Hyaluronic Acid Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.64 Billion |
| Market Size (2029) | USD 3.79 Billion |
| CAGR (2024 - 2029) | 7.46 % |
| Fastest Growing Market | Asia |
| Largest Market | Asia |
Major Players.webp){kind=logo}
*Disclaimer: Major Players sorted in no particular order |
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Hyaluronic Acid Market Analysis
The Hyaluronic Acid Products Market size is estimated at USD 2.64 billion in 2024, and is expected to reach USD 3.79 billion by 2029, growing at a CAGR of 7.46% during the forecast period (2024-2029).
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 in skincare and cosmetics products has steadily risen. The increasing number of patients with osteoporosis and rheumatoid arthritis is leading manufacturers to produce hyaluronic acid-based supplements and injectables. Further, rapidly aging demographic profiles in the Asia-Pacific region, including Japan, Australia, and China, present massive opportunities for dietary supplement manufacturers to develop and increase revenues using hyaluronic acid as an active ingredient.
Over the forecasted period, market growth is anticipated to be fueled by the increasing preference for minimally invasive cosmeceutical procedures and the requirement for quicker results. The emergence of cost-effective treatments and products, growing aesthetic consciousness, and technological advancements are some drivers propelling the industry's expansion. Moreover, top players in different segments are launching new hyaluronic acid-based products to maintain their position. For instance, in 2022, K-Beauty Firm Amorepacific developed a blue hyaluronic acid, a moisturizing skincare ingredient. Therefore, the increasing demand for hyaluronic acid in various industries is anticipated to drive overall market growth.
Hyaluronic Acid Market Trends
Increased Cases of Orthopedic Disorders
Hyaluronic acid in dietary supplements is valuable for individuals suffering from orthopedic disorders such as osteoarthritis (a degenerative joint disease) as it helps reduce pain and lubricate the joints. A growing prevalence of orthopedic diseases, such as arthritis, osteoporosis, and knee injuries, results in bone damage. In severe cases, total knee replacement (TKR) surgery can be delayed with the help of Hyaluronic Acid (HA). Rising musculoskeletal conditions, including knee, hip, and other joint diseases, are increasing the demand for joint replacement surgical surgeries, thereby driving the growth of the Hyaluronic Acid Market segment in the Pharmaceutical Industry. According to the data published by the Centre for Disease Control and Prevention in 2021, one in five adults has arthritis in the United States. Moreover, by 2040, an estimated 78.4 million adults aged 18 and older will have arthritis, as per the National Health Interview Survey.
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. Therefore, the increasing geriatric population is one of the most significant 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.
Asia Pacific Holds a Prominent Share in the Market
China is the biggest market for hyaluronic acid in the Asia-Pacific region. As the leading suppliers of hyaluronic acid are based in China, there is a convenient availability of Hyaluronic acid, particularly in China. Producers are focusing on further expanding their production capacity and applications of hyaluronic acid in the cosmetics and medical beauty fields. For instance, in 2022, China’s hyaluronic acid supplier Bloomage Biotech launched X Lab, a new functional body care label, and a hydrating shower gel containing patented hyaluronic acids to achieve a similar hydrating effect as its facial cleanser.
According to the World Economic Forum, an article published in September 2023 stated that more than 1 in 10 people in Japan are aged 80 or older, and the country consistently rates itself as having the world's oldest population. Hyaluronic acid plays a crucial role in joint health as its lubricating properties can ease pain and stiffness associated with age-related osteoarthritis, improving mobility and quality of life. Thus, the increasing aging population is the major driving factor behind the significant growth of the hyaluronic acid market in Japan.
India and Australia are other potential markets for hyaluronic acid manufacturers to expand their market share. India has one of the largest millennial populations, which tend to spend more on beauty and skincare essentials. Due to high environmental exposure, supplemental hyaluronic acid is popular among Australians to protect the skin barrier and keep water from evaporating, giving the body more hyaluronic acid to integrate into the skin.
Hyaluronic Acid Industry Overview
The hyaluronic acid market is fragmented, with the presence of small and large players. Some prominent players in the market are Contipro AS, Bloomage Biotechnology Corporation Limited, Fufeng Group, Kewpie, and Givaudan SA. The key strategies adopted by these players include product innovation, partnerships, mergers, and acquisitions. For instance, in April 2023, Givaudan acquired a major cosmetic ingredients portfolio from Amyris Inc. Amyris is a biotechnology company that provides ingredients for the beauty, health & and wellness industries. Additionally, they also focus on R&D activities by collaborating with universities and other research institutions to attain high product innovations specific to the end-user application and gain an advantage over their competitors.
Hyaluronic Acid Market Leaders
Contipro AS
Bloomage Biotechnology Corporation Limited
Fufeng Group
Kewpie
Givaudan SA
*Disclaimer: Major Players sorted in no particular order
Hyaluronic Acid Market News
- September 2023: Bloomage Biotech Co., through its research of varying efficacies of Hyaluronic Acid (HA) molecules of different weights, found an enzyme degradation technology that can accurately control the molecular size of HA between 400Da and 4000kDa.
- September 2023: Bloomage Biotech Co. expanded its product offering and introduced “Hyadom.” Hyadom is a hyaluronic acid lubricant that provides quality intimate health. Moreover, Hyadom ensures a non-greasy, skin-friendly touch, effectively reducing friction and alleviating discomfort during intimate engagements.
- March 2023: Givaudan Active Beauty launched a Positively charged cationic hyaluronic acid named 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.
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
4.1.1 Rise in the Number of Orthopaedic Treatment
4.1.2 Hyaluronic Acid: a Key Molecule in Skin Health
4.2 Market Restraints
4.2.1 Potential Side Effects of Hyaluronic Acid
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 Most Adopted Strategies
6.2 Market Positioning of Players
6.3 Company Profiles
6.3.1 Contipro AS
6.3.2 HTL Biotechnology
6.3.3 Lifecore Biomedical LLC
6.3.4 Koninklijke DSM NV
6.3.5 Givaudan SA
6.3.6 Fufeng Group
6.3.7 Bloomage Biotech Co.
6.3.8 Kewpie Corporation
6.3.9 Baoding Faithful Industry Co. Ltd
6.3.10 Plamed Green Science Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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. It also plays a crucial role in wound healing by controlling inflammation and redirecting blood flow to damaged tissue.
The Hyaluronic Acid market is segmented by Application into dietary supplements, pharmaceutical industry, and cosmetics industry, and by Geography it is segmented into 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.
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| Dietary Supplements | |
| Pharmaceutical Industry | |
| Cosmetics Industry |
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Hyaluronic Acid Products Market Research FAQs
How big is the Hyaluronic Acid Products Market?
The Hyaluronic Acid Products Market size is expected to reach USD 2.64 billion in 2024 and grow at a CAGR of 7.46% to reach USD 3.79 billion by 2029.
What is the current Hyaluronic Acid Products Market size?
In 2024, the Hyaluronic Acid Products Market size is expected to reach USD 2.64 billion.
Who are the key players in Hyaluronic Acid Products Market?
Contipro AS, Bloomage Biotechnology Corporation Limited, Fufeng Group, Kewpie and Givaudan SA are the major companies operating in the Hyaluronic Acid Products Market.
Which is the fastest growing region in Hyaluronic Acid Products Market?
Asia is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Hyaluronic Acid Products Market?
In 2024, the Asia accounts for the largest market share in Hyaluronic Acid Products Market.
What years does this Hyaluronic Acid Products Market cover, and what was the market size in 2023?
In 2023, the Hyaluronic Acid Products Market size was estimated at USD 2.44 billion. The report covers the Hyaluronic Acid Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Hyaluronic Acid Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hyaluronic Acid Products Industry Report
Statistics for the 2024 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 for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
