Baby boomers drive growth in healthy ageing skincare market

As Baby Boomers retire, their focus on health and longevity is reshaping the skincare industry, according to Mintel’s 2024 “NeuroGlow” report.

The report said that longer life expectancy has led to high demand for preventative skincare that tackles signs of ageing before they appear.

Skincare brands can capitalise on this trend by merging wellness with new technology. Recent breakthroughs, like exosome treatments for hair and skin rejuvenation, address ageing at a cellular level.

The “slow ageing” movement promotes products with powerful ingredients such as retinol, vitamin C, peptides, and ceramides, designed to improve skin vitality over time. For example, in China, 34% of consumers with sensitive skin use or are aware of retinol-based products.

Beyond skincare, the report said consumers now prioritise holistic wellness. Interest is growing in products that support both skin and mental health. In Indonesia, 67% of consumers feel better when they look good, whilst anti-stress skincare is becoming popular in Japan and South Korea.

The dermocosmetics sector, which combines cosmetics with dermatology, is growing rapidly. Mintel reported that 46% of Indian consumers now associate dermocosmetics with healthier skin. In Thailand, over half of consumers choose dermocosmetic suncare products, and dermatologically-tested launches in India have surged from 2020 to 2024.

Attitudes toward cosmetic procedures are shifting in Asia. In South Korea, half of consumers are open to non-invasive enhancements, while 47% of Chinese consumers are considering cosmetic surgery specifically for anti-ageing.

Brands are targeting younger consumers to promote early skincare habits and boost long-term skin health.

Social media remains essential for brands to connect with consumers, especially through influencer partnerships. Tapping into trends like “skin slugging” helps brands reach diverse demographics, including men.

Retail Asia