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Antiaging: Beyond Wrinkles
Posted: January 8, 2007, from the January 2007 issue of GCI Magazine.
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Consumers want to look and feel beautiful inside and out. As a result, dietary supplements working in concert with topical methods and products with active ingredients producing changes to the skin are becoming popular, complementing the increased focus on lifestyle as part of the aging process. A recent Datamonitor report predicted the overall European cosmeceuticals market to grow $4.4 billion in 2009, which includes all cosmetic products containing at least one bio-active ingredient for the skin. The same report stated that 63.7% of women over the age of 50 are prepared to spend more on cosmeceuticals.
According to the latest market report from the Freedonia Group, the demand is likely to trigger an 8.7% annual increase in the market for antiaging products. A series of new and improved products that claim to offer both health maintenance and appearance-enhancing benefits to the baby boomer generation are feeding this demand. This group’s attitudes toward aging are changing rapidly, while directly affecting consumer purchasing habits.
“These individuals, who belong to one of the most affluent generations, are willing and able to pay for products that provide antiaging benefits,” stated the Freedonia Group report. Looking specifically at cosmetic products, the market for antiaging ingredients and chemicals is set to grow exponentially. The report highlights that this value-added category will be worth $4.1 billion by 2009, partially due to the increase of technology-driven and proprietary blends that form an integral part of many products’ antiaging claims. Despite conventional wisdom, which keeps many major advertisers focused on younger consumers, the boomer generation is not set in its ways when it comes to product choices, according to studies by MarketResearch.com, which show boomers are more receptive to advertising than their Gen X and Gen Y counterparts, who tend to reject marketing claims out of hand.
While marketing claims do not necessarily resonate with these younger consumers, antiaging as a preventive measure does. Younger consumers are attempting to avoid aging skin concerns through use of antiaging products. “We have so many younger clients using the formulations to ward off signs of aging,” said Ross.
For these consumers, prevention and maintenance are key components to their attitudes while purchasing antiaging products. This need to prevent instead of cure focuses on products with age-defying elements. For example, Skingenic utilizes antioxidants, such as Idebenone, green tea and lychee fruit, to provide moisture and environmental protection while delivering nutrients that improve the overall complexion. These elements combine to prevent the damage that contributes to the ills commonly attributed to aging skin, thus appealing to the younger consumer.