Market Size of Hydrogel Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 23.16 Billion |
| Market Size (2029) | USD 32.62 Billion |
| CAGR (2024 - 2029) | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hydrogel Market Analysis
The Hydrogel Market size is estimated at USD 23.16 billion in 2024, and is expected to reach USD 32.62 billion by 2029, growing at a CAGR of 7.10% during the forecast period (2024-2029).
The COVID-19 pandemic harmed the hydrogel sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
- Over the short term, the increasing application of hydrogel in the healthcare industry and the surge in adoption in the agriculture industry are expected to drive the market's growth.
- However, the high production cost of hydrogel is expected to hinder the market's growth.
- The emergence of a new application area for hydrogel and rising awareness and adoption of hydrogel in the biomedical and personal care sector will act as an opportunity for the market studied.
- The Asia-Pacific region dominated the global hydrogel market with a significant share, and it is expected to register the fastest CAGR during the forecast period.
