Wilmington, Delaware, United States, March 06, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The hyaluronic acid beauty products market size stood at US$ 2.1 Bn in 2022 and is projected to expand at a CAGR of 7.4% between 2023 and 2031. The market value is estimated to reach US$ 4.0 Bn by 2031. Growth in demand for skin care products with anti-aging and hydrating characteristics is what propels the global hyaluronic acid beauty products market. Furthermore, increase in prevalence of skin diseases and rise in personal care spending are expected to drive market development.
The changing economic situation due to COVID-19 led consumers to opt for inexpensive skin care items over expensive or specialized ones. Consumers are becoming more interested in hyaluronic acid-based cosmetics as their understanding of skin care products and attention toward aesthetics grows. Major players in the global market are making substantial investments in the R&D of improved and novel products in order to expand their market share.
Products containing hyaluronic acid are used to enhance elasticity, skin texture, and increase skin hydration. Hyaluronic acid-based skin care products that moisturize, tone, and hydrate the skin include skin toners, creams, moisturizers, and serums. Hyaluronic acid is a common ingredient in skin treatments used by dermatologists. The humectant property of hyaluronic acid causes it to draw and hold onto water molecules, keeping the skin hydrated. Using hyaluronic acid-containing skin care products helps the skin restore its natural balance and maintain high hydration levels. These benefits are anticipated to drive business opportunities in the global hyaluronic acid beauty products market from 2023 to 2031.
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Key Findings of Market Report
- Hyaluronic acid is one of the main compounds used by cosmetic companies since it aids in hydration and plumps the skin. In a manner similar to how it functions on the skin, hyaluronic acid's capacity to bind humectants helps hair fibers retain and seal moisture from cosmetics. When hair is dry and brittle, hyaluronic acid assists in replenishing moisture. These advantages encourage the use of hyaluronic acid in a variety of cosmetics, thus driving the global industry.
Global Hyaluronic Acid Beauty Products Market: Growth Drivers
- In serums and creams, hyaluronic acid helps to hydrate the skin by penetrating the protective layers of the skin. Along with hydrating the skin, hyaluronic acid helps to plump it, which can reduce the visibility of wrinkles and fine lines. It also leaves the skin looking young and healthy. This is expected to drive market demand.
- Hyaluronic acid is often used to moisturize the skin. It can be found in a variety of skin care products, such as lotions, creams, ointments, and serums. Both traditional shops and online retailers provide cosmetic products containing hyaluronic acid. Cost of hyaluronic acid beauty products can differ greatly based on the brand, kind of product, and purity of ingredients. While price of some hyaluronic acid beauty products are on the higher side, most are still reasonably priced. Hence, increase in demand for reasonably priced cosmetics is anticipated to drive the market for hyaluronic acid beauty products in the near future.
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Global Hyaluronic Acid Beauty Products Market: Regional Landscape
- Based on market forecast, Asia Pacific is anticipated to have the highest share of the global hyaluronic acid beauty products market between 2023 and 2031. Rise in number of elderly people and growing importance of aesthetics is anticipated to bolster industry growth. Additionally, as skin-related disorders become more common, the market for hyaluronic acid cosmetics is predicted to grow.
- The hyaluronic acid beauty products industry is expected to expand significantly in North America during the forecast period. Increase in popularity of minimally invasive procedures and rise in knowledge of advantages of hyaluronic acid cosmetics are likely to boost market development in the region. In North America, the U.S. plays a significant role in the regional market growth.
Global Hyaluronic Acid Beauty Products Market: Key Players
Some of the key players in the global hyaluronic acid beauty products market include;
- Shiseido Company, Limited
- Bausch Health Companies Inc.
- Lifecore Biomedical, Inc.
- Fidia Farmaceutici S.p.A.
- Zimmer Biomet
- Johnson & Johnson
Global Hyaluronic Acid Beauty Products Market: Segmentation
Product
- Creams
- Serums
- Moisturizers
- Gels
- Others
Type
- Skin Care
- Hair Care
Price Range
- Low (Below US$ 25)
- Medium (US$ 25-US$ 50)
- High/Premium (Above US$ 50)
Consumer Group
- Men
- Women
- Unisex
Distribution Channel
- Online
- Offline
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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