Hyaluronic Acid Personal Care Products Market Size, Share & Trends Analysis Report By Type (Creams, Serums, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2023 - 2030

Hyaluronic Acid Personal Care Products Market Size, Share & Trends Analysis Report By Type (Creams, Serums, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2023 - 2030

Hyaluronic Acid Personal Care Products Market Growth & Trends

The global hyaluronic acid personal care products market size is expected to reach USD 6.0 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.7% from 2022 to 2030. Increasing demand for ingredient-based and animal cruelty-free personal care products from the target population is expected to drive market growth. Furthermore, to target these nature-sensitive consumers, the companies are collaborating with celebrities and social media influencers to increase awareness regarding the benefits of Hyaluronic Acid (HA).

Hydration of the skin is one of the major problems for skin health. HA is one of the ingredients that have the ability to improve hydration in the skin. Many formulations are available in the market that enhances skin plumping and skin hydration by around 55% owing to the rise in dermal hyaluronan in all types of Fitzpatrick skin types. HA majorly holds moisture by binding water up to 1,000 times its volume and offers radiance & firmness to the skin. A low penetration rate is associated with high molecular weight HA when used topically, hence, low molecular weight is commonly used in topical products.

The COVID-19 pandemic has changed consumer purchasing decisions and habits. With the rising disposable income, consumers have increased spending on personal care products. Hence, to target the premium class of consumers, companies are offering various personalized products to increase brand loyalty. For instance, in May 2021, La Roche-Posay expanded Anthelios portfolio with the launch of Daily Mineral SPF Moisturizer with HA and Cell-Ox Shield. Furthermore, retailers and e-commerce platforms offer discounts and value packs, which has resulted in increased spending by consumers and enhanced brand awareness.

Hyaluronic Acid Personal Care Products Market Report Highlights

• On the basis of type, the market is segmented into serums, creams, and others. The cream segment dominated the market in 2022 with the largest market share. The high efficacy and longer lasting effect of HA are driving the demand for its application in skin care creams, aiding segment growth
• The serum segment is expected to exhibit the fastest growth during the forecast period owing to increasing awareness for antiaging products and demand for advanced and highly effective solutions
• The role of advertisement and marketing is invariable and induces consumers, especially women, to buy personal care products. Many companies are launching advertisement campaigns to raise awareness of the benefits
• The key players in the market are launching a range of HA-based products in developing countries which includes HA creams, primarily focusing on consumers with dry skin. For instance, in Aug 2022, Laneige launched new water blank blue HA range in India
• Some cosmetic companies launched products containing HA or hyaluronates in combination with other active ingredients such as vitamins, botanical extracts, probiotics, peptides, amino acids, and proteins. These compounds enhance the qualities and benefits of cosmetic formulation. For instance, in March 2022, Givaudan Active Beauty launched the patented Cristalhyal e-Perfection, a complex of high molecular weight HA and bentonite clay, manufactured through the process of iontophoresis