I did you know the anti aging market split into five segments (‘cosmetic treatments and surgery’, ‘exercise and therapy’, ‘food and beverages’, ‘vitamins, minerals and supplements’, and ‘cosmetics and cosmeceuticals’. Unfortunately the article that reviewed research conducted by FIND/SVP had no definitions of these segments, so I am still at a loss to know what a cosmeceutical is all about. Putting aside this strange naming of market segments; the anti-aging market seems to be one with huge potential. It is expected to grow by 50% in the next 5 years from it current size of $43 Billion.
There were a couple of interesting marketing opportunities highlighted in the report.
Brand extension, marketers should consider offering a related offshoot of their current products or services in order to achieve broader brand recognition in larger market segments. I guess this mean extending an anti aging product into the mainstream market.
Cross generational market enticement (my words not those of the report). This is the opportunity for the 50+ to entice their offspring to use anti-aging products. I am not sure if I like the ethical implications of this idea.
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