Ascorbic Acid Market, Size, Share, Industry Opportunities, Forecast Growth 2020-2028
A recent report published by QMI on Ascorbic acid market is a detailed assessment of the most important market dynamics. After carrying out thorough research of Ascorbic acid market, historical as well as current growth parameters, business expectations for growth are obtained with utmost precision. The study identifies specific and important factors affecting the market for Ascorbic acid during the forecast period. It can enable manufacturers of Ascorbic acid to change their production and marketing strategies in order to envisage maximum growth.
Increasing purchasing power, changing lifestyles and dietary habits across the globe are the key driving factor of this market. The vitamin deficiency concerns and health consciousness are expected to fuel the demand for global Ascorbic Acid Market. It also acts as a substitute for sweeteners.
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Understanding the chemistry and uses of Ascorbic acid
Ascorbic acid is also called as vitamin c; it is found in various foods and sold as a dietary supplement. It is used to prevent & treat scurvy. Vitamin C is a vital nutrient involved in the repair of tissue and the enzymatic production of certain neurotransmitters. Vitamin c is also required for the functioning of several enzymes. It is very important for the functioning of the immune system, and also acts as an antioxidant. It is unclear if supplementation affects cancer risk, cardiovascular disease and dementia. Vitamin C is tolerated well. Large or extra doses can cause gastrointestinal discomfort, sleep disturbance, headache, and skin flushing. Proper doses, during pregnancy, are safe and fine. It is either orally consumed or administered through injection.
Ascorbic acid is used in various important end-use industries. The market is divided by end-user into pharmaceuticals, food & beverages, personal care, and others. In terms of the pharmaceutical industry, ascorbic acid finds a major application in the manufacturing of antioxidants. In the food & beverage industry, it is growing at a high rate, owing to the rising health issues; it is acting as a substitute for sweeteners. Vitamin C & its salts are used in various cosmetics and personal care product formulation, owing to slow deterioration caused by exposure to the air and their ability to control finished product pH. Vitamin C rejuvenates skin & reduces wrinkles, and aging. There is an increasing demand for anti-aging creams, sunscreen lotions, and other bio-based products.
Significant Factors Impacting Market Growth:
o Vitamin deficiency concerns
o Rising concern for health issues
o Substitute for sweeteners
o Rising demand for anti-aging products
Insights about regional distribution of market:
Based on region, the ascorbic acid market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America and Western Europe being some of major markets are also traditional suppliers of chemicals such as specialty chemicals, bulk chemicals, and so on. Major companies in this market are headquartered in North America and Western Europe. These regions have been witnessing number of transitions in terms of productions of chemicals and respective applications by end-use industries.
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Asia Pacific and Middle East are expected to register substantial growth in ascorbic acid market during the forecast period. This demand is with regards to the growth of major Applications such as Children, Adult.
Eastern Europe has been largely dominated by Russia and Turkey with operations of major chemical giants in the region. Rest the World that includes South America and Africa has a strong potential for ascorbic acid market. There has been increasing number of investments by global companies in these regions to strengthen their presence and tap the potential market. Major economies in these regions for ascorbic acid market include Brazil, South Africa, Nigeria, Argentina, Colombia, and others.
Companies Covered: BASF SE, DSM, DuPont, Northeast Pharmaceutical Group, Bactolac Pharmaceutical Inc, CSPC Pharmaceutical Group, Hebei Welcome Pharmaceutical Co, North China Pharmaceutical Group, Dishman Group, Aland Nutraceuticals Group, NBTY Inc., GlaxoSmithKline Plc., and Shandong Luwei Pharmaceutical.
Market Segmentation:
By Product :
o Capsules
o Powders
o Tablets
o Others
By Application:
o Children
o Adult
By End-User:
o Pharmaceutical
o Food & beverages
o Personal Care
o Others
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Product
o By Application
o By End-User
o Western Europe
o By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
o By Product
o By Application
o By End-User
o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Product
o By Application
o By End-User
o Asia Pacific
o By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
o By Product
o By Application
o By End-User
o Middle East
o By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
o By Product
o By Application
o By End-User
o Rest of the World
o By Region (South America, Africa)
o By Product
o By Application
o By End-User
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