In 2033, the global market for hyaluronic acid personal care products is expected to reach US$ 7.36 billion, up from US$ 3.26 billion in 2023. This market is expected to register an 8.5% CAGR over the next few years, due to growing concerns about the appearance of aging populations.
It is easy to purchase these products online and through other retail channels, such as beauty salons, pharmacies, supermarkets, and specialty stores, without requiring a prescription. Hyaluronic acid improves the appearance of skincare products by reducing flaking and restoring suppleness to damaged or dry skin.
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The use of hyaluronic acid, for instance, can reduce wrinkles, plump up the skin, and improve skin texture overall. Furthermore, the product offers moisture-retaining film properties, anti-wrinkle, anti-irritation properties, nutrition delivery, and free radical scavenging properties. Due to these properties, cosmetic-grade hyaluronic acid is also becoming increasingly popular in skincare, makeup, cleansing, and hair care.
Key Takeaways from Market 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%.
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Competitive Landscape:
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.
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 is able to strengthen its market position, as well as expand its research and development operations.
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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
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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