PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350315
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1350315
The Global Anti Ageing Products Services And Devices Market is projected to reach around US$ 429.1 Bn by the end of 2030, in terms of revenue, growing at CAGR of 7.7% during the forecast period (2023-2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 237.1 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 7.70% | 2030 Value Projection: | US$ 429.1 Bn |
Anti-ageing products and devices are products and/or services that are used to slow or reverse the normal ageing process, for one reason or another. Anti-ageing products and devices are very popular with both men (who want to look younger) and women (who want to feel younger). Anti-ageing products and devices come in different forms-they can be creams, pills, powders, lotions, facial scrubs, cosmetics, hair dyes, hair transplants and surgery. Most people choose one of the many available Anti-ageing products and devices when they are looking to make themselves look or feel better.
Increasing aging population and technological advancement in the field of anti-ageing products and services is propelling growth of the anti-ageing products, services and devices market. For instance, in June 2020, Avon, an American-British multinational cosmetics, skin care, fragrance and personal care companyhas unveiled its Anew Skin Reset Plumping Shots which helps to restore your skin to more youthful levels for a strengthened skin matrix which claims to reboost the skin in a week.
Increasing spending on anti-ageing surgical cosmetic procedures by consumers are projected to offer immense opportunities in the market over the forecast period. According to American Society of Plastic Surgeons (ASPS) in 2020, Americans spent more than US$ 16.5 billion on cosmetic plastic surgery and minimally invasive procedures in 2020, a four percent increase from 2019. Thus, increasing spending on cosmetic procedures by consumers is projected to favor the market growth in the near future.
Technological advancement in the anti-ageing devices is projected to bring new market opportunities in the near future. For instance, in January 2020, Foreo, a Swedish beauty-tech brand launched a new 'Bear' anti-ageing device with Lotte and Hyundai. Bear and Bear Mini is a combination of microcurrent and T-sonic pulsations, it firms the skin for a more youthful and contoured complexion. The microcurrent tones the skin, while T-sonic pulsations relax the facial muscle tension points and smooth the appearance of fine lines and wrinkles.