Vitamin C Market By Grade (Food Grade, Pharmaceutical Grade), Form (Powder, Liquid), Application (Food and Beverage, Dietary Supplements), & Region for 2024-2031

Vitamin C Market Valuation – 2024-2031

Growing awareness about the health benefits of Vitamin C, including its role in boosting immunity and combating oxidative stress is propelling the adoption of Vitamin C. Rising incidence of chronic diseases like cardiovascular diseases and cancer is driving the market size surpass USD 3.18 Billion valued in 2024 to reach a valuation of around USD 21 Billion by 2031.

In addition to this, increased use in skincare products due to its antioxidant properties and ability to improve skin texture and brightness is spurring up the adoption of Vitamin C. The rising trend of functional foods that offer additional health benefits beyond basic nutrition includes the incorporation of Vitamin C in various food and beverage products is enabling the market grow at a CAGR of 29.34% from 2024 to 2031.

Vitamin C MarketDefinition/ Overview

Vitamin C, also known as ascorbic acid, is a water-soluble vitamin essential for various physiological functions in the human body. It acts as a potent antioxidant, neutralizing free radicals and reducing oxidative stress. Vitamin C is crucial for collagen synthesis, which is important for skin, blood vessels, and connective tissues, and it also enhances the absorption of iron from plant-based foods.

Vitamin C is widely used in dietary supplements and fortified foods due to its numerous health benefits, including boosting the immune system, supporting skin health, and aiding in wound healing. It is a common ingredient in skincare products because of its antioxidant properties and its role in reducing signs of aging, such as wrinkles and uneven skin tone. Additionally, Vitamin C is incorporated into various functional foods and beverages designed to support overall wellness.

How will Rising Demand for Natural Food Preservatives Increase Adoption of Vitamin C?

Rising demand for natural food preservatives has expanded Vitamin C’s application in the food industry. The European Food Safety Authority approved higher levels of Vitamin C as a food additive in March 2023, leading to a 20% increase in its use in processed foods by 2024. Cargill, a major supplier, announced in January 2024 a USD 50 Million investment to expand its Vitamin C production capacity, citing growing demand from food manufacturers seeking clean label solutions.

Increasing health awareness and immunity concerns have driven significant growth in the Vitamin C market. According to the U.S. National Health and Nutrition Examination Survey, the percentage of adults using Vitamin C supplements increased from 35% in 2018 to 42% in 2023. In February 2024, DSM, a key player in the market, launched a new form of liposomal Vitamin C, claiming 30% higher bioavailability compared to traditional supplements.

The cosmetics industry’s growing use of Vitamin C in skincare products has boosted market demand. The U.S. Food and Drug Administration reported a 25% increase in Vitamin C-containing cosmetic product registrations between 2020 and 2023. In December 2023, L’Oréal introduced a new line of Vitamin C-infused serums, targeting the anti-aging market segment and reporting a 15% increase in sales within the first quarter of 2024.

Will Supply Chain Disruptions of Vitamin C Restrain Its Application?

Supply chain disruptions have significantly impacted the Vitamin C market. The U.S. Department of Commerce reported that global shipping costs increased by 300% between 2020 and 2023, affecting raw material availability and pricing. In March 2024, BASF, a major Vitamin C producer, announced temporary production cuts due to supply chain issues, leading to a 15% price increase in their Vitamin C products.

Increasing competition from synthetic alternatives has posed a challenge to natural Vitamin C producers. The European Medicines Agency approved a new synthetic Vitamin C analog in December 2023, citing comparable efficacy and potentially lower production costs. Consequently, share prices of leading natural Vitamin C manufacturers dropped by an average of 8% in the first quarter of 2024, according to Bloomberg financial data.

Regulatory hurdles and varying global standards have restrained market growth in certain regions. The FDA reported a 30% increase in Vitamin C supplement import rejections between 2022 and 2023 due to labeling and purity concerns. In response, industry leader DSM announced in February 2024 a new global compliance initiative, investing $20 million to harmonize its Vitamin C production standards across all facilities to meet diverse regulatory requirements.

Category-Wise Acumens

Will Rise in Adoption of Powdered Vitamin C Drive Vitamin C Market?

Powdered Vitamin C is dominating the Vitamin C market. This dominance is  mainly due to its versatility and ease of use. According to the U.S. National Institutes of Health, powdered Vitamin C accounted for 65% of all Vitamin C supplement sales in 2023, up from 55% in 2020. In January 2024, GNC, a leading health and wellness retailer, reported a 25% year-over-year increase in powdered Vitamin C product sales, attributing the growth to consumer preference for customizable dosing options.

The food and beverage industry has significantly contributed to the dominance of powdered Vitamin C. The U.S. Food and Drug Administration reported a 40% increase in food products fortified with powdered Vitamin C between 2021 and 2023. Nestlé, a major player in the fortified food market, announced in March 2024 the launch of a new line of powdered Vitamin C-enhanced beverages, projecting a 20% market share in the functional drink category within the first year.

Powdered Vitamin C’s superior stability and longer shelf life have made it a preferred choice for manufacturers and consumers alike. A study published by the Journal of Agricultural and Food Chemistry in December 2023 found that powdered Vitamin C retained 95% of its potency after 18 months, compared to 70% for liquid forms. Responding to this trend, DSM, a key Vitamin C supplier, invested $30 million in expanding its powdered Vitamin C production capacity in February 2024, aiming to meet the growing global demand.

Which Factors Enhance the Use of Vitamin C in Cosmetics and Personal Care Sector?

The cosmetics and personal care sector has become a dominant driver in the Vitamin C market, fueled by growing consumer demand for anti-aging and skin-brightening products. According to the U.S. Food and Drug Administration, the number of Vitamin C-containing cosmetic product registrations increased by 45% between 2021 and 2023. In February 2024, L’Oréal reported a 30% year-over-year growth in their Vitamin C skincare line, attributing the success to increased consumer awareness of Vitamin C’s skin benefits.

Vitamin C’s antioxidant properties have made it a key ingredient in sun protection and anti-pollution skincare products. The Environmental Protection Agency’s 2023 report on urban air quality correlated with a 35% increase in sales of Vitamin C-infused protective skincare products in major U.S. cities. Responding to this trend, Estée Lauder launched a new Vitamin C-based environmental defense serum in January 2024, projecting it to become their top-selling product within six months.

The rise of clean beauty and natural skincare has further boosted Vitamin C’s prominence in cosmetics. The Natural Products Association reported that Vitamin C was the most sought-after natural ingredient in skincare formulations in 2023, present in 72% of new product launches. In March 2024, Sephora announced the expansion of its Vitamin C product range, adding 50 new SKUs from various brands, expecting a 25% growth in the category by the end of the year.

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Country/Region-wise Acumens

Will Consumer Awareness and Health-Conscious Lifestyles in North America Drive Vitamin C Market?

North America has emerged as the dominant region in the Vitamin C market, driven by high consumer awareness and health-conscious lifestyles. The U.S. Centers for Disease Control and Prevention reported that 58% of American adults used Vitamin C supplements regularly in 2023, up from 49% in 2020. In January 2024, Nature’s Bounty, a leading supplement manufacturer, announced a 35% increase in Vitamin C product sales across North America, attributing the growth to increased immunity concerns post-pandemic.

The region’s robust pharmaceutical and nutraceutical industries have significantly contributed to market dominance. According to the U.S. Food and Drug Administration, Vitamin C was the most frequently added nutrient in fortified foods and beverages in 2023, with a 28% increase in product applications from 2021. Responding to this trend, Pfizer Consumer Healthcare launched a new line of Vitamin C-fortified multivitamins in February 2024, projecting a 20% market share within the first year of release.

North America’s advanced retail infrastructure and e-commerce penetration have facilitated widespread Vitamin C product availability. The U.S. Department of Commerce reported that online sales of Vitamin C supplements grew by 65% between 2021 and 2023. In March 2024, Amazon announced the expansion of its private label Vitamin C product range, aiming to capture 15% of the North American online Vitamin C market by 2025. .

Will Rising Disposable Incomes Enhance Adoption of Vitamin C in Asia Pacific?

The Asia Pacific vitamin C market is experiencing rapid growth in recent years owing to increasing health awareness and rising disposable incomes. According to the World Health Organization (WHO), as of 2023, the prevalence of vitamin C deficiency in Southeast Asia has decreased by 15% over the past decade, indicating a growing emphasis on nutritional supplementation. In April 2024, DSM, a global leader in nutrition, announced a 25% expansion of its vitamin C production capacity in China to meet the surging regional demand.

The COVID-19 pandemic has significantly boosted vitamin C consumption in the Asia Pacific region. The Indian Ministry of AYUSH reported a 200% increase in demand for vitamin C supplements during 2020-2021. This trend has continued, with the market sustaining a compound annual growth rate (CAGR) of 7.5% from 2021 to 2024. In March 2024, Amway, a major player in the nutritional supplements market, launched a new line of vitamin C products specifically tailored for the Asian market, featuring locally sourced ingredients.

Government initiatives promoting health and wellness have further fueled the vitamin C market growth in Asia Pacific. The Japanese Ministry of Health, Labour and Welfare reported that 68% of adults consumed vitamin supplements regularly in 2023, up from 52% in 2018. This increase is partly attributed to government-led health education programs. In February 2024, CSPC Pharmaceutical Group, a leading Chinese vitamin C manufacturer, announced a partnership with the Chinese government to distribute vitamin C supplements to underserved rural areas, aiming to improve overall public health.

Competitive Landscape

The vitamin C market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the vitamin C market include

• DSM Nutritional Products
• BASF SE
• Lonza Group
• Hawkins Watts Limited
• Nutraceutical Corporation
• Kemin Industries, Inc.
• Zhejiang Medicine Co., Ltd.
• Shandong Luyuan Bio-Tech Co., Ltd.
• North Star Lipids, LLC
• Amway Corporation
• Herbalife Nutrition Ltd.
• Nature’s Way Products, LLC
• Alfa Aesar
• Ginkgo BioWorks
• Vitae Pharmaceuticals
• NutraScience Labs
• BASF Personal Care & Nutrition GmbH
• Cargill, Inc.
• FMC Corporation
• Mitsubishi Gas Chemical Company, Inc.

Latest Developments

• In June 2023, DSM announced the launch of a new, highly bioavailable form of Vitamin C designed to enhance absorption and effectiveness in dietary supplements. This new formulation aims to offer improved health benefits and support for immune function.
• In January 2024, Lonza announced a strategic partnership with a major wellness brand to co-develop a new Vitamin C supplement specifically formulated for enhanced skin health and anti-aging benefits. This collaboration aims to meet the rising consumer demand for targeted skincare solutions.

Report Scope

Vitamin C Market, By Category

Grade

• Food Grade
• Pharmaceutical Grade

Form

• Powder
• Liquid

Application

• Food and Beverage
• Dietary Supplements
• Pharmaceuticals
• Cosmetics and Personal Care

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Analyst’s Take

The Vitamin C Market continues to exhibit robust growth driven by increasing consumer awareness of the health benefits associated with vitamin C consumption. Factors such as rising health consciousness, growing demand for dietary supplements, and expanding applications in the pharmaceutical and cosmetic industries contribute to the market’s expansion. As consumers prioritize preventive healthcare and seek natural remedies to support immune function and overall well-being, the demand for vitamin C products is expected to escalate further. Moreover, technological advancements in product formulations and packaging, coupled with strategic marketing initiatives by industry players, are anticipated to fuel market growth in the coming years.

Research Methodology of Market Research

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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