According to a study from the UN, World Population Ageing 1950-2050, the global population aged 60 and over is forecast to reach 2 billion by 2050 increasing from 606 million in 2000. By 2050, over-60s will represent 1 in 3 persons living in the developed regions, climbing to 37% in Europe. These figures reflect the growing importance of the senior population and highlight how this market potential has yet to be tapped.
Whether retired, working or in need of care, the elderly are a key consumer demographic. Beauty and personal care companies have an opportunity to provide products, services and in-store experiences that cater for a generation that has time and money to spare and still want to look their best, regardless of their age.
According to Mintel’s Global New Product Database, one in 10 beauty and personal care products launched in the first half of 2014 claimed to have anti-ageing benefits. Anti-ageing has become a must-have claim in facial skincare especially and is present in over a quarter of 2014 facial skincare launches. In comparison, haircare and colour cosmetics with anti-aging ingredients are much rarer, accounting for less than 3% of product launches in each category in 2014. Expanding the anti-ageing claim beyond skincare is one way to achieve growth, but segmenting products with more specific anti-ageing benefits offers another avenue.
The line is becoming more blurred between anti-ageing and facial skincare making the anti-ageing claim less “unique” and somewhat confusing for consumers. Moreover, the target age group for many anti-ageing beauty products tends to be too broad to fully relate to the older population, with advertising campaigns also failing to use senior role models to any significant extent.
Claims such as prevention or protection are less likely to speak to seniors, while stronger claims such as reversing the signs of ageing or repairing deep wrinkles are more likely to relate to this specific audience.
According to Mintel’s consumer research, three quarters of US anti-ageing skincare users are interested in products designed for their life stage. Manufacturers can segment beauty lines to cater for specific skin ageing issues and therefore provide a certain degree of personalisation. Garnier’s Skin Naturals line which is available in Eastern Europe includes three variants; Wrinkle Smoother 35+, Lift expert 45+, and Intensive Restore 55+.
Skincare, colour cosmetics and haircare products that promote benefits for mature skin and hair with adapted colours, textures and advertising are key to increasing engagement and usage among seniors. Menopause innovation offers an area of development for beauty and food supplement marketers, who have an opportunity to target a substantial number of women with products that help them to look and feel their best as they go through what can be unpleasant hormonal changes.
The Logona Naturkosmetik Age Protection skincare range for mature skin is formulated with concentrated phyto-active ingredients, natural moisturisers and botanical oils to target specific skin problems, while stimulating skin’s own self-correcting capabilities.
Garnier Skin Naturals Lift Expert 45+ Anti-Ageing Night Care is suitable for women aged 45+ and is enriched with the power of plant stem cells and sea buckthorn oil to visibly reduce wrinkles whilst smoothing and moisturising skin and improving firmness and the face’s oval appearance.
L’Oreal Dermo-Expertise Age Perfect for Mature Skin Anti-Sagging + Anti-Age Spot SPF 15 Daily Moisturizer features a new menopause innovation formula with soya bean extract for anti-sagging action to help menopausal and post-menopausal skin rebuild its own substance to improve elasticity for more toned, supple and resilient skin.
Working at Mintel for over two years and working across several beauty categories, Emmanuelle works with clients around the world providing trends, markets and innovation insights and analysis. Emmanuelle is frequently a key speaker at leading beauty tradeshows including Beyond Beauty Paris, World Perfumery Congress and In-Cosmetics Asia. She is regularly called to speak to media globally on beauty, cosmetic and fragrance trends and contributes regularly to international, national and trade publications.