The market for ascorbic acid market was valued at USD 1.9 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% over the course of the forecast period. Vitamin C is known chemically as ascorbic acid. Ascorbic acid is essential for immune system maintenance as well as for tissue regeneration and repair. The market is expanding rapidly due to rising consumer awareness of the value of immunity and the need for ascorbic acid as an antioxidant in packaged foods.

The market's expansion is largely due to the rise in demand for dietary supplements around the world, particularly among youth. Ascorbic acid is frequently used to treat illnesses brought on by vitamin C deficiencies.

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Growth Drivers

The pharmaceutical and cosmetics industries' rising need for ascorbic acid is propelling the market's expansion. The market is expanding due to rising urbanization and disposable income. Food fortification initiatives and nutritional supplements are being promoted by governments worldwide.

The market is expanding as a result of rising demand for ascorbic acid in animal feed to improve development and immunological function. Because of its antioxidant qualities, vitamin C is abundant in skin-brightening and anti-aging products. The demand is being driven by the expansion of the skincare and personal care industries worldwide. In order to treat any condition caused by a vitamin C deficiency, ascorbic acid is essential.

Segmentation

Ascorbic Acid Market by Grade (USD Billion, 2019-2032)

·         Food Grade

·         Pharmaceutical Grade

·         Cosmetic Grade

·         Industrial Grade

Ascorbic Acid Market by Packaging (USD Billion, 2019-2032)

·         Bags

·         Drums

·         Tubes

·         Sachets

·         Other Packaging Format

By Region

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         DSM

·         CSPC Pharmaceutical Group

·         Northeast Pharmaceutical Group (NEPG)

·         North China Pharmaceutical Group

·         Shandong Luwei Pharmaceutical

·         Aland Nutraceuticals Group

·         Anhui Tiger Biotech

·         Bactolac Pharmaceuticals

·         Hebei Welcome Pharmaceutical

·         Shandong Tianli Pharmaceutical

·         Zhengzhou Tuoyang

·         Ningxia Qiyuan

·         Henan Huaxing Pharmaceutical

·         Foodchem International Corporation

·         Zhejiang Hangzhou Xinfu Pharmaceutical

·         Others

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