The global market for hyaluronic acid personal care products is projected to reach $7 billion by 2033. This represents a significant increase from the $3 billion projected for 2023, with the market expected to grow at a CAGR of 8.1%.
The growth of the market can be attributed to the increasing concern about the appearance of aging skin among the population. These products can be easily purchased through various channels, including online, beauty salons, pharmacies, supermarkets and specialty stores, without the need for a prescription.
Hyaluronic acid is a popular ingredient in skincare products due to its ability to reduce flaking and restore suppleness to damaged or dry skin. It can be used to reduce wrinkles and fine lines, plump up the skin, and improve overall skin texture. It is also used in makeup, cleansing and hair care products.
The demand for hyaluronic acid in personal care products is driven by a variety of factors, including changing lifestyles, eating habits and busy schedules, which can lead to a variety of skin problems. In addition, consumers are becoming increasingly conscious of skin care and are looking for products that are ingredient-based and cruelty-free.
Top personal care brands are diversifying their portfolios to include innovative and authentic products. For example, companies such as JeNu have developed a hyaluronic acid-infused eye serum that claims to reduce wrinkles and puffiness, and a hyaluronic acid moisturizer that claims to reduce dryness and wrinkles.
The companies are also investing in a wide range of combination products to meet the needs of customers. For example, Givaudan Active Beauty launched its patented Cristalhyal e-Perfection, a complex of high molecular weight hyaluronic acid and bentonite clay, in March 2022.
The market for hyaluronic acid personal care products is expected to be driven by an increase in demand for personal care products that are ingredient-based and cruelty-free. The companies are also collaborating with celebrities and social media influencers to increase awareness about the benefits of hyaluronic acid to target these nature-sensitive consumers.
After the pandemic, consumers became more conscious of skincare and began using plant-based or natural products to rejuvenate their skin. HA topped the list of rising sun care constituents with 1,900 monthly searches from April 2020 to March 2021, versus April 2021 to March 2022, based on data collected from United States web searches.
The market is expected to experience short-term growth during the post-pandemic period as retailers and e-commerce platforms offer discounts and value packs, which increase consumer spending and enhance brand awareness. Mid-term growth is driven by consumers becoming increasingly tech-savvy, concerned about sustainable manufacturing and inclined to custom-made solutions. Long-term growth is driven by a growing medical beauty trend and a booming demand for cosmeceuticals, which has given the hyaluronic acid personal care products market the opportunity to offer skin care-conscious consumers innovative and personalized products.
Scope of Report
- Forecast Period – 2023 to 2033
- Historical Data Available for – 2018 to 2022
- Market Analysis – US$ million for Value and MT for Volume
Key Regions Covered
- North America
- Latin America
- The Middle East and Africa
- East Asia
Key Countries Covered
United States, Canada, Brazil, Mexico, Chile, Peru, Germany, United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Türkiye
Key Segments Covered
- Distribution Channel
Key Companies Profiled
- Shiseido Co., Ltd.
- L’oréal Paris
- La Roche Posay
- Johnson & Johnson Consumer Inc. (Neutragena)
- The Ordinary (Deceim Beauty Group, Inc.)
- Heraux (Carthronix)
- Innisfree (Amorepacific US, Inc.)
- Saro De Rúe
- Beautiful Korea
Report Coverage – Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
By Category By Product:
- Skin Creams
- Skin Lotions
- Dermal Fillers
By Distribution Channel:
- Specialty Stores
- Company Owned Websites
- Online Retailing
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