The Global Vitamin C Market was valued at USD 1.1 billion in 2020, and it is expected to reach USD 1.8 billion by 2027, with a CAGR of 7.1%, during the forecast period.
Vitamin C is the key nutrient in the body which protects body from various diseases. It is naturally available in the form of vegetables and fruits. Vitamin C is also called as ascorbic acid which is the pure form of vitamin C. The citrus fruits and vegetables such as kiwi, guava, lemon, capsicum, broccoli, grapes, sprouts are the major source of vitamin C. Vitamin C ingredients consist of calcium ascorbate, sodium ascorbate, magnesium ascorbate, coated vitamin C, potassium ascorbate, D-isoascorbic acid, and others. Vitamin C is a nutrient molecule which improves the production of specific enzymes for neurotransmitter system and repair the damaged tissues. Vitamin C rises the absorption of non-heme that is aluminum and iron molecules present in the body to minimize the occurrence of kidney dysfunction or kidney stones and help to enhance the oestrogen level.
Factors such as an increasing number of market players investing in vitamin C due to rising in demand of vitamin C owing to boost the immune system and increasing awareness among the people are driving the growth of the vitamin C market during the forecast period. In addition, change in lifestyle of people and growing adoption of synthetic supplements in maintaining health are expected to propel the market during the forecast period. Moreover, consumption of vitamin C on daily basis can reduce the chances of heart attack and diabetes are benefiting the industry.
However, the lack of standards and the scarcity of reimbursements are the major restraining factor for the growth of the global vitamin C market. Moreover, the overdose of vitamin C can cause serious allergies such as vomiting, nausea, hyperoxaluria, headache, skin flushing, stomach upset, and diarrhoea, is the another restraining factor for the growth of vitamin C industry.
The increasing prevalence of lifestyle disorders and low density of doctors, providing a platform for greater acceptance of vitamin C products in developing regions will create lucrative opportunities in the market. Additionally, as demand increases the government started taking initiatives and investment in research and development activities are likely to create opportunities to the start-up companies.
Global Vitamin C Market by Type Outlook (Revenue, USD Million, 2021-2027)
- Calcium Ascorbate
- Sodium Ascorbate
- Magnesium Ascorbate
- Coated Vitamin C
- Potassium Ascorbate
- D-Isoascorbic Acid
- Ascorbic Acid
- Others
Global Vitamin C Market by Process Outlook (Revenue, USD Million, 2021-2027)
- Two-stage Fermentation Process
- Reichstein Process
Global Vitamin C Market by Source Outlook (Revenue, USD Million, 2021-2027)
Global Vitamin C Market by Form Outlook (Revenue, USD Million, 2021-2027)
Global Vitamin C Market by Application Outlook (Revenue, USD Million, 2021-2027)
- Cosmetics
- Pharmaceutical
- Animal Feed
- Food & Beverage
Global Vitamin C Market by Region Outlook (Revenue, USD Million, 2021-2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Vitamin C Market Key Findings:
- Based on type, the ascorbic acid segment held the largest share in 2020 and is expected to maintain the highest market share during the forecast period due to consistent high demand of ascorbic acid.
- Based on process, Reichstein process is anticipated to grow with the highest CAGR during the forecast period as it is a safe and eco-friendly process.
- Based on the source, synthetic segment dominated the vitamin C market in 2020 and is expected to continue its dominance throughout the forecast period due to easy access of the synthetic vitamin C.
- Based on the form of vitamin C, powder segment dominated the market in 2020 and is expected to continue its dominance throughout the forecast period.
- Based on the application, the food & beverages segment is expected to grow with the highest CAGR during the forecast period. However, demand of vitamin C is rapidly increasing in other industries as well.
- Regionally, Asia-pacific region captured a significant portion of the global vitamin C market in 2020 and is expected to dominate the global vitamin C market during the forecast period.
Vitamin C Market Company Profiles and Competitive Intelligence
The key players operating in the market are:
- CSPC Pharmaceutical Group Limited
- China BBCA Group Corporation
- Glanbia Nutritionals China (Suzhou) Co., Ltd
- Foodchem International Corporation
- Koninklijke DSM N.V.
- Northeast Pharmaceutical Group Co., Ltd.
- Hunan Sunshine Bio-Tech Co., Ltd.
- Microbelcaps
- Vitamin Energy
- Hangzhou Focus Corporation
Vitamin C Market Recent News:
- In June 2021, LAKMÉ launched an entire range of vitamin C products that includes day cream, serum, and night cream. Ingredient vitamin C helps in protecting skin against free radicals in the environment and avoid and treat a number of skin problems such as dark spots, premature ageing, and pigmentation from happening.
- In March 2019, VitaminEnergy launched new CBD-Energy Shot. This shot produces more Vitamin C than 10 oranges. Launching of functional shot promotes the mission (Healthier for You) of the company for adult which gives power boost.
- In March 2018, The GHT Companies, Inc. sprung Vegan Life Nutrition for the vegetarian people and for those population who consumes nutrition completely based on plants. Vegan Life Nutrition gives supplement nutrition completely based on plants.
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