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 Billion by 2032.
Growing consumer demand for dietary supplements and meals high in nutrients is blamed for the market rise. Therefore, to capitalise on the growing demand, well-known firms are gradually adding fortified ingredients like hyaluronic acid to their products.
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Application in dietary supplements with fortified nutrients for general human body development is projected to fuel the increase as customers become more aware of hyaluronic acid’s advantages.
The cells of the human body contain the naturally occurring molecule hyaluronic acid. The fluids of the eyes and joints have the highest levels of hyaluronic acid.
Hyaluronic acid demand is therefore anticipated to increase throughout the course of the assessment period in the pharmaceutical and cosmetics industries. This is as a result of its nutrition and moisturising properties, which moisturise and plump the skin.
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.
Competitive Landscape
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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Explore More Valuable Insights
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
By Grade:
- Food Grade
- Pharmaceutical Grade
- Dietary Grade
By End-Use:
- Pharmaceutical Industry
- Dermatology Clinics & Cosmetic Surgery Centers
- Food Industry
- Personal Care
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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