Global Ascorbic Acid Market, By Type (Calcium Ascorbate, Sodium Ascorbate, Magnesium Ascorbate, Potassium Ascorbate and D-Isoascorbic Ascorbate), Grade (Pharmaceuticals Grade, Food Grade and Others), Form (Tablet, Tonic and Injection), End-User (Food and Beverages, Animal Feed, Pharmaceuticals and Healthcare, Personal Care and Others), Distribution Channel (Online and Offline), Process (Reichstein Process and Two-stage Fermentation Process), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Ascorbic Acid Market
Data Bridge Market Research analyses that the global ascorbic acid market will project a CAGR of 5.10% for the forecast period of 2021-2028. Increasing demand from end-use industries including chemicals, personal care, pharmaceuticals, food and beverages and cosmetics and rising awareness about vitamin C supplements are the major factors responsible for the growth of ascorbic acid market.
Ascorbic acid serves as an antioxidant for the body and is a key diet supplement for many. It helps in repairing of tissues and aids enzymatic production.
Rising personal disposable income and increasing awareness about the importance of vitamin C in the body are the major factors fostering the growth of ascorbic acid market. Growth of environmental concerns regarding water purification is another important factor acting as a ascorbic acid market growth determinant. Rising cases of skin cancer and increasing demand for skin care products among people will further create lucrative growth opportunities for the ascorbic acid market. Growth and expansion of e-commerce sector especially in the developing economies coupled with the paradigm shift from clean-label food and beverage products to dietary supplements will induce growth in the market value. Changing lifestyle and increasing application of ascorbic acid in the pharmaceutical drugs will also induce growth in the demand for will further propel growth in the market value.
However, fluctuations in the prices of raw materials will pose a major challenge to the growth of ascorbic acid market. Uncertain supply rate will further derail the ascorbic acid market growth rate. Rising concerns related to the side effects will also dampen the market growth rate.
This ascorbic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on ascorbic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Ascorbic Acid Market Scope and Market Size
The ascorbic acid market is segmented on the basis of type, grade, form, end-user, distribution channel and process. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the ascorbic acid market is segmented into calcium ascorbate, sodium ascorbate, magnesium ascorbate, potassium ascorbate and D-Isoascorbic ascorbate.
- On the basis of grade, the ascorbic acid market is segmented into pharmaceuticals grade, food grade and others.
- On the basis of form, the ascorbic acid market is segmented into tablet, tonic and injection.
- Based on end-user, the ascorbic acid market is segmented into food and beverages, animal feed, pharmaceuticals and healthcare, personal care and others.
- Based on distribution channel, the ascorbic acid market is segmented into online and offline.
Based on process, the ascorbic acid market is segmented into reichstein process and two-stage fermentation process.
Ascorbic Acid Market Country Level Analysis
The ascorbic acid market is analyses and market size, volume information is provided by country, type, grade, form, end-user, distribution channel and process as referenced above.
The countries covered in the ascorbic acid market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific dominates the ascorbic acid market and will continue to excel its dominance during the forecast period. India and China will emerge to become the major contributors from this region owing to the increasing personal disposable income, cost-effective manufacturing facilities in these countries and supportive government policies. Rising deficiency of vitamin C coupled with growth and expansion of pharmaceutical industry will further aggravate the demand and supply of in the future.
The country section of the ascorbic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Ascorbic Acid Market Share Analysis
The ascorbic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to ascorbic acid market.
The major players covered in the ascorbic acid market report are LabChem Inc., BBCA Group, BASF SE, GlaxoSmithKline plc, FreShine Chemicals Company, Aland Nutraceuticals Group, King Pharma, Shandong Luwei pharmaceutical co.ltd., Bactolac Pharmaceuticals, Inc., HeBei Welcome Pharmaceutical Co. Ltd, CSPC Pharmaceutical Group Limited., DuPont, DSM, Northeast Pharmaceutical Group Co., Ltd, CSPC Pharmaceutical Group Limited, Huabei Pharmaceutical Group Co., Ltd., Merck KGaA, Nature’s Bounty, GlaxoSmithKline plc., Muby Chemicals, and Dishman Group among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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