USD 1.71 billion
Ascorbic Acid Market Size, Share, and Growth Analysis
Ascorbic Acid Market By Product Type (Food Grade, Pharmaceutical Grade), By Form (Powder, Liquid), By Distribution Channel (Online, Offline), By Application (Food & Beverages, Pharmaceuticals), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30B2062 |
Region:
Global |
Published Date: February, 2025
Pages:
199
|Tables:
111
|Figures:
76
Format -
Ascorbic Acid Market Insights
Ascorbic Acid Market size was valued at USD 1.71 billion in 2023 and is poised to grow from USD 1.8 billion in 2024 to USD 2.7 billion by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).
The global ascorbic acid industry is expected to witness growth during the forecast period owing to increasing demand from end-use industries including food & beverage, pharmaceuticals, chemicals, personal care, and cosmetics. In addition, growing demand for potassium, calcium, and sodium salts of ascorbic acid or vitamin C as an antioxidant food additive is expected to drive the market over the upcoming years.
Increase in demand for functional food & beverages is a key driver for the ascorbic acid market across the globe. Moreover, innovative technologies, the introduction of production techniques, and a heavy inflow of investments in R&D activities are the other factors that are expected to contribute to growth of the ascorbic acid market. There is an upcoming global ascorbic acid market trend of using natural flavor essence such as ascorbic acid, owing to a rise in health awareness. Innovation in ascorbic acid production and the growth in their demand across emerging economies are expected to open new opportunities for the ascorbic acid market players during the forecast period.
However, uncertain raw material supply and resulting price fluctuations are anticipated to hamper the market growth. Furthermore, wide acceptance of ascorbic acid in the food and feed industry as a preservative is expected to act as a market restraint during the forecast period. R&D by major industry participants along with technological developments in medical industry is poised to create growth avenues for the ascorbic acid market. Significant growth in dietetic & diabetic population coupled with improving living standards and rising health awareness are anticipated to create additional market opportunities during the forecast period.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Offline Channel
Fastest Growth
Online Channel
Growth Rate
5.2% CAGR
Global Ascorbic Acid Market ($ Bn)
Country Share for North America Region (%)
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Ascorbic Acid Market Segments Analysis
Global Ascorbic Acid Market is segmented by Product Type, Form, Distribution Channel, Application and region. Based on Product Type, the market is segmented into Food Grade, Pharmaceutical Grade and Industrial Grade. Based on Form, the market is segmented into Powder, Liquid and Others. Based on Distribution Channel, the market is segmented into Online and Offline. Based on Application, the market is segmented into Food & Beverages, Pharmaceuticals, Cosmetics, Animal Feed and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by End-Use
As per global ascorbic acid market outlook, the pharmaceuticals segment dominated the market and accounted for the largest revenue share of 61.83% in 2024. This is attributed to its rising applications as an ingredient in tablets or capsules used to prevent or treat low levels of vitamin C, which can result in scurvy, causing symptoms such as joint pain, weakness, tiredness, rashes, or tooth loss. It is also used as an antioxidant, helping the body to heal wounds, enhance the absorption of iron content from plant foods, and support the immune system. The increasing prevalence of chronic diseases, coupled with rising health awareness post-pandemic, has significantly driven the demand for vitamin C supplements and medications.
As per global ascorbic acid market forecast, the personal care and cosmetics segment is the fastest growing due to its beneficial properties in skincare. Ascorbic acid, or vitamin C, is well-known for its antioxidant effects, which help neutralize free radicals that accelerate aging, making it a key ingredient in anti-aging products. Additionally, it promotes collagen production, brightens the skin, and reduces hyperpigmentation, making it highly effective in improving skin tone and addressing issues like dark spots. As consumers become more aware of the benefits of natural ingredients, there is a growing preference for products that contain ascorbic acid due to its proven effectiveness in promoting healthier, more youthful-looking skin.
Analysis by Distribution Channel
The offline channel segment dominated the market and accounted for the largest revenue share of 83.66% in 2024. This is attributed to the offline distribution of ascorbic acid comprises a network of manufacturers that produce this acid in powder or liquid forms, as well as its subsequent suppliers acting as intermediaries between manufacturers and end-use industries. Ascorbic acid is primarily supplied in the form of water-soluble white crystalline powder by manufacturers. Offline channels, including supermarkets, pharmacies, specialty stores, and wholesale distributors, have long-standing networks that cater to both individual consumers and businesses. Their widespread reach allows for easy access to ascorbic acid products, such as vitamin supplements, pharmaceuticals, and personal care items.
The online channel is the fastest growing segment due to the increasing digitalization of businesses and surging international trade activities. The expansion of global e-commerce platforms like Amazon and Alibaba has significantly contributed to the development of the global ascorbic acid market. The convenience and variety offered by online distribution channels in terms of manufacturers, suppliers, quality, and quantity of ascorbic acid have led consumers to increasingly prefer them over traditional or brick-and-mortar modes of purchase. E-commerce platforms provide customers with the convenience of purchasing ascorbic acid products, such as supplements, pharmaceuticals, and cosmetics, from the comfort of their homes. This ease of access, coupled with 24/7 availability, has significantly boosted online sales.
Global Ascorbic Acid Market By Distribution Channel (%)
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Ascorbic Acid Market Regional Insights
North America dominated the market due to increasing demand from the pharmaceutical and cosmetic industry. Rising demand for low calorie sweeteners; especially in the U.S. are expected to propel the market growth in the upcoming years. Ascorbic acid is a potent antioxidant and finds use in anti-aging creams and a wide variety of medical applications for patients’ sufferings from scurvy. Moreover, niche applications of ascorbic acid include a preservative, reductant in photographic developer solutions and diets. Ascorbic acid is widely used for its health benefits, including its role as a potent antioxidant in treating scurvy, boosting immunity, and supporting recovery for patients with chronic diseases like cancer and heart conditions.
Asia Pacific region is expected to grow at a rapid pace owing to rising consumer demand. In addition, growing demand for health and dietary supplements in the region are also expected to fuel the market growth during the forecast period. The consumption of ascorbic acid in Asian countries, primarily in India, China, and Japan, is expected to grow rapidly due to the cost-effective manufacturing facilities in these countries. This factor has paved the way for manufacturers to penetrate the functional food and beverage sector with innovative bioactive ingredients, including ascorbic acid. The growing demand for health and dietary supplements in the region is also expected to fuel the market's growth during the forecast period.
Global Ascorbic Acid Market By Geography
- Largest
- Fastest
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Ascorbic Acid Market Dynamics
Ascorbic Acid Market Drivers
Rising Applications in Food and Beverage Industry
- Ascorbic acid’s role as an antioxidant and preservative has propelled its integration into the food and beverage industry, directly correlating with increased market growth. The escalating consumer demand for longer lasting and healthier food options has led manufacturers to incorporate ascorbic acid into a variety of products to maintain freshness, extend shelf life, and ensure nutritional quality.
Expanding Applications in Cosmetics and Personal Care Industry
- In the cosmetics and personal care industry, ascorbic acid is increasingly prized for its antioxidant properties and its role in promoting collagen production, essential for skin health. The rising popularity of vitamin C-enriched skincare products has stimulated significant market growth in high-quality ascorbic acid. This demand is expected to persist as consumers continue to seek effective skincare solutions, demonstrating how ascorbic acid’s application in cosmetics not only meets current market needs.
Ascorbic Acid Market Restraints
Price Volatility of Raw Materials
- The production of ascorbic acid heavily relies on raw materials such as sorbitol, derived from agricultural products like corn or wheat. Fluctuations in crop yields due to weather conditions, natural disasters, or geopolitical tensions can lead to significant price volatility in these raw materials. This instability directly impacts the production costs of ascorbic acid, potentially squeezing profit margins for manufacturers or leading to price increases for end-users.
Stringent Regulatory Requirements
- The ascorbic acid market is subject to strict regulations, particularly in the food and pharmaceutical industries. Compliance with these regulations can be costly and time-consuming for manufacturers. For instance, the U.S. Food and Drug Administration (FDA) has specific guidelines for the use of ascorbic acid as a food additive and in dietary supplements. Companies must invest significant resources to ensure their products meet these standards, which can include extensive testing and documentation.
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Ascorbic Acid Market Competitive Landscape
The global ascorbic acid industry is highly competitive, with several key players striving to maintain their market position through product innovation, strategic partnerships, and capacity expansion. Prominent companies such as DSM (Koninklijke DSM N.V.), BASF SE, Northeast Pharmaceutical Group Co., Ltd., and CSPC Pharmaceutical Group Limited dominate the market. These companies leverage their advanced manufacturing capabilities, global distribution networks, and strong research and development efforts to cater to diverse industrial applications, including pharmaceuticals, food and beverages, and cosmetics.
Top Player’s Company Profiles
- BASF SE (Germany)
- Northeast Pharmaceutical Group Co., Ltd. (China)
- Shandong Luwei Pharmaceutical Co., Ltd. (China)
- North China Pharmaceutical Co., Ltd. (China)
- Aland Nutraceutical Co., Ltd. (China)
- GlaxoSmithKline plc (UK)
- Merck KGaA (Germany)
- Bayer AG (Germany)
- DuPont de Nemours, Inc. (USA)
- Jiangsu Jiangshan Pharmaceutical Co., Ltd. (China)
- Anhui Tiger Biotech Co., Ltd. (China)
- Hebei Welcome Pharmaceutical Co., Ltd. (China)
- Shandong Tianli Pharmaceutical Co., Ltd. (China)
- Foodchem International Corporation (China)
- Chemizo Enterprise (India)
- Muby Chemicals (India)
- Dishman Group (India)
- Lonza Group (Switzerland)
Recent Developments
- In December 2022, Merck KGaA and Mersana Therapeutics announced a partnership to create novel immunostimulatory antibody-drug conjugates. This collaboration strengthens the internal expertise and internal ADC strategy of Merck KGaA, Darmstadt, Germany.
- In October 2022, Noble Panacea, a cutting-edge skincare technology provider headquartered in the USA, introduced a vitamin C product that provides 20% pure L-ascorbic acid. It targets vital signs of aging- right from wrinkles and lines to the loss of elasticity and hyperpigmentation.
- In August 2022, NEOSTRATA, a manufacturer of unique skincare products to cure various types of skin discoloration based in the USA, introduced its new 15% Vitamin C + PHA Serum. It targets dark spots and uneven skin tone. The new multi-action formula combines exfoliating polyhydroxy acid and clinically proven antioxidants to help protect against external environmental aggressors, as well as diminish visible skin discoloration.
Ascorbic Acid Key Market Trends
- Increasing Health Consciousness Drives Market Growth: The surge in health consciousness among consumers is significantly boosting the market for ascorbic acid, particularly within the dietary supplements sector. Increasing awareness of personal health and well-being has heightened the demand for supplements that contribute to immune system strength and general health. The impact is reflected in rising sales figures for key players in the industry, such as Nature’s Bounty and Swanson Health Products, who have reported robust growth in their ascorbic acid supplement offerings.
- Increasing Demand from Fortified/Functional Food and Beverage Application: With the rising number of health-conscious individuals, the demand for fortified food and beverage is also increasing. Consumers, primarily in developed and developing countries like the United States, India, China, and Germany, are increasingly reaching for nutrient-based and other products containing functional ingredients to ward off illnesses or help with existing health issues.
Ascorbic Acid Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, market growth is propelled by rising consumer awareness on health and wellness, coupled with increasing demand for fortified food and beverages. The burgeoning market is also a significant contributor, as consumers seek products that promote skin health through natural ingredients. Yet, the growth is met with limitations such as stringent regulatory landscapes concerning food additives, and challenges in sourcing raw materials can lead to price volatility. Furthermore, synthetic ascorbic acid production impacts environmental sustainability, pressing the industry towards green and sustainable methodologies. Key opportunities abound in expanding applications for ascorbic acid in personalized nutrition and in developing bio-based production processes to align with sustainability goals. Innovative research could pivot towards nanotechnology for enhanced delivery systems in pharmaceuticals or exploring novel extraction methods from alternative natural sources.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.71 billion |
| Market size value in 2032 | USD 2.7 billion |
| Growth Rate | 5.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ascorbic Acid Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ascorbic Acid Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ascorbic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ascorbic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ascorbic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ascorbic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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