THE GLOBAL QUEST FOR THE FOUNTAIN OF YOUTH
The romanticized myth of the ‘Fountain of Youth’ has endured for centuries and it helps serve as a powerful reminder about the strong desire among the masses to maintain or restore their youthful appearance well into their advanced years. Instead of magical waters that can literally turn men back into boys or old ladies to youthful maidens, the “magic” now comes in the form of scientifically researched and developed formulations that specifically target the issues that can lead to the appearance of aged and weathered skin. Imagine if you could present these individuals who are looking for the figurative “Fountain of Youth” with an effective means to fight the visible signs of aging… But how large really is this anti-aging skin care industry and which direction is it headed? Who buys these types of products? And what products are they looking for?
WHO HAS BEEN DRIVING THIS INDUSTRY GROWTH?
Over the last few years, anti-aging product solutions have been steadily rising in popularity in the US (as well as worldwide – more on that in a bit) due in part to the roughly 76 million individuals from the Baby Boomer era reaching retirement age at a rate of about 8,000 individuals per day! People from this large generational segment are now more healthy and active into their advanced years and not only do they continue to care about their appearance but they have the disposable income to continue to stimulate the market for years to come.
In addition to the increasing demand annually in coastal/warm weather areas like San Francisco, Los Angeles, and Miami (where increased exposure to the sun results in the willingness to pay a premium for a wrinkle control solution), there is also more demand in more centrally located areas as well; with markets in Philadelphia, NY, and Washington DC not too far behind. This continued uptrend across the board is a good indicator of the increased awareness of the importance taking good care of your skin among the population in general.
GLOBAL INTEREST AT A GLANCE
The global scene is huge and is also showing continued growth year over year. Some market researchers have shown that the global skin care industry will reach $121 billion in 2016 and is projected to continue it’s growth to an estimated $191 billion by 2019! This upward trend is unlikely to change across the whole spectrum of product types, for body, face, eyes, and hair as more faith is being invested into the effectiveness of these products.
WHAT PRODUCTS ARE THEY ASKING FOR?
In order to effectively cater to this lucrative and informed market segment, you’ll need to be able to identify and deliver the products they want along with the information necessary to back up the results. The average consumer is much more research savvy than previous generations who may have fallen victim to horribly inaccurate product claims made by huge, popular brands just a few short decades ago…
The skin care products that the market is actively searching for include rejuvenating moisturizer creams and serums, solutions for “crows feet” and dark circles around the eye areas, serums that help even out skin tone appearance (minimizing age spots and reducing the appearance of stretch marks), cleansers & toners, hair coloration products and UV absorbers – just to name a few of the most popular. It’s also key to note that there is also a strong consumer preference for more natural-based formulations as well.
High end, age-defying product formulations should have an equally high-end packaging appearance to match – the higher perceived value of the product will lead to increased consumer confidence on a first time purchase.
TOP 5 REASONS FOR THE SKIN CARE INDUSTRY’S EXPLOSIVE GROWTH
- The overall global population is becoming older in developed countries
- There is increased wealth in existing & emerging markets resulting in more disposable income
- The global desire to attain “agelessness”
- Increased consumer confidence in age-defying skin care products.
- Safer, more affordable & less invasive alternative to plastic surgery.
The call for age-defying products is only going to continue its explosive growth in the years to come. Just as the legend of the fountain of youth spread through the Americas, word of mouth on effective skin care product solutions means that more and more people are hearing about quality products that really work, securing continued consumer confidence in this lucrative, globally spanning industry.
PrivateLabelSkin offers a comprehensive selection of skin care products featuring clinically-backed active ingredients, elegant packaging types, unparalleled service options and account management, as well as consistently fast turn around times – so if you want to provide your customers with the path to the modern day ‘Fountain of Youth’, make sure it’s with a manufacturer who knows how to get you there.