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Global Ascorbic acid Market Insight2021-12-31 Comments
The Ascorbic acid is forecast to crazy increase over the next four years. According to the World Knowledge Information (WKI) “Global Ascorbic acid Professional Survey Report 2021, Forecast to 2026”, Increased health problems and increased awareness of healthy products have promoted the growth of the global ascorbic acid market. Rapid urbanization, increasing purchasing power and changing lifestyles have promoted the growth of the global ascorbic acid market. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.64% base on WKI regression analysis model.
“Many developing countries are facing the problem of people’s malnutrition. It is suggested that the company can focus on expanding its business through mergers or acquisitions to increase market share.”said Jennie, Senior analyst, Chemical industry Market Research Center in WKI.
Increased health problems and increased awareness of healthy products have promoted the growth of the global ascorbic acid market. Rapid urbanization, increasing purchasing power and changing lifestyles have promoted the growth of the global ascorbic acid market.
However, rising raw material prices hindered the growth of the ascorbic acid market. The government is actively increasing the consumption of ascorbic acid in developing countries, and the popularity of the Internet has also created opportunities for the growth of the global ascorbic acid market.
The ascorbic acid market is a highly fragmented market, with more and more local regional players around the world. The two companies are using their products and technical skills to develop marketing and business strategies in the vitamin and mineral supplements sector, driving innovation, stimulating new product development, and business planning and branding across social media platforms.The main players in the ascorbic acid market are LabChem Inc., BBCA Group, BASF SE, GlaxoSmithKline plc, FreShine Chemicals Company, Aland Nutraceuticals Group, King Pharma, Shandong Luwei Pharmaceutical Co., Ltd., Bactolac Pharmaceuticals, Inc., Hebei Welcome Pharmaceutical Co., CSPC Domestic and global such as Pharmaceutical Group Limited., DuPont, DSM, Northeast Pharmaceutical Group Co., Ltd, CSPC Pharmaceutical Group Limited, Huabei Pharmaceutical Group Co., Ltd., Merck KGaA, Nature’s Bounty, GlaxoSmithKline plc., Muby Chemicals and Dishman Group Participant.
Segmentation of Ascorbic acid Market:
According to the type, the ascorbic acid market is divided into calcium ascorbate, sodium ascorbate, magnesium ascorbate, potassium ascorbate and D-isoascorbic acid.Sodium ascorbate has a good antiseptic and antioxidant effect, and is relatively stable to heat. The price is relatively cheap. Sodium ascorbate is safe and an effective food additive, which is widely used in various foods.Sodium ascorbate segment leads with the highest market share.According to the grade, the ascorbic acid market is divided into pharmaceutical grade and food grade.Due to the rapid development of the food industry, food grade has a larger share in the market.According to the application, the ascorbic acid market is segmented into food and beverages, animal feed, pharmaceuticals and healthcare, and personal care.Because ascorbic acid can be used as a substitute for sweeteners. Therefore, the food and beverage industry occupies a major share and is growing rapidly. The main application of ascorbic acid in the pharmaceutical industry is the manufacture of antioxidants. Due to the increasing health problems, the use of ascorbic acid in pharmaceuticals is also increasing.
Ascorbic acid Market: Regional Analysis
In terms of geography, the global Ascorbic acid market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa.The Asia-Pacific region dominates the ascorbic acid market and will continue to dominate during the forecast period. India and China will be the main contributors to the region because of the increasing personal disposable income of these countries, the cost-effective manufacturing facilities, and government support policies. The intensification of vitamin C deficiency in the future, coupled with the growth and expansion of the pharmaceutical industry, will further increase the supply and demand of vitamin C.
Largest share area：Asia Pacific
Largest share country：China