Anti-ageing Ingredients Market: Lifestyle & Environmental Changes Driving Youth to Seek Ways of Ageing Gracefully
Anti-ageing ingredients offer a high scope for growth, especially in regions that report a large geriatric population base, notes Transparency Market Research. In a report titled “Anti-Ageing Ingredients Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”, TMR sheds light on the major factors benefitting this market and those that restrict its growth.
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One of the most significant factors fueling the market for anti-ageing ingredients is the rise in geriatric population worldwide. The U.S. Census Bureau finds that in 2011, the number of Americans over the age of 65 stood at 181.6 mn, which is expected to rise to 244.7 mn by 2018. This rise in both developing and developed countries is complemented by a growing number of people becoming aware of new anti-aging products and a surge in spending on personal care products. These factors increasingly benefit the global market for anti-ageing ingredients.
Although geriatric population emerges as the leading driving factor in this market, the growing percentage of youth is also a major growth booster. An increasing number of young adults are realizing the harmful effects of environmental changes and sedentary lifestyle on the skin and are therefore seeking ways of aging gracefully.
Thanks to strict regulations pertaining the use of safe ingredients in anti-ageing products, new technologies are being developed across the globe and the emergence of natural products with organic ingredients has taken the personal care industry by storm. However, these regulations pose several challenges for smaller players who cannot afford expensive R&D to develop alternative ingredients. Moreover, the potential side effects of anti-ageing ingredients and products do restrict their uptake.
The anti-ageing ingredients market can be geographically segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America and Europe both account for a significant share in the global market, fueled primarily by the availability of advanced technologies, high investments in R&D, and a large population base of geriatrics. Asia Pacific, on the other hand, presents immense potential on account of lucrative opportunities in countries such as China, India, South Korea, and Japan. The rising disposable incomes in these economies, the growing awareness regarding anti-aging products, and an exponential increase in aging population are some of the key factors propelling the anti-ageing ingredients market in Asia Pacific.
TMR offers a detailed evaluation of the vendor landscape, identifying the leading players and analyzing their performance through the years. VIVACY Laboratories, J&JCI, ADEKA CORPORATION, Lasons India Pvt. Ltd., DSM, Mercola Skin Care, Galderma S.A., Allergan India Private Limited, BASF, and Cargill, Inc. are some of the key companies operating in the global anti-ageing ingredients market. By nature, the market is fragmented with several players worldwide.
This highly competitive yet lucrative market is poised to expand at a healthy rate over the course of the forecast period.