Global Vitamin C Market, By 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 Process, Two-stage Fermentation Process), Form (Tonic, Tablet, Granules, Injection), Application (Pharmaceutical, Cosmetics, Food and Beverage, Animal Feed)– Industry Trends and Forecast to 2029.
Global Vitamin C Market Analysis and Size
Vitamin C's significance in the food and beverage business is linked to the industry's rapid growth and, as a result, its increased demand as a preservative. Vitamin C aids in the absorption of iron in the body, making it an important ingredient in iron-processed meals. In the meantime, it is critical for the stabilization of micronutrients. Importantly, the US Food and Drug Administration has made micronutrient meals fortification necessary to provide nutritious food to the global population.
- Data Bridge Market Research analyses that the vitamin C market was valued at USD 1,057.27 million in 2021 and is expected to reach USD 1,899.69 million by 2029, registering a CAGR of 7.60% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Global Vitamin C Market Definition
Vitamin C is one of the most important nutrients, as it can protect the body against a variety of ailments such as cardiovascular disease, foetal health problems, and eye diseases, among others. Lemon, orange, kiwifruit, and other vitamin C-rich fruits and vegetables are readily available on the market and offer a variety of health benefits to customers.
Report Scope and Market Segmentation
2022 - 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
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 Process, Two-stage Fermentation Process), Form (Tonic, Tablet, Granules, Injection), Application (Pharmaceutical, Cosmetics, Food and Beverage, Animal Feed)
U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA)
Market Players Covered
Foodchem International Corporation (China), Mudanjiang High-Tech Biochemical Co. Ltd. (China), Amway India Enterprises Pvt. Ltd (India), CSPC Pharmaceutical Group Limited (China), Glanbia plc (Ireland), Northeast Pharmaceutical Group Co.,Ltd. (China), The TNN Development Limited (China), Microbelcaps (Belgium), Beijing Heronsbill Food Material Co.,Ltd (China), Duchefa Biochemie (Netherland), Medibro Corporation Limited (China), Chemizo Enterprise (India), DSM (Netherlands), DuPont (US), ADM (US), Sanofi (France), Bayer AG (Germany), Abbott (US), GlaxoSmithKline plc (UK), Merck & Co., Inc. (US)
Vitamin C Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Rising Consumption of Vitamin C
Vitamin C consumption is increasing as a result of its ability to prevent and cure numerous health conditions such as scurvy, heal wounds, and enhance the immune system. This is a primary element driving the target market's growth. One of the factors fueling the target market's growth is the very low toxicity of vitamin C, which means that excessive ingestion has no negative effects.
Emerging Demand of Vitamin C for Food Fortification
Growing demand for vitamin C for food fortification in a variety of applications, such as convenience foods, juices and sports drinks, confectionary goods, functional food and beverages, and bakery items, is likely to drive global vitamin C market growth.
Furthermore, rising urbanization, and increasing level of disposable income will drive market value growth. Also, growing awareness among people about the benefits associated with vitamin C and rising consumer inclination to processed foods will cushion the growth rate of vitamin C market. Another significant factor influencing the market’s growth rate is the increasing number of working population.
- Increasing number of application in end-use industries
The rise in the number of application in end-use industries will create new market opportunities during the forecast period. Vitamin C is widely utilized in pharmaceuticals, nutritional supplements, pet food, cosmetics, and personal care goods, and the rising demand for vitamin C supplements, anti-aging creams, sunscreen lotions, and other items is expected to fuel global market expansion.
Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate.
Restraints/ Challenges Global Vitamin C Market
On the other hand, the market is projected to be hampered by high cost of vitamin C. The impact of COVID-19 on supply chain and rising environmental regulations will hinder the market’s growth rate. The high import and export taxes and lack of awareness in under-developed countries will act as market restraint and further challenge the market growth rate.
This vitamin C 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 vitamin C market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Vitamin C Market
Vitamin C had several rise and fall in the industry as a result of the COVID-19 shutdown period. There have been numerous obstacles in the market. The production of tablets and liquids has been harmed as a consequence of the COVID-19. It affects the vitamin c supplement market's sales channel, resulting in lower market growth and income. The powdered vitamin c market's manufacturing stores have closed, and there has been a shortage of staff and ingredients due to shipping disruptions. As a result, the industry faces some challenges. However, as a result of COVID-19, people have grown more health-conscious, and they have begun to use organic market vitamin C for improved immunity. The majority of customers purchase these tablets in bulk. As a result, the market is in a tumultuous condition during the COVID-19.
Global Vitamin C Market Scope
The vitamin C 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.
- 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
On the basis of type, the vitamin C market is segmented into 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, and others.
Based on source, the vitamin C market is segmented into natural and synthetic.
- Reichstein Process
- Two-stage Fermentation Process
The process segment of the vitamin C market is segmented into Reichstein process, and two-stage fermentation process.
On the basis of form, the vitamin C market is segmented into tonic, tablet, granules and injection.
- Food and Beverage
- Animal Feed
Application segment of the vitamin C market is segmented into pharmaceutical, cosmetics, food and beverage, and animal feed.
Vitamin C Market Regional Analysis/Insights
The vitamin C market is analysed and market size insights and trends are provided by country, type, source, process, form and application as referenced above.
The countries covered in the vitamin C market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).
North America dominates the vitamin C market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the rising level of disposable income and rising demand from the cosmetic industry in these regions.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing demand for vitamin C products and increasing awareness about advantages of vitamin C in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, 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 vitamin C market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to vitamin C market.
Some of the major players operating in the vitamin C market are:
- Foodchem International Corporation (China)
- Mudanjiang High-Tech Biochemical Co. Ltd. (China)
- Amway India Enterprises Pvt. Ltd (India)
- CSPC Pharmaceutical Group Limited (China)
- Glanbia plc (Ireland)
- Northeast Pharmaceutical Group Co.,Ltd. (China)
- The TNN Development Limited (China)
- Microbelcaps (Belgium)
- Beijing Heronsbill Food Material Co.,Ltd (China)
- Duchefa Biochemie (Netherland)
- Medibro Corporation Limited (China)
- Chemizo Enterprise (India)
- DSM (Netherlands)
- DuPont (US)
- ADM (US)
- Sanofi (France)
- Bayer AG (Germany)
- Abbott (US)
- GlaxoSmithKline plc (UK)
- Merck & Co., Inc. (US)