Ascorbic Acid Market is expand at a CAGR of 6.0% to reach USD 2.3 billion by 2032 - BASF SE, Merck KGaA, Koninklijke DSM NV, Northeast Pharmaceutical Group Co. Ltd.

The global ascorbic acid market was valued at USD 1.3 billion in 2022 and it is anticipated to grow further till USD 2.3 billion by 2032, at a CAGR of 6.0% during the forecast period.

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A water-soluble vitamin called ascorbic acid is beneficial for those with serious illnesses. The COVID-19 pandemic had a favorable effect on market growth because people needed more vitamin C to boost their immunity.

Additionally, ascorbic acid was used to treat COVID-19 patients who had only minor symptoms. Additionally, people were more likely to take vitamin C supplements to maintain their health and strengthen their defenses against the infection.

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Market Driver and Trends

In the following years, market growth is anticipated to be fueled by the increased demand for ascorbic acid in a number of industries, including baking, beverages, food processing, dietary supplements, and meat. Another important element boosting market expansion is the rise in cases of age-related macular degeneration and cataracts, as well as cancer, cardiovascular disease, the common cold, and cancer that can be protected by ascorbic acid absorption.

In addition to the increased incidence of chronic diseases, the government's expanding efforts to spread the word about ascorbic acid's advantages will also present growth prospects for the ascorbic acid sector.

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Global Ascorbic Acid Market Segmentation
By Type

Potassium Ascorbate
Calcium Ascorbate
Magnesium Ascorbate
Others
By Application

Food & Beverages
Pharmaceutical
Beauty & Personal Care
Animal Feed
By Form

Powder
Liquid

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Major Players in the Global Ascorbic Acid Market

The key players studied in the report are BASF SE, Merck KGaA, Koninklijke DSM NV, Northeast Pharmaceutical Group Co. Ltd., Luwei Pharmaceutical Group Co. Ltd., Foodchem International Corporation, Honson Pharmatech Group, MC Biotec Inc., Freshine Chem, and CSPC Pharmaceutical Group among others.

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