Anti-aging is the single largest product type in the global personal care market and a key growth engine for the entire industry. It has been outpacing the total beauty growth; higher priced luxury brands, which include many anti-aging products, showed the largest gain last year. The Kline study and consulting firm has carried out a study of this market in the United States in 2012.
Why is anti-aging performing so well?
• Emphasis put on youth, while population’s average age is creeping upwards
• Perception that looking attractive leads to greater opportunities
• Consumers invest in themselves to be more marketable
• Great skin is the ultimate status symbol and moves from face to the whole body
• Good ingredient stories and products with visual results
• Non-invasive procedures going mainstream
• Devices accelerate the results
• Men’s interest growing
Where do the growth opportunities lie?
Professional Skin Care – Anti-aging is the #1 skin care concern in the professional skin care market in most of the regions examined by Kline. Injectables, such as Botox, Juvederm, Perlane, and Restylane, are gaining in popularity.
Naturals – A number of some very effective natural anti-aging treatments are available now on the market. Formulators are increasingly seeking to use botanicals as substantiated functional ingredients. Natural-sourced biotechnology products are also benefitting from the naturals growth, while biotechs are crucially considered as natural by consumers and they often offer equally desirous high efficacy.
Ingredients – Ever-evolving consumer behavior is driving innovation in active ingredients. They desire to see visible results and have raised expectations for genuine efficacy of personal care products. This holds particularly true for the resiliently growing anti-aging skin care segment. Savvy personal care formulators are now marketing their products by emphasizing their active ingredients. No longer are specialty actives the preserve of women’s skin-care applications, but they are used in products as diverse as hair-care, male grooming products, slimming and sun-protection. Botanicals are the most important product category in both the United States and Europe while other hot ingredients include hyaluronic acid (molecule of youth), stem-cell related ingredients, and marine ingredients.
Consumers – Consumers are increasingly making their lifestyle choices not just about cosmetics, but also about having healthy and active lifestyle. Thus, the opportunities for anti-aging regimens exist among all age groups and both genders. With sun exposure as a prime contributor to the aging of the skin, young demographic groups show almost as much willingness to protect skin from sun as any other age group and they are ready for early prevention of photo-aging. Exploring what products consumers wish they have, Kline uncovered four major themes among over 400 responses, such as multi-functional products which would eliminate the need to apply products.
What does the future hold for anti-aging?
As consumers want to stay younger-looking, anti-aging will continue to be a growth driver for the industry, outpacing other segments and categories. Skin care technology with visible results will drive skin care segment as consumers want to see immediate results and typically don’t use products long enough for them to work. The percent of men using anti-aging products is increasing, and holds great opportunity. More at-home products and devices will take some business from salons and spas, and professional services will likely expand into more extreme treatments to lure business. Last but not least, winning brands will have intelligence about the market, suppliers, and consumers.
• Mirror, Mirror on the Wall – Looking at the Growth Opportunities in Anti-aging , Kline, October 2012, from Cosmetics & Toiletries USA analysis.