As per this study, the Global Vitamin C Market was valued USD 1.95 BN (by revenue) in 2022 and is anticipated to reach USD 16.22 BN by 2030 with a CAGR of 30.34%.
Vitamin C is also known as ascorbic acid and found in various vegetables and fruits. It is a water-soluble nutrient and has excellent anti-oxidant properties helps to fight against infection, heal the wound and keep tissue healthy in the body. Basically, vitamin C has used a dietary supplement which is available in various forms such as a tablet, powder, and liquid. In addition, vitamin C is widely used for food fortification in juices & sports drinks, convenience foods, functional food & beverages, confectionery products, and bakery products. The end-user of vitamin c are food & beverages, pharmaceutical, cosmetics & personal care, and pet food industry.
Market Dynamics
The market of vitamin C is mainly growing on the ground of increasing application across various end-user industries such as cosmetic, animal feed, pharmaceutical, and food industries. Increasing demand for dietary supplement along with the rising usage of the product as preservative across the food and beverage industry is also expected to expand the industry growth. The increasing prevalence of the skin-related disease is fueling the demand for vitamin C which is also projected to propel the market growth. Additionally, growing demand for anti-aging cremes, sunscreen lotions, and other bio-based cosmetic products owing to varying climatic dynamics are expected to boost the demand for vitamin C over the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of vitamin c.
Market Segmentation
The broad vitamin c market has been sub-grouped into form, type, and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Type
- Calcium Ascorbate
- Sodium Ascorbate
- Magnesium Ascorbate
- Coated Vitamin C
- Potassium Ascorbate
- D-Isoascorbic Acid
- Ascorbic Acid
- Others
By Source
By Application
- Food and Beverages
- Pharmaceutical
- Cosmetics
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for vitamin c in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Vitamin C Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the vitamin c market include Animal Feed Beijing Heronsbill Food Material Co., Duchefa Biochemie, Medibro Corporation Limited, ADM, Sanofi, Bayer AG, Foodchem International Corporation, Mudanjiang High-Tech Biochemical, Amway India Enterprises, CSPC Pharmaceutical Group, Glanbia plc, Northeast Pharmaceutical Group, The TNN Development Limited, Microbelcaps, DSM, DuPont. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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