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Ascorbic Acid Global Market Analysis, Trends, Growth, Research And Forecast 2033
Ascorbic Acid Global Market
As per the report, the ascorbic acid market size has grown strongly in recent years. It will grow from $1.49 billion in 2023 to $1.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The ascorbic acid market size is expected to see strong growth in the next few years. It will grow to $2.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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Addressing Chronic Diseases And Enhancing Global Health
The rising need to reduce the risk of chronic diseases is expected to propel the growth of the ascorbic acid market going forward. 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. For instance, in March 2021, the National Institute of Health (NIH), a US-based medical and behavioral research agency, published a report stating that daily intake of vitamin C can reduce the risk of cancer by up to 63% and the chances of heart stroke by 42% in adults. Additionally, according to the World Health Organization data 2021, a Switzerland-based government agency responsible for international public health, cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. Therefore, the rising need to reduce the risk of chronic diseases will drive the growth of the ascorbic acid market.
Ascorbic Acid's Evolution In Diverse Applications, With A Spotlight On Neostrata's Vitamin C Serum In Cosmetics
Product innovations are a key trend gaining popularity in the ascorbic acid market. 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.
The ascorbic acid market covered in this report is segmented -
1) By Type: Calcium Ascorbate, Sodium Ascorbate, Magnesium Ascorbate, Potassium Ascorbate, D-Isoascorbic Ascorbate
2) By Grade: Pharmaceuticals Grade, Food Grade, Other Grades
3) By Form: Tablet, Tonic, Injection
4) By Distribution Channel: Online, Offline
5) By Application: Food and Beverages, Pharmaceutical, Cosmetics, Chemicals, Agriculture, Other Applications
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Major companies operating in the ascorbic acid market report are Koninklijke DSM NV, Northeast Pharmaceutical Group Co. Ltd., CSPC Pharmaceutical Group, Bactolac Pharmaceutical Inc., BASF SE, LabChem Inc., Muby Chemicals Pvt. Ltd., Merck & Co. Inc., Foodchem International Corporation, Bayer AG, North China Pharmaceutical Group, Sigma-Aldrich Corporation, The Bountiful Company, Reckon Organics Pvt. Ltd., Homart Pharmaceuticals Pty Ltd., Archer-Daniels-Midland Company, Amway Corporation, Tirlán Co-operative Society Limited, Changsha Natureway Co. Ltd., DSM Nutritional Products AG, Glanbia plc, Gujchem Biotech, Hangzhou Go Top Peptide Biotech Co. Ltd., Hebei Welcome Pharmaceutical Co. Ltd., Huachang Pharmaceuticals, LGM Pharma LLC, Nutrilo GmbH, Shaanxi Iknow Biotechnology Co. Ltd., Shandong Luwei Pharmaceutical, Sichuan Tongsheng Amino Acid Co. Ltd.
Contents of the report:
1. Executive Summary
2. Ascorbic Acid Market Report Structure
3. Ascorbic Acid Market Trends And Strategies
4. Ascorbic Acid Market - Macro Economic Scenario
5. Ascorbic Acid Market Size And Growth
…..
27. Ascorbic Acid Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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