The Business Research Company’s report on the Ascorbic Acid Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the ascorbic acid market in recent years?
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 September 2022, according to the World Health Organization (WHO), a Switzerland-based global health agency, reported that chronic diseases account for 74% of the world’s 41 million deaths each year. Cardiovascular diseases claimed 17.9 million lives, cancer 9.3 million, chronic respiratory diseases 4.1 million, and diabetes 2.0 million. Therefore, the rising need to reduce the risk of chronic diseases will drive the growth of the ascorbic acid market.
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What is the projected market size of the ascorbic acid industry, and how is it expected to grow?
The ascorbic acid market size has grown strongly in recent years. It will grow from $1.59 billion in 2024 to $1.7 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to health and nutrition trends, increased food and beverage industry demand, pharmaceutical applications, supplements and nutraceuticals, functional food products.
The ascorbic acid market size is expected to see strong growth in the next few years. It will grow to $2.42 billion in 2029 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to cost-efficiency strategies, health crisis preparedness, consumer preferences for natural additives, global supply chain dynamics. Major trends in the forecast period include sustainable agriculture practices, health and immunity focus, animal feed supplements, technological innovations, global trade dynamics.
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Who are the key players driving competition in the ascorbic acid market?
Major companies operating 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 Pvt. Ltd., Merck & Co. Inc., Foodchem International Corporation, Bayer AG, North China Pharmaceutical Group, Sigma-Aldrich Corporation, The Bountiful Company, Reckon Organics Pvt. Ltd., Homart Pharmaceuticals Pty Ltd., Archer-Daniels-Midland Company, Amway Corporation, Tirlán Co-operative Society Limited, Changsha Natureway Co. Ltd., DSM Nutritional Products AG, Glanbia PLC, Gujchem Biotech, Hangzhou Go Top Peptide Biotech Co. Ltd., Hebei Welcome Pharmaceutical Co. Ltd., Huachang Pharmaceuticals, LGM Pharma LLC, Nutrilo GmbH, Shaanxi Iknow Biotechnology Co. Ltd., Shandong Luwei Pharmaceutical, Sichuan Tongsheng Amino Acid Co. Ltd.
What key trends are expected to drive the articulated robot market during the forecast period?
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.
Which key geographies are driving the growth of the ascorbic acid market?
Asia-Pacific was the largest region in the ascorbic acid market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the ascorbic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the ascorbic acid market?
The ascorbic acid market covered in this report is segmented –
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
Subsegments:
1) By Calcium Ascorbate: Powdered Calcium Ascorbate, Granulated Calcium Ascorbate
2) By Sodium Ascorbate: Powdered Sodium Ascorbate, Granulated Sodium Ascorbate
3) By Magnesium Ascorbate: Powdered Magnesium Ascorbate, Granulated Magnesium Ascorbate
4) By Potassium Ascorbate: Powdered Potassium Ascorbate, Granulated Potassium Ascorbate
5) By D-Isoascorbic Ascorbate: Powdered D-Isoascorbic Ascorbate, Granulated D-Isoascorbic Ascorbate
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How is the ascorbic acid market defined?
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.
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