The anti-ageing market casts a wide net from professional spa and clinic treatments to wellness products, skincare and haircare. Many research reports incorporate every sector into their analysis to produce stratospheric revenue figures. But what of the categories most people think of when they hear the term anti-ageing – skincare products such as serums, moisturisers and cleansers and haircare products with thickening or colour-retention benefits.
ResearchandMarkets, the world’s largest market research store, has released a new report – The Anti-Aging Products Global Market Trajectory and Analytics Report. The authors predict that the global anti-ageing products market will reach US$47.8 billion (AU$63.7 billion) by 2027 – up from US$34.2 billion in 2020.
Anti-wrinkle products are one of the hottest sectors and are expected to record 5.7 per cent CAGR over the next five years to reach a global tally of US$19.1 billion.
The US, the world’s largest single beauty market, is also number one for anti-ageing products with revenues of US$11.6 billion in 2020. China is expected to enjoy a CAGR of 7.2 per cent to 2027 to hit sales of US$3 billion. Other top growth markets include Japan (+3.9%) and Germany (+4.7%).
Led by Australia, India and South Korea, the Asia/Pacific anti-ageing products market, excluding China and Japan, is also on the upswing and is forecast to reach revenues of US$2.6 billion by 2027.
Premium haircare was very much top-of-mind during the Covid-19 pandemic and anti-ageing products are on track for major growth, says ResearchandMarkets, notably in the US, China, Japan and Western Europe. A CAGR rate of 4.6 per cent will lift worldwide sales of US$7.5 billion by 2027 – up from US$5.5 billion in 2020.