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2021

Hyaluronic Acid Market

Hyaluronic Acid Market Size, Share, Competitive Landscape and Trend Analysis Report by End-Use Industry : Global Opportunity Analysis and Industry Forecast, 2021-2030

MC : Renewable, Speciality and fine chemicals

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Author's: Amit Narune | Eswara Prasad
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Hyaluronic Acid Market Outlook - 2021–2030

The hyaluronic acid market size was valued at $1.0 billion in 2020, and is projected to reach $2.1 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

Hyaluronic acid is a naturally occurring substance found in the human body cells. Hyaluronic acid is found in the highest concentration in the eye and joint fluids. In the joints and other tissues, it acts as a cushion and lubricant. Its moisturizing properties make it popular in cosmetics and the pharmaceutical business. It's also utilized in surgeries. It is also injected directly into the body to give the skin hydration and plumpness. For cataract surgery, an eye surgeon injects hyaluronic acid into the eye. Mouth sores can also be treated with hyaluronic acid gel and rinse.

Hyaluronic-Acid-Market-2021-2030

The hyaluronic acid market is driven by factors such as increase in demand for hyaluronic based products such as moisturizer, dermal fillers, shampoo and others. In addition, the presence of elderly people, especially in Japan and China, has increased the problem of joint pain. This has increased the demand for hyaluronic acid as it is used for joint treatment. Furthermore, the hyaluronic acid market is well established especially in Asia-Pacific. However, the market is hindered by presence of alternative. The acceptance of ceramides, sqaulene, vitamin C and others skin care ingredients is becoming a restraint for the growth of the hyaluronic acid market. Utilizing an emollient, or a skin softener, like a moisturizer enhanced with squalene and ceramides, is also more effective. In addition, the stringent regulation, especially for skin and hair products, is also one of the challenging factors for the market. On the contrary, the rising consumer base in emerging economies is expected to offer lucrative opportunity during the forecast period. 

The hyaluronic acid market is segmented on the basis of end-use industry, and region. By end-use industry, the market is divided into cosmetic industry, pharmaceutical industry, and nutraceutical industry. Region-wise, the hyaluronic acid market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The hyaluronic acid market analysis covers in-depth information of the major industry participants. Some of the major players in the market include Contipro a.s. (Contipro), Landec Corporation (Landec), Anmol Chemicals Group (Anmol Chemicals), Kewpie Corporation (Kewpie), Shandong Topscience Biotech Co., Ltd. (Shandong Topscience), Liuzhou Shengqiang Biotech Co.,Ltd., (Shengqiang Biotech),  Shijiazhuang lateen chemical co., ltd. (Lateen chemical), Shandong Focuschem Biotech Co., Ltd. (Focuschem Biotech), Tiansheng Bio (TS-Bio), and Kikkoman Biochemifa Company (Kikkoman Biochemifa).

Other players in the hyaluronic acid market include Allergan, Inc. (Allergan), Salix Pharmaceuticals (Salix), Sanofi, Anika Therapeutics (Anika), Smith and Nephew Plc., (Smith and Nephew), Shiseido, and others.

Hyaluronic Acid Market, by End-Use Industry

By end-use industry, the cosmetic industry segment garnered market share of 32.6% in 2020, in terms of revenue and expected to grow at a CAGR of 7.4% during the forecast period. Rising fashion industry led to increase in the skin care products, which in turn fueled the demand for hyaluronic acid and acts as the major driving factor for the market during the forecast period. In addition, rapid expansion of cities led to increase in the salons, which also led to increase in demand for hyaluronic acid-based products.

Hyaluronic Acid Market
By End-use Industry
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Pharmaceutical Industry is projected as the most lucrative segment.

Hyaluronic Acid Market, by Region

Region-wise, Asia-Pacific is expected to grow at a CAGR of 6.3%, in terms of volume during the forecast period. China and India are expected to serve as the top investment countries in the market, during the forecast period. This is attributed to presence of rising consumer base such as cosmetic industry, pharmaceutical, and nutraceutical industry. In addition, the region also comprises major industrial participants especially in China. Furthermore, the major competitive advantage of Chinese hyaluronic acid companies is its cheap cost. Moreover, there were some significant developments with respect to the hyaluronic acid-based fillers in Asia-Pacific in 2020 and 2021. For instance, LG Chem expands its presence in Japan and China with bio products. The company has been expanding its presence in Japan and China with its hyaluronic acid filler in order to enhance its presence in the high-end filler market.

Hyaluronic Acid Market
By Region
2030
Asia-pacific 
North America
Europe

Asia-Pacific holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

Key benefits for stakeholders

  • The report outlines the current hyaluronic acid market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
  • The hyaluronic acid market size is provided in terms of revenue and volume.
  • The report provides an in-depth analysis of the market along with the current and future market trends.
  • This report highlights the key drivers, opportunities, and restraints of the market along with impact analysis during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the hyaluronic acid industry for strategy building.
  • The study provides a comprehensive analysis of the factors that drive and restrain the hyaluronic acid market growth.

Impact of COVID-19 on the Hyaluronic Acid Market

  • The outbreak of COVID-19 in China and its spread across numerous countries around the world halted the manufacturing activities of industrial sectors, which correspondingly hampered hyaluronic acid manufacturing as well.
  • The raw material procurement was also challenged owing to outbreak of COVID-19.
  • The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, inventory, sales, business and manufacturing operations, and others. 
  • As per the companies operating in the market, there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause. 
  • Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.

Hyaluronic Acid Market Report Highlights

Aspects Details
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By END-USE INDUSTRY
  • Cosmetics industry
  • Pharmaceutical industry
  • Nutraceutical industry
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By Region
  • North America  (US, Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, rest of LAMEA)
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Key Market Players

Landec, Anmol Chemicals Group, Shandong Focuschem Biotech Co., Ltd, Shijiazhuang lateen chemical co., ltd., Tiansheng Bio, Contipro a.s., Liuzhou Shengqiang Biotech Co.,Ltd., SHANDONG TOPSCIENCE BIOTECH CO., LTD., Kewpie Corporation, Kikkoman Corporation

Analyst Review

According to the opinions of various CXOs of leading companies, manufacturers are developing hyaluronic acid-based supplements and injectables in response to the rising number of people with osteoporosis and rheumatoid arthritis. As a result of the rising number of cases of bone and joint problems, the market for hyaluronic acid is expected to increase significantly over the forecast period. However, the market's expansion may be hampered in the forecast period by the cost-prohibitive manufacturing method and the availability of alternatives.

Author Name(s) : Amit Narune | Eswara Prasad
Frequently Asked Questions?

High benefits of hyaluronic acid in cosmetic industry, growing adoption of nonsurgical cosmetic procedures are some of the factors boosting the hyaluronic acid market growth

The hyaluronic acid market was valued at $1.0 billion in 2020, and is projected to reach $2.1 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

Currently, Landec Corporation, Contipro a.s., Kewpie Corporation (Kewpie), and Tiansheng Bio are some of the leading players in the hyaluronic acid market.

The cosmetic and pharmaceutical industry is projected to increase the demand for hyaluronic acid.

The end-use industry and region are the segments covered in the hyaluronic acid market report.

High benefits of hyaluronic acid in cosmetic industry are one of the major drivers of hyaluronic acid market.

Pharmaceutical industry is expected to drive the adoption of hyaluronic acid market.

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Hyaluronic Acid Market

Global Opportunity Analysis and Industry Forecast, 2021-2030