Hyaluronic Acid Market Size Worth USD 19.87 Billion in 2032 | Emergen Research
VANCOUVER, B.C., March 7, 2023 /PRNewswire/ -- The global Hyaluronic Acid market size was valued at USD 9.56 Billion in 2022 and is expected to reach valuation of USD 19.87 Billion in 2032 growing at a CAGR of 7.5% during the forecast period, according to a recent report by Emergen Research. The increasing awareness about the health benefits of hyaluronic acid and its widespread use in the cosmetics and healthcare industry are some of the primary factors driving the growth of the hyaluronic acid market.
Hyaluronic acid is a naturally occurring substance in the human body that helps to keep the skin hydrated and lubricated. It is also found in joints, eyes, and other tissues. Hyaluronic acid is used in various cosmetic products, including anti-aging creams, moisturizers, and serums, to hydrate and rejuvenate the skin. It is also used in the treatment of joint disorders, such as osteoarthritis, to lubricate and cushion the joints.
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One of the major factors driving the growth of the hyaluronic acid market is the increasing demand for anti-aging products. The aging population and growing concerns about aging signs such as wrinkles and fine lines have led to an increase in demand for anti-aging products containing hyaluronic acid. Moreover, the rising awareness about the benefits of hyaluronic acid in skin care products has further contributed to the growth of the market.
In addition to its use in cosmetics, hyaluronic acid is also used in various medical applications. It is used in the treatment of joint disorders, such as osteoarthritis, to reduce pain and inflammation. Hyaluronic acid is also used in ophthalmic surgery to protect and lubricate the eye during surgery. The increasing prevalence of joint disorders and ophthalmic diseases is expected to drive the growth of the hyaluronic acid market in the coming years.
Furthermore, the increasing focus on research and development activities to develop innovative hyaluronic acid-based products is expected to drive the growth of the market. Various companies are investing in research and development activities to develop new products and expand their product portfolio. For instance, in 2021, Kikkoman Corporation, a Japanese food and beverage company, announced the development of a new hyaluronic acid-based food product that helps to improve skin health.