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Ascorbic Acid Market Segmentation By Type (Calcium Ascorbate, Sodium Ascorbate, Magnesium Ascorbate, Potassium Ascorbate and D-Isoascorbic Ascorbate), By Grade (Food Grade, Pharmaceutical Grade and Others), By Form (Tablet, Tonic and Injection), By End User (Food And Beverages, Animal Feed, Pharmaceuticals And Healthcare, Personal Care and Others) And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2022 to 2027

Published: June, 2022
ID: 13234
Pages: 180
Formats: report pdf report excel report power bi report ppt

Ascorbic Acid Market Size, Share, Growth (2022-2027)

The Ascorbic Acid Market was worth US$ 1.41 billion in 2021 and is anticipated to reach a valuation of US$ 1.64 billion by 2027 and is predicted to register a CAGR of 5.2% during 2022-2027.

Ascorbic Acid Market

Ascorbic Acid Market Overview:

Ascorbic acid is a water-soluble vitamin that can help patients suffering from serious ailments. Due to the increased demand for vitamin C to develop immunity in humans, the COVID-19 pandemic had a favourable impact on market growth. COVID-19 patients with moderate symptoms were also treated with ascorbic acid. People were also more likely to use vitamin C supplements to stay active and enhance their immunity in order to avoid becoming infected by the virus. Due to the highest output of vitamin C in the world, China has been leading the market. The country wields significant influence over global ingredient prices, which is a major driving force in the market.

The growing use of vitamin C in cosmetics and personal care products has aided the ascorbic acid market's expansion. Many manufacturers are now supplying clean-labelled vitamin C supplements to customers looking for antioxidant support for immune health via supplements, thanks to the paradigm shift from clean-label food and beverage items to dietary supplements. As a result, the pharmaceutical and healthcare industries need for ascorbic acid has soared.  Ascorbic acid is also used in a variety of other commercial applications. Bakeries, water treatment plants, and drinks all employ ascorbic acid. By strengthening gluten, promoting better softness and finer crumbs, and reducing crust thickness, ascorbic acid helps breads last longer. Ascorbic acid also prevents oxidation in the manufacture of meat and organic fruit juice. Many shops will not buy anything that has turned brown, thus this is a must-have for meat and fruit suppliers. Ascorbic acid is becoming more popular due to its ability to remove chlorine from water supplies. When mixed with sodium ascorbate, ascorbic acid can purify chlorine-polluted water and make it safe to return to streams.

Ascorbic Acid Market Growth:

The Ascorbic Acid Market is being driven by a desire to improve and boost immune health during the ongoing pandemic, also ascorbic acid finds applications in several other industries. These factors are anticipated to contribute to the Ascorbic acid Market growth.

Ascorbic Acid Market Drivers:

As the number of health-conscious people grows, so does the need for fortified foods and beverages. Consumers in industrialised and emerging countries such as the United States, India, China, and Germany are increasingly turning to nutrient-based and other goods containing functional ingredients to help them avoid sickness or manage current health problems.

Companies have begun to include ascorbic acid into their products in response to consumer demand for fortified foods and beverages. In addition, many government initiatives are underway, particularly in developing nations like China and India, to encourage the consumption of fortified foods and beverages. For example, due to growing health concerns about ageing, myopia, and other ailments, China's Ministry of Health pushes the consumption of fortified foods, driving demand for ascorbic acid. These factors are anticipated to propel the Ascorbic Acid Market growth.

Ascorbic Acid Market Restraints:

The growth of the ascorbic acid market would be hampered by price volatility in raw materials. The ascorbic acid market will be further hampered by an uncertain supply rate. The market's growth rate will be slowed by rising concerns about negative effects. These are holding back the Ascorbic Acid Market growth.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 - 2026

Base Year

2021

Forecast Period

2022 - 2027

CAGR

5.2%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

CSPC Pharmaceutical Group,Koninklijke DSM N.V.,Northeast Pharmaceutical Group Co., Ltd.,,Shandong Luwei Pharmaceutical Co Ltd,,Bactolac Pharmaceutical Inc.,,Shandong Tianli Pharmaceutical Co., Ltd.,GlaxoSmithKline Plc.,North China Pharmaceutical Company Ltd.,Zhengzhou Tuoyang,Blagden Speciality Chemicals Ltd.,

Recent Developments in the Ascorbic Acid Market:

In October 2021, The Double Dose Superpower Organic Vitamin C serum from First Base Skincare is a unique anti-aging serum that boosts hydration and collagen formation while being suitable for all skin types.

Ascorbic Acid Market Segmentation: 

By Type:

  • Calcium Ascorbate

  • Sodium Ascorbate

  • Magnesium Ascorbate

  • Potassium Ascorbate

  • D-Isoascorbic Ascorbate

The Ascorbic Acid Market has been divided by type into, calcium ascorbate, sodium ascorbate, magnesium ascorbate, potassium ascorbate and D-isoascorbic ascorbate. The one which took the bigger Ascorbic Acid Market size was the Sodium ascorbate type. This dominance was observed Because of the growing use of sodium ascorbate as an antioxidant in food products, increasing approval for its use from major regulatory authorities, use as a stabiliser and conditioner in bakery items, and an increasing number of research studies to explore its cytotoxic activity in cancer therapy, the sodium ascorbate segment is expected to account for the largest revenue share between 2022 and 2027. It is because of these reasons that we see the sodium ascorbate type of ascorbic acid taking the bigger ascorbic acid market share.

By Grade:

  • Food Grade

  • Pharmaceutical Grade

  • Others

The Ascorbic Acid Market has been divided by grade into, food grade, pharmaceutical grade and others. The one which took the bigger Ascorbic Acid Market size was the food grade. This dominance was observed because of the increased usage of food-grade ascorbic acid in fruit juices and frozen fruit to fortify and enhance citrus flavour, as a chemical preservative in food, and in dietary supplements is likely to drive considerable revenue growth in the food grade segment throughout the forecast period. It is because of these reasons that we see food-grade ascorbic acid taking the bigger ascorbic acid market share.

By Form:

  • Tablet

  • Tonic

  • Injection

The Ascorbic Acid Market has been divided by form into, tablet, tonic and injection. The one which took the bigger Ascorbic Acid Market size was the tablet form. This dominance was observed due to increased prescribed medication of oral doses of vitamin C to fight infections and certain chronic diseases, accessibility of extended-release and chewable tablets, and positive for the business for orally administered of vitamin C due to improved safety, the tablet segment is expected to account for a significant revenue share over the forecast period. It is because of these reasons that we see the tablet form of ascorbic acid taking the bigger ascorbic acid market share when segmented by form.

By End-User:

  • Food And Beverages

  • Animal Feed

  • Pharmaceuticals And Healthcare

  • Personal Care 

  • Others

The Ascorbic Acid Market has been divided by end-user into, food and beverages, animal feed, pharmaceuticals and healthcare, personal care and others. The one which took the bigger Ascorbic Acid Market size was food and beverages. During the projection period, the food and beverage market is likely to outperform other application segments in terms of revenue growth. The growing use of ascorbic acid as a preservative and antioxidant in food products to preserve freshness, colour, and reduce spoilage, increasing demands for canned and ready-to-eat foods, and abundance of food-grade ascorbic acid in powdered and tablet form at cost-effective prices are all contributing to the segment's revenue growth. It is because of these reasons that we see the food and beverages end-user of ascorbic acid taking the bigger ascorbic acid market share when segmented by end-user.

Ascorbic Acid Market Regional Analysis: 

The Ascorbic Acid Market Report includes the segmentation of Regions:

  • North America
  1. The U.S.

  2. Canada

  3. Mexico

Following the Asia Pacific market, The existence of a significant number of pharmaceutical and cosmetics firms that invest heavily in research and development is expected to propel the ascorbic acid market in North America forward. This is because of significant advancements in chemical research and an increase in the number of geriatrics suffering from ailments that can be averted by taking ascorbic acid supplements, the market for ascorbic acid is expected to mature in this region.

  • Europe
  1. The U.K.

  2. France

  3. Germany

  4. Netherlands

  5. Russia

  6. Italy

Because of quick advancements in chemical studies and an increase in the number of geriatrics suffering from ailments that can be averted by taking ascorbic acid supplements, the Ascorbic Acid Market in Europe is expected to mature.

  • Asia Pacific
  1. India

  2. China

  3. Japan

Because of their cost-effective manufacturing facilities, Asian countries, particularly India, China, and Japan, are predicted to rapidly increase their use of ascorbic acid. This feature has allowed firms to enter the functional food and beverage market with novel bioactive ingredients, such as ascorbic acid. Over the forecast period, rising demand for health and dietary supplements in the region is expected to boost market expansion. In Asia, major micronutrient deficiencies such as iodine, vitamins A and C, iron, folate, and zinc are common, making the region a profitable market for vitamin C manufacturers and suppliers. Personal disposable income is increasing in the region, and supporting government policies are boosting demand. The pharmaceutical industry's expansion is a major driver of ascorbic acid demand in the regional market. The Indian pharmaceutical market, for example, climbed from 13.7 percent in July 2020 to 17.7 percent in August 2021, according to the India Brand Equity Foundation.

Ascorbic Acid Market Key Players:

  1. CSPC Pharmaceutical Group

  2. Koninklijke DSM N.V.

  3. Northeast Pharmaceutical Group Co., Ltd.,

  4. Shandong Luwei Pharmaceutical Co Ltd,

  5. Bactolac Pharmaceutical Inc.,

  6. Shandong Tianli Pharmaceutical Co., Ltd.,

  7. GlaxoSmithKline Plc.,

  8. North China Pharmaceutical Company Ltd.,

  9. Zhengzhou Tuoyang

  10. Blagden Speciality Chemicals Ltd.,

 

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FAQ's

What can be the total Ascorbic Acid Market value?

The Ascorbic Acid Market was worth US$ 1.41 billion in 2021 and is anticipated to reach the valuation of US$ 1.64 billion by 2027.

Mention the growth rate of the Ascorbic Acid Market?

The Ascorbic Acid Market is predicted to register a CAGR of 5.2% during 2022-2027

Name any three Ascorbic Acid Market key players?

CSPC Pharmaceutical Group, Koninklijke DSM N.V. and GlaxoSmithKline Plc., are a few key Ascorbic Acid Market players.

What is the study period of this report?

The study period of this report is from 2022-2027

Which region registered the highest Ascorbic Acid Market Share?

The region that registered the highest Ascorbic Acid Market Share is the Asia Pacific region.

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