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 Bn by 2032.
Growth in the market is attributed to rising demand for nutritional supplements and healthy food products. Hence, key manufacturers are increasingly using fortified agents such as hyaluronic acid in their products to capitalize on the growing demand.
As consumers are becoming more aware of the benefits of hyaluronic acid, application in dietary supplements with fortified nutrients for general human body development is expected to drive the growth.
Hyaluronic acid is a naturally occurring chemical that can be found in the cells of the human body. The largest concentrations of hyaluronic acid are found in the fluids of the eyes and joints.
Hence, demand for hyaluronic acid in cosmetics and pharmaceutical industries is expected to rise over the assessment period. This is due to its moisturizing characteristics and nutrition to hydrate and plump the skin.
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Key Takeaways from Market Study
- Based on grade, the pharmaceuticals segment is anticipated to account for around 2% of the market share over the forecast period.
- North America hyaluronic acid market is expected to witness a lucrative growth rate of 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 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.
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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.
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.
Frequently Asked Questions
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