Europe Ascorbic Acid Market Research Analysis 2021-2026:
Europe Ascorbic Acid Market is estimated to develop with a considerable CAGR throughout the anticipated period (2021-2026).
Ascorbic acids, commonly known as vitamin C, are an essential dietary supplement for many. It plays a key role in the repair of natural tissues and also aids in the production of enzymes. It allows the correct functioning of various enzymes and the immune system. In addition, it also serves as an antioxidant in the body. Ascorbic acid also plays a critical role in several other commercial applications like bakeries, water treatment plants, and beverages. Ascorbic acid also prevents oxidation during the production of organic meat and fruit juices. It is an essential use for meat and fruit suppliers, as many supermarkets do not buy golden products. It is increasingly used for its ability to separate the chlorine from the water supply. Ascorbic acid combined with sodium ascorbate can clean chlorinated water and make it safe to discharge into waterways.
During November, Blagden announced its new product, NV Ascorbic Acid that is effective in decreasing expression lines, brighten skin, and improve hydration. This product launch has improved the existing product portfolio of this company.
Market Drivers and Restraints:
The European ascorbic acid market is expected to grow with increased vitamin deficiency issues, a lack of healthy natural agricultural products, and lifestyle changes across the area. Ascorbic acid is traditionally associated with increased fertility in various cultures around the world. Growing research is showing that there is a correlation between supplement intake and increased sperm count. Ascorbic acid may also appear in response to infertility in the near future. This is a great opportunity for market participants, as vitamin C supplements can help smokers and other unhealthy people stay healthy at an additional low cost in the near future. The market for ascorbic acid in Europe is expected to grow as the acid is increasingly used as a food additive. Recently introduced European regulations and FDA approval for higher amounts in diets should become a major boost to the market. The increasing demand for skincare products is also expected to stimulate the global market for ascorbic acid. Concerns about global warming, the increased risk of skin cancer, and other diseases are expected to drive several segments of the cosmetic segment. Ascorbic acids and their salts help slow down the deterioration of the skin. Its positive impact on aging and wrinkles should boost the regional market.
Based on the grade, the regional market is dominated by the food-grade ascorbic acid that is likely to continue for some time in the future. By application, the cosmetics segment is likely to account for the prominent share in the European market in the coming years. The increasing consumer preference for vitamin c enriched products related to personal care is foreseen to create lucrative opportunities for the regional business.
Impact of COVID-19 on Europe Ascorbic acid Market
Some nations had a huge impact, while others have controlled the rapid spread of coronavirus by implementing preventive measures like lockdown, strict regulations related to social distance, usage of masks, and so on. The food & beverage industry is seriously affected by the Covid-19 pandemic that is likely to take some time in the future to recover. Also, the shutdown of manufacturing units has halted the development of personal care and cosmetic products, resulting in a decline in overall revenues in the ascorbic acid market. The safety consciousness of consumers has made them stick to homes and reduce regular purchases, which impacted the worldwide business. The same trend is foreseen to continue for some time in the future.
The market for Europe Ascorbic acid has been classified on the basis of geography into the nations of Germany, Italy, France, and the United Kingdom, which are supposed to post significant gains during the forecast period. A change in consumers' lifestyle, accompanied by eating habits and lack of exercise, is likely to affect human health and lead to a surge in the number of cardiovascular diseases and diabetes. Ascorbic acid is a registered food additive in the European Community and is GRAS classified, which has resulted in an increased adoption in the food and beverage sector in the area.
BASF SE had the largest share of the Europe Ascorbic acid Market in terms of sales and revenue in 2019.
The Europe Ascorbic acid Market is expanding with key players like Hebei Welcome Pharmaceutical Co., BASF SE, Northeast Pharmaceutical Group, Bactolac Pharmaceutical Inc, and CSPC Pharmaceutical Group.
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
7.2.1 By Country
220.127.116.11 Rest of Europe
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