Vitamin C Ingredients Market

Vitamin C Ingredients Market: Serums and Personal Care Products Fortified with Vitamin C Witnessing Widespread Adoption by Savvy Consumers: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

Vitamin C ingredients are defined as the white soluble vitamins found mainly in fruits and vegetables. Vitamin C ingredients are typically produced synthetically utilizing corn or wheat starches mainly as raw material. Various health benefits of vitamin C including skin health, dental health and blood vessels maintenance and its increasing importance as antioxidant is supporting vitamin C ingredients market. Vitamin C ingredients are essentially the functional ingredients with ascorbic acid content used mainly in the dietary supplements and fortification of food and beverages.

Vitamin C Ingredients Market

The ascorbic acid product type segment was estimated to account for more than 50% value share in 2017, followed by sodium ascorbate which was estimated to account for about 14% value share in 2017. In terms of growth, 90% granulation ascorbic acid is expected to register a growth rate of almost 7% over the forecast period 2018 to 2028. Other vitamin C ingredients such as ascorbyl palmitate and ascorbic acid phosphate are also expected to find several applications in animal nutrition and in cosmetic and personal care products owing to their relatively higher stability.

Predominant Use as Fortificant in Food and Beverages to Pave the Way for Use in Cosmetics and Personal Care

Increase in importance of vitamin C ingredients as antioxidant and food additives have widened its applications in various food and beverage categories. Consumers have started looking for healthy foods including vitamin supplements. Growing importance of vitamin C ingredients in skincare, healing of wounds, prevention of infections, improved absorption of iron from food, reduction of the risk of chronic diseases, blood pressure control, immune health and other benefits is encouraging higher demand for vitamin C ingredients. Different sources of Vitamin C offer unique benefits. Additionally, vitamin C ingredients are required for the growth, development and repair of all body tissues. The other functions of vitamin C ingredients include body functions like the formation of collagen, and the maintenance of cartilage, bones, and teeth.

Several technological developments have been witnessed in the production of ascorbic acid or vitamin C which has offered various advantages to manufacturers. To improve effectiveness from the use of vitamin C ingredients in different end use applications, there have been several technological developments including encapsulation through various methods like spray drying, spray chilling, spray cooling, fluidized bed coating, and extrusion. These methods have supported in assuring higher stability of vitamin C ingredients and improve higher consumer acceptability towards the carrier food.

Powdered Vitamin C Ingredients to Account for Over 80% Share of the Market

Considering that the majority of vitamin C ingredients find their application as supplements or for fortification, the preference for consumers of vitamin C ingredients in the powdered form is obvious. However, unique processing technologies employed by several key manufacturers of vitamin C ingredients including Koninklijke DSM N.V., Glanbia Nutritionals etc. has resulted in the development of several forms of vitamin C ingredients that are more shelf-stable when incorporated in the final processed products. On the basis of form, crystalline and other forms of vitamin C ingredients are expected to register a robust growth of 7.4% in terms of value over the forecast period.

Two-stage Fermentation Process of Production of Vitamin C Ingredients Likely to Remain Industry Standard

Two-stage fermentation is a widely used process in the production of vitamin C ingredients, and is preferred by producers as it uses less toxic solvents as compared to the Reichstein production process. Two-stage fermentation accounts for over 95% of all vitamin C ingredients sold, and is also expected to register a growth of 5.4% in terms of revenue over the forecast period.

Report Description

This report provides forecast and analysis of the global vitamin C ingredients market. It provides historical data of 2013 along with estimated data for 2018, and forecast data up to 2028 in terms of revenue (US$ Mn) and volume (MT). The report also includes macroeconomic indicators along with an outlook on vitamin C ingredients for the global market. It includes drivers and restraints of the global vitamin C ingredients market and their impact on each region during the forecast period. The report also comprises the study of current issues with consumers and opportunities for vitamin C ingredients products. It also includes value chain analysis. In order to provide users of this report with a comprehensive view of the market, we have included detailed competitiveness analysis and market key players and strategic overview. The dashboard provides a detailed comparison of vitamin C ingredient manufacturers on parameters such as total revenue, product offerings, and key strategy. The study encompasses market attractiveness analysis by product type, form, source, process, end-use, and region.

Through a detailed study of the market, our analysts have observed that there is a tendency for end users of vitamin C ingredients to shift from synthetic to natural sources, which is likely to result in several number of new market entrants. Also, high prices of natural sources of vitamin C is deemed to cause a concern in raw material procurement. The report further states that the use of vitamin fortification in cosmetic and personal care products is likely to result in a lucrative market opportunity for producers of vitamin C ingredients targeting this segment.

The report includes vitamin C ingredients market company profiles and the revenue generated from the companies across North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). By form, the global vitamin C ingredients market is segmented as powder, granules, and others.  By source, the global vitamin C ingredients market is segmented as natural and synthetic.  By Process, the global vitamin C ingredients market is segmented as Reichstein Process and Two-stage Fermentation Process.  By end-use, the global vitamin C ingredients market is segmented as food, beverages, cosmetic and personal care products, pharmaceuticals and animal feed. 

For the calculation of revenue collection of average regional prices were obtained through primary quotes from numerous vitamin C ingredients manufacturers, exporters, and distributors. All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Country demand patterns have been considered while estimating the market for various end users of vitamin C ingredients in the different regions. Top-down approach has been used to estimate the vitamin C ingredients market by countries. Global market numbers by product type have been derived using the bottom-up approach, which is cumulative of each country’s demand. Company-level market share has been derived on the basis of vitamin C ingredients penetration. The market has been forecast based on constant currency rates.

A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, and Hoover’s, and company annual reports and publications. The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major companies operating in the global vitamin C ingredients market are Foodchem International Corporation, Koninklijke DSM N.V., CSPC Pharmaceutical Group Limited, and Glanbia Nutritionals China (Suzhou) Co., Ltd, Northeast Pharmaceutical Group Co., Ltd., North China Pharmaceutical Co., Ltd., The TNN Development Limited, Hunan Sunshine Bio-Tech Co., Ltd, Microbelcaps, Wuhan Yuancheng Gongchuang Technology Co.,Ltd, Hangzhou Focus Corporation, Beijing Heronsbill Food Material Co.,Ltd, Curechem Group, Shandong Luwei Pharmaceutical Co., Ltd., Triveni Interchem Pvt. Ltd., Manav Drugs, Akhil Healthcare Private Limited, China BBCA Group Corporation, AB Mauri Lanka and Merck.

Global Vitamin C Ingredients Market – By Product Type

  • Ascorbic Acid
  • Sodium Ascorbate
  • Calcium Ascorbate
  • Ascorbic Acid 90% Granulation
  • Ascorbic Acid 95% Granulation
  • Ascorbic Acid 97% Granulation
  • Coated Vitamin C
  • Others

Global Vitamin C Ingredients market – By Form

  • Powder
  • Granules
  • Others

Global Vitamin C Ingredients market – By Source

  • Natural
  • Synthetic

Global Vitamin C Ingredients market – By Process

  • Reichstein Process
  • Two-stage Fermentation Process

Global Vitamin C Ingredients market – By End-Use

  • Food
  • Bakery Products
  • Meat Products
  • Jams and Jellies
  • Sports Nutrition
  • Others
  • Beverages
  • Juices
  • Drinks
  • Functional Beverages
  • Cosmetic and Personal Care Products
  • Pharmaceuticals
  • Animal Feed

Global Vitamin C Ingredients market – By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific excluding Japan (APEJ)
  • Japan
  • Middle East and Africa (MEA)