HYALURONIC ACID Market

The global hyaluronic acid market is expected to register a healthy CAGR of 7.02% during the forecast period. The growth of the global market is attributed to the widespread use of hyaluronic acid in cosmetic & personal care products such as face cream, moisturizer, lipstick, eye shadow, shampoo, and many others. Another key driver of the global hyaluronic acid is its use as dermal and lip filler in cosmetic surgery. The increasing consciousness about appearance coupled with the high disposable income has resulted in high demand for cosmetic & personal care products as well as cosmetic surgeries across the globe. The use of hyaluronic acid in treatment of dry eye and osteoarthritis, along with many other diseases is another driver of the global market. However, availability of substitutes is a major factor expected to restrain the market growth during the assessment period.

Hyaluronic acid is well known for its skin benefits such as alleviating dry skin, reducing the appearance of fine lines, wrinkles, redness, and dermatitis. Hyaluronic acid helps to retain over 1,000 times its weight in water within the cells of the skin, making it an excellent moisturizer. It helps improve skin hydration and production of collagen, fight free radicals, and maintain skin elasticity. It also acts as a humectant, a category of skincare ingredient that is hygroscopic, which draws moisture from the surroundings.

A person loses collagen and hyaluronic acid naturally as he/she ages, and the skin becomes dehydrated easily. Climatic conditions, ultraviolet radiation, and pollution cause tiny breaks in the protective skin barrier, allowing water to escape, which increases the demand for hyaluronic acid. Supplements of hyaluronic acid prevent the loss of water, thus giving the body extra amount of hyaluronic acid to incorporate into the skin. An average dose of 120–240 mg per day for at least one month can help to significantly increase the moisture of the skin. It is widely used in personal care and cosmetic products such as facial creams, masks, serums, moisturizers, lipstick, eye shadow, foundation, shampoo, hair conditioner, styling gel, and others.

The use of hyaluronic acid also provides the skin with an antioxidant defence to fight UV damage. It exhibits antibacterial and anti-inflammatory properties that help with wound healing. Additionally, it is used to thicken the aqueous portion of cosmetics and personal care products. According to L’OREAL, the skincare market is expected to exhibit a CAGR of over 9% in the coming years.

With the growing demand for anti-ageing products and multifunctional personal care products among the consumers, the personal care product manufacturers are adopting multi-functional and multiple ingredients in a single product trend. According to the report published by the United Nations, in 2015, the geriatric population (aged 60 years and above) between 2015 and 2030 is expected to grow from 901 million to 1.4 billion. The growth in the population across the globe is expected to increase the adoption of anti-ageing creams and lotions, which consequently is expected to fuel the demand for hyaluronic acid across the globe. Moreover, the players in the personal care & cosmetics market are focusing on strategic growth such as product launches, expansion, and acquisitions to attract a large consumer base and establish their position. For instance, L’Oréal launched Revitalift Derm Intensives 1.5% Pure Hyaluronic Acid Serum in October 2018, which is now the No. 1 mass-market serum. According to Nielsen, it has already become so popular that one is sold every minute in the US.

Thus, the growth of the global cosmetics market is expected to increase the demand for hyaluronic acid and drive the growth of the global market during the review period.

According to an article published by Arianna Fallacara, Erika Baldini, Stefano Manfredini, and Silvia Vertuani in the MDPI journal in June 2018, hyaluronic acid is being studied across a variety research area. Hyaluronic acid and its derivatives are being used alone or in combination with other substances to develop pro-drugs, surface-modified liposomes, nanoparticles, microparticles, hydrogels, and other drug carriers. Hydrogels prepared from hyaluronic acid and its chemical derivatives are 3D polymeric networks and can be used in topical delivery of cells and many active ingredients, such as anti-inflammatories, anti-bacterial, antibodies, and proteins in general.

Studies show that the receptor CD44 is overexpressed in a variety of tumour cells, which consequently displays an increase of hyaluronic acid binding and internalization. Hence, the receptor CD44 has been identified as a potential target in cancer therapy, while hyaluronan is recognized as its primary ligand as a powerful tool to develop targeted therapies. The other research works have shown that hyaluronic acid can act as a drug carrier and targeting agent at the same time, under the form of polymer-antitumoral conjugates or delivery systems encapsulating anti-cancer drugs.

Moreover, hyaluronic acid and its synthetic derivatives can be used as 3D scaffold structures, which represent physical support systems for in-vitro cell culture. For instance, hyaluronic derivatives characterized by aldehyde and hydrazide groups have been used to develop a biomimetic, a 3D culture system for poorly adherent metastatic prostate cancer cells, employed as an in vitro platform to test the efficacy of anticancer drugs.

The extensive research in line with the use of the product in a wide range of applications is expected to create lucrative opportunities for the players operating in the global market.

Some of the substitutes for hyaluronic acid available in the market include rose oil, tamarind extract, senna plant extract, and tremella mushroom extract. Rose oil is a natural substitute for hyaluronic acid. It is extremely hydrating and increases the permeability of the skin. Besides making the skin soft, supple and plump, it also facilitates the absorption of skincare products into the skin, which consequently enhances the skin texture. Rose oil also acts as an anti-inflammatory agent due to its vitamin-packed properties and thus has an added benefit of soothing redness.

Indena S.p.A., an Italian-based ingredients company, launched tamarind extract in 2011, named Xilogel, which has a similar structure and function as that of hyaluronic acid. Xilogel has strong anti-ageing and hydrating properties and can be used as a moisturizing and rejuvenating ingredient. The company called Xilogel a “green alternative” to hyaluronic acid, as it is extracted and purified from the tamarind seed. Additionally, Xilogel has useful characteristics within a formulation and can help stabilize emulsions and form a gel when added to water.

Senna plant extract, which is a natural botanical alternative to hyaluronic acid, is used for intense moisturisation to smooth and plump the skin’s surface, helping to reduce the appearance of fine lines and wrinkles. It is derived from the seeds of the plant called Cassia Angustifolia.

The tremella mushroom extract is a plant-based alternative to standard hyaluronic acid, having a superior water retention capacity. It can efficiently moisturize skin and hair. Its softness also makes it a natural alternative to silicones.

Thus, the increasing preference for natural cosmetics and personal care products with the availability of substitutes are expected to negatively impact the growth of the global hyaluronic acid market during the review period.