Global Vitamin C Market – Industry Trends and Forecast to 2031

Vitamin C Market Analysis and Size

Vitamin C (ascorbic acid) plays a crucial role in the personal care and cosmetics industry, where it is extensively used as an ingredient in various products. Its potent antioxidant properties make it a valuable component in dermatological applications, helping to prevent and treat signs of photoaging and other skin issues such as hyperpigmentation. In addition, vitamin C's ability to combat free radicals and environmental toxins makes it a sought-after ingredient in skincare products. This increasing utilization of vitamin C in the personal care and cosmetics sector is driving market growth, as consumers seek effective solutions for maintaining healthy and youthful-looking skin.

Global vitamin C market size was valued at USD 1.23 billion in 2023 and is projected to reach USD 2.29 billion by 2031, with a CAGR of 8.10% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Market Definition

Vitamin C, also known as ascorbic acid, is a water-soluble vitamin that plays a crucial role in various bodily functions. It is essential for the growth, development, and repair of all body tissues. Vitamin C is also an antioxidant, helping to protect cells from damage caused by free radicals. In addition, vitamin C is necessary for the production of collagen, a protein that helps wounds heal. It also improves the absorption of iron from plant-based foods and helps the immune system function properly. Since the body cannot produce vitamin C on its own, it must be obtained from diet or supplements.

Vitamin C Market Dynamics

Drivers

• Growing Health Awareness  

Consumers are becoming more conscious of the importance of maintaining a healthy immune system, particularly in light of recent global health concerns. Vitamin C is widely known for its immune-boosting properties, as it helps the body fight off infections and illnesses. Additionally, vitamin C plays a crucial role in skin health, aiding in collagen production and promoting a youthful complexion. As people become more health-conscious and seek ways to enhance their overall well-being, the demand for vitamin C products is expected to continue rising. The increasing awareness about the health benefits of vitamin C is driving a surge in demand for vitamin C supplements and fortified foods.           

• Rising Demand for Nutritional Supplements  

Consumers are increasingly turning to supplements to bridge the gap between their dietary intake and the recommended daily allowances of essential nutrients. Vitamin C, being a water-soluble vitamin that the body cannot produce on its own, needs to be obtained through diet or supplements. With hectic lifestyles and changing dietary habits, many people find it challenging to consume adequate amounts of vitamin C-rich foods. As a result, the demand for vitamin C supplements is on the rise, with consumers seeking convenient and effective ways to meet their nutritional needs. The increasing trend towards preventive healthcare and the use of nutritional supplements is driving a significant rise in demand for vitamin C products.

Opportunities

• Growing Demand for Vitamin C in Anti-Aging Products

Vitamin C is known for its ability to stimulate collagen synthesis, which can help improve skin elasticity and reduce the appearance of wrinkles.  As people age, their skin changes such as reduced collagen production and increased free radical damage, leading to wrinkles, fine lines, and other signs of aging. vitamin C's antioxidant properties help protect the skin from oxidative stress, which can accelerate skin aging. With the aging population increasingly seeking ways to maintain youthful-looking skin, the demand for anti-aging products containing vitamin C is expected to grow significantly. The aging population, especially in developed countries, is a significant driver of the demand for anti-aging products.

• Rising Demand for Vitamin C in Functional Foods

Functional foods are those that provide health benefits beyond basic nutrition, often by containing bioactive compounds such as vitamins, minerals, or antioxidants. Vitamin C, with its well-known health benefits, is a popular ingredient in functional foods and beverages. Manufacturers are increasingly incorporating vitamin C into a variety of products, such as fortified juices, snacks, and dietary supplements, to appeal to health-conscious consumers. This trend is driven by consumers' desire for convenient and tasty ways to improve their health, creating a promising market opportunity for vitamin C manufacturers.

Restraints/Challenges

• Limited Shelf Life of Vitamin C     

Vitamin C's sensitivity to light, heat, and air can degrade the vitamin C content, reducing its effectiveness and nutritional value. Manufacturers must take special care in packaging and storing vitamin C products to ensure their quality and potency. Additionally, the need for proper handling and storage practices increases logistical complexities and costs, which can impact the overall affordability and availability of vitamin C products. These factors present a significant challenge for product storage and distribution. 

• Supply Chain Disruptions  

Vitamin C is primarily sourced from natural ingredients such as citrus fruits, which are vulnerable to weather-related events such as droughts, floods, and hurricanes. Additionally, global pandemics, such as the COVID-19 pandemic, can disrupt transportation and logistics, leading to delays in the delivery of raw materials and finished products. These disruptions can result in shortages of vitamin C products in the market, affecting both consumers and manufacturers.Top of Form

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In June 2023, DSM-Firmenich, a prominent company in the vitamin industry, announced the restructuring of its vitamin business. This decision was made in response to prevailing market trends, conditions, and a noticeable weakening of global vitamin markets overall          
• In November 2021, Life Extension, a U.S.-based company specializing in strategies to slow aging and enhance human longevity, introduced a new product called Vitamin C 24-Hour Liposomal Hydrogel Mixture. This innovative product combines 350 mg of vitamin C with a unique liposomal delivery technology, enhancing the body's absorption of vitamin C

Vitamin C Market Scope

The market is segmented on the basis of type, source, process, form, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Sodium Ascorbate
• Calcium Ascorbate
• Potassium Ascorbate
• Magnesium Ascorbate
• Ascorbic Acid 90% Granulation
• D-Isoascorbic Acid
• Ascorbic Acid 95% Granulation
• Ascorbic Acid 97% Granulation
• Coated Vitamin C
• Others

Source

• Natural
• Synthetic

Process

• Reichstein
• Two-stage Fermentation

Form

• Tonic
• Tablet
• Granules
• Injection

Application

• Pharmaceutical
• Cosmetics
• Food and Beverage
• Animal Feed

Vitamin C Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by type, source, process, form, and application as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

North America dominates the market due to rising disposable incomes. In addition, the cosmetic industry's growing demand for vitamin C is expected to fuel market growth in the region.       

Asia-Pacific is expected to show significant growth due to rising demand for vitamin C products. Increased consumer awareness about the benefits of vitamin C, the presence of large pharmaceutical companies and significant consumption in other sectors such as animal feed and cosmetics are also expected to contribute to market growth in this region.

The country section of the report also provides individual market-impacting factors and changes in market regulation that affect the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Vitamin C Market Share Analysis

The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major market players operating in the market are:

• Foodchem International Corporation (China)
• CSPC Pharmaceutical Group Limited (China)
• Glanbia plc (Ireland)
• Northeast Pharmaceutical Group Co., Ltd ( NEPG ) (China)
• Duchefa Biochemie (Netherlands)
• DSM (Netherlands)
•  ADM (U.S.)
• Bayer AG (Germany)
• Abbott (U.S.)
• Merck & Co., Inc. (U.S.)
• Anhui BBCA International Co., Ltd. (China)
• Vitamin Energy (U.S.)
• DuPont (U.S.)
• Sanofi (France)
• Dsm-firmenich (China)

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