Global Ascorbic Acid Market Size, Share, Opportunities, And Trends By Form (Powder, Liquid), By Application (Food And Beverage, Pharmaceuticals, Nutraceuticals, Cosmetics And Personal Care, Pet Food, Animal Feed), And By Geography - Forecasts From 2023 To 2028

The ascorbic acid market is projected to grow considerably during the forecast period.

Ascorbic Acid, also commonly known as Vitamin C, is a dietary supplement and a water-soluble vitamin, which means that it dissolves into water and then transfers into the body’s tissues. It doesn’t have properties that allow it to last long and due to this, it is required to be consumed daily.  It provides many benefits for the human body, which include controlling infections and healing wounds, acting as an effective antioxidant, and can neutralize any harmful radicals. Most animals can produce Vitamin C and D-glucose naturally but humans and other primate organisms are exceptions and will require the consumption from external sources. This is due to the lack of a key enzyme known as L-3 gluconolactone oxidase, which is required for the natural production of Vitamin C.

Introduction:

Ascorbic Acid, also known as Vitamin C, is a very popular dietary supplement that aids in the protection of cells, maintaining healthy skin, blood vessels, bones and cartilage, and increases the body’s repair mechanics. Vitamin C can be found in a variety of fruits and vegetables, a few of which include citrus fruits such as oranges and juices, strawberries, black currents, broccoli, potatoes and Brussels sprouts. As per the Dietary Guidelines, Children & adolescents up to 19 years need 40mg of vitamin C per day and should keep at least the bare minimum to have a healthy body and mind.

Taking large amounts of Ascorbic acid a day can lead to various issues. More than 1000mg of Vitamin C per day can lead to stomach pain, diarrhoea, and flatulence. Consumption of recommended amounts can help the body prevent various health problems such as heart diseases, high blood pressure, common cold, cancer, osteoarthritis, and age-related macular degeneration, which is the leading cause of blindness. It has also been proven to increase the immunity power of the body, reduce sunburn, and improve eyesight.

Drivers:

• Increasing popularity of cosmetics: Skincare products have increased in popularity due to the benefits most of the products provide to improve skin conditions. The efficacy of Vitamin C lotion has proved to provide multiple benefits to the skin, which include improvement of skin colour, improvement of skin elasticity and firmness, and reduction of facial wrinkles. Vitamin C is popular for avoiding many skin ailments such as sunburn, photoaging, hyperpigmentation and wrinkle formation, and solutions for the ailments have already been created in the form of products in the form of oral supplements and topical applications. This helps in the expected growth of the vitamin C market in the projected years.
• Gaining traction of health benefits: The topmost occurring health conditions worldwide are cardiovascular diseases and cancer which were estimated to be 20.5 million (2021). Vitamin C has proven to help prevent chronic diseases like cardiovascular diseases and cancer. Studies have proven that lower amounts of vitamin C in the body can lead to an increased risk of heart attack, stroke or peripheral artery diseases. It has also been proven that the consumption of Vitamin C-rich products can help with reduced risk of cancer, mainly skin cancer, cervical dysplasia, and breast cancer. The forms through which vitamin C is available are in tables, chewables and capsules for medicinal consumption.

Key Players:

• BASF SE: A European multinational company that is known for being the largest chemical producer in the world.
• Koninklijke DSM NV: A Dutch multinational company that is active in the fields of health, materials and nutrition.
• Merck KGaA: A German multinational science and technology company that provides solutions to more sustainable ways of living.

Regional Analysis:

The Asia Pacific region is expected to have significant growth in the forecasted period of 2024 – 2029. As of 2022, the highest export of Vitamin C and its production is held by China, which is around 192 million kg valued at US$802 million. Since the gap between the top exports between China and the Netherlands is wide, the top power in the Vitamin C market is held by China. The top import is by the European Union, which imports 69 million kg as of 2022.Therefore, Asia Pacific is expected to hold its top position in the Vitamin C market in the forecasted period.

Market developments:

• May 2023: Vidya herbs introduced new technology to optimize Vitamin C which reduces degradation, sustains release and enhances absorption through Fiber Interlaced Liposomal (FIL). Vitamin C is known to be easily degradable and doesn’t last very long, but the technology Vidya Herbs has introduced will make Vitamin C more stable and last longer.
• September 2022: Nutriventia introduced a new product, dubbed C-Fence, which is a direct-compression granule made with the company’s modified-release technology. It has proven to require smaller dossed and higher levels of Vitamin C absorption than normal, with an efficiency lasting 24 hours.

Segmentation:

• By Form
  • Powder
  • Liquid
• By Application
  • Food and Beverage
  • Pharmaceuticals
  • Nutraceuticals
  • Cosmetics and Personal Care
  • Pet Food
  • Animal Feed
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others