WASHINGTON, Nov. 08, 2022 (GLOBE NEWSWIRE) — The global Vitamin C Market was valued at $1.3 Billion in 2021 and is expected to reach $1.8 Billion by 2028, registering a CAGR of 6.1% during the forecast period of 2022-2028. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Vantage Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Vantage Market research has a newly released expansive study titled Global Vitamin C Market which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and succeeding in the market. This Vitamin C report has been produced, which results in significant growth, as well as robust sustainability in the market for the firms. This is due to the inclusion of precise facts and insights gained from market research. This study analyzes and talks about a variety of topics, including significant industry trends, estimations of market size, and market share. This report provides an advantage that not only allows one to compete but also allows one to excel over one’s rivals. It classifies the global Vitamin C market size in terms of value and volume according to the various types of manufacturers, applications, and regions. The outlook for the Vitamin C market and the Vitamin C industry as a whole appears to be quite positive during the projection period.
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Today, vitamin C supplements are available in a variety of forms, including tablets, capsules, powders, and liquids. Some people prefer to take their vitamin C supplement in the form of a drink, such as orange juice or lemonade. There are several reasons for this increase in demand and price of Vitamin C in the last few years. First, there has been an increase in awareness of the importance of vitamin C for human health. Second, the Chinese government has recently lifted its 20-year-old restrictions on private enterprises producing vitamins, which has resulted in more companies entering the market and increased competition. Third, new applications for vitamin C have been developed, such as using it as an additive in food and beverages or as a material in 3D printing.
When evaluating global supply, we found that while there are several producers of Vitamin C, the majority of production takes place in China. This concentration of production presents both risks and opportunities for companies looking to enter the Vitamin C market. On the one hand, Chinese suppliers may be able to exert significant pricing pressure on competitors. On the other hand, this concentration presents an opportunity for companies to differentiate themselves by offering a more reliable and/or higher quality product than what is currently available from Chinese producers.
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- Vantage Market Research’s findings of the Vitamin C market are that there is a great opportunity for growth in this market. The Vitamin C market is expected to reach $1.8 Billion by 2028, at a CAGR 6.1%.
- Most of the demand for vitamin C comes from developed countries, where it is used primarily as a dietary supplement. However, there is also a significant demand for vitamin C in developing countries, where it is used for its therapeutic properties.
- Greatest opportunity for growth in the vitamin C market lies in these developing countries, where the prevalence of chronic diseases is on the rise and awareness of the importance of vitamin C is growing.
- In terms of volume, the global Vitamin C market is expected to reach 141 thousand metric tons in 2024, up from 95 thousand metric tons in 2021.
- Majority of this growth will come from Asia Pacific, where VC demand is forecast to increase at a CAGR of 8.6% between 2021 and 2024.
List of Prominent Players in the Vitamin C Market:
- Foodchem International Corporation (China)
- Mudanjiang High-Tech Biochemical Co. Ltd. (China)
- Amway India Enterprises Pvt. Ltd (India)
- CSPC Pharmaceutical Group Limited (China)
- Glanbia PLC (Ireland)
- Northeast Pharmaceutical Group Co. Ltd. (China)
- The TNN Development Limited (China)
- Microbelcaps (Belgium)
- Beijing Heronsbill Food Material Co. Ltd (China)
- Duchefa Biochemie (Netherland)
- Medibro Corporation Limited (China)
- Chemizo Enterprise (India)
- DSM (Netherlands)
- DuPont (US)
- ADM (US)
- Sanofi (France)
- Bayer AG (Germany)
- Abbott (US)
- GlaxoSmithKline PLC (UK)
- Merck & Co. Inc. (US)
Increasing Awareness among Consumers About Role of Vitamin C in Boosting Immunity to Spur Market Growth
Vitamin C is found in many foods, especially citrus fruits. Vitamin C plays an important role in the body’s ability to repair damaged cells and produce collagen. A lack of vitamin C can lead to the development of scurvy, a condition that causes fatigue, muscle weakness, joint pain, and bleeding gums. While scurvy is rare in developed countries, it is still a concern for people who have limited access to fresh fruits and vegetables.
As a result, the demand for vitamin C has increased in recent years due to its role in boosting the immune system. Vitamin C is thought to help reduce the severity of colds and flu, and some research suggests it may also help prevent more serious conditions such as heart disease and cancer.
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The development of new products and services in the vitamin C industry offers exciting opportunities for entrepreneurs.
- Growing inclination towards dietary supplements: One area that is expected to grow significantly in the next few years is the market for dietary supplements. The vitamins, minerals, and other nutrients found in these products can help people fill nutritional gaps and improve their overall health.
- Increasing traction in cosmetic and personal care products: Another promising area of growth is the production of cosmetics and personal care products containing vitamin C. This nutrient has powerful antioxidant properties that can help protect the skin from damage caused by exposure to UV rays, pollution, and other environmental stressors.
- Increasing demand for vitamin C-rich foods and beverages: Consumers are becoming more aware of the health benefits of this nutrient, and they are looking for convenient ways to incorporate it into their diets.
Consumers are Putting More Emphasis on Organic Vitamin C and the Development of New Delivery Methods
In recent years, the vitamin C market has seen several trends emerge. The most notable trend has been the move towards natural and organic vitamin C products. This is in response to consumer demand for healthier, more natural alternatives to synthetic vitamins.
Other trends include the development of new delivery methods such as powder or liquid forms, as well as new formulations that combine vitamin C with other nutrients. There is also a growing trend towards personalized nutrition, with many consumers now looking for supplements that are tailored to their specific needs.
By Product Type:
- Sodium Ascorbate, Calcium Ascorbate, Potassium Ascorbate, Magnesium Ascorbate, Ascorbic Acid 90% Granulation, D-Isoascorbic Acid, Ascorbic Acid 95% Granulation, Ascorbic Acid 97% Granulation, Coated Vitamin C, Other Types
- Reichstein Process, Two-stage Fermentation Process
- Tonics, Tablets, Granules, Injections
- Pharmaceutical, Cosmetics, Food & Beverage, Animal Feed
- North America, Europe, Asia Pacific, Latin America, Middle East & Africa
VMR’s Survey Reveals Vitamin C Manufacturers are Feeling Pressure to Lower Prices
As the global vitamin C market continues to grow, so does the need for reliable information on who is manufacturing it. Vantage Market Research’s latest survey of vitamin C manufacturers provides valuable insights into the industry, including who the biggest players are and what they’re doing to stay ahead of the competition.
The report on vitamin C market includes data on production capacity, market share, product quality, and more. It also provides an overview of the competitive landscape and includes profiles of the leading companies in the industry.
The results of the survey showed that price competition is intense and most manufacturers are feeling pressure to lower the prices. In fact, cost is one of the biggest challenges faced by vitamin C manufacturers. The raw materials needed to produce the vitamin are expensive, and constantly rising prices make it difficult to keep up with demand. In addition, the process of manufacturing vitamin C is complex and time-consuming, further driving up costs.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Vitamin C market Forecast Report (2022-2028).
How Manufacturers are Responding?
As per VMR’s study, many manufacturers in the global vitamin C market are grappling with how to respond to the ever-changing regulatory environment. Recently, the FDA has tightened its regulations on vitamins and supplements in recent years, making it more difficult for manufacturers to meet all the requirements. This has led to some companies leaving the market altogether. On top of that the vitamin C market is becoming increasingly competitive, with new products and brands constantly entering the market. This makes it difficult for manufacturers to stand out from the crowd and get their products noticed by consumers.
Why Buy this Vitamin C Market Report?
- The report offers a comprehensive evaluation of the Global Vitamin C Market. The report includes verifiable data from authentic sources, in-depth qualitative analysis, and estimates about size of market. Estimates are calculated using proven research methods.
- The report includes in-depth market analysis using Ansoff Matrix and Porter’s 5 Forces Model. Apart from this, the pre-post impact of Covid-19 on the vitamin C market is also featured in the report.
- This vitamin C report has been organize through extensive primary and secondary research. Primary research is done through interviews, surveys and observation of eminent persons in the industry.
- The vitamin C industry report also includes a competitive analysis using the analyst’s proprietary competitive positioning tool.
- The report also covers the regulatory landscape in the vitamin C industry, which will help you make an informed decision. The report discusses key regulations and rules imposed on the sector by major regulatory bodies and various geographies.
China Produces 80% of the Commercial Vitamin C
The majority of the world’s vitamin C is produced in China. In fact, China produces about 70% of the global vitamin C market. Other major producers include India, the US, and Mexico.
Global vitamin C market is a massive industry, with the majority of vitamin C coming from China. In 2021, global production of vitamin C was estimated at 95,000 metric tons, with China accounting for approximately 76, 000 metric tons. The remaining production is split between the European Union, India, and the rest of the world. Most of the vitamin C produced in China is majorly used in dietary supplement.
The demand in the global vitamin C market is constantly growing, as it is an essential nutrient for humans and animals. Vitamin C is used in a variety of industries, including food and beverage, cosmetics, pharmaceuticals, and animal feed. As such, the global production of vitamin C is vital to meet the demands of these industries.
Recent Vitamin-C Industry Development
- One of the most exciting recent developments in the vitamin-C market is the finding of its ability to help improve cognitive function. Recent studies have found that vitamin-C supplementation can help to improve cognitive performance and memory in older adults. This is just one of many studies that are beginning to reveal the number of potential health benefits of vitamin-C.
- Most notable is the introduction of a new generation of vitamin-C products that are more effective and bioavailable than ever before. These products are now available from various manufacturers and are quickly becoming the first choice for many consumers.
What Makes China the Largest Producer of Vitamin C?
The majority of vitamin C produced in China is derived from Chinese cabbage and other cruciferous vegetables. These vegetables are grown in vast quantities in China, making it the ideal location for vitamin C production. In addition to Chinese cabbage, other popular sources of vitamin C include oranges, lemons, limes, grapefruits, and tomatoes.
Another reason China is the leading global vitamin C market is that the Chinese government has placed a priority on agricultural production, including the production of vitamin-rich crops. The government has invested heavily in agricultural research and development, and has provided subsidies and other financial incentives to farmers who grow vitamin C-rich crops. Yet another reason for China’s leading position in vitamin C production is its large population. With more than 1.37 billion people, China has a huge domestic market for vitamin C-containing products.
Thus, due to a combination of favorable conditions, including rich soil, a conducive climate, strong government support, and a large and health-conscious population, China is currently the leading global vitamin C market in the world.
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Scope of the Report:
|Market Size in 2021||USD 1.3 Billion|
|Revenue Forecast by 2028||USD 1.8 Billion|
|CAGR||6.1% from 2022 to 2028|
|Forecast Year||2022 to 2028|
|Key Players||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, Beijing Heronsbill Food Material Co. Ltd, Duchefa Biochemie, Medibro Corporation Limited, Chemizo Enterprise, DSM, DuPont, ADM, Sanofi, Bayer AG, Abbott, GlaxoSmithKline PLC, Merck & Co. Inc.|
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