Vitamin C Market

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Global Vitamin C Market is valued at USD 1.06 Billion in 2022 and is projected to reach a value of USD 1.67 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.90% over the forecast period.

The growing prevalence of chronic diseases such as cancer and heart disease is one of the major factors driving the growth of the Global Vitamin C Market. In addition, the rising awareness of the importance of Vitamin C for overall health and well-being is another key factor fueling the market growth. The growing demand for functional foods and beverages fortified with Vitamin C is also contributing to market growth. The increased use of supplements is one of the major trends being witnessed in the Global Vitamin C Market. The growing popularity of online retailing is also providing a boost to market growth. However, the availability of counterfeit products is a major challenge faced by manufacturers operating in the market. One of the major restraints for the Vitamin C Market is the availability of substitutes, such as vitamin E and beta-carotene. These substitutes are present in a wide range of food items and are often cheaper than Vitamin C. This may limit the growth of the Vitamin C Market during the forecast period. In addition, the synthesis of Vitamin C is relatively simple, and there are a number of manufacturers who can produce it. This may lead to intense competition in the market and result in lower prices.

Top Market Trends:

● The cost of synthetic Vitamin C has been steadily increasing, making natural alternatives more attractive to cost-conscious consumers.

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● Veganism is becoming more popular, as people are becoming aware of the health and environmental benefits of this lifestyle. This has led to an increase in demand for vegan-friendly Vitamin C, which is made from plant-based ingredients.

● Consumers are becoming increasingly health conscious and are looking for products that are free from synthetic chemicals and preservatives. This has resulted in a growing demand for natural and organic products, including Vitamin C.

● Functional foods are gaining popularity, as they are believed to offer health benefits beyond basic nutrition. This includes Vitamin C, which is often added to functional foods and drinks to increase their nutritional value.

● The demand for supplements is increasing, as people look for ways to improve their health and well-being. This includes Vitamin C, which is often taken in supplement form to ensure adequate intake.

● There is a growing awareness of the importance of Vitamin C for overall health and well-being. This has led to an increase in demand for products that are rich in this nutrient.

Market Segmentation:

The Global Vitamin C Market is segmented based on Product Type, Source, Process, Form, Application, and Region. Based on the Product Type, the market is further segmented into Sodium Ascorbate, Calcium Ascorbate, Potassium Ascorbate, Magnesium Ascorbate, Ascorbic Acid with 90% Granulation, D-Isoascorbic Acid, Ascorbic Acid with 95% Granulation, Ascorbic Acid 97% Granulation, Coated Vitamin C, and Other Types. Furthermore, based on the Source, the market is divided into Natural and Synthetic. Moreover, based on the Process, the market is divided into two techniques: the Reichstein Process and Two-stage Fermentation Process. In addition, based on the Form, the market is further bifurcated into Tonics, Tablets, Granules, and Injectables. Likewise, based on the Application, the market is classified into Pharmaceutical, Cosmetics, Food & Beverage, and Animal Feed. Furthermore, based on Region, the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Based on Product Type

Sodium ascorbate is a popular form of Vitamin C because it is non-acidic and gentle on the stomach. It is often used to treat colds and flu. Calcium ascorbate, Potassium ascorbate, Magnesium ascorbate and Ascorbic acid with 90% granulation are popular form of Vitamin C because these are non-acidic in nature and gentle on the stomach. These are widely used to treat cold and flu. Ascorbic acid held a significant share of the market in 2022 and is projected to retain its dominance over the forecast period. Ascorbic acid is widely used in food & beverage, pharmaceuticals, and personal care applications owing to its low cost and wide availability. There are four main types of ascorbic acid products on the market: ascorbic acid with 90% granulation, D-isoascorbic acid, ascorbic acid with 95%granulation, and ascorbic acid with 97% granulation. Ascorbic acid with 90% granulation is the most common type of ascorbic acid product available on the market. D-isoascorbic acid is a more expensive form of ascorbic acid that is often used in higher-end products. Ascorbic acid with 95%granulation and ascorbic acid with 97% granulation are less common but are typically more potent forms of ascorbic acid. Coated Vitamin C is designed to slowly release the vitamin into the body over time. This can help reduce the risk of gastrointestinal side effects, such as upset stomach or diarrhea. However, it may not be as effective at raising Vitamin C levels in the body as other forms of vitamin.

Based on Source

Natural sources of Vitamin C include fruits and vegetables, while synthetic sources include supplements and fortified foods. Vitamin C is a water-soluble vitamin that is found in foods such as citrus fruits, tomatoes, potatoes, and leafy vegetables. It is also available in the form of supplements. The natural form of Vitamin C is more bioavailable than the synthetic form, meaning that it is more easily absorbed by the body. The synthetic form is less expensive and can be more convenient, but it is not as effective. The market for Vitamin C is growing due to the increasing demand for dietary supplements and the rising awareness of the health benefits of Vitamin C among consumers. The market is being supported by the favorable regulatory environment and the increasing availability of products in the market.

Based on Process

The Reichstein process, also known as the synthetic Ascorbic Acid process, is a two-stage fermentation process that was developed in the 1930s. The first stage of the process uses glucose and sucrose as substrates, while the second stage uses lactate. This process results in a yield of approximately 50-60% pure ascorbic acid. The two-stage fermentation process was developed in the 1950s and is a more efficient version of the Reichstein process. In this process, glucose is fermented to produce lactic acid in the first stage, and then this lactic acid is used to produce ascorbic acid in the second stage. This process results in a yield of approximately 80-85% pure ascorbic acid.

Based on Form

Tonic form: The tonic form of Vitamin C is typically taken in liquid form and contains a high concentration of the vitamin. This makes it a good choice for those who want to get a large dose of Vitamin C all at once. However, the tonic form of Vitamin C can be expensive and may not be as easily absorbed by the body as other forms. Tablet form: The tablet form of Vitamin C is a convenient way to get your daily dose of the vitamin. Tablets are easy to take with you on the go and can be found at most drugstores. However, some people find that tablets are hard to digest and can cause stomach upset. Granule form: Granule form Vitamin C is another convenient way to supplement your diet with vitamins. Granules can be added to water or juice and taken with you wherever you go. They are also relatively inexpensive and easy to find. However, like tablets, granules can be hard to digest and may cause stomach upset. Injection form: The injection form of Vitamin C is the most concentrated form of vitamin available. Injections are typically given by a healthcare professional and are used to treat patients who are deficient in the vitamin. Injections are highly effective, but they can be painful and may cause. Among these, the tablet & granule segment is estimated to account for the largest share of the market in terms of both, value and volume, in 2018. This segment is also expected to grow at the fastest rate during the forecast period. The growing preference for tablets & granules over other forms of Vitamin C is attributed to the ease of consumption and portability of these products.

Based on Application

Pharmaceuticals: Vitamin C is used in the treatment of several conditions, including scurvy, colds, and some types of cancer. It is also used as an intravenous (IV) infusion to treat patients with severe malnutrition or those who are recovering from surgery. Cosmetics: Vitamin C is often used in skin-care products due to its ability to reduce wrinkles and improve skin elasticity. It is also used in hair care products to add shine and protect against damage. Food and beverage: Vitamin C is added to many processed foods, such as breakfast cereals, juices, and sports drinks. It is also used to fortify milk and other dairy products. Animal feed: Vitamin C is added to animal feed to prevent deficiencies and promote growth. The food & beverage segment is further sub-segmented into functional foods & beverages, infant food, and others. The functional foods & beverages segment is projected to grow at the highest CAGR during the forecast period. The increasing demand for functional foods & beverages, owing to the health benefits offered by them, is driving the growth of this segment. The animal feed segment is projected to grow at the second-highest CAGR during the forecast period. The increasing demand for animal feed, owing to the growing population of livestock, is driving the growth of this segment.

Based on Region

North America is the largest market for Vitamin C followed by Europe. In North America, the demand for Vitamin C is driven by the growing food & beverage industry. The United States is the major market for Vitamin C in North America. In Europe, Germany is the major market for Vitamin C followed by France and the UK. The demand for Vitamin C in Europe is driven by the growing food & beverage industry. China is the major market for Vitamin C in the Asia Pacific followed by India and Japan. Brazil is the major market for Vitamin C in Latin America followed by Mexico and Argentina. GCC countries are the major markets for Vitamin C in the Middle East and Africa followed by South Africa and Nigeria. APAC was the leading consumer of Vitamin C in 2016 due to its large population base and growing economic development in countries such as China and India. The LATAM market is expected to grow at a rapid pace over the forecast period due to rising health consciousness among consumers in Brazil and Mexico. North America is expected to be the largest market for Vitamin C, due to the high demand for dietary supplements and the presence of a large number of manufacturers in the region. Europe is expected to be the second-largest market for Vitamin C, due to the high demand for functional foods and beverages. Asia Pacific is expected to be the fastest-growing market for Vitamin C, due to the growing health consciousness among consumers and the availability of a large number of raw materials in the region.

Competitive Landscape:

The key players in the Global Vitamin C Market include- Foodchem International Corporation (China), Mudanjiang High-Tech Biochemical Co. Ltd. (China), Amway India Enterprises Pvt. Ltd (India), CSPC Pharmaceutical Group Limited (China), Glanbia PLC (Ireland), Northeast Pharmaceutical Group Co. Ltd. (China), The TNN Development Limited (China), Microbelcaps (Belgium), Beijing Heronsbill Food Material Co. Ltd (China), Duchefa Biochemie (Netherland), Medibro Corporation Limited (China), Chemizo Enterprise (India), DSM (Netherlands), DuPont (US), ADM (US), Sanofi (France), Bayer AG (Germany), Abbott (US), GlaxoSmithKline PLC (UK), Merck & Co. Inc. (US) and others.

Recent Developments:

● One of the most significant has been the introduction of a new generation of Vitamin C products that are more bioavailable and effective than ever before. These products are now available from a number of different manufacturers, and they are quickly becoming the preferred choice for many consumers.

● One of the most exciting recent developments in the Vitamin C Market is the discovery of its potential to help improve cognitive function. A recent study found that Vitamin C supplementation can help improve memory and cognitive performance in older adults. This is just one of many studies that are beginning to uncover the many potential health benefits of Vitamin C.

Segmentation of the Global Vitamin C Market: