According to an industry report, the vitamin C ingredients Market is expected to generate US$ 2,704 million by 2023. Estimates indicate the market is forecast to reach US$ 4,657.5 million between 2023 and 2033, representing a CAGR of 5.6%. The rising incidence of cardiovascular diseases and increasing demand for skin care products are expected to drive the market for vitamin C ingredients.
Companies that manufacture food, beverages, and dietary supplements may experience fluctuations in demand due to changes in consumer preferences, health trends, and research on its benefits. Since Vitamin C is a well-known antioxidant and contributes to the immune system, it has historically been in high demand. Water-soluble vitamins like this need to be replenished regularly through diet or supplements in order for the human body to store them. In addition to being found in many fruits and vegetables, vitamin C is also commonly found in food and beverage products, cosmetics, and dietary supplements.
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Several studies have suggested that vitamin C can be beneficial to heart health, especially when consumed in moderation. In addition to lowering blood pressure and reducing LDL cholesterol, it improves endothelial function, the key to a healthy circulatory system. Increasing stress levels and the occurrence of cancers are expected to grow the demand for vitamin C ingredients in the market. In studies, it has been proven that high doses of vitamin C could reduce the body’s stress response and reduce overall cortisol production.
Key Takeaways from the Market Study
- Between 2023 and 2033, the vitamin C ingredients market is likely to experience a CAGR of 5.6%.
- Based on the report, the vitamin C ingredients market experienced a growth rate of 2.4% between 2018 and 2022.
- The United States held 22.8% of the vitamin C ingredients market share in 2022.
- With strong growth over the past few years, China accounted for a 7.9% CAGR in 2022.
- According to estimates, Japan held a market share of 3.6% in 2022.
- A 4% share of the global market for vitamin C ingredients was contributed by the German market in 2022.
- By 2022, the United Kingdom represented a 3.8% revenue share in the vitamin C ingredient sales in the market.
“With chronic diseases on the rise and new products entering the market, the market is expected to see a growth in demand for vitamin C ingredients. Increasing demand for natural food ingredients combined with an increase in pharmaceutical and cosmetics demand will drive the market to grow,” says an FMI analyst.
Competitive Landscape
Vitamin C ingredients companies are engaging in various partnerships and collaborations to expand their business and gain synergistic benefits. As vitamin C ingredients are mostly used in bakery products, jams, and medicine along with sports nutrition, players in the vitamin C ingredients market are focusing their product offerings on food and beverage and pharmaceutical companies.
- In April 2023, Unilever introduced a topical formula that uses vitamin C and olivine extract to promote youthful, vibrant skin. Unilever claims that the leave-on formula contains vitamin C dissolved in sodium ascorbyl phosphate and a olivine mineral extract that improves skin tone, skin brightness, and masks visible signs of aging. Formulas could be manufactured as liquids, lotions, creams, foams, and sticks, but serums and essences were ideal.
Know More about What the Vitamin C Ingredients Market Report Covers
Future Market Insights offers an unbiased analysis of the global vitamin C ingredients market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the vitamin C ingredients market, the market is segmented based on product type, form, source, process, and end-use industry type across six major regions.
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Vitamin C Ingredients Market by Category
By Product Type:
- Ascorbic Acid
- Ascorbic Acid 90% Granulation
- Ascorbic Acid 95% Granulation
- Ascorbic Acid 97% Granulation
- Sodium Ascorbate
- Calcium Ascorbate
- Coated Vitamin C
- Others
By Form:
- Powder
- Granules
- Others
By Source:
- Natural
- Synthetic
By Process:
- Reichstein Process
- Two-Stage Fermentation Process
By End-Use:
- Food & Beverages
- Cosmetics & Personal Care Products
- Pharmaceuticals
- Animal Feed
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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