The global sales of ascorbyl palmitate are slated to grow at a robust CAGR of around 6.0% during the forecast period between 2022 and 2032. Growth in the market is driven by the rising adoption of ascorbyl palmitate across diverse end-use verticals such as the food and beverage industry, pharmaceutical industry, and personal care & cosmetic industry.
Ascorbyl Palmitate, a synthetic compound derived from ascorbic acid and palmitic acid, is gaining significant traction in the global market. With its multifunctional properties, it serves as a potent antioxidant, preservative, and stabilizer in various industries. The rising demand for natural and organic skincare and cosmetic products drives the growth of the Ascorbyl Palmitate industry.
Ascorbyl Palmitate is a fat-soluble form of vitamin C. Ascorbyl Palmitate is an ester that is formed from palmitic acid and ascorbic acid and is also known as Vitamin C Ester. Ascorbyl Palmitate is more stable than the water-soluble form of vitamin C, i.e., L Ascorbic Acid.
Ascorbyl Palmitate has applications in various industries such as food, pharmaceutical, dietary supplement, animal feed, etc. It is used for the preparation of various personal care and cosmetic products such as lotions, sun-protection creams, shampoos, anti-aging products, etc. Ascorbyl Palmitate is also used as an antioxidant and preservative in fragrances, natural oils, edible oils, etc. as it protects color, prevents oxidation, and improves the nutritional value of the product.
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The Antioxidant Property of Ascorbyl Palmitate Increases its Demand in the Food Industry
Due to hectic lifestyles, an increase in the number of working women, a preference for convenience, etc. the demand for processed food is increasing all across the world. But the major concern for the manufacturers of food products is to maintain the quality and the nutritional value of the final product. The change in the single ingredient present in the product can spoil the quality of the entire product, and therefore, ascorbyl palmitate can be used as an antioxidant food additive that prevents the oxidation of the product and helps to maintain the nutritional value of the final product. Therefore, the increase in demand for processed food products is expected to have a positive impact on the ascorbyl palmitate market.
Ascorbyl Palmitate Market: Key Participants
Some of the market participants in the Ascorbyl Palmitate industry are:
- Koninklijke DSM N.V.
- Yasho Industries
- Pacific Rainbow International, Inc.
- Penta International Corporation
- Spectrum Chemical Mfg. Corp.
- A to Z Nutrition International Inc.
- NOW Foods
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Ascorbyl Palmitate Market Segmentation
The Ascorbyl Palmitate industry can be segmented on the basis of form, grade, end use, and distribution channel:
On the basis of form, the Ascorbyl Palmitate market can be segmented as:
- Powder
- Liquid
On the basis of grade, the Ascorbyl Palmitate market can be segmented as:
- Pharmaceutical Grade
- Food Grade
On the basis of end-use, the Ascorbyl Palmitate market can be segmented as:
- Food and Beverage Industry
- Personal Care and Cosmetic Industry
- Dietary Supplement Industry
- Others (Pharmaceutical Industry, etc.)
On the basis of the distribution channel, the coconut cream market is segmented into-
- Direct Sales/B2B
- Indirect Sales/B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
- Online Retailing
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