light wrinkles around the eye area have become common among the young generation because of the tough lifestyle and high-stress levels. There is a surge not only in the demand for products in the anti-ageing skincare range but also in hair care as grey hair can destroy a good looking face for some people. The global anti-aging market is estimated to touch USD 66.2 Billion by 2023 and will grow at CAGR of 5.7% from 2018 to 2023, as stated by ResearchAndMarkets.com report on the anti-aging industry.
Segments Being Offered
The market is wide enough to dig out a lot of opportunities for the customers and entrepreneurs. There are two segments in anti-aging that are providing the blessing of youth- products and application. The products type segment is divided among many variations, the main ones being anti-wrinkle, Anti-stretch, anti-pigmentation and acne, sun care, hair care, nourishment herbal and others. On the basis of application type, there is skin care and hair care products range.
Expert Speak
In India, Everyone is talking about whitening. Every spa and salon is offering whitening treatments. The recent survey of the international markets is talking about anti-ageing. The Global Wellness Summit has declared the upcoming turnover of anti- ageing industry as USD 699 Billion which is a quite big number and this trend is also building slowly and steadily in India as well, says Dr Rekha Chaudhari, Managing Director, JCKRC Spa Destination.
Top Brands in the Market
Some of the best global brands available in the anti-ageing market are Avon, Johnson and Johnson, Shiseido, Unilever, Estee Lauder, L’Oreal, Procter and Gamble and many others.
Conclusion
Anti-ageing products and services have proven to be a boon for many women and men. With many young people developing signs of immature ageing, the industry has been compelled to come out with products that serve this category as well. As the rate of people ageing increases, the scope for brands and the pressure to perform rises as well. With the introduction of new technologies and methods of tackling ageing, there has been innovation in the industry which has done a lot to attract the perfect set of consumers.
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