Anti-aging set to become even bigger business thanks to baby boomers

By Lucy Whitehouse

- Last updated on GMT

Related tags: Baby boomers, Baby boomer

The anti-aging sector powered through the recession relatively unscathed, and according to a new market report by Transparency Market Research, its growth looks set to continue thanks to the baby boomer generation.

According to the report, recession-proof anti-aging is the skincare segment reporting the biggest growth over the last five years, with the global market now valued at $122.3 billion.

With baby boomers (born 1946 - 1964) now turning 65 at a rate of 8,000 individuals per day, the report observes that the market is expected to grow at a CAGR of 7.8% to 2019.

Innovation in the industry

Datamonitor International Consumer Insights analyst Daniel Bone notes that manufacturers are turning to research and development to back up their products, in an effort to boost the consumer-savvy baby boomers’ trust.

“Companies are clearly investing heavily in R&D to capitalize on the high consumer interest in anti-ageing and cosmeceuticals.”

The recent development and release of several new active ingredients including Silab’s Volunage and Phytocéane’s Aquasaphir certainly offers evidence of this.

The rise of the baby boomers

Baby boomers are considered a particularly successful generation – and they’re starting to buy big in the anti-aging sector.

In 2012, the first of the baby boomers reached retirement age, and as the generation increasingly moves into this age-group, it is estimated that the anti-aging sector will grow to a value of $191.7 billion in 2019

Branching out

Other personal care segments are expected to tap into the rise of the baby boomers, according to Euromonitor International’s expert Nicole Tyrimou.

 “In North America, Australasia, Western and Eastern Europe, anti-aging is expected to only strengthen its presence within other categories​.”

Tyrimou predicts that the market will now see the rise of “a new generation of products​” which branch out from targeting wrinkles, historically the emphasis of products for Western markets.

From hair care to color cosmetics, the majority of new products are including anti-aging claims, showcasing how the anti-aging label has become a ‘must-have’ on new products’ list of multiple claims​,” she observes.

Related topics: Market Trends, Skin Care

Related news

Show more

Related products

show more

Gentle skin exfoliation with Glucono-delta-Lactone

Gentle skin exfoliation with Glucono-delta-Lactone

Jungbunzlauer | 14-Nov-2022 | Clinical Study

Jungbunzlauer’s glucono-delta-lactone (GdL) is a polyhydroxy acid known as a mild, effective exfoliating agent. Its beneficial impact was proven in a four-week...

Cosmetics Trends: Upcycling cosmetic ingredients

Cosmetics Trends: Upcycling cosmetic ingredients

Actylis – The Partner of Choice | 02-Nov-2022 | Insight Guide

Natural and plant-based ingredients are a mainstay of the cosmetics industry, and new uses for these materials continue to emerge.

Planet-friendly performance

Planet-friendly performance

Covation Bio™ PDO | 18-Oct-2022 | Technical / White Paper

Zemea® propanediol is a 100% plant-based alternative to petroleum-based glycols and glycerin. Used as a humectant in a wide range of skin care applications,...

Related suppliers

Follow us

Products

View more

Webinars