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The US$ 16.4 Billion Hyaluronic Acid Market’s Surge by 2032, Fueled by Demands for Enhanced Products
The hyaluronic acid market is poised to hit around $16.4 billion by 2032, driven by increasing demand for nutrient-rich products, prompting major producers to integrate hyaluronic acid for market advantage.
According to Future Market Insights (FMI), the global hyaluronic acid market is set to witness growth at a CAGR of 6.4% and is anticipated to reach a valuation of around US$ 16.4 Billion by 2032.
Expanding consumer demand for nutrient-dense foods and supplements is thought to be the primary driver of market growth. Therefore, big producers are gradually incorporating fortified components like hyaluronic acid in their goods in order to capitalise on the rising demand.
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Application in dietary supplements with fortified nutrients for general human body development is projected to fuel the increase as customers become more aware of hyaluronic acid’s advantages.
The cells of the human body contain the naturally occurring molecule hyaluronic acid. The fluids of the eyes and joints have the highest levels of hyaluronic acid.
Hyaluronic acid demand is therefore anticipated to increase throughout the course of the assessment period in the pharmaceutical and cosmetics industries. This is as a result of its nutrition and moisturising properties, which moisturise and plump the skin.
Key Takeaways from Market Study
Based on grade, the pharmaceuticals segment is anticipated to account for around 33.2% of the market share over the forecast period.
North America hyaluronic acid market is expected to witness a lucrative growth rate of 7.0% CAGR during the forecast period.
East Asia is expected to account for 25.6% in the global hyaluronic acid market through 2032.
In terms of end-use, the food industry is expected to hold a market share of over 15.2% over the forecast period
“Manufacturers are developing hyaluronic acid-based supplements and injectable in response to the rising incidence of osteoporosis and rheumatoid arthritis. As a result of growing prevalence of bone and joint problems, the market for hyaluronic acid is expected to increase significantly during the forecast period.” says a Future Market Insights analyst.
Competitive Landscape
Market participants are always pursuing joint ventures, mergers and acquisitions, and other strategic efforts. Archer Daniels Midland Company and Royal DSM are two significant companies attempting to expand their global footprints and capacities.
Leading corporations in fast-growing regions such as East Asia and South Asia are also striving to broaden their product lines in order to get a competitive advantage.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global hyaluronic acid market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on grade (cosmetics industry, pharmaceutical industry, dietary supplements), end-use (pharmaceutical industry, dermatology clinics & cosmetic surgery centers, food industry, personal care) across seven major regions of the world.
Hyaluronic Acid Market by Category
By Grade:
Food Grade
Pharmaceutical Grade
Dietary Grade
By End-Use:
Pharmaceutical Industry
Dermatology Clinics & Cosmetic Surgery Centers
Food Industry
Personal Care
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa
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The Growth of the Frozen Seafood Market to US$ 37.4 Billion by 2033 Surge Amidst Global Consumption Shifts
The market for frozen seafood is anticipated to be worth US$ 19,382.3 million by the end of 2023. It is set to expand at a CAGR of 6.8% between 2023 and 2033. By 2033, the market is projected to contribute a value of US$ 37,398.5 million.
Global fish consumption has increased significantly during the last few decades. As living standards rise, it is anticipated that the consumption of seafood would increase in emerging economies like those in Latin America and the Asia-Pacific region. The millennial generation’s growing consciousness of the benefits of consuming seafood will also have an impact.
A significant source of nutrition in many countries, especially those where the diets are low in protein, is fish protein. Seafood provides a lot of other important nutrients in addition to protein. Among the fish and shellfish that are particularly high in zinc, selenium, and vitamin B1 are salmon, prawns, and clams.
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Omega-3 fatty acids, particularly eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), are mostly found in seafood. Because of its high nutritional content, seafood provides protection against a variety of health issues.
Consumption of seafood has increased as a result of the idea that eating seafood is healthy, and output is predicted to rise steadily as a result. Less waste, better utilisation, and improved distribution techniques would all be advantageous.
In locations where fresh seafood is more difficult to find, frozen seafood is more prevalent because it can be stored for a long period. This suggests that even those who live far from the coast or in an area with few transportation options can enjoy seafood all year round. Additionally, frozen seafood is simpler to transport than fresh seafood, which can be highly delicate and require special treatment.
Due to high demand and the scarcity of some species, fresh seafood can be pricey; nevertheless, frozen seafood is typically less expensive. Bulk frozen fish purchases provide for even greater cost reductions and more economical meal preparation.
Due to improvements in freezing technology, sales of frozen seafood are anticipated to increase drastically worldwide. Thanks to contemporary technology, it tastes almost as fresh as its unfrozen counterpart. As a result, frozen seafood is now more widely accepted and has less of a stigma connected to it.
Key Takeaways from Frozen Seafood Market Study
The global frozen seafood industry expanded at a CAGR of 4.9% from 2018 to 2022.
The USA frozen seafood industry is anticipated to reach a valuation of US$ 9,217.8 million by 2033.
A CAGR of 6.4% is expected from India’s frozen seafood industry from 2023 to 2033.
In 2033, China frozen seafood industry is expected to contribute a value share of 49.4%.
Based on product type, the frozen crab segment is estimated to hold a global market share of 27% in the forecast period.
“It is projected that advancements in refrigeration would propel the market in both commercial and industrial settings. Growth is also connected to ongoing advancements in sophisticated distribution systems. Technological advancements in seafood product storage, processing, and packaging have further contributed to the expansion of the global frozen seafood industry.” – Says a lead analyst.
Competitive Landscape: Frozen Seafood Market
As the need for novel formulations from the food & beverage industry increases, leading frozen seafood manufacturers are concentrating on products delivering a wide range of health advantages. Consumption of frozen fish has grown over time among all populations.
Leading producers of frozen fish are working to gain a high market share through partnerships, mergers, and acquisitions while continuing to develop new product lines. Due to the increased need for innovative formulations from the food & beverage industry, top frozen seafood manufacturers are likewise concentrating on releasing upgraded and modified items.
For instance,
In August 2021, Frozen Fish Direct introduced its latest user-friendly e-commerce site. While numerous individuals enjoy eating fish, Frozen Fish Direct is aware that they might not always be able to find fresh kinds at their neighborhood grocery. This information motivated Frozen Fish Direct to develop and launch their brand-new online store, providing its devoted clients with a convenient and stress-free option to buy for a large selection of fish and seafood.
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Get Valuable Insights on Frozen Seafood Market
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the frozen seafood industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from (2023 to 2033). The study divulges compelling insights on the demand for frozen seafood based on frozen seafood industry by product type (tuna, rainbow trout, sardines, mackerel, herrings, salmon, shrimp, crab, lobster, krill), nature (organic, conventional), form (whole, fillet), end use (food processing industry, food service industry, retail/household), distribution channel (B2B, B2C, online retailers), and regions.
Frozen Seafood Market Outlook by Category
By Product Type:
Tuna
Rainbow Trout
Sardines
Mackerel
Herrings
Salmon
Shrimp
Crab
Lobster
Krill
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