Hyaluronic Acid Personal Care Products Market Growth 2023- Industry Size, Upcoming Trends, Revenue, key Manufacturers, Future Opportunities, Challenges and Forecast 2032: SPER Market Research

Hyaluronic acid enhances the appearance of skincare products by lessening flaking and giving dry or injured skin back its suppleness. Hyaluronic acid, for instance, can improve skin texture overall, fill up the skin, and decrease wrinkles. The cream also has qualities that keep moisture in the film, prevent wrinkles and irritation, supply nutrients, and scavenge free radicals. Cosmetic-grade hyaluronic acid is becoming more and more common in skincare, cosmetics, cleaning products, and hair care because of these advantages.

According to SPER market research, ‘Hyaluronic Acid Personal Care Products Market Size– By Product, By Price, By Application, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the Global Hyaluronic Acid Personal Care Products Market is predicted to reach USD 7.06 billion by 2032 with a CAGR of 8.94%.

The growing anxiety regarding the ageing population can be linked to the market’s expansion. The rise of these items is fueled by their simple accessibility without a prescription through online retail stores and other sales channels, such as beauty salons, pharmacies, supermarkets, and specialised shops. Hyaluronic acid, for instance, can improve skin texture overall, fill up the skin, and decrease wrinkles. The cream also has qualities that keep moisture in the film, prevent wrinkles and irritation, supply nutrients, and scavenge free radicals. Cosmetic-grade hyaluronic acid is becoming more and more common in skincare, cosmetics, cleaning products, and hair care because of these advantages.

However, the cost of producing high-quality hyaluronic acid (HA) can prevent some producers from entering the market, which has an impact on the availability and cost of their products. It can be difficult and time-consuming to meet regulatory criteria and get approvals for personal care products based on HA, which causes delays in product introductions. While the benefits of HA for skincare and cosmetics are becoming well known, customers still need to be educated on its efficiency and applications. The availability of substitutes restricts the market’s expansion for hyaluronic acid. The demand for skin care ingredients including ceramides, sqaulene, vitamin C, and others is limiting the market growth of hyaluronic acid. Using an emollient, or skin softener, such as a moisturiser enhanced with squalene and ceramides, is also more effective.

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Impact of COVID-19 on the Global Hyaluronic Acid Personal Care Products Market 

Moreover, resources were shifted towards medically necessary products as a result of the COVID-19 epidemic, which led to a worldwide financial and medical disaster. Early on in the pandemic, the manufacture of HA and the industrial supply chain were both impacted, which hindered the development of HA personal care products. During the pandemic, many companies that manufacture a wide range of HA personal care products reported large declines in net revenues as well as a decline in sales of HA-based products. Additionally, brick-and-mortar drugstores and mass markets had a large decline in sales during the pandemic due to travel restrictions, whereas e-commerce sales of beauty care products based on HA saw a remarkable rise.

Hyaluronic Acid Personal Care Products Market Key Players:

Geographically, North America dominated the world market for hyaluronic acid. This is due to the large proportion of elderly people in society, who are more vulnerable to conditions including osteoarthritis, vesicoureteral reflux, and cataracts. Additionally, a significant factor in the vast majority of North America is the growing popularity of minimally invasive aesthetic operations. Additionally, some of the market key players are Allergan Plc., Anika Therapeutics Inc., Bausch Health Companies Inc., Lifecore Biomedical LLC, Nestle, Sanofi, Zimmer Biomet, Others.