Asia Pacific Ascorbic Acid Market Analysis 2022 - 2027:
Asia Pacific Ascorbic Acid Market was estimated at USD xx.x million in 2019 and is anticipated to reach USD xx.x million by 2025 with a notable CAGR throughout the outlook period (2022 - 2027).
Ascorbic acid is a water-soluble compound that is available as a tonic, tablet, and injection. It repairs and maintains bones, teeth, and forms scar tissue, making it an essential dietary supplement. Ascorbic acid also acts as a natural antioxidant that can protect human cells from damage caused by free radicals. Increased consumer spending on tablets or medications, as well as increased health awareness, should drive growth in the industry. Several pharmaceutical companies are increasing the adoption of ascorbic acid as it helps curb the occurrence of cardiovascular ailments, reduces the chemotherapy after effects and kills tumors.
Blagden introduced its novel product NV Ascorbic Acid that is created to control wrinkles, boost skin tone and promote hydration.
Market Drivers and Restraints:
The Asia Pacific market for ascorbic acid is expected to experience lucrative growth in the coming years due to high demand from many end-use industries, such as chemicals, food and beverages, cosmetics, agriculture, pharmaceutical and others. The shift in preferences towards healthy foods, including nutritional supplements, has contributed to the growing importance of vitamin C in many applications, such as in skin care products, wound healing and infection prevention, and to improve absorption iron from food, reduce the risk of chronic disease, improve immune health and control blood pressure. Also, ascorbic acid is necessary for the growth, development and repair of all body tissues and for the performance of body functions such as the creation of collagen and the maintenance of cartilage, bones and teeth. Market players focus on strategies such as mergers, expansion, acquisitions, and the introduction of innovative products to meet the high demand in end-use markets. For example, according to the American Journal of Clinical Nutrition, those with the highest concentration of ascorbic acid in their blood were associated with a 42% lower risk of stroke than those with the lowest concentration.
Moreover, the call for ascorbic acid in the food and feed industry as a preservative is foreseen to propel this business in the foreseen years. The R&D of the main industry players, as well as the technological developments in the medical industry, are about to create growth paths for the Asia Pacific ascorbic acid market. Significant growth in the dietary and diabetic population, combined with an improved standard of living and increased health awareness, should create additional market opportunities during the forecast period.
The Asia Pacific market for ascorbic acid can be segmented by grade, application, and region. Depending on the grade of the product, the market for ascorbic acid can be divided into food and pharmaceutical, and industrial. Based on the application, the market is separated into food and beverages, pharmaceuticals, personal care, agriculture, chemicals, and others. The food and beverage segment is foreseen to develop with a notable compound annual growth rate throughout the conjecture period (2020-2025).
Impact of COVID-19 on Asia Pacific Ascorbic acid Market:
The Covid-19 pandemic had a great effect on almost all industries across the world, especially in the food and beverage and cosmetics sectors. The lockdown implemented in various countries has resulted in the shutdown of several manufacturing units and distribution networks, which led to declined revenue in the ascorbic acid market. The increasing consumer demand for healthy skin in countries like Japan, South Korea, India, etc., is foreseen to promote the demand for ascorbic acid in the Asia Pacific in the coming years.
The Asia Pacific ascorbic acid market has been divided into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. The Asia Pacific ascorbic acid market is likely to experience significant growth in the near future. Consumption of ascorbic acid in Asian countries, mainly India, China, Japan, and other countries, is expected to increase at a faster rate, due to profitable manufacturing facilities in these countries. The growing demand for dietary and health supplements in the area is also foreseen to drive market growth during the outlook period. Furthermore, deficiencies in major micronutrients such as iodine, vitamins A and C, iron, folate, and zinc are prevalent in Asian countries, making it a lucrative market for vitamin C manufacturers and suppliers throughout the world.
Merck KGaA had the most substantial share of the Asia Pacific Ascorbic acid market in terms of sales and revenue in 2020.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Ascorbic Acid Market, By Grade
6.1.1 Food and Pharmaceutical
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Ascorbic Acid Market, By Application
6.2.2 Personal Care
6.2.5 Food and Beverages
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 Asia Pacific
7.2.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.2.2 By Grade
7.2.3 By Application
8. Key Player Analysis
8.1 GlaxoSmithKline Plc
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.3 Shandong Luwei Pharmaceutical
8.5 Aland Nutraceuticals Group
8.6 Dishman Group
8.7 North China Pharmaceutical Group
8.8 Hebei Welcome Pharmaceutical Co
8.9 Northeast Pharmaceutical Group
8.10 BASF SE
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
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