Increasing use of ascorbic acid in dermatology, growing R&D activities to explore cytotoxic and anti-cancer activity of ascorbic acid, and growing popularity of cosmetic and personal care products enriched with vitamin C across the globe are some key factors driving market growth
Increasing use of ascorbic acid in dermatology, growing R&D activities to explore cytotoxic and anti-cancer activity of ascorbic acid, and growing popularity of cosmetic and personal care products enriched with vitamin C across the globe are some key factors driving market growth
The global ascorbic acid market size was USD 1.09 Billion in 2020 and is expected to register a CAGR of 5.0% during the forecast period. Ascorbic acid is one of the most effective natural antioxidant and it facilitates various metabolic reactions and repair processes in the body. Increasing focus on maintaining required daily intake of ascorbic acid to reduce probability of chronic diseases in non-smoking individuals, rising awareness regarding effectiveness of ascorbic acid in therapeutic reduction of serum cholesterol levels and different types of cancer, growing demand for fresh leafy vegetable products, and increasing consumption of ascorbic acid to prevent vitamin C deficiency are key factors expected to boost demand for ascorbic acid and drive market revenue growth over the forecast period. Ascorbic acid is crucial for development and maintenance of connective tissues, bone formation, wound healing, maintenance of healthy gums and protects the immune system by fighting against infections.
Ascorbic acid is one of the most effective antioxidants that is naturally available and plays a crucial role in various metabolic reactions and repair and regeneration processes in the body. Ascorbic acid is necessary for several physiological functions including biosynthesis and metabolism of tyrosine, conversion of cholesterol to bile acids which lowers serum cholesterol levels, increasing iron absorption, and to protect body from damages caused by free radicals. High-dose ascorbic acid therapy is widely used in the treatment and prevention of numerous chronic disorders such as atherosclerosis and other heart diseases, diabetes, cataracts, stroke, and cancer, among others. Ascorbic acid also boosts immunity, reduces infection, and minimizes severity of allergies. Ascorbic acid is abundantly found in citrus fruits, green peppers, red peppers, tomatoes, broccoli, and strawberries, among others.
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Ascorbic acid is generally safe and well tolerated but is contraindicated in patients with high risk of kidney stones and blood disorders such as thalassemia and others. High doses of ascorbic acid can also cause gastrointestinal disturbances or diarrhea and this can limit its usage in certain conditions. In addition, side effects associated with ascorbic acid such as nausea, vomiting, and redness of skin can potentially hamper adoption of vitamin C supplements and this can hamper market growth to a certain extent over the forecast period.
Some Key Highlights from the Report:
- Sodium ascorbate segment is expected to account for largest revenue share between 2021 and 2028 due to growing use of sodium ascorbate as antioxidant in food products, increasing approval for its use from major regulatory authorities, use as stabilizer and conditioner in bakery items, and increasing number of research studies to explore its cytotoxic activity in cancer therapy.
- Food grade segment is expected to register significant revenue growth over the forecast period owing to rising use of food grade ascorbic acid in fruit juices and frozen fruit to fortify and enhance citrus flavor, as a chemical preservative in food, and in dietary supplements.
- Tablet segment is expected account for a considerably large revenue share over the forecast period attributable to increasing prescription of oral doses of vitamin C to treat infections and certain chronic diseases, availability of extended-release and chewable tablets, and rising preference for oral administration of vitamin C due to enhanced safety.
- Food & beverage segment is expected to dominate other application segment in terms of revenue growth during the forecast period. Revenue growth of the segment can be attributed to growing use for ascorbic acid as a preservative and an antioxidant in food products to preserve freshness, color and reduce spoilage, growing demand for canned and ready-to-eat foods, and availability of food grade ascorbic acid in powdered and tablet form at cost-affordable prices.
- Asia Pacific is expected to register steady revenue CAGR over the forecast period attributable to increasing manufacturing of Vitamin C in China, increasing demand for ascorbic acid due to growing demand for convenience foods, high prevalence of vitamin deficiencies and subsequent consumption of vitamin C supplements, and popularity of Vitamin C-rich cosmetic and personal care products.
- Key companies operating in the market include CSPC Pharmaceutical Group, Koninklijke DSM N.V., Northeast Pharmaceutical Group Co., Ltd., Shandong Luwei Pharmaceutical Co Ltd, Bactolac Pharmaceutical Inc., Shandong Tianli Pharmaceutical Co., Ltd., GlaxoSmithKline Plc., North China Pharmaceutical Company Ltd., Zhengzhou Tuoyang, Anhui Tiger Biotech Co., Ltd., Blagden Speciality Chemicals Ltd., Henan Xinxiang Huaxing Biological Pharmaceuticals Co., Ltd. , and BASF SE.
- In October 2021, First Base Skincare launch a Double Dose Superpower Organic Vitamin C serum which is a unique anti-aging serum that promotes hydration, collagen production and can be used on any skin type.
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For the purpose of this report, Reports and Data has segmented the global ascorbic acid market based on type, grade, form, application, and region:
Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Calcium Ascorbate
- Sodium Ascorbate
- Magnesium Ascorbate
- Potassium Ascorbate
- D-Isoascorbic Acid
Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Pharmaceutical Grade
- Food Grade
- Others
Form Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Tablet
- Tonic
- Injection
End-Use Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2028)
- Food & beverages
- Pharmaceutical
- Personal care
- Others
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
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