Global Vitamin C Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Vitamin C Market: Overview
“The global Vitamin C Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Vitamin C also known as ascorbic acid is an essential nutrient for the body in order to function properly. The best sources of vitamin C are fresh fruits and vegetables including citrus fruits, tomatoes, kiwifruit, strawberries, cantaloupe, potatoes, green peppers, broccoli, and brussels sprouts.
Vitamin C is used for treating and preventing the common cold, skin infections, and complications during pregnancy. In addition, vitamin C is applied to the skin which helps to protect against pollutants, sun, and others.
Increasing consumption of vitamin C owing to prevent and cure various health problems including scurvy, healing wounds, and improving the immune system is a major factor driving the growth of the target market. Due to the very low toxicity present in vitamin C, excess intake does not create side effects is one of the factors driving the growth of the target market.
Global Vitamin C Market: Dynamics
Additionally, the growing consumer inclination to processed foods and the rising working population are other factors expected to support the growth of the global market over the forecast period.
Growing demand for vitamin C for food fortification in many applications including convenience foods, juices & sports drinks, confectionery products, functional food & beverages, and bakery products which are expected to propel global vitamin C market growth over the forecast period.
Furthermore, vitamin C is widely used in pharmaceutical, dietary supplements, pet food industry, cosmetics & personal care, and the increasing demand for vitamin C supplements, anti-aging creams, sunscreen lotions, and other products is another factor estimated to drive the growth of the global market.
However, the high manufacturing cost of vitamin C, coupled with increasing environmental regulations are among some other factors that could restrain the growth of the target market.
Global Vitamin C Market: Segment Analysis
Among the type segments, the sodium ascorbate segment is expected to account for maximum revenue share contribution in the target market, due to its antioxidant properties and use as a reducing agent.
Among the form segments, the tablet segment is expected to account for a significant share of the global market, in terms of revenue, due to its extended shelf life as compared to other forms.
Among the application segments, the foods & beverages are expected to hold the majority of the market share, owing to the high usage of vitamin C in various food products.
Global Vitamin C Market: Regional Analysis
The North American market is expected to account for a major revenue share in the global vitamin C market. This is attributable to increasing demand from the cosmetic and pharmaceutical industry along with high disposable income in countries such as US and Canada.
The Asia Pacific Vitamin C market is expected to register the fastest growth over the forecast period. This is primarily attributed to growing consumer preference for the benefits of vitamin C, availability of products, and high consumption of vitamin C products are the major factors driving the growth of the market in this region.
Global Vitamin C Market Segmentation:
Segmentation by type:
- Sodium Ascorbate
- Calcium Ascorbate
- Potassium Ascorbate
- Magnesium Ascorbate
- D-Isoascorbic Acid
Segmentation by form:
Segmentation by application:
- Foods & Beverages
- Animal Feed
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Amway Corp
- Abbott Laboratories
- GlaxoSmithKline plc
- Nutraceutics Corp.
- Danisco (UK) Ltd
- Bayer Pharma AG
- BASF SE
- Bayer AG
- Danisco US Inc.
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