June 27, 2022 19:30 ET | Source: FACT.MR FACT.MR

Seoul, South Korea, June 28, 2022 (GLOBE NEWSWIRE) -- As of 2022, the global hyaluronic acid market holds a net value of US$ 11.31 billion and is predicted to reach US$ 24.11 billion by the end of 2032. Worldwide hyaluronic acid shipments are expected to rise at a CAGR of 7.9% from 2022 to 2032.

The world has witnessed a prominent increase in focus on personal care, and this has bolstered the demand for hyaluronic acid in several personal care products and cosmetics. Increasing incidence of osteoarthritis is also expected to further boost demand for hyaluronic acid, as it is crucially used in viscosupplementation treatment. Rising disposable income and investments in research to uncover more benefits of hyaluronic acid are also expected to positively market growth across the forecast period (2022-2032).

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Hyaluronic acid suppliers are majorly focusing on mergers, collaborations, partnerships, and acquisitions to increase their market presence and gain a competitive advantage. They are also investing in product development to fast-track new launches and increase their sales revenue.

What Factors Could Result in Increased Hyaluronic Acid Market Revenue?

“Rising Focus on Personal Care to Drive Demand for Hyaluronic-based Products”

Aesthetic awareness among the general population has substantially increased over the past few years owing to the rising penetration of social media and the growing influence of celebrities. Consumption of hyaluronic acid supplements is expected to rise as the popularity of their anti-aging effect increases.

Hyaluronic acid for skin-based applications and hyaluronic acid for hair-based applications are expected to see a prominent increase throughout the forecast period. Rising preference for organic products is expected to drive demand for organic hyaluronic acid powder, and this is expected to adversely affect synthetic hyaluronic acid sales through 2032.

Increasing disposable income is also expected to boost sales in the personal care segment. All of these factors are expected to make the personal care segment a target market for hyaluronic acid over the years to come.

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Key Segments Covered in the Hyaluronic Acid Industry Survey

Top companies in the hyaluronic acid market are focusing on launching new products to increase their sales potential across several geographies. Hyaluronic acid suppliers are also eyeing mergers, collaborations, and acquisitions to drive their revenue generation potential and gain a competitive edge over other hyaluronic acid brands.

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Key players in the Hyaluronic Acid Market

Key Takeaways from Hyaluronic Acid Market Study

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