Hyaluronic Acid Market Size
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| CAGR | 7.60 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hyaluronic Acid Market Analysis
The Hyaluronic Acid Products Market size is expected to grow from USD 12.04 billion in 2023 to USD 17.36 billion by 2028, at a CAGR of 7.60% during the forecast period (2023-2028).
Hyaluronic acid is a sought-after ingredient in cosmetics and skin care products due to its exceptional moisture-retaining properties. Thus, the demand for hyaluronic acid as an ingredient in skincare and cosmetics products has been steadily rising in the market. Further, rapidly aging demographic profiles in the Asia-Pacific segment, including Japan, Australia, and China, have presented a huge opportunity for the dietary supplement and cosmetics industry to develop and gain increasing revenues using hyaluronic acid as an active ingredient. Moreover, top players in different segments are launching new hyaluronic acid-based products to maintain their position. For instance, ClearVisc Ophthalmic Viscosurgical Device (OVD) found by Bausch Health in 2021 is the latest approved hyaluronic acid-based Visco supplement for ophthalmic use. The increasing number of patients with osteoporosis and rheumatoid arthritis is leading manufacturers to produce hyaluronic acid-based supplements and injectables.
Over the forecasted period, market growth is anticipated to be fueled by the increasing preference for minimally invasive procedures and the requirement for quicker results. The emergence of cost-effective treatments and products, the aging population, growing aesthetic consciousness, and technology advancements are a few of the drivers propelling the industry's expansion. Moreover, the percentage of aesthetic treatments being performed is rising as a result of an increase in plastic surgeons and cosmetic surgery clinics. The industry is being driven by the increasing use of nonsurgical cosmetic procedures like Botox and injectable hyaluronic acid. Furthermore, Hyaluronic Acid has major use in cosmetic applications. For instance, in skincare formulation, hyaluronic acid can be used as a moisturizing component owing to its hydrophilic nature. As a result, key players are developing new hyaluronic ingredients in the market to meet the growing demand in the cosmetics market. For instance, in 2022, K-Beauty Firm Amorepacific developed a blue hyaluronic acid, a moisturizing skincare ingredient. Thereby, the increasing demand for hyaluronic acid ingriednt in various industries is anticipated to drive the overall market growth.
Hyaluronic Acid Market Trends
Increased Cases of Orthopedic Disorders
Hyaluronic acid in dietary supplements is found extremely valuable for individuals suffering from orthopedic disorders such as osteoarthritis (a type of degenerative joint disease) as it helps reduce the pain and lubricate the joints. The aging or geriatric population is one of the largest target segments for the hyaluronic acid market as they are highly susceptible to incontinence, bone injuries, and fractures. Thus, with the increasing cases of bone and joint-related issues, the market for hyaluronic acid is projected to witness significant growth during the forecast period.
There is a growing prevalence of orthopedic diseases, such as arthritis, osteoporosis, knee injuries, etc., resulting in bone damage. In severe cases, total knee replacement (TKR) surgery can be delayed with the help of Hyaluronic Acid (HA). For instance, in July 2022, WHO reported that approximately 1.71 billion people have musculoskeletal conditions worldwide. Rising musculoskeletal conditions, including knee, hip, and other joint diseases, are increasing the demand for joint replacement surgical surgeries, in turn increasing the demand for Hyaluronic acid medication, thereby driving the growth of the Hyaluronic Acid Market segment in the Pharmaceutical Industry.
An article published in the journal Research Bone in May 2022 reported that with the increase in the aging of the world's population, it is estimated that the prevalence of osteoarthritis (OA) will increase from 26.6% to 29.5% among the middle-aged population by 2032. The source also reported a higher incidence of osteoarthritis (OA) in women than in men. The prevalence of osteoarthritis (OA) is expected to increase to 12% of its present cases by 2040 in the Netherlands. Thus, the increasing incidence of osteoarthritis (OA) is increasing the demand for Hyaluronic Acid, thereby propelling the growth of this segment in the pharmaceutical industry since most of the osteoarthritis (OA) patients are suggested to take Hyaluronic Acid Injections by doctors during the treatment process. Therefore, all the above mentioned factors drive the Hyaluronic Acid Market across the world particularly in Pharmaceutical Industry.
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North America Holds a Prominent Share in the Market
The cosmetic industry in the United States is one of the most flourished and mature markets regarding innovations and product availability. The demand from the country (where younger generations reject the idea of brand follow-up but prefer locally sourced, organic. and sustainable cosmetic solutions) is expected to drive the growth of the hyaluronic acid market by streamlining its presence across skin-related products. The United States market for hyaluronic acid is likely to be driven by the 'anti-aging' section. The consumers in the Gen X segment seek to approach 'ageless' products, citing the ample spending power to embrace a reliable option for long-term use. North America dominates the hyaluronic acid market due to the strong healthcare industry and increased alertness. Furthermore, the swift adoption of new skin care treatments and technologies will further boost the growth of the hyaluronic acid market in the region during the forecast period.
Moreover, the United States market is moving away from animal-derived hyaluronic acid and drifting toward synthetic, botanical, and fermented ingredients. Thus, global players are actively investing in R&D for new product launches. For instance, in 2020, Givaudan launched Unitamuron™ H-22, a vegetal hyaluronic acid that contains an aqueous extract of tamarind seeds that could be used in a range of products, including moisturizing, anti-wrinkles products, primers, lip care, rinse-off products, detangling shampoo, and hair care. Furthermore, hyaluronic acid injections are approved by the US Food and Drug Administration (FDA), exclusively for use in Intra-articular viscosupplementation to treat pain associated with arthritis in the United States, thereby catering to the market growth in the country.
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Hyaluronic Acid Industry Overview
The hyaluronic acid market is fragmented, with the presence of many players. The key strategies adopted by the players in the hyaluronic acid market are product innovations, partnerships, mergers, and acquisitions. Companies are trying to collaborate with universities and other research institutions for research activities, leading them to high product innovations specific to the end-user application. This factor would help them to increase the market by volume. The prominent players in the market are Contipro AS, Lifecore Biomedical, AlfaSagittarius, Shandong Topscience Biotech, and VitalEsthetique. To retain their position within the market or gain an advantage over their competitors, major players have focused on research and development (R&D).
Hyaluronic Acid Market Leaders
Contipro AS
Koninklijke DSM NV
Alfasagittarius
Lifecore Biomedical LLC
HTL Biotechnology
*Disclaimer: Major Players sorted in no particular order
Hyaluronic Acid Market News
- Mar 2023: Positively charged cationic hyaluronic acid has been introduced by Givaudan. Givaudan Active Beauty launched a Positively charged cationic hyaluronic acid named as PrimalHyal Hydra[+], a brand-new cationic hyaluronic acid (HA), using white biotechnology. The new ingredient is claimed to outperform regular HA's hydrating effects by at least a factor of two, making it suitable for rinse-off and leave-on treatments.
- May 2022: DSM and Firmenich announced that they signed a business merger agreement to establish the leading partner for innovation in the fields of nutrition, beauty, and well-being ("DSM-Firmenich")
- Mar 2021: Royal DSM, a global science-based company active in nutrition, health, and sustainable living, launched three different forms of hyaluronic acid. These are HYA-ACT MMedium Molecular Weight (MW 1.0-1.3 MDa), which enhances skin hydration and strengthens the protective barrier. HYA-ACT S Small Molecular Weight (MW 200-400 kDa) locks in moisture for an even greater hydration boost and calms reddened skin, and HYA-ACT XS Very Small Molecular Weight (MW 37-56 kDa) supplies a continuous burst of intense hydration and plumps out fine wrinkles.
Hyaluronic Acid Products Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Dietary Supplements
5.1.2 Pharmaceutical Industry
5.1.3 Cosmetics Industry
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Russia
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 Rest of the World
5.2.4.1 South America
5.2.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Positioning of Players
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 Contipro AS
6.3.2 Qufu Guanglong Biochem Co. Ltd
6.3.3 AlfaSagittarius
6.3.4 Shandong Topscience Biotech
6.3.5 VitalEsthetique
6.3.6 BaodingFaithfulIndustry Co. Ltd
6.3.7 Genzyme Corporation
6.3.8 HTL Biotechnology
6.3.9 Lifecore Biomedical LLC
6.3.10 Koninklijke DSM NV
6.3.11 Givaudan SA
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
Hyaluronic Acid Industry Segmentation
Hyaluronic acid, also known as hyaluronan (HA), is an organic compound that belongs to the branch of carbohydrates and polysaccharides. Hyaluronic acid plays a crucial role in retaining moisture, promoting tissue hydration, and lubricating joints.
The Hyaluronic Acid market is segmented by Application (Dietary Supplements, Pharmaceutical Industry, and Cosmetics Industry) and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). The market sizing has been done in value terms in USD for all the abovementioned segments.
| By Application | |
| Dietary Supplements | |
| Pharmaceutical Industry | |
| Cosmetics Industry |
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Hyaluronic Acid Products Market Research FAQs
What is the study period of this market?
The Hyaluronic Acid Products Market is studied from 2018 - 2028.
What is the growth rate of Hyaluronic Acid Products Market?
The Hyaluronic Acid Products Market is growing at a CAGR of 7.60% over the next 5 years.
What is Hyaluronic Acid Products Market size in 2028?
The Hyaluronic Acid Products Market is valued at 17 Billion USD in 2028.
Which region has highest growth rate in Hyaluronic Acid Products Market?
North America is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Hyaluronic Acid Products Market?
North America holds highest share in 2022.
Who are the key players in Hyaluronic Acid Products Market?
Contipro AS, Koninklijke DSM NV, Alfasagittarius, Lifecore Biomedical LLC, HTL Biotechnology are the major companies operating in Hyaluronic Acid Products Market.
Hyaluronic Acid Products Industry Report
Statistics for the 2023 Hyaluronic Acid Products market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hyaluronic Acid Products analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Hyaluronic Acid Products Market Report Snapshots
