About Vitamin C (Ascorbic Acid)-
Vitamin C is known as ascorbic acid, which is a vital nutrient that serves numerous functions in the human body. It’s used as a powerful antioxidant aid in combating oxidative stress and reducing the risk of chronic diseases such as cardiovascular ailments and certain cancers. The increasing awareness of the importance of a balanced diet and nutritional supplementation has driven the demand for vitamin C supplements and fortified foods. Consumers increasingly prioritizing immunity enhancement and overall well-being, expanding distribution channels, and targeting emerging markets with rising disposable incomes present promising avenues for market expansion. As the demand for health-conscious products continues, the vitamin C market is expanding in the future of preventive healthcare and nutritional supplementation.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 4.6% |
Major pharmaceutical companies have dedicated divisions or subsidiaries focused on vitamins, leveraging their resources and expertise in research, development, and marketing. There are numerous smaller companies specializing in niche segments of the vitamin market, such as herbal supplements, sports nutrition, or functional foods. Competition within the industry is intense, with companies differentiating their products through innovation, quality, branding, and pricing strategies. Key factors influencing competitiveness include product efficacy, safety, regulatory compliance, manufacturing capabilities, distribution networks, and marketing efforts. Furthermore, partnerships, collaborations, and acquisitions are common strategies used by companies to enhance their market position, expand their product portfolios, and gain access to new markets. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Vitamin C (Ascorbic Acid)- market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
DSM (Netherlands), BASF Corporation (Germany), Kemin Industries, Inc (United States), Pfizer Inc. (United States), Merck KGaA (Germany), Shandong Luwei Pharmaceutical Co., Ltd. (China), CSPC Nutritional (United States), Northeast Pharmaceutical Group Co., Ltd. (China), Foodchem International Corporation (China) and Bactolac Pharmaceuticals, Inc (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are M.C.Biotec Inc. (China), Honson Pharmatech Group (Canada), Glanbia Nutritionals China (Suzhou) Co., Ltd (China), MUBY CHEMICALS (China) and Mankind Pharma Ltd (India).
Segmentation Overview
AMA Research has segmented the market of Global Vitamin C (Ascorbic Acid)- market by Type (Sodium Ascorbate, Calcium Ascorbate, Potassium Ascorbate, Magnesium Ascorbate, D-Isoascorbic Acid, Granulation and Others), Application (Food and Beverage, Pharmaceuticals, Nutraceuticals, Pet Food, Animal Feed and Cosmetics and Personal Care) and Region.
On the basis of geography, the market of Vitamin C (Ascorbic Acid)- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Vitamin C (Ascorbic Acid)- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Growing Trend towards Functional Ingredients, Including Vitamins and Minerals
Market Growth Drivers:
Growing Awareness of Maintaining a Healthy Lifestyle and Increasing Prevalence of Chronic Diseases
Challenges:
Factors such as crop diseases and supply chain disruptions can impact the availability and cost of raw materials
Restraints:
Vitamin C is sensitive to heat, light, and oxygen
Opportunities:
Advancements in personalized nutrition and dietary supplementation
In June 2023, DSM-Firmenich, a health and nutrition company has declared a strategic restructuring of its vitamin division. This move is in response to the prevailing market dynamics, the current economic climate, and a significant downturn in the global vitamin markets. and In October 2022, Noble Panacea, a pioneering skincare brand, unveiled its latest innovation: a potent vitamin C product formulated with 20% pure L-ascorbic acid. Designed to combat visible signs of aging, from fine lines and wrinkles to diminished elasticity and hyperpigmentation, this groundbreaking formula delivers powerful results for radiant, youthful-looking skin.
The Food Safety and Standards Authority of India (FSSAI) regulates the use of health supplements, nutraceuticals, food for special dietary use, food for special medical purposes, functional foods, and novel food products through its various regulations. and The U.S. Food and Drug Administration (FDA) is the regulatory agency responsible for ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, food supplies, cosmetics, and products that emit radiation in the United States. The FDA regulates these products under the Dietary Supplement Health and Education Act (DSHEA) of 1994.
Key Target Audience
Manufacturers, Sellers and Suppliers, Government Agencies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.