The global vitamin C market size was valued at USD 2 billion in 2022 and is expected to hit around USD 3.56 billion by 2032, growing at a compound annual growth rate (CAGR) of 6% from 2023 to 2032.
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Access our Premium Real Time Data Intelligence Tool, Visit: Precedence Statistics
Vitamin C is from those extremely essential nutrients which are helpful for the body. Vitamin C is extremely helpful for preventing any type of cardiovascular diseases. It also helps in preventing many eye diseases. Vitamin C is extremely essential for a good fetal growth and it helps in preventing any health complications related to the fetus. There are many citrus rich fruits or vitamin C rich fruits available in the market like Kiwi, orange and lemon which are in demand due to the health benefits associated with the consumption of these fruits. Vitamin C is extremely helpful for the body as it helps in the absorption of iron is an extremely important aspect for the overall growth of the individual. There is a growing importance of vitamin C in the food industry as well as the beverages industry as there is an awareness regarding the benefits of this nutrient. Vitamin C plays a very important role in stabilizing the micronutrients in the body.
There have been many obstacles in the growth of the market during the pandemic. Due to a complete shutdown during the COVID-19 pandemic there was a shortage in the production of the liquids or the tablets which provide vitamin C. The market for vitamin C supplement had gone down as there was lesser income generated due to its sales. Due to lack of human labor available the production activities had come to a halt. The logistic operations were also disrupted due to restricted movement which affected the market negatively. The vitamin C market faced many challenges during the pandemic. But as vitamin C happens to boost immunity and increasing awareness of the consumption of vitamin C in order to combat the COVID-19 virus people started consuming this product on a large scale. There was no growth in the demand for vitamin C supplements across the globe. Due to the fear of shortage consumers ended up purchasing vitamin C supplements in bulk, and this created an abnormal condition in the market during the pandemic.
The vitamin C market is expected to grow well in the coming years due to its increased use in many food items or Due to the use of vitamin C as supplements. There is a growing demand for food items that contain good amount of vitamin C. Apart from playing an important role in preventing different types of heart diseases vitamin C is also very important as it helps in repairing the cells of the body. As there is a growing demand for vitamin C supplements or even food products that are rich in vitamin C the market is expected to grow in the coming years. There's a growing demand for preservatives and vitamin C happens to be your natural preservative which helps in improving the shelf life of the products hence the market is expected to grow in the coming years. As vitamin C also plays a good role in absorption of iron in the body there is a go rowing demand for vitamin C. Apart from Kiwi or lemon or even orange there are many other fruits which contain good amount of Vitamin C, like guava, gooseberry and papaya. Vitamin C holds an important please in the food and beverages industry. Increased use of vitamin C in this industry will lead to a growth of the market.
During the pandemic there was a higher demand for vitamin C supplements. Minor symptoms of the COVID-19 virus were treated by vitamin C supplements. There was a growing demand for these supplements as there was a growing concern regarding the immunity. After the growing demand for products that have natural contents which will be helpful in providing antioxidants there is a growth in the vitamin C market. The demand for vitamin C products have been increased due to an increased production through the pharmaceutical as well as the health care sector.
Vitamin C happens to be here functional food and there is a growing demand in the developed as well as the developing nations. Vitamin C is an important aspect of the fortified foods and there are many initiatives taken by the governments in order to increase the supply of such foods which are extremely helpful for the population of the developing nations. As there is a growth in the investments for the research and development activities by the major market players the market is expected to grow well in the coming year period increased use of vitamin C as a functional product in the pharmaceutical and medical sector the market shall grow in the coming year period
Report Scope of the Vitamin C Market
|Market Size by 2032||USD 3.56 Billion
|Growth Rate from 2023 to 2032||
CAGR of 6%
|Pharmaceuticals Application Segment Share in 2022||20%|
|North American Market Share in 2022||49%|
|Forecast Period||2023 to 2033|
|Segments Covered||Type, Source, Process, Application, Form, Geography|
|Companies Mentioned||Beijing Heronsbill Food Material Co.,Ltd, Duchefa Biochemie, Medibro Corporation Limited, ADM, Sanofi, Bayer AG, Chemizo Enterprise, Foodchem International Corporation, Mudanjiang High-Tech Biochemical Co. Ltd., Amway India Enterprises Pvt. Ltd, CSPC Pharmaceutical Group Limited, Glanbia plc, Northeast Pharmaceutical Group Co.,Ltd., The TNN Development Limited, Microbelcaps, DSM, DuPont|
On the basis of the type of vitamin C, the sodium ascorbate segment has accounted the largest market share in 2022. As sodium ascorbate is high in antioxidants the market for this type of vitamin C is expected to have a larger market share in the coming years. This segment is expected to have a larger market share due to its property of being absorbed easily in the body and staying in the body for a longer period of time. Written in C in the form of sodium ascorbate is extremely efficient in case a person is suffering with vitamin C deficiency. It is also very effective In the prevention of the deficiency. Vitamin C in the type of sodium ascorbate it will be extremely effective entreating scurvy which is a deficiency disease of vitamin C.
On the basis of the source, the natural sources segment is expected to have a dominant position in the coming years. There are many citrus fruits like lemons, oranges, tomatoes, green Peppers and papaya which are extremely high in the Vitamin C content. Juices and green leafy vegetables are also a great source of vitamin C. Kiwi fruit and berries are also a rich source in this nutrient.
By form, the tablet segment accounted largest market share in 2022. The shelf life of these two forms is not better than the tablet form and hence the segment is expected to grow well in the coming years. Vitamin C in the form of tablet happens to be here easier option and a convenient option compared to the other two options. This is a hassle free option and therefore the market is expected to grow for this segment. The vitamin C tablets are available in the form of capsules which help in providing vitamin C as per the daily requirement of the body. The tablet segment is expected to grow in the coming years as it happens to be a fat free option.
By application, the food and beverages industry dominated the market in 2022. Increased use of vitamin C in various processed foods as well as beverages is expected to drive the market growth. This segment will have a larger market share in terms of revenue. Due to an increasing awareness regarding the health benefits of vitamin C there is a growing demand for vitamin C in different food products across the globe. There's an increased demand for vitamins see as a function of food. Apart from the food and beverages industry the cosmetics industry is also expected to grow well in the coming years.
In the Pharmaceutical industry there is an increased use of vitamin C in different formats for the production of various facial applications as well as supplements. There's a growing demand for the use of vitamin C in the Pharmaceutical industry for the production of various medicinal products which are extremely useful for the bones and the skin of an individual. The increased use of vitamin C in the Pharmaceutical industry is due to its property of healing big wounds.
The North American region has a dominating position for the vitamin C market. Growing demand for various pharmaceutical and cosmetic products which contain vitamin C is expected to drive the market in the North American region. Due to an increase in the disposable income that is a growth in the demand for vitamin C in various formats. North America growing fasters due to an increased use of vitamin C in various cosmetics in the form of moisturizers or serums. Vitamin C is extensively used in the treatment of cancer patients as it helps in soothing the inflammation. Add vitamin C happens to be a great antioxidant there is an increased use of this product in personal care.
Apart from the North American region the Asia Pacific region is also expected to gain momentum in the coming years. Vitamin C is exported on a large scale from the Chinese markets.
Key Market Developments
Key Market Players
Segments covered in the report
PROCEED TO BUY :
ASK FOR SAMPLE
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client