Appeal of Young Look among Baby Boomers Drives Anti-aging Market

Baby boomers advancing towards retirement are determined to defy the aging process. Every year, they spend millions of dollars on face-lifts, wrinkle creams, and workout regimens in pursuit of their ‘forever young’ mindset, which cosmetic product manufacturers, cosmetic surgeons, and entrepreneurs are eager to capitalize on. Baby boomers constitute a 70-million-strong group for legions of businesses to target.
The Boomers, who grew up in America’s postwar prosperity, are regarded as a more privileged generation than any before them. From top-of-the-line incomes to widespread government subsidies for post-war education and housing, they were the wealthiest and the most physically fit generation. 

Nevertheless, often criticized for rejection of traditional values and their characterization of excessive consumerism, the boomers were a disparate lot.  The demographic group that embraced fashion in every department, self-care and looks being foremost to keep with their modernist mindset.

Health Issues and Aging Now upon Baby Boomers 

With baby boomers already in their 60s, aging and health problems have already struck upon individuals of the age group. Their impending retirement from the workforce has also weighed heavy on this demographic. Nonetheless, in true baby boomer style, this group will probably approach the state in a new way. Regardless of aging, baby boomers are emphatic upon staying in their homes and communities and not in assisted-living settings, which necessitates the usage of anti-aging products and services. 

Hence, the desire of the baby boomer generation to retain their youth is expected to be a major revenue generation channel for the anti-aging market in the coming years. As a result, the anti-aging market, which amounted to a value of US$122.3 bn in 2013, is slated to shoot up to US$191.7 bn by 2019, says a recent market study by Transparency Market Research (TMR).

TMR analysts have presented the views of the vendors of anti-aging products and the medical community about the use of anti-aging products and services:

1) Anti-aging enthusiasts assert that the use of recognized deficit-correcting treatments and oral supplements helps in the near term as well as long run with increased life expectancy. On the contrary, critics as well as the most of the medical fraternity contend that anti-aging interventions do not give desired results and may also be harmful. 

2) Mainstream organizations such as the National Institute on Aging advise consumers to be wary about possible scams due to false promises labeled on anti-aging products. Rather, the institute contends aging to be normal, which cannot be slowed or reversed with the use of pills or treatments that claim to lead to endless youth.

3) North America is the dominant market for anti-aging products and services due to a large concentration of the baby boomer population. Baby boomers constitute 44% of the U.S. population and account for 70% of the disposable income in the country, thereby accounting for a large total expenditure on aesthetics enhancing and anti-aging products.


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