Vitamin C Market Size is expected to be worth USD 12.37 billion, growing at a CAGR of 2.88% from 2022 to 2030. Vitamin C can protect the body against various ailments such as cardiovascular disease, health problems, and eye diseases, among others. Lemon, orange, kiwifruit, and other vitamin C-rich fruits and vegetables are readily available on the market and offer a variety of health benefits to the target customers.
Vitamin C Market Size had several rise and fall in the industry due to the COVID-19 shutdown period. The production of tablets and liquids has been harmed due to the COVID-19. It affects the vitamin c supplement market's sales channel, resulting in lower market growth and income due to the distribution channels' stupendous working. The powdered vitamin c market's manufacturing stores have closed, and there has been a shortage of staff and ingredients due to shipping disruptions introduced by the pandemic.
Vitamin C has a rising significance in the food and beverage business, is linked to the industry's rapid growth and, as a result, its increased demand as a preservative. Vitamin C renders the absorption of iron in the body, making it an important ingredient in iron-processed meals. In the meantime, it is critical to stabilizing micro-nutrients in the body. Importantly, the US Food and Drug Administration has made the inclusion of micro-nutrient meals fortification necessary to provide nutritious food to the global population.
The vitamin C market has the following market segments:
Ascorbic Acid 90% Granulation
Ascorbic Acid 95% Granulation
Ascorbic Acid 97% Granulation
Coated Vitamin C
The vitamin C market is segmented into sodium ascorbate, calcium ascorbate, potassium ascorbate, magnesium ascorbate, and ascorbic acid with 90% granulation, D-isascorbic acid, ascorbic acid with 95% granulation, ascorbic acid 97% granulation, coated vitamin C, and others.
The vitamin C market is segmented into natural and synthetic based on the source.
Two-stage Fermentation Process
The process segment of the vitamin C market is segmented into the Reichstein process and the two-stage fermentation process.
The vitamin C market is segmented into tonics, tablets, granules, and injections based on form.
Food and Beverage
North America dominates the Vitamin C Market Overview in terms of market share and revenue and will continue to flourish its dominance during the forecast period. It is because of the rising level of disposable income and rising demand from the cosmetic industry in these regions.
On the other hand, Asia-Pacific is projected to exhibit the highest growth rate during the forecast period of 2022 to 2030 due to the growing demand for vitamin C products and increasing awareness about the advantages of vitamin C in this region.
Key players such as Northeast Pharmaceutical Group Co., The TNN Development Limited, and others carry out research & development activities to innovate vitamin C ingredients with increased application in the food & beverage industry and improve the quality of existing vitamin C ingredients to offer better health solutions to consumers. Key manufacturers are also carrying out various expansion strategies to increase their market presence by partnering with different manufacturers in the food & beverage and pharmaceutical industries around the globe.
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