Vitamin C Ingredients Market
The Vitamin C Ingredients Market was estimated around USD 9953 million in 2019 and is projected to grow at a CAGR of 2.8% over the forecast period (2020-2027).
The factors driving the growth of Vitamin C Ingredients Market includes rise in the incidences of diabetes, obesity, and heart related diseases, growing demand for dietary supplements around the world and increasing consumers inclination towards adopting healthy lifestyles. According to the report published by Statista, the Global Dietary Supplements Market was estimated around USD 205 billion in 2021 and is predicted to reach USD 308 billion by the end of 2028, which will boost the Vitamin C Ingredients Market size in the approaching years. Moreover, improvements in the shelf life of vitamin C molecules, rising popularity of functional food and beverages, growing nutritional deficiency in population aged 2-12 and increasing use of vitamin C ingredients to heal skin wounds, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, rising disposable incomes and rapid urbanization, are further contributing towards the market growth.
However, the growth of Vitamin C Ingredients Market is restricted because overdose of vitamin C may cause vomiting and headache.
The leading players operating in the market are Manav Drugs, Triveni Interchem Pvt. Ltd., Shandong Luwei Pharmaceutical Co., Ltd., Foodchem International Corporation, Koninklijke DSM N.V., CSPC Pharmaceutical Group Limited, Wuhan Yuancheng Gongchuang Technology Co., Ltd., Hangzhou Focus Corporation, Beijing Heronsbill Food Material Co., Ltd, The TNN Development Limited, Glanbia Nutritionals China (Suzhou) Co., Ltd, Hunan Sunshine Bio-Tech Co., Ltd Northeast Pharmaceutical Group Co., Ltd., North China Pharmaceutical Co., Ltd. and Microbelcaps, among others.
Based on Product Type, the Ascorbic Acid segment captured the largest market share during the forecast period
Increasing application of ascorbic acids in food and beverage and pharmaceutical industries, is the major factor responsible for the growth of the segment.
Based on Source, the Synthetic segment is estimated to expand at a significant CAGR over the forecast period
As per the Vitamin C Ingredients Market Report, Synthetic vitamin C ingredients possess identical chemical properties and have a longer shelf life as compared to natural vitamin C, are propelling the segment’s growth.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
According to the Vitamin C Ingredients Market Forecast, growing demand for dietary supplements across India, South Korea, and China, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Market Segmentation
Global Vitamin C Ingredients Market by Source
- Natural
- Synthetic
Global Vitamin C Ingredients Market by Product Type
- Ascorbic Acid
- Sodium Ascorbate
- Calcium Ascorbate
- Potassium Ascorbate
- Magnesium Ascorbate
- Ascorbic Acid 90% Granulation
- Ascorbic Acid 95% Granulation
- Ascorbic Acid 97% Granulation
- Coated Vitamin C
- Others
Global Vitamin C Ingredients Market by Form
- Powder
- Granules
- Others
Global Vitamin C Ingredients Market by Process
- Reichstein process
- Two-stage fermentation process
Global Vitamin C Ingredients Market by Application
- Food
- Bakery Products
- Meat Products
- Jams and Jellies
- Sports Nutrition
- Others
- Beverages
- Juices
- Drinks
- Functional Beverages
- Cosmetic and Personal Care Products
- Pharmaceuticals
- Animal Feed
Global Vitamin C Ingredients Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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