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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Vitamin C (Ascorbic Acid) market for 2018-2023.
Ascorbic acid (Vitamin C), an essential nutrient found mainly in fruits and vegetables. The body requires ascorbic acid in order to form and maintain bones, blood vessels, and skin. Ascorbic acid also promotes the healing of cuts, abrasions and wounds; helps fight infections; inhibits conversion of irritants in smog, tobacco smoke, and certain foods into cancer-causing substances; appears to lessen the risk of developing high blood pressure and heart disease; helps regulate cholesterol levels; prevents the development of scurvy; appears to lower the risk of developing cataracts; and aids in iron absorption. Ascorbic acid can cause adverse reactions when taken with some drugs.
The biggest consumer of this food additive is food and beverage industry, which counted about 60%; pharmaceutical industry count about 30% of the total demand, while feed industry counted about 7.8% in 2016.
Since 2016, the price of ascorbic acid has increased steadily for several reasons. Factories in China that produce ascorbic acid are seriously considering price increases. From the beginning of 2016, prices of these products began to increase, followed by many other ingredients; starting in Q4, prices began to increase substantially. Ascorbic acid factories are underfunded due to the low price in recent years, resulting in a strong desire to raise prices.
Over the next five years, LPI(LP Information) projects that Vitamin C (Ascorbic Acid) will register a 4.8% CAGR in terms of revenue, reach US$ 1520 million by 2023, from US$ 1140 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Vitamin C (Ascorbic Acid) market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Food Grade
- Pharmaceutical Grade
- Feed Grade
Segmentation by application:
- Food & Beverage
- Pharmaceuticals & Healthcare
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- CSPC Pharma
- Shandong Luwei
- Northeast Pharma
- North China Pharma
- Shandong Tianli
- Ningxia Qiyuan
- Zhengzhou Tuoyang
- Henan Huaxing
- Anhui Tiger
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Vitamin C (Ascorbic Acid) consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Vitamin C (Ascorbic Acid) market by identifying its various subsegments.
- Focuses on the key global Vitamin C (Ascorbic Acid) manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Vitamin C (Ascorbic Acid) with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Vitamin C (Ascorbic Acid) submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.