Global Hyaluronic Acid Market was over $1.0 billion in 2020, and is anticipated to cross $2.1 billion by 2030, witnessing a CAGR of 8.1% from 2021 to 2030, According to published report by Allied Market Research. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
High benefits of hyaluronic acid in the cosmetic industry and increase in adoption of nonsurgical cosmetic procedures drive the growth of the global hyaluronic acid market. However, presence of alternatives to hyaluronic acid hinders the market growth. On the other hand, technological advancements in hyaluronic acid present new opportunities in the coming years.
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There is an increase in the demand for hyaluronic acid from cosmetic industry, pharmaceutical industry, and others. The demand for facial injectables increasing which is boosting the demand for hyaluronic acid from cosmetic industry. Some of the major cosmetic markets are North America and Europe. However, stringent regulatory rules are projected to be a one of the barriers for hyaluronic acid market growth. In addition, the prices of hyaluronic acid are also expected to hinder the hyaluronic acid market. On the contrary, the increasing cosmetics and pharmaceutical industry in Asia-Pacific and LAMEA is expected to offer lucrative opportunities during the forecast period.
Based on end use industry, the pharmaceutical industry segment held the highest market share in 2020, accounting for more than half of the global hyaluronic acid market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 8.5% from 2021 to 2030, owing to favorable governmental policies in several regions. The report also discusses the cosmetic and nutraceutical industries.
By End-Use Industry-
- Cosmetics Industry
- Pharmaceutical Industry
- Nutraceutical Industry
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than four-fifths of the global hyaluronic acid market. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 8.3% during the forecast period. This is attributed to the presence of established consumer bases such as pharmaceutical, cosmetics industry, and others. The report also discusses North America, Europe, and LAMEA.
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- The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global hyaluronic acid market.
- The implementation of lockdown led to halt the manufacturing activities in the industrial sectors, which correspondingly hampered hyaluronic acid manufacturing facilities.
- The raw material procurement was also a challenge for manufacturers, owing to labor shortages and disrupted supply chain.
Leading Market Players
- Contipro a.s.
- Landec Corporation
- Anmol Chemicals Group
- Kewpie Corporation
- Shandong Topscience Biotech Co., Ltd.
- Liuzhou Shengqiang Biotech Co.,Ltd.
- Shijiazhuang lateen chemical co., ltd.
- Shandong Focuschem Biotech Co., Ltd.
- Tiansheng Bio
- Kikkoman Biochemifa Company
- The report provides a qualitative and quantitative analysis of the current hyaluronic acid market trends, forecasts, and market size from 2021 to 2030 to determine new opportunities.
- Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
- Top impacting factors & major investment pockets are highlighted in the research.
- The major countries in each region are analyzed and their revenue contribution is mentioned.
- The market player positioning segment provides an understanding of the current position of the market players active in the hyaluronic acid market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.