DUBAI, United Arab Emirates, Aug. 28, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights (IMF), the global hyaluronic acid market is expected to grow at a CAGR of 6.4% and is expected to reach a valuation of approximately US$16.4 billion by 2032.
The growth of the market is attributed to the growing demand for nutritional supplements and healthy food products. Consequently, major manufacturers are increasingly using fortified agents such as hyaluronic acid in their products to capitalize on the growing demand.
As consumers are increasingly aware of the benefits of hyaluronic acid, the application in dietary supplements with enriched nutrients for the general development of the human body is expected to stimulate growth.
Hyaluronic acid is a natural chemical found in the cells of the human body. The greatest concentrations of hyaluronic acid are found in the fluids of the eyes and joints.
Therefore, the demand for hyaluronic acid in cosmetic and pharmaceutical industries is expected to increase over the assessment period. This is due to its moisturizing and nutritional characteristics to hydrate and plump the skin.
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Key insights from market research
- Based on grade, the Pharmaceuticals segment is expected to account for approximately 33.2% in market share over the forecast period.
- The North American Hyaluronic Acid Market is Expected to Witness a Lucrative Growth Rate of 7.0% CAGR during the forecast period.
- East Asia is expected to account for 25.6% of the global hyaluronic acid market through 2032.
- In terms of end use, the food industry is expected to hold a market share of more than 15.2% over the forecast period
“Manufacturers are developing hyaluronic acid supplements and injectables in response to the growing incidence of osteoporosis and rheumatoid arthritis. Due to the increasing prevalence of bone and joint problems, The hyaluronic acid market is expected to grow significantly over the forecast period. says an analyst from Future Market Insights.
Market players are always looking for joint ventures, mergers and acquisitions, and other strategic endeavors. Archer Daniels Midland Company and Royal DSM are two prominent companies trying to expand their global footprint and capabilities.
Large companies in fast-growing regions such as East Asia and South Asia are also striving to expand their product lines to gain a competitive edge.
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Explore more valuable insights
Future Market Insights in its new report offers an unbiased analysis of the global hyaluronic acid market, presenting historical data (2017-2021) and estimation statistics for the forecast period 2022-2032.
The study offers compelling information based on grade (cosmetic industry, pharmaceutical industry, dietary supplements), end-use (pharmaceutical industry, dermatology clinics and cosmetic surgery centers, food industry, personal care) in seven major regions of the world.
Hyaluronic Acid Market by Category
- Food grade
- Pharmaceutical grade
- Dietary quality
By end use:
- Pharmaceutical industry
- Dermatology clinics and cosmetic surgery centers
- Food industry
- Personal care
- North America
- Latin America
- East Asia
- South Asia
- The Middle East and Africa
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market Context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Product launches and recent developments
3.4. Product life cycle analysis
3.5. Value chain analysis
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