Market Overview

The Global Ascorbic Acid Market was valued at USD 1,975.9 million in 2023 and is expected to reach USD 3,078.6 million by 2031 while growing at a CAGR of 5.7% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global ascorbic acid market growth. Ascorbic acid, or Vitamin C, is a vital water-soluble antioxidant essential for humans. It supports collagen synthesis, iron absorption, immune function, and the maintenance of skin, blood vessels, bones, and cartilage, requiring intake through diet or supplementation.

Increasing demand in the food and beverage industry and the prevalence of vitamin C deficiency are driving the growth of the ascorbic acid market. However, obstacles like price fluctuations of raw materials and environmental sustainability concerns may hinder market expansion.

Furthermore, the global ascorbic acid industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Application Analysis

The Global Ascorbic Acid Market is segmented among Food and Beverage, Pharmaceuticals and Healthcare, Beauty and Personal Care, and Animal Feed, based on Application. In 2023, Food and Beverage accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Ascorbic Acid Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Europe dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are BASF SE, Merck KGaA, Koninklijke DSM NV, Northeast Pharmaceutical Group Co. Ltd, Foodchem International Corporation, Honson Pharmatech Group, MC Biotec Inc., Freshine Chem, CSPC Pharmaceutical Group, and Shandong Luwei Pharmaceutical Co Ltd.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Ascorbic Acid Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Ascorbic Acid Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Ascorbic Acid Market Segmentation, By Application

• Global Ascorbic Acid Market Share Analysis, By Application

• Global Ascorbic Acid Market Growth Analysis, By Application

• Global Ascorbic Acid Market Trends, By Application

o Food and Beverage

o Pharmaceuticals and Healthcare

o Beauty and Personal Care

o Animal Feed

6. Global Ascorbic Acid Market Segmentation, By Region

• Global Ascorbic Acid Market Share Analysis, By Region

• Global Ascorbic Acid Market Growth Analysis, By Region

• Global Ascorbic Acid Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

7. Competitive Landscape

• BASF SE.*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Merck KGaA

• Koninklijke DSM NV

• Northeast Pharmaceutical Group Co. Ltd

• Foodchem International Corporation

• Honson Pharmatech Group

• MC Biotec Inc.

• Freshine Chem

• CSPC Pharmaceutical Group

• Shandong Luwei Pharmaceutical Co Ltd

 *Similar analysis will be provided for each company listed above.