The Anti-Aging Boom Is Underway in China – happi.com
While China has historically been a country that respects and values its elders, China is in the throes of a nationwide anti-aging boom. Observers note enthusiasm for anti-aging products across all demographics. The movement is bucking an overall slowdown in growth in the post-covid beauty market. Why the demand for anti-aging products? Growing anxiety over one’s appearance on social media and a fast-growing aging population.
Fear of aging isn’t all that new. A decade ago, a state media re…….
While China has historically been a country that respects and values its elders, China is in the throes of a nationwide anti-aging boom. Observers note enthusiasm for anti-aging products across all demographics. The movement is bucking an overall slowdown in growth in the post-covid beauty market. Why the demand for anti-aging products? Growing anxiety over one’s appearance on social media and a fast-growing aging population.
Fear of aging isn’t all that new. A decade ago, a state media report revealed that Chinese are most fearful about aging. Back then I was skeptical about the findings; but, 10 years later, I’m much convinced after witnessing much market transition over recent years. For example, 20- and 30-somethings, panicked with the thought of aging use social media handles such as: “Post-00 Old Girl” and “Post-90s Old Aunt.” These women regard age prevention as a top priority. On the flip side, women ages 45 and up are eager to reverse the effects of time and refer to themselves as “Forever Young Goddess.”
Further fueling this anti-aging movement is China’s aging population, which, according to WHO, is one of the fastest growing in the world. These groups are more willing to spend time, money and efforts in looking youthful than their western counterparts, largely due to cultural and societal differences.
A Segmented Aging Market
Tapping into this macro trend, the claim of anti-aging is all over the place here, ranging from cosmetics, foods and supplements to at-home beauty devices and professional services. These services include beauty salons and related institutions offering preventative and corrective procedures like hyaluronic/botox injections and laser therapy. To meet increasingly diversified needs from different demographics, the market is also evolving and becoming more segmented.
In the cosmetic sector, the consumers already diverge between prevention of early aging and treatment of mature aging. On the former, it is the young women with the common mentality of starting anti-aging regimens as early as possible. These young women account for most online anti-aging product sales. Their enthusiasm has rejuvenated many high-end brands in China.
Women between 26 and 35 years of age, are most interested in learning anti-aging information, according to iiMedia Research. And this trend is skewing even younger. During 2020’s 618 Shopping Festival, 25% of purchasers of products claiming early aging prevention were 22 and younger, according to China’s e-commerce giant JD.
At the other end of the spectrum, older consumers are beginning to be identified as the next big group in the anti-aging cosmetics sector. It is easily understood if we look at the latest official statistics: China’s population of people over 60 years old surpassed 267 million in 2021, accounting for 18.9% of the total population. By 2030, those 60 and older account for 25.5% of the population or 330 million. And with the accelerated pace of embracing digital …….
