Ascorbic Acid Market Forecasts to 2028 – Global Analysis By Type (Calcium Ascorbate, D-Isoascorbic Acid, Magnesium Ascorbate and Other Types), Form (Injection, Tablet, Tonic and Other Forms), Grade (Food Grade, Pharmaceutical Grade and Other Grades), Dist

Ascorbic Acid Market Forecasts to 2028 – Global Analysis By Type (Calcium Ascorbate, D-Isoascorbic Acid, Magnesium Ascorbate and Other Types), Form (Injection, Tablet, Tonic and Other Forms), Grade (Food Grade, Pharmaceutical Grade and Other Grades), Distribution Channel (Online and Offline), End User and By Geography

According to Stratistics MRC, the Global Ascorbic Acid Market is accounted for $1.24 billion in 2022 and is expected to reach $1.87 billion by 2028 growing at a CAGR of 7.0% during the forecast period. Ascorbic acid, generally known as vitamin C, is present in a variety of foods. It functions as a dietary supplement that strengthens bones, promotes healthy skin, and combats bacterial infections. It has a significant function throughout the body. Vitamin C deficiency can result in issues including a rash, joint discomfort, and weakness. Ascorbic acid must be consumed by humans through foods such fruits, vegetables, and other sources. Because it aids in tissue healing and enzymatic synthesis, it is in great demand. It serves as an antioxidant as well.

According to the India Brand Equity Foundation, the Indian pharmaceutical market grew from 13.7% in July 2020 to 17.7% in August 2021.

Market Dynamics:

Driver:

Increasing R&D activities to explore anti-cancer activities of ascorbic acid

Ascorbic acid has recently re-emerged as a promising anti-cancer treatment, owing to growing knowledge about intravenous ascorbate pharmacokinetics and its mode of action against tumour cells. According to research, ascorbic acid administered orally and intravenously has various effects on cancer cells, and ascorbate treatment can be successful with the use of the proper protocols. Scurvy is more likely to strike cancer patients than ordinary people, yet its likelihood can be reduced with intravenous vitamin C therapy. Increasing investment to speed research on intravenous ascorbate as cancer therapy is a significant driver projected to fuel market growth.

Restraint:

Concerns regarding adverse effects of ascorbic acid

Although ascorbic acid is normally non-toxic, excessive amounts might produce gastrointestinal problems or diarrhea. According to several studies, using vitamin C supplements along with other medications may have negative health effects, and its interaction with lab testing may affect how illnesses are diagnosed. Too much ascorbic acid intake might increase the amount of oxalate in the kidneys, which can result in kidney stones. Headaches, flushing, nausea, and vomiting are among other side effects. Additionally, vitamin C supplementation is not advised in cases of thalassemia, sickle cell disease, and G6PD deficiency, among other blood diseases. This may further limit the use of vitamin C supplementation or IV ascorbate treatment, thus hampering market growth during the projection period.

Opportunity:

Application in disease prevention

Ascorbic acid has been demonstrated to be helpful in the treatment of a number of illnesses, such as cataracts, age-related macular degeneration, the common cold, and cancer. It has been shown to be involved in a number of bodily processes, including collagen synthesis, iron absorption, immune system operation, wound healing, and preservation of cartilage, bone, and teeth. The capacity of ascorbic acid to inhibit melanoma cell growth and speed up apoptosis, as demonstrated by in vitro research, is also expected to advance the market throughout the projection period.

Threat:

High cost of raw materials

The expansion of the ascorbic acid market would be severely hampered by changes in the price of raw materials. The ascorbic acid market is growing as a result of rising buying power and changes in lifestyle. The rise in raw material costs, however, is impeding the market expansion for ascorbic acid. The growth rate of the ascorbic acid market will be further slowed by an uncertain supply rate.

Covid-19 Impact

The COVID-19 epidemic has increased the demand for supplements. Online channels are employed to satisfy client needs since retail outlets are closed. There is a rise in spending on health supplements and immune boosters. However, the logistic network has been negatively impacted by the trade restrictions. Additionally, producers are having trouble getting enough raw materials to meet the increased demand. Along with protecting worker safety, businesses are adopting preventative steps to fulfil customer demands.

The sodium ascorbate segment is expected to be the largest during the forecast period

The sodium ascorbate segment is estimated to have a lucrative growth, due to increasing application of sodium ascorbate as a food antioxidant to prevent food deterioration and as an acidity regulator. Sodium ascorbate is widely used in nutritional supplements to prevent and treat vitamin C deficiency and other nutritional deficiencies. Sodium ascorbate is also used in bakery applications as a dough conditioner to stabilize gluten network by decreasing extensibility and increased elasticity, improves volume and texture of baked goods, and enhancing shelf life and dough quality of breads and rolls. These key factors are further boosting its adoption in various end-use applications and it is expected to drive revenue growth of the segment.

The food and beverages segment is expected to have the highest CAGR during the forecast period

The food and beverages segment is anticipated to witness the fastest CAGR growth during the forecast period, Due to an increasing awareness regarding the health benefits of vitamin C there is a growing demand for vitamin C in different food products across the globe. Additionally, its ability to produce nutritious, clean-label food and beverages from natural food ingredients is meeting the rising demand of health-conscious consumers while also extending the shelf life of items. As a result, ascorbic acid is widely used to strengthen or add a citrus flavor to cereals, dried fruits, cured meats, fruit-flavored candies, fruit juices, and frozen meals.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the growing demand for various pharmaceutical and cosmetic products which contain ascorbic acid. Because of the abundance of production facilities, the affordability of raw materials, and the substantial demand from developed countries, the dominance is projected to continue. The market for ascorbic acid in North America is also anticipated to be driven in the near future by rising diabetes incidence rates and the widespread availability of vitamin C supplements.

Region with highest CAGR:

Asia-Pacific is projected to have the highest CAGR over the forecast period, owing to increasing demand for health and dietary supplements in the region. The cost-effective manufacturing facilities in these nations are another factor contributing to the rapid growth of ascorbic acid use in Asian nations, particularly in India, China, and Japan. The demand for ascorbic acid is driven by the expansion of the pharmaceutical industry in the local market.

Key players in the market

Some of the key players profiled in the Ascorbic Acid Market include BASF SE, Henan Xinxiang Huaxing Biological Pharmaceuticals Co. Ltd., Anhui Tiger Biotech Co. Ltd., North China Pharmaceutical Company Ltd., CSPC Pharmaceutical Group, Blagden Speciality Chemicals Ltd., Zhengzhou Tuoyang, Shandong Tianli Pharmaceutical Co., Ltd., GlaxoSmithKline Plc., CSPC Pharmaceutical Group, Koninklijke DSM N.V., Bactolac Pharmaceutical Inc., Shandong Luwei Pharmaceutical Co. Ltd., Northeast Pharmaceutical Group Co., Ltd., Foodchem International Corporation, Life Extension

Key Developments:

In November 2021, Life Extension, which is a United States-based company that focuses on improving human lifespan by discovering methods to inhibit aging, launched a new Vitamin C 24-Hour Liposomal Hydrogel Formula that can dramatically increase body’s absorption of vitamin C. The product has been made by a combination of 350 mg of vitamin C with a novel liposomal delivery system. This system enables vitamin C to remain more active in the body as compared to conventional vitamin C supplement and can be absorbed over a prolonged period.

Types Covered:
• Calcium Ascorbate
• D-Isoascorbic Acid
• Magnesium Ascorbate
• Potassium Ascorbate
• Sodium Ascorbate

Forms Covered:
• Injection
• Tablet
• Tonic
• Other Forms

Distribution Channels Covered:
• Online
• Offline

End Users Covered:
• Food & beverages
• Personal care
• Pharmaceutical
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements