Ascorbic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
Global Ascorbic Acid Market Poised for Remarkable Growth, Reaching New Heights by 2031
Ascorbic acid, a vital compound recognized for its myriad applications across various industries, is on track to witness a substantial surge in demand, steering the global market towards unprecedented growth. With its versatile functional attributes and indispensable role in nutrition, ascorbic acid continues to carve a significant niche in the food & beverage, pharmaceutical, agricultural, and cosmetic sectors worldwide.
Driving Factors for Growth
The projected growth trajectory of the global ascorbic acid market is underpinned by several key factors. Shifting consumer preferences towards healthier dietary choices, coupled with an increasing emphasis on nutrition supplements, are fostering heightened demand for ascorbic acid. Its pivotal role in promoting skin health, facilitating wound healing, bolstering immune function, and supporting overall well-being positions it as a sought-after ingredient across various consumer product segments.
Furthermore, scientific evidence highlighting the correlation between adequate ascorbic acid intake and reduced risk of chronic diseases, including strokes, underscores its importance in maintaining optimal health. As health experts continue to advocate for the inclusion of ascorbic acid in daily diets, the market is poised to experience robust growth in the coming years.
Market Dynamics and Segmentation
The global ascorbic acid market is characterized by dynamic shifts and segmented based on product grade and application. Two primary grades, namely industrial and food & pharmaceutical, cater to diverse industry requirements. Within applications, segments such as food & beverage, pharmaceuticals, chemicals, personal care, agriculture, and others showcase distinct growth patterns, with the food & beverage sector expected to exhibit notable expansion during the forecast period.
Regional Outlook
South Asia emerges as a focal point for substantial market growth, driven by burgeoning demand from key economies such as China and India. These regions boast a vibrant landscape of small-scale manufacturing players, particularly in the chemical, pharmaceutical, and food sectors. Moreover, developed markets in Europe and North America are anticipated to maintain a significant share of the global market value, underscoring the widespread adoption of ascorbic acid across diverse industries.
Key Developments and Competitive Analysis
In response to escalating demand, market participants are increasingly adopting strategic initiatives such as mergers, expansions, acquisitions, and product innovations. These endeavors not only cater to evolving customer needs but also contribute to the overall competitiveness of the global ascorbic acid market.
Major players including:
• Sigma-Aldrich Corporation (Merck)
• Koninklijke DSM N.V.
• Northeast Pharmaceutical Group Co., Ltd.
• CSPC Pharmaceutical Group Limited
• MUBY CHEMICALS
• Shandong Luwei Pharmaceutical
• North China Pharmaceutical Co. Ltd
• Glanbia Nutritionals China (Suzhou) Co., Ltd
• LabChem Inc.
• China BBCA Group Corporation
• Other
Future Outlook
Looking ahead, the global ascorbic acid market is poised for unprecedented growth, buoyed by a confluence of factors including rising consumer awareness, expanding application areas, and strategic industry investments. With an estimated incremental opportunity of US$ 720 million by 2031 and a projected compound annual growth rate (CAGR) of 6.1% over the forecast period (2024-2031), the market is primed to unlock new avenues of growth and innovation.
Global Ascorbic Acid Market: Market Segmentation
Ascorbic Acid Grade
• Food & Pharmaceutical
• Industrial
Ascorbic Acid Application
• Food & Beverages
• Pharmaceutical
• Cosmetics
• Chemicals
• Agriculture
• Others
Region
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
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- 1. Executive Summary
- 1.1. Global Ascorbic Acid Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value, 2024
- 1.5. Analyst Recommendations
- 2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.3. Value Chain Analysis
- 2.4. Porter’s Five Forces Analysis
- 2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
- 2.6. Impact of Ukraine-Russia Conflict
- 2.7. Economic Overview
- 2.7.1. World Economic Projections
- 2.8. PESTLE Analysis
- 3. Global Ascorbic Acid Market Outlook, 2018 – 2031
- 3.1. Global Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 3.1.1. Key Highlights
- 3.1.1.1. Powder
- 3.1.1.2. Liquid
- 3.2. Global Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 3.2.1. Key Highlights
- 3.2.1.1. Food and Beverage
- 3.2.1.2. Pharmaceuticals
- 3.2.1.3. Nutraceuticals
- 3.2.1.4. Cosmetics and Personal Care
- 3.2.1.5. Pet Food
- 3.2.1.6. Animal Feed
- 3.3. Global Ascorbic Acid Market Outlook, by Region, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 3.3.1. Key Highlights
- 3.3.1.1. North America
- 3.3.1.2. Europe
- 3.3.1.3. Asia Pacific
- 3.3.1.4. Latin America
- 3.3.1.5. Middle East & Africa
- 4. North America Ascorbic Acid Market Outlook, 2018 – 2031
- 4.1. North America Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.1.1. Key Highlights
- 4.1.1.1. Powder
- 4.1.1.2. Liquid
- 4.2. North America Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.2.1. Key Highlights
- 4.2.1.1. Food and Beverage
- 4.2.1.2. Pharmaceuticals
- 4.2.1.3. Nutraceuticals
- 4.2.1.4. Cosmetics and Personal Care
- 4.2.1.5. Pet Food
- 4.2.1.6. Animal Feed
- 4.2.2. BPS Analysis/Market Attractiveness Analysis
- 4.3. North America Ascorbic Acid Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.3.1. Key Highlights
- 4.3.1.1. U.S. Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.3.1.2. U.S. Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.3.1.3. Canada Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.3.1.4. Canada Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
- 5. Europe Ascorbic Acid Market Outlook, 2018 – 2031
- 5.1. Europe Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.1.1. Key Highlights
- 5.1.1.1. Powder
- 5.1.1.2. Liquid
- 5.2. Europe Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.2.1. Key Highlights
- 5.2.1.1. Food and Beverage
- 5.2.1.2. Pharmaceuticals
- 5.2.1.3. Nutraceuticals
- 5.2.1.4. Cosmetics and Personal Care
- 5.2.1.5. Pet Food
- 5.2.1.6. Animal Feed
- 5.2.2. BPS Analysis/Market Attractiveness Analysis
- 5.3. Europe Ascorbic Acid Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1. Key Highlights
- 5.3.1.1. Germany Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.2. Germany Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.3. U.K. Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.4. U.K. Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.5. France Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.6. France Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.7. Italy Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.8. Italy Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.9. Turkey Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.10. Turkey Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.11. Russia Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.12. Russia Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.13. Rest of Europe Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.1.14. Rest of Europe Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
- 6. Asia Pacific Ascorbic Acid Market Outlook, 2018 – 2031
- 6.1. Asia Pacific Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.1.1. Key Highlights
- 6.1.1.1. Powder
- 6.1.1.2. Liquid
- 6.2. Asia Pacific Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.2.1. Key Highlights
- 6.2.1.1. Food and Beverage
- 6.2.1.2. Pharmaceuticals
- 6.2.1.3. Nutraceuticals
- 6.2.1.4. Cosmetics and Personal Care
- 6.2.1.5. Pet Food
- 6.2.1.6. Animal Feed
- 6.2.2. Others BPS Analysis/Market Attractiveness Analysis
- 6.3. Asia Pacific Ascorbic Acid Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1. Key Highlights
- 6.3.1.1. China Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.2. China Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.3. Japan Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.4. Japan Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.5. South Korea Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.6. South Korea Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.7. India Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.8. India Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.9. Southeast Asia Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.10. Southeast Asia Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.11. Rest of Asia Pacific Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.1.12. Rest of Asia Pacific Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
- 7. Latin America Ascorbic Acid Market Outlook, 2018 – 2031
- 7.1. Latin America Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.1.1. Key Highlights
- 7.1.1.1. Powder
- 7.1.1.2. Liquid
- 7.2. Latin America Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.2.1.1.Food and Beverage
- 7.2.1.2. Pharmaceuticals
- 7.2.1.3. Nutraceuticals
- 7.2.1.4. Cosmetics and Personal Care
- 7.2.1.5. Pet Food
- 7.2.1.6. Animal Feed
- 7.2.2. BPS Analysis/Market Attractiveness Analysis
- 7.3. Latin America Ascorbic Acid Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1. Key Highlights
- 7.3.1.1. Brazil Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.2. Brazil Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.3. Mexico Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.4. Mexico Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.5. Argentina Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.6. Argentina Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.7. Rest of Latin America Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.1.8. Rest of Latin America Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
- 8. Middle East & Africa Ascorbic Acid Market Outlook, 2018 – 2031
- 8.1. Middle East & Africa Ascorbic Acid Market Outlook, by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.1.1. Key Highlights
- 8.1.1.1. Powder
- 8.1.1.2. Liquid
- 8.2. Middle East & Africa Ascorbic Acid Market Outlook, by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.2.1. Key Highlights
- 8.2.1.1.Food and Beverage
- 8.2.1.2. Pharmaceuticals
- 8.2.1.3. Nutraceuticals
- 8.2.1.4. Cosmetics and Personal Care
- 8.2.1.5. Pet Food
- 8.2.1.6. Animal Feed
- 8.2.2. BPS Analysis/Market Attractiveness Analysis
- 8.3. Middle East & Africa Ascorbic Acid Market Outlook, by Country, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1. Key Highlights
- 8.3.1.1. GCC Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.2. GCC Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.3. South Africa Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.4. South Africa Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.5. Egypt Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.6. Egypt Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.7. Nigeria Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.8. Nigeria Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.9. Rest of Middle East & Africa Ascorbic Acid Market by Form, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.1.10. Rest of Middle East & Africa Ascorbic Acid Market by End Use, Value (US$ Bn) and Volume (Tons), 2018 – 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
- 9. Competitive Landscape
- 9.1. Manufacturer vs by End Use Heatmap
- 9.2. Company Market Share Analysis, 2023
- 9.3. Competitive Dashboard
- 9.4. Company Profiles
- 9.4.1. LafargeHolcim
- 9.4.1.1. Company Overview
- 9.4.1.2. Product Portfolio
- 9.4.1.3. Financial Overview
- 9.4.1.4. Business Strategies and Development
- 9.4.2. Compagnie de Saint-Gobain S.A
- 9.4.2.1. Company Overview
- 9.4.2.2. Product Portfolio
- 9.4.2.3. Financial Overview
- 9.4.2.4. Business Strategies and Development
- 9.4.3. National Gypsum Properties LLC
- 9.4.3.1. Company Overview
- 9.4.3.2. Product Portfolio
- 9.4.3.3. Financial Overview
- 9.4.3.4. Business Strategies and Development
- 9.4.4. Boral limited
- 9.4.4.1. Company Overview
- 9.4.4.2. Product Portfolio
- 9.4.4.3. Financial Overview
- 9.4.4.4. Business Strategies and Development
- 9.4.5. Cerberus and Koch
- 9.4.5.1. Company Overview
- 9.4.5.2. Product Portfolio
- 9.4.5.3. Financial Overview
- 9.4.5.4. Business Strategies and Development
- 9.4.6. PABCO Building Products, LLC
- 9.4.6.1. Company Overview
- 9.4.6.2. Product Portfolio
- 9.4.6.3. Financial Overview
- 9.4.6.4. Business Strategies and Development
- 9.4.7. USG Corporation
- 9.4.7.1. Company Overview
- 9.4.7.2. Product Portfolio
- 9.4.7.3. Financial Overview
- 9.4.7.4. Business Strategies and Development
- 9.4.8. American Gypsum
- 9.4.8.1. Company Overview
- 9.4.8.2. Product Portfolio
- 9.4.8.3. Financial Overview
- 9.4.8.4. Business Strategies and Development
- 9.4.9. FEECO International, Inc.
- 9.4.9.1. Company Overview
- 9.4.9.2. Product Portfolio
- 9.4.9.3. Financial Overview
- 9.4.9.4. Business Strategies and Development
- 9.4.10. Synthetic Material LLC
- 9.4.10.1. Company Overview
- 9.4.10.2. Product Portfolio
- 9.4.10.3. Financial Overview
- 9.4.10.4. Business Strategies and Development
- 10. Appendix
- 10.1. Research Methodology
- 10.2. Report Assumptions
- 10.3. Acronyms and Abbreviations
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