Middle East and Africa Ascorbic Acid Market Overview:
The Middle East and Africa Ascorbic Acid Market is estimated to experience a notable growth rate throughout the foreseen period 2021-2026.
Ascorbic Acid is a popular food ingredient and additive that has a variety of applications in several industries. It is naturally found in vegetables and fruits and acts as an essential nutrient in the human diet. In addition to its health benefits, Ascorbic Acid is also used in various commercial settings, such as water treatment plants, beverages, and bakeries.
Royal DSM completed its acquisition of Aland (HK) Holding Limited, a Hong Kong-based company that offers Ascorbic Acid in China.
Blagden introduced NV Ascorbic Acid that helps to reduce expression lines, brightens skin, offers even skin tone, and promote hydration.
Market Drivers and Restraints:
The increasing adoption of Ascorbic Acid in fortified foods and beverages, followed by advances in the personal care industry, is expected to directly influence the growth of the MEA Ascorbic Acid market during the outlook period. The market for ascorbic acid is expected to grow during the calculated period due to growing demand from end-use industries, including food and beverage, pharmaceuticals, chemicals, personal healthcare and cosmetics. Also, the increasing demand for potassium, calcium and sodium salts of ascorbic acid or Ascorbic Acid as a food antioxidant additive is expected to stimulate the local market in the next six years. However, an uncertain supply of raw materials and the resulting price fluctuations should hamper market growth. Besides, the widespread acceptance of ascorbic acid in the food and feed industry as a preservative is expected to act as a market constraint during the forecast period. The R&D of the main industry players, as well as the technological developments in the medical industry, are about to create growth possibilities for the MEA ascorbic acid market. A significant growth in the dietary and diabetic population, combined with better living standards and increased health awareness, is expected to create additional market opportunities during the estimated period. However, the increased incidence of gastrointestinal irritation and diarrhea due to excessive vitamin intake is expected to hamper this business expansion.
The Middle East and Africa market for ascorbic acid can be segmented by grade, application, and region.
Depending on the grade of the product, the market can be divided into food and pharmaceutical, and industrial.
Depending on the application, the market is divided into food and beverages, pharmaceuticals, chemicals, personal care, agriculture, and others. The food and beverage segment is foreseen to record a significant CAGR during the evaluated period (2020-2025).
Impact of covid-19 on Middle East and Africa Ascorbic Acid Market
The global outbreak of Covid-19 has resulted in the lockdown in several nations, resulting in the shutdown of manufacturing plants, closure of sales channels and disruption in supply and distributions. This has greatly affected almost all industries, in particular, food & beverage sector, affecting all its associated businesses like ascorbic acid market. There has been a decline in the overall sales in this market during this period, which is likely to continue till the end of 2020.
The Middle East and Africa Ascorbic acid market have been divided into nations of South Africa, Egypt, Saudi Arabia, the United Arab Emirates, Israel, and the Rest of the Middle East and Africa. The Middle East and Africa are one of the key emerging regions, which is likely to generate significant opportunities in the ascorbic acid market during the calculated period due to the rising need for different personal care products in the locale. Ascorbic acid is a potent antioxidant and finds its use in anti-aging creams and in a wide range of medical applications like cancer, heart disease, and scurvy. In addition, applications as preservatives, photographic developer solution reductions, and others are also acting as boosters for the development of this local market.
DSM had a substantial portion of the Middle East and Africa Ascorbic acid market in terms of sales and revenue in 2020.
The Middle East and Africa Ascorbic acid Market is concentrated with key players like GlaxoSmithKline Plc., DSM, NBTY Inc, Shandong Luwei Pharmaceutical, DuPont, Aland Nutraceuticals Group, Dishman Group, North China Pharmaceutical Group, Hebei Welcome Pharmaceutical Co, Northeast Pharmaceutical Group, BASF SE, CSPC Pharmaceutical Group, and Bactolac Pharmaceutical Inc
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 Middle East and Africa
7.2.1 By Country
126.96.36.199 Middle East
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