<p>Hyaluronic acid is a non-sulfated glycosaminoglycan polysaccharide that occurs naturally in extracellular and intracellular matrices throughout the body. It plays a pivotal role in the medical and cosmetic fields by participating in various physiological processes, viz., skin moisture, and supports joint lubrication. Further, it contributes to eye structural integrity, collagen synthesis, anti-inflammatory activity, tissue repair, and red blood cell production. Furthermore, it exhibits unique properties, which include viscoelasticity, biocompatibility, hygroscopic nature, and moisture retention abilities that underscore its importance in skin care. Presently, its market potential lies on the side due to low yield and high extraction costs from different sources, either natural or synthetic. Based on its molecular weight, it plays a critical role in topical formulations. To overcome the limitations of natural sources, the researchers have endeavoured to synthesise or use the derivatised HA in designing optimised formulations. Thus, this review focuses on its aspects, which start from its extraction procedures and further signify the natural, synthetic, or derivatised HA in the advancement of skin care and cosmeceuticals. This review also includes the nanocarriers that the researchers designed to improve their activity in skincare and cosmetics. The authors have also described the recent studies, clinical trials, and safety concerns related to HA to improve its role in skincare and cosmeceuticals.</p><p><b>Lay Summary</b></p><p>Hyaluronic acid (HA) is a natural substance found in the body that plays a key role in keeping the skin hydrated, lubricating joints, and supporting eye health. It helps in collagen production, tissue repair, and reducing inflammation, making it a vital ingredient in medical and cosmetic applications. HA is widely used in skincare products because of its ability to retain moisture and improve skin elasticity, making skin look youthful and hydrated. However, extracting HA from natural sources can be expensive and inefficient, leading scientists to explore synthetic and modified versions to make them more accessible. Depending on its molecular weight, HA serves different functions in topical skincare formulations, with some types penetrating deep into the skin for long-lasting hydration and repair. This review highlights HA’s extraction methods, natural and synthetic variations, and their role in skincare advancements. It also explores nanocarrier-based delivery systems designed to enhance HA’s effectiveness in beauty and cosmetic products. Additionally, the review discusses the latest research, clinical trials, and safety aspects of HA, ensuring its continued development in the cosmeceutical industry. By understanding these aspects, researchers and skincare professionals can improve HA-based formulations for better skin health and anti-ageing benefits.</p> Graphical Abstract <p></p>