Vitamin C Market To Reach $2.61 Billion By 2030 | CAGR: 4.3%

Vitamin C Market Growth & Trends

The global vitamin C market size is estimated to reach USD 2.61 billion by 2030, registering a CAGR of 4.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to increasing consciousness among people regarding health benefits offered by products infused with vitamin C. The extensive use of the product in various large industries such as cosmetics, pharmaceuticals, and agriculture has contributed to growth in its consumption around the globe.

In the skincare industry, ascorbic acid is commonly used in topical vitamin C products. Consumer preferences in this industry are influenced by factors such as product effectiveness, stability, and formulation. Consumers prefer skincare products with stable ascorbic acid derivatives that can effectively deliver the desired benefits such as antioxidant properties and skin-brightening effects. Key manufacturers are investing in research & development activities to cater to the rising product demand in personal care and cosmetics products.

Ascorbic acid is often associated with health and wellness benefits such as immune system support and overall well-being. For instance, in June 2022, Procter & Gamble launched the Voost vitamin C booster brand. Consumer preferences in this industry may be driven by a desire to maintain optimal health and address specific health concerns. Businesses in this industry can cater to consumer preferences by highlighting the health benefits of ascorbic acid and offering products that meet specific consumer needs.

According to William Reed Ltd., in May 2023, the fortification of food products with Vitamin C (Ascorbic Acid) and other essential nutrients has gained significant attention in recent years. This approach involves adding vitamins to various food items to enhance their nutritional content and provide additional health benefits beyond their basic composition. The incorporation of the product into fortified foods and nutraceutical products aims to address nutritional deficiencies and promote overall well-being.

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Vitamin C Market Report Highlights

• Based on grade, the regular grade segment is expected to witness a CAGR of 5.1% from 2024 to 2030 due to its crucial role applications in key industries such as food & beverages, animal feed, and pharmaceuticals

• Based on end-use, the personal care & cosmetics segment is expected to witness a CAGR of 5.0% from 2024 to 2030 attributed to usage of less acidic forms of vitamin C as manufacturing ingredients

• Europe is expected to witness a CAGR of 5.0% from 2024 to 2030 due to the presence of well-established end-user industries such as pharmaceuticals and cosmetics 

• The usage of ascorbic acid (vitamin C) is generally considered safe when taken at appropriate doses. However, there are some safety concerns associated with its usage. It can have side effects ranging from nausea, heartburn, stomach cramps, and skin flushing and can also result in forming of kidney stones

• Major cosmetics companies have started integrating vitamin C as an ingredient in their products citing its benefits for skin. For instance, In October 2022, Noble Panacea introduced a new skincare product that contains 20% pure L-ascorbic acid, a form of vitamin C. This product provides the benefits of vitamin C such as clarifying, brightening, and protecting the skin

Vitamin C Market Segmentation

Grand View Research has segmented the global vitamin C market based on the grade, end-use, distribution channel, and region:

Vitamin C Grade Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Regular

• Premium

Vitamin C End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Animal feed

• Food & Beverage

• Personal Care & Cosmetics

• Pharmaceuticals

• Other End-Uses

Vitamin C Distribution Channel Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Offline

• Online

Vitamin C Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Thailand

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Vitamin C Market

• Spectrum Chemical

• Sinofi Ingredients

• DSM Jiangshan Pharmaceutical (Jiangsu) Co., Ltd

• Fengchen Group Co., Ltd

• Fooding

• Northeast Pharmaceutical Group Co., Ltd (NEPG)

• Botanic Healthcare

• CSPC Pharmaceutical Group Limited

• Foodchem International Corporation

• Global Calcium PVT LTD

• JOSHI AGRO

• M.C. Biotec Inc.

• Pharmavit

• NAGASE & CO., LTD.

• Reckon Organics Private Ltd.

• RX MARINE INTERNATIONAL

• Shandong Luwei Pharmaceutical Co., Ltd.

• VATJAT PHARMA FOODS PRIVATE LIMITED

• VCos Cosmetics Pvt Ltd.

• Honson Pharmatech Group.

• Anhui BBCA Group