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Cover Story: Cosmeceuticals Inject Innovation Into Antiaging
By: Diana Dodson
Posted: April 2, 2008, from the April 2008 issue of GCI Magazine.
The pursuit of eternal youth has become a global preoccupation with consumers spending more and more money—and some even going to extreme lengths—in effort to turn back the clock on maturing skin. Once only found in the medicine chests of women in their 50s and 60s, antiagers are increasingly appealing to a younger audience keen to put the brakes on the aging process. Not even men are immune to the promise of eternal youth, as antiaging creams have become an important contributor to growth in the burgeoning $1.5 billion men’s skin care segment.
While the antiaging trend is a global phenomenon, the drive to maintain a youthful appearance is strongest in the affluent Western markets of North America, Western Europe and Australasia—which spent a combined $7.7 billion on wrinkle-reducing facial creams in 2007, according to Euromonitor International’s new 2008 cosmetics and toiletries database. Antiaging facial creams are also enjoying booming demand in Latin America, where consumers put a high priority on looks, and the market saw growth of 15%
in 2007 to $5.5 billion. In Brazil, more than one in every three U.S. dollars spent on skin care goes toward a facial antiager.
Eastern Europe has a relatively underdeveloped antiaging market, but as economic fortunes in the region rise, so does interest in age-delaying beauty care, and sales of facial antiagers nearly tripled 2002–2007 to $3.9 billion, according to new Euromonitor International figures.