Report ID: UCMIG35H2134
Report ID:
UCMIG35H2134 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market for hyaluronic acid-based personal care products was estimated at USD 3.0 billion in 2022 and is anticipated to increase at a CAGR of 8.7% during the forecast period. 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 (HA) was traditionally used in high-end skin care formulations for personal care products. However, the price and difficulty of collecting and processing HA have dropped as a result of ongoing technical improvements.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Biotechnology by segment aggregation, the contribution of the Biotechnology in Pharmaceuticals, Biotechnology & Life Sciences and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35H2134