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Hyaluronic acid beauty products sales to reach USD4 billion by 2031

Source:Transparency Market Research Release Date:2023-03-08 595
Food, Beverage & Personal CarePersonal CareRaw Materials & Ingredients
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Strong demand for skin care products with anti-aging and hydrating characteristics propels the hyaluronic acid beauty products market, according to a study by Transparency Market Research.

The hyaluronic acid beauty products market size reached USD 2.1 billion in 2022 and is projected to expand at a CAGR of 7.4% between 2023 and 2031, according to Transparency Market Research. The market value is estimated to reach USD 4.0 billion by 2031. Growth in demand for skin care products with anti-aging and hydrating characteristics is what propels the global hyaluronic acid beauty products market. Furthermore, increase in prevalence of skin diseases and rise in personal care spending are expected to drive market development.

 

According to the report, the rise in number of elderly people and growing importance of aesthetics will bolster industry growth in Asia Pacific. As skin-related disorders become more common, the market for hyaluronic acid cosmetics is predicted to grow.

 

The changing economic situation due to COVID-19 has led consumers to choose inexpensive skin care items over expensive or specialised ones. Consumers are becoming more interested in hyaluronic acid-based cosmetics as their understanding of skin care products and attention toward aesthetics grows. Major players in the global market are making substantial investments in the R&D of improved and novel products in order to expand their market share.

 

cream_Alexandr Kornienko_Dreamstime.jpg

In serums and creams, hyaluronic acid penetrates the protective layers or the skin, giving the appearance of plumpness and in effect reducing the visibility of wrinkles and fine lines. (Photo © Alexandr Kornienko | Dreamstime.com)


Products containing hyaluronic acid are used to enhance elasticity, skin texture, and increase skin hydration. Hyaluronic acid-based skin care products that moisturise, tone, and hydrate the skin include skin toners, creams, moisturisers, and serums. Hyaluronic acid is a common ingredient in skin treatments used by dermatologists. The humectant property of hyaluronic acid causes it to draw and hold onto water molecules, keeping the skin hydrated. Using hyaluronic acid-containing skin care products helps the skin restore its natural balance and maintain high hydration levels. These benefits are anticipated to drive business opportunities in the global hyaluronic acid beauty products market from 2023 to 2031.

 

Both traditional shops and online retailers provide cosmetic products containing hyaluronic acid. Cost of hyaluronic acid beauty products can vary based on the brand, the kind of product, and purity of ingredients. While price of some hyaluronic acid beauty products is on the higher side, most are still reasonably priced. Hence, increase in demand for reasonably priced cosmetics is anticipated to drive the market for hyaluronic acid beauty products in the near future.



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