Global Hydroxyproline Market Size, Forecast, and Trend Highlights Over 2022 – 2031
The global hydroxyproline market is estimated to garner a revenue of ~USD 120 million by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022–2031. Further, the market generated a revenue of ~USD 65 million in the year 2021. The primary growth factor for the market growth is the expansion of the pharmaceutical industry. The high utilization of hydroxyproline in the pharmaceutical sector is attributed to bolstering the sales of hydroxyproline in the assessment period. Recent calculations revealed that the pharma revenues generated worldwide in 2020 totaled USD 1.30 trillion.
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Hydroxyproline (HYP) is a collagen part of the protein and has important role to plays in the stabilization of the triple helix of collagen. The recent study found out that the increased levels of hydroxyproline in the urine and/or serum are usually related to connective tissue deterioration. Hydroxyproline is also a type of non-essential amino acid, accounting for approximately 13 percent of the total amino acids of collagen. Moreover, the recent focus on being fit and switching to a healthy lifestyle across the globe is expected to increase the adoption rate of the hydroxyproline. Thus, an increased expenditure on medicines is anticipated to expand the hydroxyproline market size in the upcoming period. It is being forecasted that the global medical spending is to reach around USD 1 trillion by 2024, with a growing rate of 5% annually.
Global Hydroxyproline Market: Growth Drivers and Challenges
Burgeoning Population – The expansion of the world’s population is a sign of rising diseases and illnesses, which is further anticipated to propel the market growth. According to the World Bank, the world's population will be 7.84 billion in 2021.This is a considerable rise from the year 2012, with a total population of 7.09 billion.
Growing Geriatric Population – According to a recent United States report, there were 703 million people in the world aged 65 and over in 2019. The elderly population is expected to more than double to 1.5 billion by 2050.
Rising Beauty Industry - The rapid growth in the beauty industry and the huge demand for cosmetic products such as hair spray, hair conditioner, and skincare products, is anticipated to fuel the global hydroxyproline market over the forecast period. The global beauty industry is forecasted to generate a revenue of USD 720 billion by 2025. Further, it is being disclosed that in 2020, the global spending of the beauty industry amounted to USD 485 billion.
Boom in the Chemical Industry - In the year 2021, the global chemical industry generated a revenue of USD 5 trillion.
- Lack of Sensitivity at Low Concentrations
- Huge Percentage of Variability
- Restriction of Consumption in Various Occasions
Then hydroxyproline market is segmented and analyzed for demand and supply by application into pharmaceutical intermediate, cosmetics, food, dietary supplement, and others. Out of these, the cosmetics segment is expected to garner the highest revenue by 2031. The cosmetic industry has grown in response to the growing population. The hydroxyproline market is expected to grow as a result of rising businesses and high employment in the cosmetic industry. A recent report stated that the total number of employees employed in the U.S. beauty and cosmetic industry was approximately 54,490 in 2021, which rose to 55,990 in 2022.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Hydroxyproline Market Regional Synopsis
Regionally, the global hydroxyproline market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these, the market in North America is projected to hold the largest market share by the end of 2031. The high expenditure on the healthcare sector is expected to be the primary growth driver for the market in the region. According to the Centers for Medicare and Medicaid Services, health-care spending in the United States increased 9.7 percent in 2020 to USD 4.1 trillion, or USD 12,530 per person. This figure is equivalent to 19.7% of the nation’s gross domestic product (GDP). Further, the high utilization rate of cosmetic and personal care products is anticipated to augment the hydroxyproline market in the forecast period. A recent published report suggested that the cosmetics industry in the United States accounted for almost USD 50 billion worth of revenue in 2022.
The global hydroxyproline market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global hydroxyproline market includes the following segments:
Top Featured Companies Dominating the Global Hydroxyproline Market
KYOWA HAKKO BIO Co., Ltd
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- Risk Analysis
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- Henan Senyuan Group Co., Ltd.
- Evonik Industries AG
- Fengchen Group Co.,Ltd
- Merck Group
- Thermo Fisher Scientific Holdings, Inc.
- EnColl Corporation
- Wuxi Jingyao Biotechnology Co., Ltd.
- BASF SE
- Wuhan Dico Chemical Co., Ltd.