Hyaluronic Acid Serums Market Expected to Reach $399.5 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hyaluronic Acid Serums Market," The Hyaluronic Acid Serums Market Size was valued at $239.60 million in 2021, and is estimated to reach $399.5 million by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

A type of beauty product called a hyaluronic acid serum is used to replenish the skin's moisture and firmness. The body naturally contains hyaluronic acid, which aids in maintaining moisture levels by extracting water molecules from the dermis layer's depths and dispersing them evenly over the skin's surface. Hyaluronic acid levels may gradually decrease because of free radical damage, leading to wrinkles or dry spots on the face. Since it boosts elastin synthesis while simultaneously plumping out fine wrinkles and giving skin an immediate glow, this thin fluid has several advantages for aged skin. In addition, organic is a popular Hyaluronic Acid Serums Market Trends which is likely to bring myriad Hyaluronic Acid Serums Market opportunities. 

Consumers' growing knowledge of hyaluronic acid's anti-aging properties is one of the main factors fueling this market's expansion.  The increasing need for efficient skincare products from different manufacturers on the market, as well as the development of innovative product lines by key players in the market to satisfy consumer demands. Hyaluronic Acid Serums Market Opportunities for producers operating in this region are provided by government rules mandating the use of anti-aging treatments against diseases like melanoma, atopic dermatitis, etc.

The Hyaluronic Acid Serums Market is analyzed based on type, molecular weight, gender, distribution channel, and region. By type, the market is divided into facial care and hair care. Further, facial care is segmented into hydrolyzed hyaluronic acid, sodium hyaluronate, and sodium acetylated hyaluronate. Among these, the facial care segment occupied the major Hyaluronic Acid Serums Market Share of the Hyaluronic Acid Serums Market in 2021 and is projected to maintain its dominance during the forecast period. The segment is developing because of the increased accessibility of hyaluronic acid serums. Hyaluronic acid is a mild and safe substance that can be used by most people. Thus, the segment has opportunities for Hyaluronic Acid Serums Market Growth because of this factor.

By molecular weight, the Hyaluronic Acid Serums Industry is divided into high molecular weight, medium molecular weight, and low molecular weight. The low molecular weight segment is growing at a moderate rate during the forecast period. Since the hyaluronic acid molecules in low molecular weight products are small, they can more easily enter the skin's layers. In contrast to high molecular weight hyaluronic acid, which hydrates and moisturizes the top layers of the skin, low molecular weight hyaluronic acid penetrates all the way to the subdermal layers of the skin to moisturize it deeply.

By gender, the market is divided into men, women, and unisex. The men segment is anticipated to grow at highest CAGR during the forecast period. In many industrialized countries, manufacturers give new product launches priority, thus men's grooming products are no longer solely confined to conventional men's grooming products. Men increasingly utilize serums to minimize hair damage and falling, as well as to enhance the brightness and shine of their skin.

By distribution channel, it is classified into supermarkets/hypermarkets, drug stores/pharmacies, specialty stores, and online sales channel. The online sales channel segment is anticipated to grow at the highest CAGR during the forecast period. Online sales channels are platforms where customers or users can simply purchase anything from any location using a variety of mobile applications. Most people favor online commerce channels. Retailers have revolutionized their industries, moving from physical stores to multichannel companies. Entrepreneurs who use the smart multi-channel retailing strategy enhance their profits while also building a broad and extensive consumer base.

The region that dominated the global hyaluronic acid serum market in 2021 was Europe, and this dominance is anticipated to continue throughout the forecast period. Consumers' increasing awareness of age-related skin problems such as fine lines, wrinkles, and dullness as well as their increased tendency to spend money on products that help them advertise the youth of their skin are expected to boost the Europe hyaluronic acid serums market.

According to Aniket Kadam, Senior Research Analyst, Consumer Goods at Allied Market Research, “The main factors influencing the global hyaluronic acid serum market are the surge in demand for effective skincare products, enforcement of government regulations in favor of anti-aging solutions, rise in awareness regarding anti-aging skincare products such as hyaluronic acid serums, growth in consciousness regarding beauty, and rise in a number of skin diseases.”

Exporters in both developed and developing nations faced several difficulties because of the COVID-19 epidemic. The implementation of lockdown and curfew procedures on a global scale had an impact on both domestic and foreign manufacturers of hyaluronic acid serums, which in turn hinderedHyaluronic Acid Serums Market expansion. As a result, the COVID-19 epidemic had a quite negative influence on the hyaluronic acid serum market in 2020 because of decreased company sales and operations being suspended.

The major players included in Hyaluronic Acid Serums Market Analysis are Anika Therapeutics, Inc., Biocrown Biotechnology Co, DIME Beauty Co, Dr. Dennis Gross, Drunk Elephant (Shiseido), First Aid Beauty (P&G), Glossier, Hyalogic, La Roche-Posay, Maruha Nichiro, Inc., Paula's Choice, Peach & Lily, Salix Pharmaceuticals, Season Cosmetics Co, Seikagaku Corporation, SkinCeuticals, SkinMedica (Allergan), Smith & Nephew Plc, The Ordinary, and Vichy.

Key Market Findings 

• By type, the facial care segment dominated the global market in 2021 and is expected to remain dominant during the Hyaluronic Acid Serums Market Forecast period.
• By molecular weight, the lower molecular weight segment dominated the global market in 2021 and is expected to remain dominant during the forecast period.
• By gender, the women segment dominated the global market in 2021 and is expected to remain dominant during the forecast period.
• By distribution channel, the specialty stores segment dominated the global market in 2021 and is projected to remain dominant during the forecast period.
• By region, Europe dominated the market in 2021 and is expected to remain dominant during the forecast period.