Ascorbic Acid Market Size, Share, Top Key Players, Growth, Trend and Forecast Till 2027

The elevating use of ascorbic acid in personal care products and the increasing demand for ascorbic acid for food fortification have resulted in boosting the Ascorbic Acid market.

Market Size – USD 1.04 Billion in 2018, Market Growth – CAGR of 5.0%, Market Trends – The elevating use of ascorbic acid in personal care products

The Global Ascorbic Acid market is forecast to reach USD 1.63 Billion by 2027, according to a new report by Reports and Data. One of the major use of ascorbic acid is treating or preventing low levels of vitamin C among individuals lacking the vitamin in their diet. Usually, individuals with a balanced diet do not require to take it in supplement. The deficiency of vitamin C results in conditions like scurvy. Rising awareness about the adverse health impact of its deficiency acts as a major supporting factor for the expansion of the market. Its major antioxidant properties have resulted in its extensive use in the healthcare and beauty industry. It has a molecular formula of C6H8O6. Thus, factors like the increasing demand for ascorbic acid for food fortification, and the elevating use of ascorbic acid in personal care products are fostering the growth of the market. New product launches are also propelling the sector’s growth. As an instance, in November 2019, Blagden had launched a new stabilised Ascorbic Acid in the personal care sector in the UK. Such new launches results in elevating demand for this organic compound.

In regards to region, North America can be seen to hold a considerable share of the market. The market share held by this region is attributed to a well-established personal care sector and continuously growing pharmaceutical industry.

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The Ascorbic Acid market report offers key insights into market scope along with emerging growth opportunities over the forecast period. The report also provides information about the competitive landscape of the global Ascorbic Acid market. The global Ascorbic Acid market is fragmented due to presence of numerous key players on a global and regional scale. Key players are focused on mergers and acquisitions, joint ventures, collaborations, partnerships, and research and development activities to expand their product portfolio and gain a robust footing in the market.

Key companies operating in the Ascorbic Acid Market and profiled in the report are:

CSPC Pharma, DSM, Northeast Pharma, Shandong Luwei, Shandong Tianli, North China Pharma, Zhengzhou Tuoyang, Anhui Tiger, Henan Huaxing and BASF SE.

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The report provides a significant assessment of the recent market trends, revenues, segments, and key regions across the globe. The regional analysis covers major geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report analyzes key regions for production and consumption patterns, import/export, market share, revenue contribution, growth rate, and supply and demand ratio for the forecast period 2021-2027. It also discusses the impact of government regulations, macro- and micro-economic factors, and economic growth of the region on overall market growth.

Ascorbic Acid Market Segmentation by Type:

Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

  • Calcium Ascorbate
  • Sodium Ascorbate
  • Magnesium Ascorbate
  • Potassium Ascorbate
  • D-Isoascorbic Acid

Grade Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

  • Pharmaceutical Grade
  • Food Grade
  • Others

Ascorbic Acid Market Segmentation by Application:

Form Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

  • Tablet
  • Tonic
  • Injection

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

  • Food & beverages
  • Pharmaceutical
  • Personal care
  • Others

Regional analysis covers:

  • North America (U.S.A., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Questions Answered by the Report:

  • What are the key growth driving and restraining factors of the Ascorbic Acid market?
  • What are key opportunities and growth prospects of the Ascorbic Acid industry is expected to witness over the forecast period?
  • Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
  • Which region is expected to dominate the market growth over the forecast period?
  • Which segments are expected to register lucrative growth over the forecast period?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?

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