The market environment for the whole of August 2023 demonstrates an uprise in the prices of Sodium Ascorbate across the United States. This surge in the value of Sodium Ascorbate has made suppliers more cautious about placing newer orders from exporting nations to meet the consistent surge in inquiries.

Several factors, such as rising consumption of Sodium Ascorbate in the downstream preservatives, cosmetics, dietary, and food industries, mounting manufacturing costs as a result of increasing energy and other input costs, and the easy accessibility of feedstock materials, such as the Ascorbic Acid and Sodium Bicarbonate used in the production of Sodium Ascorbate, support this increase in demand for Sodium Ascorbate throughout the entire month of August 2023. Another factor driving up the cost of Sodium Ascorbate across the country was the rise in demand for vitamin C supplements. However, the difficulty in obtaining Sodium Ascorbate from abroad was worsened by the disrupted supply chains from significant exporting countries like China and the disrupted weather conditions that resulted in delayed shipments.

Given the current market circumstances, as the economy recovered from the pandemic-related disruptions, numerous manufacturers worldwide increased their operational activity, which resulted in rising demand from upstream substrates and chemicals. However, due to its significant use as a preservative in some medications, the demand for Sodium Ascorbate in the pharmaceutical industry continued to rise for the second month of the third Quarter. The food industries that depend on Sodium Ascorbate as a food additive have supported this rising market demand, further bolstering the upbeat market trend.

Additionally, due to supply chain problems, the availability of Sodium Ascorbate continued to be impacted, which added to the price increase. Transportation bottlenecks from China have also hampered the efficient supply of raw materials and finished goods to other importing countries, particularly the USA, partly due to labor shortages and logistical difficulties. Manufacturers and suppliers are now having difficulty keeping up with the growing demand. As a result, suppliers were incentivized to raise their prices across the country, increasing costs for purchasers and buyers. This was made possible by the shortage of the final products. Due to manufacturer and investor speculation, some investors have started to speculate on the price of Sodium Ascorbate and have begun to purchase significant amounts of the end product Sodium Ascorbate in the hope of selling it at a higher profit. This has further contributed to the price surge.