Global Vitamin C Market – Overview
The health and wellness sector has gained due prominence in the recent years due to emphasis on health and well-being by individuals. Vitamin C tablets and supplements are a huge part of this segment. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Vitamin C Market Research Report- Forecast to 2022’ that the segment will develop at an unparalleled rate in terms of the revenue achieved and the market will continue its growth pace with a robust CAGR rate.
Vitamin C has found applications in various sectors such as cosmetics, pharmaceutical sector and processed food industries to name a few. Addition of vitamin C is often promoted as a value added feature in products in which it is part of the ingredients and this has indirectly further fuelled the growth of the market. As food diets these days are not enriched with sufficient nutrients and vitamins, this has further propelled the demand and growth of this market. Lifestyle diseases have further prompted the growth of the segment for Vitamin C as it is used to treat a host of diseases such as immune system deficiencies, prenatal health issues, skin conditions etc. Vitamin C has also found applications in the treatment of cancers and to negate the effects of chemotherapy. Pharmaceutical sector is one the major users of Vitamin C as it is incorporated in various medicines either wholly or as an ingredient in the total composition.
Various applications for Vitamin C are also prominent in the cosmetics sector as they are used in products like skin creams, lip care products and hair care products. The presence of Vitamin C in these products can reduce skin wrinkling, darkening and provide protection from UV exposure along with nourishment as per the basis of application. Rise in life expectancy and the rapidly expanding demographic of the geriatric population has further rendered the global Vitamin C market as a profitable segment. Increase in the level of animal farming and incorporation of vitamin C in animal feed have provided new avenues for growth of this market. The growth of this market may be deferred by increasing preference of individuals to consume natural sources of Vitamin C instead of pills and volatile raw material costs.
The Key Players Profiled in Vitamin C market are as Amway (U.S.), Abbott Laboratories (U.S.), Abbott Laboratories (U.S.), GlaxoSmithKline plc. (U.K.), Nutraceutics Inc., (U.S.), Danisco, (U.K.) and Bayer AG (Germany)
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- Secondary data reveals that the Vitamin C exports is projected to grow more than 4% annually post the year 2022
- The top 5 exporters of Vitamin C are China, U.S., Germany, France, and Netherlands
Latest Industry Updates
Sep 2017 The Nature’s Bounty Co., a global manufacturer, marketer and distributor of health and wellness products, today announced the closing of the transaction with global investment firm, KKR, which is now the majority owner of Nature’s Bounty. The acquisition provides tremendous opportunities to grow Nature’s Bounty’s footprint in this rapidly expanding global wellness industry.
June 2017 Prinova recently announced it has reached an agreement to acquire Israeli-based Lycored’s China and United Kingdom Premix operations. Prinova holds strategic stocks in numerous distribution centers around the world to ensure continuity of supply and is the leading global supplier of Vitamin C, B and food grade Amino Acids. The addition of these premix capabilities gives Prinova the ability to extend these offerings on a global basis, customized to the needs of the regional markets. It also gives Prinova a global footprint with six manufacturing sites around the world located on three different continents.
July 2017 Jamieson Wellness is banking on an aging population and rising disposable incomes to help accelerate a five-year expansion plan. The Toronto-based maker of vitamins, minerals and other supplements has capitalized on consumer appetite to live healthy. It is focusing on growing its presence internationally, particularly in markets such as Asia, Eastern Europe and the Middle East.
Aug 2017 Ritual Vitamins has raised $10.5 million in Series A venture funding to attract talent, scale the business and build in-house technology for customer experience and support.
Global Vitamin C Market – Competitive Analysis
With the entry of industry players in the vitamin C segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
Global Vitamin C Market – Segments
The global market for vitamin C has been categorized into form, delivery format, application and region.
On The Basis Of Form: Sodium Ascorbate, Calcium Ascorbate, Potassium Ascorbate, Magnesium Ascorbate, D-Isoascorbic Acid and Others
On The Basis Of Delivery Format: Capsules, Chewables, Powders, Tablets, Liquids, Gels and Soft Gels and Others
On The Basis Of Application: Anti-Aging, Acne Treatment, Dehydration Treatment, Daily Care, Common Cold, Functional Food & Beverages, Cosmetics and Others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Global Vitamin C Market – Regional Analysis
The global Vitamin C products market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Secondary data reveals that the Vitamin C exports is projected to grow more than 4% annually post the year 2022.The top 5 exporters of Vitamin C are China, U.S., Germany, France, and Netherlands.
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