The Global Anti-aging Supplements market is projected to grow at a CAGR of around 5.23% during the forecast period, 2023-28, cites MarkNtel Advisors in the recent research report. The factors contributing to the growth of the market are the increasing desire for a youthful appearance as people get older, this urge to be young & healthy motivates them to adopt these supplements. The evolving lifestyles & improved disposable income spiked the demand for these supplements as consumers are willing to spend on products that make them feel & look younger.
Moreover, the phenomenon of global population aging has become progressively prominent as a large segment of society finds itself in the older age bracket. This demographic transformation has led to a surge in demand for these supplements that focus on promoting healthy aging & preserve youth. Additionally, as individuals are taking a more proactive approach to managing their health, they are embracing preventive healthcare measures, such as adopting anti-aging supplements into their daily routine, to optimize their overall well-being.
Furthermore, the inclination of individuals to mimic the youthful appearance of their admired celebrities has led to an upsurge in the need for these supplements, further states the research report, “Global Anti-aging Supplements Market Analysis, 2023.”
Growing Dominance of the Collagen Segment in the Market
Based on type, the market is bifurcated into Collagen, Omega-3 Fatty acids, Antioxidants, Resveratrol, Coenzyme Q10, Vitamins, Minerals, and Others. Among them, the Collagen type dominated the market in the past years & is anticipated to hold an influential share in the forecast years as well. The improved advantages of collagen in maintaining skin health by reducing wrinkles, curing sagging, etc., are leading to its substantial adoption in the market globally. Additionally, the soaring need for natural anti-aging remedies has led to the greater adoption of collagen-based supplements, hence contributing to the rising demand for anti-aging supplements in the forthcoming years.
Pills/Capsules Supplements Form to Lead the Market
Based on the form, the market is divided into Pills/Capsules, Powder, Liquid, and Others. Among them, Pills/Capsules captured the potential share of the market in the historic years due to the ease & convenience of their intake. These forms of supplements have a longer shelf life than other dosage forms, which benefits both the manufacturer & the consumer. These supplements provide precise dosages & are easier to measure compared to others & are considered the best form for anti-aging medications. Thus, owning to the listed factors, the Anti-aging Supplements market is presumed to flourish globally in the forecast years.
Growing Aging Population in Asia-Pacific to Elevate the Demand for the Supplements
Geographically, Asia-Pacific is predicted to attain a significant share of the Global Anti-aging Supplements market in the forecast years. The market growth imputes to the rapidly increasing population in the region. According to the United Nations, the number of individuals aged around 60 & above in the APAC region is presumed to nearly triple from around 547 million in 2017 to over 1.3 billion by 2050. Thus, the rising demographic shift due to improved healthcare infrastructure has led to a growing interest of the old age population in products related to wellness. In addition to this, the surging disposable income of the residents & the rising influence of celebrity culture & social media is anticipated to contribute to significant demand for these supplements in APAC during 2023-2028.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Life Extension, The Vitamin Shoppe, Novos Labs, Vital Nutrients, GNC Holdings LLC, Nature’s Bounty, MegaFood, Natrol, HUM Nutrition, Centrum, Nature Made, New Chapter, Inc., Amway, Jeunesse Global, Herbalife Nutrition Ltd., and others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report