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 (2021-2027).
Purest form of vitamin C is known as ascorbic acid. Vitamin C is an essential nutrient that mainly obtained from vegetables and fruits. The human body requires vitamin C to maintain healthy skin, blood vessels, and bones. Vitamin C is used to produce protein called as collagen needed to maintain and develop gums, bones, cartilage, joint linings, blood vessels, skin, and healthy teeth.
Rising demand of vitamin C among the consumers due to increasing importance of vitamin C for maintaining healthy skin and wound healing which is the major propelling factor for the growth of global vitamin C market. Additionally, as vitamin C is the water-soluble ingredient which nourish the skin cells, heals the wound, reduces the chances of heart attack and diabetes, helps to keeps blood pressure normal and supports the immune system that accelerate the growth of the vitamin C market during the forecast period. Furthermore, the increasing popularity of the nutritional supplement and organic food among the population is another factor for the growth of the target market.
The ascorbic acid segment was accounted for a significant share of vitamin C market in 2020, owing to various usage of ascorbic acid in various industries such as pharmaceutical, food & beverages and others.
Reichstein process is combined microbial and chemical process in which ascorbic acid is produced from D-glucose. This process is completely safe and environment friendly. Thus, the reichstein process segment is accounted for the largest market share in the vitamin C industry.
The synthetic segment held the largest share of the global vitamin C market. Synthetic vitamin C ingredient has the highest shelf life than that of natural vitamin C ingredient. Synthetic vitamin C is consisting of identical chemical ingredient which is used for the food processing. Hence, demand for synthetic vitamin C is high and is further projected to increase during the forecast period.
Based on of application, the market is categorised into cosmetics, pharmaceutical, animal feed, and food & beverage. The food & beverages segment is assumed to hold the largest share of the market as vitamin c further enhances nutrient value of the food.
Based on region, the market has been categorised into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. The Asia-Pacific region was dominated the global vitamin C market in 2020. The dominance is expected to continue owing to numerous production sites, low-cost raw material, and high demand from developed region. North America and Europe are projected to observe steady growth during the forecast period.
The COVID-19 outbreak has made a positive impact on vitamin C market. The COVID-19 has brought up awareness to live a healthy lifestyle and to maintain a fit and healthy body as well. The usage of vitamin C products used in pharmaceuticals, food and beverages have extensively increased and thus, the COVID-19 has made a positive impact on vitamin C industry. Moreover, due to presence of several opportunities in coming years, several companies invested in vitamin C industry. Hence, entry of innovative products and services is likely to further drive the market growth.
|1||COVID-19 outbreak has significantly increased the usage of vitamin C products as it helps to boost immune system||Positive|
|2||The rise in awareness for healthy and disease-free lifestyle||Positive|
|3||Increased demand from Cosmetic Industry||Positive|
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