Vitamin C Market Size, Share, Opportunities, And Trends By Type (Calcium Ascorbate, Magnesium Ascorbate, Potassium Ascorbate, Ascorbic Acid, Others), By Source (Synthetic, Natural), By Process (Two-Stage Fermentation Process, Reichstein Process), By Form (Injections, Tablets, Granules, Tonics), By Application (Cosmetics, Food and Beverages, Pharmaceuticals, Animal Feed), And By Geography - Forecasts From 2024 To 2029

The Vitamin C market is anticipated to expand at a high CAGR over the forecast period.

Vitamin C, also known as ascorbic acid, is a water-soluble vitamin that plays a crucial role in various physiological processes within the human body. It is an essential nutrient, meaning that the body cannot produce it on its own, and it must be obtained through diet or supplementation. Vitamin C is renowned for its antioxidant properties, helping to protect cells from damage caused by free radicals. Additionally, it is vital for collagen synthesis, a protein crucial for the health of connective tissues, skin, blood vessels, and bones. Vitamin C also aids in the absorption of non-heme iron from plant-based foods, further supporting overall iron metabolism. Found abundantly in fruits and vegetables such as citrus fruits, strawberries, bell peppers, and broccoli, maintaining an adequate intake of vitamin C is essential for promoting immune function, wound healing, and overall well-being.

Market Drivers

• Increased use in the food and beverage industry

The National Institute of Health has provided information on vitamin C dosage in a fact sheet. According to the guidelines, the recommended dosage of vitamin C varies for different age groups. For infants aged 0-6 months, the appropriate dosage is 40mg. Infants aged 7-12 months should have 50mg. Children aged 1-3 years are recommended 15mg, while those aged 4-8 years should have 25mg. For children aged 9-13 years, the appropriate dosage is 45mg. Adolescents aged 14-18 years are advised to have 65mg (females) and 75mg (males). For adults aged 19 years and above, the recommended dosage is 75mg for females and 90mg for males.

The increasing focus on health-conscious choices among consumers has generated a rising demand for fortified food and beverages. This trend is prominent in developed and developing nations, including the United States, India, China, and Germany. Consumers are turning towards products containing functional ingredients, such as ascorbic acids, to enhance their immune systems and address health-related concerns. As a pivotal element in functional food and beverage items, ascorbic acid serves various purposes, acting as a preservative, flavor enhancer, and taste modifier in products like confectionery, sauces, and bread. The growing demand for fortified beverages and other food products is playing a significant role in the overall expansion of the ascorbic acid market. With an increasing awareness of the advantages of ascorbic acid, these driving factors are anticipated to exert a substantial impact. Companies are actively meeting the demand for fortified products by integrating ascorbic acid into their offerings.

• Use of vitamin C as a skin brightening ingredient

The cosmetic industry has witnessed a growing trend in incorporating vitamin C as a key ingredient, particularly for its skin-brightening properties. Vitamin C, or ascorbic acid, is renowned for its antioxidant properties and its ability to promote collagen synthesis. These qualities make it a sought-after ingredient in skincare formulations, contributing to the industry's focus on achieving radiant and even-toned skin. Vitamin C helps combat the effects of oxidative stress and sun damage, reducing the appearance of dark spots, hyperpigmentation, and uneven skin tone. Additionally, it aids in brightening the complexion, providing a youthful and luminous appearance. Its popularity in cosmetic products, including serums, creams, and masks, highlights the growing consumer preference for skincare solutions that promote a healthy and radiant skin tone. As the awareness of the benefits of vitamin C continues to rise, its integration into skincare routines is expected to remain a prominent and enduring trend in the cosmetic industry.

Asia Pacific region is anticipated to hold a significant share of the Vitamin C market.

The utilization of ascorbic acid in Asian nations, especially in India, China, and Japan, is anticipated to experience rapid growth, attributed to the cost-effective manufacturing facilities present in these regions. This dynamic has created opportunities for manufacturers to enter the functional food and beverage sector by introducing innovative bioactive ingredients, with ascorbic acid being a key component. The increasing market demand for health and dietary supplements is poised to contribute significantly to the sector's expansion in the foreseeable future. Asian countries face prevalent deficiencies in essential micronutrients such as iodine, Vitamins A and C, iron, folate, and zinc, making this region an attractive market for global Vitamin C manufacturers and suppliers. Factors like the rise in personal disposable income and supportive government policies further bolster the growing demand for ascorbic acid. The pharmaceutical industry's notable growth in the region is also a driving force behind the increasing demand for Vitamin C.

Market Developments

• Otsuka Foods is set to introduce its latest product, MATCH Vitamin Apple, in a convenient 500ml PET bottle, offering an increased dose of Vitamin C just in time for the season when health is a top priority. The product is scheduled to be available in stores across Japan starting from October 3, 2022. This new offering is designed to cater to the growing consumer interest in health and wellness, providing a convenient and refreshing way to boost Vitamin C intake. The 500ml PET bottle ensures easy portability and accessibility for consumers looking to incorporate additional nutrients into their daily routines. Otsuka Foods aims to meet the demand for functional beverages that align with the health-conscious preferences of consumers, contributing to their overall well-being during the specified season.
• In November 2022, Duas Rodas unveiled an exclusive Acerola extract during the Supply Side West 2022 event, featuring a standardized content of 40% natural vitamin C. This innovative launch demonstrates Duas Rodas' commitment to delivering high-quality nutritional ingredients to the market. Acerola, known for its natural richness in vitamin C, is a valuable source of this essential nutrient. By introducing an extract with a standardized 40% vitamin C content, Duas Rodas addresses the increasing demand for potent and natural nutritional solutions. The launch at the Supply Side West 2022 event signifies the company's dedication to staying at the forefront of industry trends and meeting consumer preferences for products that contribute to overall health and well-being.

Market Segmentation

• By Type
  • Calcium Ascorbate
  • Magnesium Ascorbate
  • Potassium Ascorbate
  • Ascorbic Acid
  • Others
• By Source
  • Synthetic
  • Natural
• By Process
  • Two-Stage Fermentation Process
  • Reichstein Process
• By Form
  • Injections
  • Tablets
  • Granules
  • Tonics
• By Application
  • Cosmetics
  • Food and Beverages
  • Pharmaceuticals
  • Animal Feed
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain  
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Process

2.2. Research Data

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. VITAMIN C MARKET, TYPE

5.1. Introduction 

5.2. Calcium Ascorbate

5.3. Magnesium Ascorbate

5.4. Potassium Ascorbate

5.5. Ascorbic Acid

5.6. Others

6. VITAMIN C MARKET, BY SOURCE

6.1. Introduction

6.2. Synthetic

6.3. Natural

7. VITAMIN C MARKET, BY PROCESS

7.1. Introduction

7.2. Two-Stage Fermentation Process

7.3. Reichstein Process

8. VITAMIN C MARKET, BY FORM

8.1. Introduction

8.2. Injections

8.3. Tablets

8.4. Granules

8.5. Tonics

9. VITAMIN C MARKET, BY APPLICATION

9.1. Introduction

9.2. Cosmetics

9.3. Food and Beverages

9.4. Pharmaceuticals

9.5. Animal Feed

10. VITAMIN C MARKET, BY GEOGRAPHY

10.1. Introduction

10.2. North America

10.2.1. United States

10.2.2. Canada

10.2.3. Mexico

10.3. South America

10.3.1. Brazil

10.3.2. Argentina

10.3.3. Others

10.4. Europe

10.4.1. United Kingdom

10.4.2. Germany

10.4.3. France

10.4.4. Italy

10.4.5. Spain

10.4.6. Others

10.5. Middle East and Africa

10.5.1. Saudi Arabia

10.5.2. UAE

10.5.3. Others

10.6. Asia Pacific

10.6.1. Japan

10.6.2. China

10.6.3. India

10.6.4. South Korea

10.6.5. Taiwan

10.6.6. Thailand

10.6.7. Indonesia

10.6.8. Others

11. COMPETITIVE ENVIRONMENT AND ANALYSIS

11.1. Major Players and Strategy Analysis

11.2. Market Share Analysis

11.3. Mergers, Acquisitions, Agreements, and Collaborations

12. COMPANY PROFILES

12.1. Merck KGaA

12.2. Glanbia plc

12.3. DSM

12.4. Bayer AG

12.5. Foodchem International Corporation

12.6. Northeast Pharmaceutical Group Co., LTD.

12.7. M.C.Biotec Inc.

12.8. CSPC Pharmaceutical Group Co., Ltd.

12.9. Duchefa Biochemie

12.10. Global Calcium PVT LTD

Merck KGaA

Glanbia plc

DSM

Bayer AG

Foodchem International Corporation

Northeast Pharmaceutical Group Co., LTD.

M.C.Biotec Inc.

CSPC Pharmaceutical Group Co., Ltd.

Duchefa Biochemie

 

Global Calcium PVT LTD