Asia Pacific Vitamin C Market Size & Outlook, 2024-2030
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Asia Pacific vitamin c market highlights
- The Asia Pacific vitamin c market generated a revenue of USD 772.0 million in 2023.
- The market is expected to grow at a CAGR of 4% from 2024 to 2030.
- In terms of segment, premium was the largest revenue generating grade in 2023.
- Regular is the most lucrative grade segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 772.0 million |
| Market revenue in 2030 | USD 1,005.4 million |
| Growth rate | 4% (CAGR from 2024 to 2030) |
| Largest segment | Premium |
| Fastest growing segment | Regular |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Regular, Premium |
| Key market players worldwide | Spectrum Chemicals, DSM, NorthEast BioLab, CSPC Pharmaceutical Group Ltd, Foodchem International Corporation, Fooding, Northeast Pharmaceutical Group, Botanic Healthcare, Global Calcium, Joshi Group, MC Sciences, Pharmavite, Nagase & Co Ltd, RX Marine, Shandong Luyin Pharmaceutical Co., Honson |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 39.7% of the global vitamin c market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 725.3 million by 2030.
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Vitamin C Market Scope
Vitamin C Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Honson | View profile | 51-100 | Shajing, Hunan, China, Asia | https://www.honsoncn.com |
| Shandong Luyin Pharmaceutical Co. | View profile | - | Linyi, Shandong, China, Asia | http://www.lvyin.cn |
| RX Marine | View profile | 501-1000 | Mumbai, Maharashtra, India, Asia | http://rxmarine.com/ |
| MC Sciences | View profile | 11-50 | Meckenheim, Nordrhein-Westfalen, Germany, Europe | https://www.mcsciences.com/ |
| Joshi Group | View profile | 1001-5000 | https://joshibusiness.com/ | |
| Global Calcium | View profile | 251-500 | Bangalore, Karnataka, India, Asia | https://www.globalcalcium.com |
| Northeast Pharmaceutical Group | View profile | 5001-10000 | Shenyang, Liaoning, China, Asia | https://www.nepharm-en.com/ |
| Botanic Healthcare | View profile | 101-250 | Hyderabad, Andhra Pradesh, India, Asia | https://www.botanichealthcare.net |
| Fooding | View profile | 51-100 | Shanghai, Shanghai, China, Asia | https://www.chinafooding.com |
| Pharmavite | View profile | 1001-5000 | Northridge, California, United States, North America | http://www.pharmavite.com |
| Foodchem International Corporation | View profile | - | Shanghai, Shanghai, China, Asia | http://www.foodchemadditives.com/ |
| Spectrum Chemicals | View profile | 11-50 | Mumbai, Maharashtra, India, Asia | https://www.spectrumchemicals.net |
| Nagase & Co Ltd | View profile | 7220 | 5-1, Nihonbashi-Kobunacho, Chuo-ku, Tokyo, Japan, 103-8355 | http://www.nagase.co.jp |
| NorthEast BioLab | View profile | 11-50 | Hamden, Connecticut, United States, North America | https://www.nebiolab.com |
| CSPC Pharmaceutical Group Ltd | View profile | 23500 | No. 226 Huanghe Street, Hebei Province, Shijiazhuang, China, People's Republic of, 050035 | https://www.cspc.com.hk |
| DSM | View profile | 10001+ | Heerlen, Limburg, The Netherlands, Europe | http://www.dsm.com |
Asia Pacific vitamin c market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to vitamin c market will help companies and investors design strategic landscapes.
Premium was the largest segment with a revenue share of 79.42% in 2023. Horizon Databook has segmented the Asia Pacific vitamin c market based on regular, premium covering the revenue growth of each sub-segment from 2018 to 2030.
The reduction in production was caused due to reductions in Pakistan, China, Malaysia, and Thailand were offset by increases in Mongolia, South Korea, and Vietnam. The region also reported a slight increase in the number of feed mills, by 2.25% from 6,989 in 2021 to 6,553 in 2022, which are expected to contribute to the rising consumption of ascorbic acid in the animal feed industry.
Asia Pacific is also one of the largest pharmaceutical industries in the world, with countries such as Japan, India, and China leading the way in different fields, such as vaccine production, generic drugs, and other services. China has the second-largest pharmaceutical industry in the world after the U.S.
The advent of the COVID-19 helped the Chinese vaccine manufacturers to seize the opportunity and develop vaccines for the global market. This led to the development of vaccines such as Sinopharm and CoronaVac, which were distributed in large quantities in Asian countries such as Pakistan, Bangladesh as well as sub-Saharan Africa.
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Target buyers of Asia Pacific vitamin c market databook
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Our clientele includes a mix of vitamin c market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific vitamin c market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific vitamin c market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific vitamin c market size, by country, 2018-2030 (US$M)
Asia Pacific Vitamin C Market Outlook Share, 2023 & 2030 (US$M)
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