Global Ascorbic Acid Market is Expected To Grow USD 1083.8 Million by 2021
Ascorbic acid is extensively available in nature, mostly rich in leafy vegetables and fresh fruits such as cabbage, mustard leaves, guava, mango, papaya, and spinach. Animal sources of this vitamin such as poultry, meat, fish, eggs and dairy products contain minor amounts and are not major sources. Ascorbic acid a water-soluble micronutrient is necessary for normal growth and development. Ascorbic Acuidis an antioxidant that helps maintain the connective tissue protein collagen and protects against infection. Ascorbic acid generally occurs in white solid form.
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The report provides a comprehensive view on the ascorbic acid market. The report explains the detailed value chain analysis for ascorbic acid market. The study covers a market attractiveness analysis, wherein end-user segments are benchmarked based on their general attractiveness growth rate and market size. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the ascorbic acid market has also been included. The report also analyzes various restrains and drivers, and the impact they have on market during the forecast period.
Increase in the number of diabetic patients and other health related issues are increasing globally. The increase in health issues is expected to offer growth opportunities for ascorbic acid in pharmaceutical industry. As a result of increasing demand from calcium (Ca), potassium (K) and sodium (Na) salts of ascorbic acid. Availability and prices of raw material can severely affect ascorbic acid market. Thus, it can curb the growth ascorbic acid market during the forecast period. Nonetheless, technological advancements in pharmaceutical industry is likely to accelerate the growth of market in the forecast period.
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Based on end-user industry global ascorbic acid market is segmented into pharmaceuticals, food & beverages, personal care and others. Pharmaceutical industry was the largest consumer of ascorbic acid in 2015, it accounted for more than 30% of global ascorbic acid market. Food & beverages was another major end-user industry contributing to the growth of global ascorbic acid market. Food & beverages industry is expected to grow at a fastest growth rate in coming years.
Asia Pacific was the largest regional market for the ascorbic acid in 2015. It accounted for more than 33% share of global ascorbic acid market. Europe and North America followed Asia Pacific in terms of demand for ascorbic acid globally. The demand for ascorbic acid in this region is also expected to grow during the forecast period as a result of rising demand from food & beverages and personal care end-user industry. Asia Pacific is projected to be the fastest regional market for ascorbic acid as a result of growth of low cost manufacturing facilities in China. The ever increasing demand for food and health supplements mainly in Asia Pacific is chiefly contributing for the growth of ascorbic acid in this region. Latin America is expected to witness visible growth as demand in Brazil is expected to soar in coming years.
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Key players operating in the ascorbic acid market include Shandong Luwei Pharmaceutical, Hebei Welcome Pharmaceutical Co, North China Pharmaceutical Group, Bactolac Pharmaceutical Inc, DSM, Northeast Pharmaceutical Group, Aland Nutraceuticals Group, NBTY Inc., GlaxoSmithKline Plc., CSPC Pharmaceutical Group, DuPont, BASF SE, Dishman Group among others.
This report segments the global ascorbic acid market as follows:
Global Ascorbic Acid Market: End-user Segment Analysis
- Food & beverages
- Personal Care
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Global Ascorbic Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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