The Global Hyaluronic Acid Personal Care Products Industry is anticipated to witness a remarkable surge, reaching an estimated US$ 7.36 billion by 2033, up from US$ 3.26 billion in 2023. This growth is underlined by a robust Compound Annual Growth Rate (CAGR) of 8.5%, a testament to the increasing demand driven by concerns about aging populations worldwide.
Accessible through various retail channels, including online platforms, beauty salons, pharmacies, supermarkets, and specialty stores, these products have become a staple in the pursuit of youthful and radiant skin. Notably, no prescription is required for purchase, making them easily attainable for consumers seeking effective skincare solutions.
Hyaluronic acid, a key ingredient in these personal care products, plays a pivotal role in enhancing skin appearance. By reducing flaking and restoring suppleness to damaged or dry skin, it has emerged as a sought-after solution for those aiming to combat the signs of aging.
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Key Takeaways from Global Hyaluronic Acid Personal Care Products Industry Study
- The hyaluronic acid personal care products market is expected to record a CAGR of 8.5% over the forecast period.
- According to estimates, the market in North America is likely to remain strong throughout the length of the forecast period.
- In terms of product, the serum segment accounts for a significant share of the market, since they are more effective at penetrating the skin.
- China holds a 40% share of the Asia Pacific market and is projected to expand at a CAGR of over 8.5%.
Competitive Landscape in the Global Hyaluronic Acid Personal Care Products Industry:
Several prominent companies dominate this market, including Shiseido Co., Ltd., CeraVe, L’oréal Paris, La Roche Posay, Johnson & Johnson Consumer Inc. (Neutragena), SkinCeuticals, The Ordinary (Deceim Beauty Group, Inc.), Heraux (Carthronix), Innisfree (Amorepacific US, Inc.), Saro De Rúe, Beautiful Korea and others.
Several domestic and international manufacturers are present in the market, and they are continually investing in research and development, making the market highly fragmented. It is common for companies to innovate their products and collaborate with celebrities and social media influencers to gain more customers.
Manufacturers of these products can gain a larger share of the market, expand their product portfolios, and expand their geographical reach by engaging in these activities. By partnering with other companies, key players can also gain access to new markets and advanced technologies. They can also acquire companies, merge, and diversify their portfolios as well.
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Global Hyaluronic Acid Personal Care Products Industry Recent Developments:
- A freeze-dried hyaluronic acid system that offers clinically proven benefits for the skin was introduced by Saro De Re in January 2021.
- In March 2021, Royal DSM, a global science-based company focused on nutrition, health, and sustainability, launched three forms of hyaluronic acid. HYA-ACT Medium Molecular Weight (MW 1.0-1.3 MDa) enhances skin hydration and strengthens the skin’s protective barrier. HYA-ACT XS Molecular Weight (MW 37-56 kDa) pumps out fine lines and wrinkles and locks in moisture for an even greater hydration boost and calms reddened skin, while HYA-ACT Small Molecular Weight (MW 200-400 kDa) locks in moisture for an even greater hydration boost and calms reddened skin.
- In February 2020, Seikagaku Corporation, Japan-based pharmaceutical research and development company announced that it had acquired Dalton Chemical Laboratories Inc, a Canadian drug manufacturer. As a result of this acquisition, Seikagaku can strengthen its market position, as well as expand its research and development operations.
Global Hyaluronic Acid Personal Care Products Industry Segmentation
By Category
By Product:
- Skin Creams
- Skin Lotions
- Toner
- Serum
- Moisturize
By Price:
- High/Premium
- Medium
- Low
By Application:
- Dermal Fillers
- Ophthalmic
By Distribution Channel:
- Supermarket/Hypermarket
- Specialty Stores
- Company Owned Websites
- Online Retailing
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