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Anti-Aging Ingredients Market to Hit $1.5 Billion by 2027

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Growing consciousness among people regarding their appearance and the urge of looking younger is the key factors driving the anti-aging ingredients market.

Global Market Insights Inc. has published a market report on the Anti-Aging Ingredients Market size, which is estimated at $1.14 billion in 2020 and is estimated to surpass $1.5 billion by 2027, registering a compound annual growth rate (CAGR) of 7.5% from the forecasted period of 2021 to 2027.

The market report looks into ingredients that play a role in this market such as niacinamide, retinol and antioxidants. 

Niacinamide applications segment was estimated at $4.64 million in 2020 and is expected to grow at a CAGR of above 6.5% during the forecast period. The known benefits such as skin brightening and combating unwanted pigmentation, are factors expected to drive the anti-aging ingredients market share during the forecast period.

Retinol application segment was estimated at $24.37 million in 2020 and is expected to grow at a CAGR of above 6.5% during the forecast period.

The anti-aging ingredients market from antioxidants application was estimated to be $388.72 million in 2020 and is expected to grow at a CAGR of above 7% during the forecast period. Major antioxidants include acai oil, caffeine, green tea extract, alpha-lipoic acid, alpha-hydroxy acid, and salicylic acid.

North America holds a substantial share in the global anti-aging ingredients market and is expected to grow at a significant rate during the forecast period. The increase demand for sunscreen, skin care products, and rising concern regarding aesthetics among people are the major factors attributing to the market growth in the region.