Vitamin C, also known as ascorbic acid is primarily used as a
dietary supplement, even though it finds application in other purposes as well.
It has antioxidant properties which help keep tissues healthy, health wounds,
and fight infections. As per the analysis of market Research Future (MRFR), the
global vitamin C market is likely to showcase exponential growth and reach a
significant valuation by the end of the forecast period of 2018-2023.
The global vitamin C market is growing in tandem with the
growth of the vitamin supplements market. There has been an increased demand
for food fortification in recent years. Vitamin C is being added as a
functional ingredient in beverages and it is also being incorporated in food
products through new vitamin delivery systems such as nutritional bars and
gummies. The widespread incidence of vitamin deficiencies across the global has
spurred the demand for vitamin C market. Disorders such as scurvy, follicular
hyperkeratosis, swollen and inflamed gums, loosening of teeth, dryness of the
mouth and eyes, loss of hair, and others have become widespread in recent years
which has generated demand for vitamin C supplements. The3 global vitamin C
market growth is stemmed from the growing application in diverse industries
ranging from cosmetics, animal feed, to processed food industries.
The pharmaceutical industry too utilizes vitamin C extensively
owing to its multifunctional properties. They are popular in dietary
supplements and have also gained traction in sports drink and functional
beverages.
Segmentation
The global vitamin C market has been segmented based on type,
form, and application.
By type, the global vitamin C market has been segmented into
sodium ascorbate, calcium ascorbate, potassium ascorbate, magnesium ascorbate,
D-is ascorbic acid, and others. Sodium ascorbate is used as a reducing agent
and has antioxidant properties due to which the segment is leading the market.
By form, the global vitamin C market has been segmented into
tonic, tablet, and injection. The tablet segment is dominating the market.
By application, the global vitamin C market has been segmented
into pharmaceutical, cosmetics, foods & beverages, and animal feed. The
food & beverage segment is dominating the market. Vitamin C is widely used
as a food preservative which can be credited for the growth of the segment.
Regional Analysis
By region, the global vitamin C market has been segmented into
Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).
APAC is dominating the global vitamin C market. Prevalence of
vitamin deficiencies in the region, spreading consumer awareness about the
health benefits of vitamin C and the easy availability of vitamin C products
are driving the growth of the market. Animal feed industry is also a key growth
driver which is generating substantial demand for vitamin C.
North America is a significant market driven by growing use of
vitamin C in the cosmetics and food processing industry. The booming
pharmaceutical industry in the region also favors the growth of the market. In
addition, the US FDA supports the use of vitamin C which can stimulate demand
within the market.
Europe market is driven by favorable government regulations
which advocate the use of vitamin C as a food additive in the Food &
Beverage industry.
Competitive Landscape
The key players in the global vitamin C market include
Nutraceutics Inc., (U.S.), Nutraceutics Inc., (U.S.), Abbott Laboratories
(U.S.), Bayer AG (Germany), Amway (U.S.), GlaxoSmithKline plc (U.K), Danisco
(U.K), GlaxoSmithKline plc (U.K), and Abbott Laboratories (U.S.).
Complete Report Details @ https://www.marketresearchfuture.com/reports/vitamin-c-market-1938
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