What is Global Vitamin C Market?
The Global Vitamin C Market is a vast and dynamic sector that encompasses the production, distribution, and consumption of Vitamin C on a worldwide scale. This market is not confined to a single region or country but spans across the globe, making it a truly international industry. The market's value was estimated at US$ 1213.9 million in 2022 and is projected to reach US$ 1517.3 million by 2029. This indicates a steady growth rate, with a Compound Annual Growth Rate (CAGR) of 3.2% expected from 2023 to 2029. The production of Vitamin C is heavily concentrated in China, which holds more than 80.82% of the global production market share.
Food Grade Vitamin C, Pharmaceutical Grade Vitamin C, Feed Grade Vitamin C in the Global Vitamin C Market:
The Global Vitamin C Market is segmented into three categories based on the grade of Vitamin C: Food Grade, Pharmaceutical Grade, and Feed Grade. As of 2019, the Food Grade Vitamin C segment held the lion's share of the market, contributing about 64.0% of the total market share. This dominance can be attributed to the widespread use of Vitamin C in various food and beverage products due to its antioxidant properties and role in boosting immunity. The Pharmaceutical Grade Vitamin C segment, on the other hand, is used in the healthcare industry for the production of various drugs and health supplements. Lastly, the Feed Grade Vitamin C is used in animal feed to enhance the nutritional value and promote the overall health of livestock.
Food & Beverage, Pharmaceuticals & Healthcare, Feed, Cosmetics in the Global Vitamin C Market:
The usage of Vitamin C is not limited to the food and pharmaceutical industries. It also finds significant application in the Feed and Cosmetics sectors. In the Feed industry, Vitamin C is used as a nutritional supplement for livestock to boost their immunity and promote healthy growth. In the Cosmetics industry, Vitamin C is a popular ingredient in skincare products due to its antioxidant properties and its ability to promote collagen production, which helps in maintaining skin elasticity and reducing signs of aging.
Global Vitamin C Market Outlook:
The Global Vitamin C Market is a highly concentrated market, with a few key players dominating the industry. These include DSM, CSPC Pharma, Northeast Pharma, Shandong Luwei, Shandong Tianli, Anhui Tiger, Ningxia Qiyuan, Zhengzhou Tuoyang, and Henan Huaxing. The combined revenue of these top five manufacturers accounts for about 82.3% of the total revenue, indicating their significant influence and control over the market.
| Report Metric | Details |
| Report Name | Vitamin C Market |
| Accounted market size in 2022 | US$ 1213.9 million |
| Forecasted market size in 2029 | US$ 1517.3 million |
| CAGR | 3.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | DSM, CSPC Pharma, Northeast Pharma, Shandong Luwei, Shandong Tianli, Anhui Tiger, Ningxia Qiyuan, Zhengzhou Tuoyang, Henan Huaxing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
