February 26, 2009
A new report from market research firm Mintel finds Americans are pouring more money into the fountain of youth known as anti-aging skincare.
During 2008, sales of anti-aging skincare products rose to over $1.6 billion. In fact, anti-aging sales have surpassed sales of facial cleansers, which garnered nearly $570 million last year.
The market for anti-aging skincare has grown rapidly over the past couple years. US sales rose 13 percent from 2006 to 2008, outpacing general facial skincare sales, which grew less than 11 percent. Mintel expects the market to remain robust over the next five years, growing some 20 percent through 2013.
"Anti-aging won't fall to the recession," said Kat Fay, senior beauty and personal care product analyst at Mintel. "Looking young is extremely important to many women, especially Baby Boomers, and it's not an issue they're willing to compromise on because of tightened budgets. Many women see anti-aging skincare as a reasonably priced investment in their appearance and well-being."
According to Mintel's Global New Products Database, nearly a third of US facial skincare product launches tracked in 2008 boasted anti-aging claims. Globally, one in four included such claims.
"Manufacturers see the growing demand for anti-aging benefits and they're responding accordingly with a constant flow of new products. The latest launches are more detailed and scientific in their claims, ingredients and projected benefits," said Fay.
Mintel Beauty Innovation, which monitors new beauty and personal care product launches globally, has seen recent advancements in the science and marketing of anti-aging skincare.
Sirtuins are a new area of activity: these naturally occurring enzymes are thought to boost cell longevity and therefore, provide anti-aging benefits.
For example, Natura Biss's premium skincare product, The Cure, contains peptides that modulate sirtuins. It claims to prevent premature aging and wrinkles. Este Lauder's new Time Zone Line and Wrinkle Reducing Creme likewise boasts "Sirtuin EX1 Technology" and claims to stimulate proteins for a more youthful look.