As per Future Market Insights (FMI), the hyaluronic acid market is driven by increased demand for hyaluronic acid-based products such as dermal filters, moisturizers, shampoo etc. in cosmetics industry
DUBAI, United Arab Emirates, Aug. 28, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global hyaluronic acid market is set to witness growth at a CAGR of 6.4% and is anticipated to reach a valuation of around US$ 16.4 Bn by 2032.
Growth in the market is attributed to rising demand for nutritional supplements and healthy food products. Hence, key manufacturers are increasingly using fortified agents such as hyaluronic acid in their products to capitalize on the growing demand.
As consumers are becoming more aware of the benefits of hyaluronic acid, application in dietary supplements with fortified nutrients for general human body development is expected to drive the growth.
Hyaluronic acid is a naturally occurring chemical that can be found in the cells of the human body. The largest concentrations of hyaluronic acid are found in the fluids of the eyes and joints.
Hence, demand for hyaluronic acid in cosmetics and pharmaceutical industries is expected to rise over the assessment period. This is due to its moisturizing characteristics and nutrition to hydrate and plump the skin.
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Key Takeaways from Market Study
Based on grade, the pharmaceuticals segment is anticipated to account for around 33.2% of the market share over the forecast period.
North America hyaluronic acid market is expected to witness a lucrative growth rate of 7.0% CAGR during the forecast period.
East Asia is expected to account for 25.6% in the global hyaluronic acid market through 2032.
In terms of end-use, the food industry is expected to hold a market share of over 15.2% over the forecast period
“Manufacturers are developing hyaluronic acid-based supplements and injectable in response to the rising incidence of osteoporosis and rheumatoid arthritis. As a result of growing prevalence of bone and joint problems, the market for hyaluronic acid is expected to increase significantly during the forecast period.” says a Future Market Insights analyst.
Market participants are always pursuing joint ventures, mergers and acquisitions, and other strategic efforts. Archer Daniels Midland Company and Royal DSM are two significant companies attempting to expand their global footprints and capacities.
Leading corporations in fast-growing regions such as East Asia and South Asia are also striving to broaden their product lines in order to get a competitive advantage.
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Future Market Insights, in its new report, offers an impartial analysis of the global hyaluronic acid market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on grade (cosmetics industry, pharmaceutical industry, dietary supplements), end-use (pharmaceutical industry, dermatology clinics & cosmetic surgery centers, food industry, personal care) across seven major regions of the world.
Hyaluronic Acid Market by Category
Dermatology Clinics & Cosmetic Surgery Centers
The Middle East and Africa
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About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports about the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.
2.2. Market Definition / Scope / Limitations
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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