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Mintel Research Shows Growing Popularity of Anti-aging Products in Asia Pacific

Published on 2017-07-20. Author : SpecialChem

Asia’s aging population continues to grow at an unprecedented rate, and the beauty industry has taken notice of this shift in demographics.

Mintel Research Shows Growing Popularity of Anti-aging BPC Products in Asia Pacific
Mintel Research Shows Growing Popularity of Anti-aging
BPC Products in Asia Pacific

New research from global market intelligence agency Mintel reveals that, in 2016, over one third (37%) of global beauty and personal care (BPC) launches with anti-aging claims were launched in Asia Pacific (APAC), up from 28% in 2014.

This makes APAC the second most active region for anti-aging BPC innovation after Europe (40%), according to Mintel Global New Products Database (GNPD).

Anti-aging BPC Launches

In APAC, South Korea and Japan are leading the charge in anti-aging BPC launches, each country accounting for 23% of APAC anti-aging BPC launches respectively between 2014 and 2016, according to Mintel GNPD. Ranking third for anti-aging BPC products is China at 22%; Thailand comes in fourth at 7%, and finally, India at 6% – rounding up the list of top five Asian markets for anti-aging BPC innovation.

UK Leads Anti-aging Market

Globally, the United Kingdom (UK) takes up the largest share of the pie, accounting for 16% of the world’s BPC innovation with anti-aging claims between 2014 and 2016. Comparatively, in the same time period, South Korea and Japan each account for 8% of all global anti-aging BPC launches respectively, and China at 7%.

While the UK leads globally, Mintel GNPD reveals that anti-aging BPC innovation in the country has seen a year-on-year dip: 19% in 2014; 17% in 2015; and 12% in 2016.

Sharon Kwek, Senior Beauty and Personal Care Innovation and Insights Analyst at Mintel, said:

“Aging is a global issue, particularly in South Korea, Japan and China – countries that are most affected by a rapidly greying population. As such, it makes sense that these North Asian markets are at the forefront of anti-aging beauty within Asia Pacific. The region’s growing silver generation is opening up opportunities for beauty and personal care brands looking to capitalize on the ‘grey wave’. In Japan, beauty and personal brands are designing age-specific skincare products that are targeted towards the mature consumer, for instance.”

Early Anti-aging Trend

Meanwhile, it seems that the concept of aging has infiltrated the younger population. This has given rise to the ‘early anti-aging’ trend where younger consumers are starting to use anti-aging beauty and personal care products that act as a preventive measure against early signs of aging.

Indeed, research from Mintel reveals that as many as 30% of urban Chinese consumers aged 20-49 describe their current skin condition as showing early signs of wrinkles or lines, while 39% of Chinese females aged 20-24 report using anti-aging skincare products. In Thailand, 45% and 48% of metro male consumers aged 18 and over are concerned about the appearance of wrinkles and age spots respectively.

Sharon continued:

“An even skin tone that’s free from age spots and wrinkles has long been considered the ‘ideal’ among many in Asia. It is this quest for the ‘ideal’ that is encouraging younger Asians to use skincare products to delay and combat early signs of aging. Younger consumers are increasing their use of anti-aging products and brands can successfully appeal to this target market by offering anti-aging solutions that address the lifestyle and environmental stressors to which they are commonly exposed.”

Protection Claims

Finally, Mintel research reveals that over half (55%) of urban females in Thailand think that the environment – including pollution – plays a part in the appearance of skin. What’s more, environmental concerns have led to the addition of new protection claims within the anti-aging BPC space, particularly against pollution. According to Mintel GNPD, launches of anti-aging facial skincare products with an anti-pollution claim increased from 20% in 2015 to 35% in 2016 in APAC.

Sharon concluded:

“Anti-pollution has been a hot topic of late and the possible effects of pollution on the skin’s health – such as the acceleration of aging – are recognized by many across the world. The time is ripe for beauty and personal care brands to align with this by innovating and launching anti-aging beauty and personal care products with protection claims.”

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Source: Mintel
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