Ascorbic Acid Market 2023 Report By Key Companies, Regional Analysis And Forecast 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Ascorbic Acid Global Market Report 2023 identifies rising need to reduce the risk of chronic diseases as the major driver for the ascorbic acid market's growth in the forecast period. 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.

The global ascorbic acid market size is expected to grow from $1.40 billion in 2022 to $1.50 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ascorbic acid market is expected to grow to $1.96 billion in 2027 at a CAGR of 7%.

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Major competitors 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, Merck & Co Inc., Foodchem International Corporation, Bayer AG, North China Pharmaceutical Group.

A key trend in the ascorbic acid market includes product innovations.
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.

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The ascorbic acid market is segmented -
• By Type: Calcium Ascorbate, Sodium Ascorbate, Magnesium Ascorbate, Potassium Ascorbate, D-Isoascorbic Ascorbate

• By Grade: Pharmaceuticals Grade, Food Grade, Other Grades

• By Form: Tablet, Tonic, Injection

• By Distribution Channel: Online, Offline

• By Application: Food and Beverages, Pharmaceutical, Cosmetics, Chemicals, Agriculture, Other Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the ascorbic acid market.

The Business Research Company's "Global Ascorbic Acid Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Ascorbic Acid Market Include:
1. Executive Summary
2. Ascorbic Acid Market Characteristics
3. Ascorbic Acid Market Trends And Strategies
4. Ascorbic Acid Market - Macro Economic Scenario
5. Ascorbic Acid Market Size And Growth
……
26. Africa Ascorbic Acid Market
27. Ascorbic Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ascorbic Acid Market
29. Ascorbic Acid Market Future Outlook and Potential Analysis
30. Appendix

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