The global Vitamin C market stood at approximately 450 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.25% during the forecast period until 2034. Vitamin C, also known as ascorbic acid, is a versatile nutrient essential for overall health and well-being. As a potent antioxidant, it shields cells from damage caused by harmful free radicals, thereby reducing the risk of chronic diseases and supporting longevity. Crucially, vitamin C fortifies the immune system by bolstering the production and function of white blood cells, aiding in the defense against infections and promoting faster recovery from illnesses such as the common cold. Moreover, its role in collagen synthesis is paramount, as it ensures the strength and elasticity of skin, blood vessels, tendons, ligaments, and bones, facilitating wound healing and maintaining tissue integrity.
Vitamin C serves multiple purposes in food and personal care products. Often added to various foods like fruit juices, cereals, candies, dried fruits, and cured meats, it both fortifies these items with vitamin C and imparts a citrusy flavour. Additionally, ascorbic acid acts as a preservative in foods like bread, cured meats, jams, and jellies, extending their shelf life by inhibiting spoilage. In cosmetics and personal care products, less acidic forms of ascorbic acid, such as calcium ascorbate and sodium ascorbyl phosphate, function as antioxidants, preventing the deterioration of the product due to air exposure while also helping to regulate the product's pH. This versatile nutrient plays a crucial role in both maintaining nutritional content in foods and preserving the quality of various consumer products.
The global market for vitamin C is witnessing several significant trends. Firstly, there's a noticeable surge in demand for dietary supplements containing vitamin C, attributed to its antioxidant properties and potential immune system benefits, driven by heightened health awareness. Secondly, the overarching health and wellness trend is steering consumers towards natural sources of vitamin C, such as fruits and vegetables, and natural supplement formulations, reflecting a preference for holistic well-being approaches. Concurrently, food and beverage manufacturers are fortifying their products with vitamin C to cater to health-conscious consumers across various categories, including juices, snacks, cereals, and dairy alternatives, signaling a rise in fortified foods and beverages. Moreover, the growing popularity of functional foods, which offer added health benefits, is integrating vitamin C into products aimed at enhancing immunity, skin health, and overall wellness. Environmental sustainability concerns are also shaping the market, with consumers favoring sustainably sourced ingredients and eco-friendly packaging, prompting suppliers and manufacturers to adopt sustainable practices. Furthermore, technological advancements, like fermentation techniques and bioengineering, are optimizing production processes, ensuring efficiency and purity to meet escalating demand. Lastly, emerging economies in Asia-Pacific and Latin America are witnessing market expansion, driven by urbanization, rising disposable incomes, and increasing health consciousness among consumers, presenting substantial growth opportunities for the vitamin C market in these regions. The global Vitamin C market is likely to reach approximately 730 thousand tonnes in 2034.
The Asia Pacific region stands out as the primary consumer of Vitamin C and is likely to maintain its position in the forecast period as well. The Asia-Pacific region's prominence as the primary consumer of vitamin C is justified by several factors. Firstly, the region is home to densely populated countries with large consumer markets, such as China and India, where dietary supplement consumption is increasing rapidly due to rising health awareness and disposable incomes. Additionally, traditional medicine practices in many Asian countries emphasize the importance of vitamin-rich diets, further driving demand for vitamin C products. Moreover, the prevalence of industrialization and urbanization in the Asia-Pacific region has led to lifestyle changes and dietary shifts, with consumers increasingly seeking out fortified foods and beverages containing vitamin C to support their hectic lifestyles. Furthermore, the region's diverse climate and agricultural capabilities facilitate the production of vitamin C-rich fruits and vegetables, providing a steady supply for both domestic consumption and export markets. Lastly, proactive government initiatives and regulations aimed at promoting public health and nutrition in countries like Japan and South Korea contribute to sustained demand for vitamin C products. Considering these factors, the Asia-Pacific region is likely to maintain its position as the primary consumer of vitamin C in the forecast period, driven by continued economic growth, evolving dietary preferences, and ongoing health consciousness among consumers.
Based on the end-use industry, the global Vitamin C market is divided into Food & Beverages, Pharmaceuticals & Supplements, Personal Care & Cosmetics, Animal Feed, and Others. Among these industries, Food & Beverages is the dominating segment and held about 65% of the global Vitamin C market in 2023.
Major players in the Global Vitamin C market are Spectrum Chemical, DSM Jiangshan Pharmaceutical (Jiangsu) Co., Ltd., Fengchen Group Co., Ltd, Fooding, Northeast Pharmaceutical Group Co., Ltd (NEPG)
Botanic Healthcare, CSPC Pharmaceutical Group Limited, Foodchem International Corporation, Global Calcium PVT LTD, M.C. Biotec Inc., Pharmavit, NAGASE & CO., LTD., Reckon Organics Private Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Vitamin C which covers production, demand and supply of Vitamin C market in the globe.
• To analyse and forecast the market size of Vitamin C
• To classify and forecast Global Vitamin C market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Vitamin C market in the globe.
To extract data for Global Vitamin C market, primary research surveys were conducted with Vitamin C manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Vitamin C market over the coming years.
ChemAnalyst calculated Vitamin C demand across the globe by analyzing the volume of Vitamin C consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Vitamin C manufacturers and other stakeholders
• Organizations, forums and alliances related to Vitamin C distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Vitamin C manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Vitamin C market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
450 thousand tonnes
Market size Volume in 2034
730 thousand tonnes
Growth Rate
CAGR of 4.25% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages, Pharmaceuticals & Supplements, Personal Care & Cosmetics, Animal Feed, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Vitamin C market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Vitamin C.
3. Capacity By Location
To better understand the regional supply of Vitamin C by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Vitamin C by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Food & Beverages, Pharmaceuticals & Supplements, Personal Care & Cosmetics, Animal Feed, and Others) are creating a market and the forecast for the growth of the Vitamin C market.
7. Demand by Region
Analyzing the change in demand of Vitamin C in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Vitamin C. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Vitamin C.
10. Company Share
Figure out what proportion of the market share of Vitamin C is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Vitamin C.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the net market size of Vitamin C in terms of volume in 2023?
Ans:
The global market size of Vitamin C has reached approximately 450 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Vitamin C?
Ans:
Food & Beverages industry is the leading end-user industry of Vitamin C globally.
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Ans:
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