Currently the anti-aging market is getting bigger to fit in miscellaneous consumer apprehensions. Wrinkles are no longer measured as the only signal of aging. Hyperpigmentation, age spots, dry skin, dark under eye circles, uneven skin tone, and even hair damage are now exceeding lists of anti-aging anxieties amongst customers. Globally, the value sales are predicted to surpass US$131 billion in 2019. Skin care will remain cosmetic market’s biggest set adding some US$20.1 billion to its value over 2014- 2019. With this level of projected growth, it is no wonder that cosmetics and personal care brands, makers and dealers globally are carefully observing buyer trends for a piece of the market.
The demand for beauty skin care products is principally influenced by the topographies. For example, the users in Asia Pacific have a more liking towards skin brightening and lightening products, anti-aging emulsions have superior demand in North America and Europe. Higher demand for sun guard products has been observed from buyers in the tropical countries like Brazil and Mexico.
A swelling number of buyers have been adding toward the demand for anti-aging creams and skin care products to combat countless signs of aging. The increasing global elderly population, consequently, is one of the significant aspects boosting the global market for cosmetic skin care. The crucial factors contributing to the broadening consumer base of anti-aging creams and skin care products are the rising global geriatric population and the increasing disposable income. Also, the consumer interest in purchasing anti-aging skin care products has increased. The number of people aged 65 and above has been allegedly growing in Germany, China, Italy, Japan, and the US and this tendency is expected to profit the demand for cosmetic skin care products. The rapid growth of elderly population, in these developed economies is likely to leave a huge effect on the growth of the global cosmetic skin care market.
Correspondingly, the altering environmental circumstances which have directed premature aging of the skin has amplified the consumer awareness in buying anti-aging skin care products. Fascinatingly, the demand for anti-aging products is not limited only to the aging customer base. Ladies over the age of 30 have also been contributing meaningfully to the demand for anti-aging creams and lotions, therefore, boosting the growth of the global skin care products market.
A rising emphasis on new product invention and an enhancement in the quality and functions of numerous cosmetic skin care products is a crucial element enhancing the global market. New product innovation rules the cosmetic skin care market. The ever-changing importance towards innovation of new product and quality and purposeful upgrading of prevailing cosmetic skin care products is slated to lift the growth of the global skin care products market. The global skin care products market has a large number of local dealers and multi-national companies. Invention becomes the important aspect in sustaining the market. A growing number of market players have been devoting huge capital in research and development to advance the efficiency of products such as anti-aging creams, , sunscreen products, skin whitening cosmetics, and multi-utility skin care products.
Recently, a growing number of makers have started manufacturing cosmetics that provide various benefits through a single product. Usually known as multi-utility skin care cosmetics, these cosmetics are gaining acceptance at a high frequency and are expected to maintain the global market on the growth trajectory.