“Ascorbic Acid Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ascorbic acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for ascorbic acid? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ascorbic acid market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Calcium Ascorbate; Sodium Ascorbate; Magnesium Ascorbate; Potassium Ascorbate; D-Isoascorbic Ascorbate
- 2) By Grade: Pharmaceuticals Grade; Food Grade; Other Grades
- 3) By Form: Tablet; Tonic; Injection
- 4) By Distribution Channel: Online; Offline
- 5) By Application: Food and Beverages; Pharmaceutical; Cosmetics; Chemicals; Agriculture; Other Applications
- Companies Mentioned: Koninklijke DSM NV; Northeast Pharmaceutical Group Co Ltd; CSPC Pharmaceutical Group; Bactolac Pharmaceutical Inc; BASF SE
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the ascorbic acid market are: Koninklijke DSM NV, Northeast Pharmaceutical Group Co Ltd., CSPC Pharmaceutical Group, Bactolac Pharmaceutical Inc., BASF SE, LabChem Inc., Muby Chemicals, Merck & Co Inc., Foodchem International Corporation, Bayer AG, North China Pharmaceutical Group, Sigma-Aldrich Corporation, Nature's Bounty, Reckon Organics Pvt Ltd., Homart Pharmaceuticals, Archer-Daniels-Midland Company, Amway Corporation, and Tirlan Co-operative Society Limited.
The global ascorbic acid market is expected to grow from $1.40 billion in 2022 to $1.50 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ascorbic acid market is expected to grow to $1.96 billion in 2027 at a CAGR of 7%.
The ascorbic acid market consists of sales of dehydroascorbate, calcium threonate, xylonate, lyxonate, and L-ascorbic acid, industrial grade, cosmetic grade, and liquid and powder form. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Ascorbic acid, also known as vitamin C, is a white, crystalline, water-soluble organic compound obtained from plants of the citrus family that resembles carbohydrates and is used as a class of medications called antioxidants in food and beverages, among others.
Asia-Pacific was the largest region in the ascorbic acid market in 2022. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the ascorbic acid report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ascorbic acid include calcium ascorbate, sodium ascorbate, magnesium ascorbate, potassium ascorbate, and D-isoascorbic ascorbate. Calcium ascorbate is a calcium salt of ascorbic acid that is a white or yellow crystalline powder, used as a preservative in food, enhancing immunological performance, healing tissues, and others. The different grades include pharmaceutical grades, food grades, and others, produced in forms such as tablets, tonics, and injections. The distribution channels included are online and offline, applied in food and beverages, pharmaceuticals, cosmetics, chemicals, agriculture, and other.
The rising need to reduce the risk of chronic diseases is expected to propel the growth of the ascorbic acid market going forward. Chronic diseases are long-term illnesses that can usually be treated but not cured. The consumption of ascorbic acid and related products can significantly enhance the slowdown of chronic disease and improve patients' health. For instance, in March 2021, the National Institute of Health (NIH), a US-based medical and behavioral research agency, published a report stating that daily intake of vitamin C can reduce the risk of cancer by up to 63% and the chances of heart stroke by 42% in adults. Additionally, according to the World Health Organization data 2021, a Switzerland-based government agency responsible for international public health, cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Therefore, the rising need to reduce the risk of chronic diseases will drive the ascorbic acid market.
Product innovations are a key trend gaining popularity in the ascorbic acid market. Major market players are concentrating their efforts on innovations in ascorbic acid for several applications, such as in cosmetics, to sustain their position in the ascorbic acid market. For instance, in August 2022, NeoStrata, Inc., a US-based pharmaceutical company that develops skin care products, launched Vitamin C Serum. This innovative serum consists of 15% Vitamin C, 2% Gluconolactone (PHA), 1% Feverfew Extract, and Green Tea Extract. This serum helps to reduce uneven skin tone, dark spots, and observable skin discoloration and defends against environmental irritants.
In November 2020, Bayer AG, a Germany-based pharmaceutical and biotechnology company, acquired Care/of Company for $225 million. Through this acquisition, Bayer increases its capabilities in the areas of personalized nutrition and healthcare and vitamin C-based supplements. Care/of is a US-based company that provides premium vitamins, supplements, and powders.
The countries covered in the ascorbic acid market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ascorbic acid market research report is one of a series of new reports from The Business Research Company that provides ascorbic acid market statistics, including ascorbic acid industry global market size, regional shares, competitors with an ascorbic acid market share, detailed ascorbic acid market segments, market trends and opportunities, and any further data you may need to thrive in the ascorbic acid industry. This ascorbic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Ascorbic Acid Market Characteristics
3. Ascorbic Acid Market Trends And Strategies
4. Ascorbic Acid Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Ascorbic Acid Market
- 4.2. Ukraine-Russia War Impact On Ascorbic Acid Market
- 4.3. Impact Of High Inflation On Ascorbic Acid Market
5. Ascorbic Acid Market Size And Growth
- 5.1. Global Ascorbic Acid Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Ascorbic Acid Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Ascorbic Acid Market Segmentation
- 6.1. Global Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Calcium Ascorbate
- Sodium Ascorbate
- Magnesium Ascorbate
- Potassium Ascorbate
- D-Isoascorbic Ascorbate
- 6.2. Global Ascorbic Acid Market, Segmentation By Grade, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pharmaceuticals Grade
- Food Grade
- Other Grades
- 6.3. Global Ascorbic Acid Market, Segmentation By Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Tablet
- Tonic
- Injection
- 6.4. Global Ascorbic Acid Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Online
- Offline
- 6.5. Global Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food and Beverages
- Pharmaceutical
- Cosmetics
- Chemicals
- Agriculture
- Other Applications
7. Ascorbic Acid Market Regional And Country Analysis
- 7.1. Global Ascorbic Acid Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Ascorbic Acid Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Ascorbic Acid Market
- 8.1. Asia-Pacific Ascorbic Acid Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Ascorbic Acid Market
- 9.1. China Ascorbic Acid Market Overview
- 9.2. China Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Ascorbic Acid Market
- 10.1. India Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Ascorbic Acid Market
- 11.1. Japan Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Ascorbic Acid Market
- 12.1. Australia Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Ascorbic Acid Market
- 13.1. Indonesia Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Ascorbic Acid Market
- 14.1. South Korea Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Ascorbic Acid Market
- 15.1. Western Europe Ascorbic Acid Market Overview
- 15.2. Western Europe Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Ascorbic Acid Market
- 16.1. UK Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Ascorbic Acid Market
- 17.1. Germany Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Ascorbic Acid Market
- 18.1. France Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Ascorbic Acid Market
- 19.1. Eastern Europe Ascorbic Acid Market Overview
- 19.2. Eastern Europe Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Ascorbic Acid Market
- 20.1. Russia Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Ascorbic Acid Market
- 21.1. North America Ascorbic Acid Market Overview
- 21.2. North America Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Ascorbic Acid Market
- 22.1. USA Ascorbic Acid Market Overview
- 22.2. USA Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Ascorbic Acid Market
- 23.1. South America Ascorbic Acid Market Overview
- 23.2. South America Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Ascorbic Acid Market
- 24.1. Brazil Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Ascorbic Acid Market
- 25.1. Middle East Ascorbic Acid Market Overview
- 25.2. Middle East Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Ascorbic Acid Market
- 26.1. Africa Ascorbic Acid Market Overview
- 26.2. Africa Ascorbic Acid Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Ascorbic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Ascorbic Acid Market Competitive Landscape And Company Profiles
- 27.1. Ascorbic Acid Market Competitive Landscape
- 27.2. Ascorbic Acid Market Company Profiles
- 27.2.1. Koninklijke DSM NV
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Northeast Pharmaceutical Group Co Ltd
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. CSPC Pharmaceutical Group
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Bactolac Pharmaceutical Inc
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. BASF SE
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Ascorbic Acid Market
29. Ascorbic Acid Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer