According to the Hamilton Spectator, affluent baby boomers intent on offsetting the ravages of time are leading a wave of anti-aging product sales worth billions of dollars. The global market for products ranging from skin renewal to brain games is already worth $160 billion a year and is expected to rise to $275 billion in 2013.
Currently focused on the new trend of edible beauty products such as collagen-infused coffee and anti-aging water to improve the skin, millions of boomers are joining celebrities like Mick Jagger and Sharon Stone in exploring how to fulfill the age-old quest for the appearance and feel of youth in their progressively mature years.
With the first wave of boomers in Canada now hitting 63, anti-aging products are projected to account for just under 20 percent of total skin care sales.
Growth in nutracosmetics – supplements that are ingested in order to change one’s external appearance – is also climbing. One of the newest developments in skin care is a little red pill, taken daily, that supposedly provides nutrients to prevent wrinkles by increasing skin elasticity.
If you’re still not yet convinced about the market potential of anti-aging products, the lineup for a recent Paris lingerie fashion show included new, anti-aging underwear, described as bras and undergarments designed with anti-wrinkle properties that help hydrate the skin. Even in men’s grooming, the fastest growing category is now anti-aging. With older men increasingly competitive with a younger generation, they have to look better.
So much for the body and complexion. What about the brain? The brain fitness market is also booming with new brain games to help boomers keep their minds sharp and boost productivity well into old age. According to a report by SharpBrains, a U.S. market research firm, the brain fitness segment – spending on games, computer programs, training systems and other anti-aging products – has the potential to grow to $5 billion by 2015. Brain maintenance will become a mainstream trend from retirement homes to gyms as boomers seek to give equal importance to cognitive fitness.
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