Westford, USA, July 13, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the global vitamin C market is projected to experience significant growth due to the rising utilization of vitamin C in various food products and as a dietary supplement. Vitamin C, also known as ascorbic acid, is essential in preventing different types of heart diseases and promoting overall health. Additionally, it plays a vital role in cell healing and repair processes within the body.
Browse in-depth TOC on the "Vitamin C Market"
- Pages - 251
- Tables - 117
- Figures – 73
The global vitamin C market is expected to witness significant growth driven by the increasing demand for food fortification across various applications. Vitamin C is widely used as a fortifying agent in a range of products, including convenience foods, juices, sports drinks, confectionery, functional food and beverages, and bakery items.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 1.74 Billion |
| 2030 Value Projection | USD 6.27 Billion |
| CAGR | 5.5% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Vitamin C Market
- DSM Nutritional Products AG
- CSPC Pharmaceutical Group Limited
- Northeast Pharmaceutical Group Co., Ltd.
- BASF SE
- China BBCA Group Corporation
- Merck KGaA
- Glanbia plc
- Adisseo France SAS
- Hangzhou Focus Corporation
- Shandong Luwei Pharmaceutical Co., Ltd.
- Foodchem International Corporation
- Koninklijke DSM N.V.
- Shandong Tianli Pharmaceutical Co., Ltd.
- Dishman Netherlands B.V.
- CSPS Pharmaceutical Group Limited
- Shandong Xinhua Pharmaceutical Co., Ltd.
- Northeast Pharmaceutical Group Co., Ltd.
- Aland (Jiangsu) Nutraceutical Co., Ltd.
- Shandong Runxin Biotechnology Co., Ltd.
- Chongqing Huabang Pharmaceutical Co., Ltd.
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Natural Sources Segment is Expected to Grow in the Market Due to the Growing Abundance of Natural Sources
The natural sources segment is poised to dominate the growth of the global vitamin C market and is anticipated to exhibit the highest CAGR during the forecast period. This growth is driven by abundant natural sources rich in vitamin C, particularly citrus fruits such as lemons, oranges, tomatoes, green peppers, and papayas.
The markets in the North America are projected to experience significant growth with a prominent CAGR in the vitamin C market. This growth can be attributed to the growing demand for a wide range of pharmaceutical and cosmetic products that contain vitamin C. As consumers in North America become more health-conscious and beauty-focused, the need for products enriched with vitamin C has witnessed a substantial rise.
Food and Beverages Segment is Expected to Dominate the Market Due to Increasing Consumption of Vitamin C
The food and beverages segment holds a dominant position in the global vitamin C market. The increasing consumption of vitamin C in various processed foods and soft drinks is expected to be a key driver for market growth. As consumers become more health conscious and aware of the numerous benefits of vitamin C, the demand for food products enriched with this essential nutrient is on the rise worldwide.
Regional markets in Europe hold a significant global vitamin C market share, driven by various factors. One key factor is the increasing ageing population in the region, which has led to a rise in healthcare costs and a greater demand for pharmaceutical products.
A comprehensive analysis of the major players in the vitamin C market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Vitamin C Market
- Krating Daeng, a brand under the TCH Group, recently collaborated with DHC, Japan's largest food supplement company, to address the vitamin C market in Thailand. This partnership aimed to meet the country's growing demand for vitamin C products. The collaboration aimed to provide consumers with diverse vitamin C offerings tailored to their needs by leveraging DHC's expertise in producing high-quality food supplements and Krating Daeng's established presence in Thailand.
- Cipla Health Ltd., a leading healthcare company, recently introduced a new product called Maxirich C+ Zinc. This product was developed to meet the increasing consumer demand for vitamin C supplements. Maxirich C+ Zinc is designed as a chewable form, offering a convenient and enjoyable way to consume vitamin C.
Key Questions Answered in Vitamin C Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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