Vitamin C Ingredients Market Overview
Vitamin C Ingredients Market size is estimated to reach $ 10.68 Billion by 2026 and is poised to grow at a CAGR of 2.48% during the forecast period 2021-2026. Vitamin C is an essential antioxidant, also called ascorbic acid and readily available in natural fruits and vegetables. Vitamin C ingredients are known as the white soluble vitamins found mainly in fruits and vegetables. Citrus fruits like oranges, kiwis, lemons, guava, and grapefruit, and vegetables like broccoli, cauliflower, Brussels sprouts, and capsicum are rich sources of Vitamin C ingredients. Vitamin C ingredients include ascorbic acid, sodium ascorbate, calcium ascorbate, magnesium ascorbate, coated vitamin C and others. The global vitamin C ingredients market is growing at a significant rate owing to factors such as increased health awareness among consumers, an increase in the number of people suffering from vitamin C deficiency worldwide, and the increasing importance of products containing vitamin C for skin care and wound healing. Moreover, the additional benefits of Vitamin C ingredients such as proper functioning of the immune system, iron absorption, cartilage preservation, wound healing, and improved bone and dental health are estimated to drive the global market growth over the forecast period 2021-2026.
Geographically, North America is poised to see extraordinary development owing to the increase in the number of end users of vitamin C ingredients in the food and beverage industries in the region and is set to continue during the forecast period 2021-2026.
Based on Form, powder segment is gaining demand owing to its readily soluble nature in different consistencies during food processing.
The over-consumption of vitamin c ingredients leads to gastrointestinal irritation and diarrhea, which is estimated to restrain the market growth during the forecast period 2021-2026.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Vitamin C Ingredients Market report.
Vitamin C Ingredients Market Segment Analysis – By Form
The global Vitamin C Ingredients Market based on form can be further segmented into Granules, Powder, and others. The powder segment held the largest share in 2020. This is owing to its readily soluble nature in different consistencies during food processing. In addition, the powder form consists of super-smooth, unflavored vitamin C ingredients with no additional ingredients. The granular segment is estimated to be the fastest-growing segment with a CAGR of 3.12% during the forecast period 2021-2026. This is owing to the wide usage of granular vitamin C ingredients in personal care products.
Vitamin C Ingredients Market Segment Analysis – By Application
The global Vitamin C Ingredients Market based on Application can be further segmented into Pharmaceutical, Food and Beverages, Personal Care, and others. The Food and Beverages segment registers for the highest market share in 2020. This is owing to its different functions in individual ingredients such as color enhancer, flavor enhancer, nutrition enhancer, antioxidants, emulsifier and preservatives, it has boosted the demand for vitamin C ingredients across various food and beverage applications. The Pharmaceutical segment is estimated to be the fastest-growing segment. The demand of vitamin C ingredients is increasing in pharmaceutical industries owing to its multi-functional properties that provide various health benefits.
Vitamin C Ingredients Market Segment Analysis – By Geography
The global Vitamin C Ingredients Market based on Geography can be further segmented into North America, Asia-Pacific, Europe, and the Rest of the World. North America held the largest share of 34.2% in 2020. This is owing to the increase in the number of end users of vitamin C ingredients in the food and beverage industry, and the increased awareness among the consumers regarding the consumption of vitamin C ingredients. Asia-Pacific is estimated to be the fastest-growing segment owing to the increasing demand for Vitamin C products and the increasing awareness about the benefits of Vitamin C in the region.
Vitamin C Ingredients Market Drivers
Growing consumers preference for nutritional additives:
The awareness of high-quality foods, which contributes to good health and constitutes a high nutritional value, has pushed consumers towards healthy eating habits. Consumers seek quality products through their interest in food, without compromising the nutritional value and taste of the food. Vitamin C components serve this demand by adding flavor to food with a strong nutritional value. These ingredients provide a pleasant tart flavor, enhancing many nutritional products such as jams, jellies, candy, and fruit juices, and also providing benefits from the acidity surge that gives consumers the distinct impression of fresh fruit. This is estimated to boost the market during the forecast period 2021-2026.
Increasing demand of natural products:
Consumers are shifting towards natural food ingredients. The adequacy of natural products and the associated health benefits are among the factors affecting the popularity of naturally sourced vitamin C ingredients. Customer preferences for natural products have increased, and the reason for this is the increasing rate of the population suffering from various diseases and allergies to synthetic products, which has a positive effect on the market for vitamin C components, as they are obtained naturally.
Vitamin C Ingredients Market Challenges
Over-consumption of Vitamin C Ingredients sources
Vitamin C Ingredients have functional health benefits as it is an essential antioxidant, however, increasing incidences of gastrointestinal irritation and diarrhea owing to overconsumption of vitamin is estimated to restrict the market growth during the forecast period 2021-2026.
Vitamin C Ingredients Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Vitamin C Ingredients Market. Key companies of this market Koninklijke DSM N.V., Foodchem International Corporation, CSPC Pharmaceutical Group Limited, Nutricelebrity, Glanbia Nutritionals, The TNN Development Limited, Hunan Sunshine Bio-Tech Co. Ltd, Microbelcaps, Hangzhou Focus Corporation, Merck, Triveni Interchem Pvt. Ltd., Shandong Luwei Pharmaceutical Co., Ltd.
In March 2020, Kiehl’s Launches New Vitamin C Eye Serum, which is a potent blend of Hyaluronic Acid, and 10% Vitamin C ingredients to improve dark circles by 16.6% in seven days.
In July 2019, Koninklijke DSM N.V. has announced the expansion of its vitamin C facility in Jiangshan, China, for increasing the production of vitamin C ingredients. The company has invested in modernizing the facility in China for improving the performance of the plant, along with the quality and safety efficiencies.
In April 2019, Nutricelebrity has launched the innovative Vitamin C Serum, which is loaded with Vitamin C and powerful antioxidants to help preserve and also protects the skin’s youthful and supple appearance.