USD 1191.94 million
Vitamin C Derivatives Market Size, Share, Growth Analysis, By Application(Food & Beverages, Pharmaceuticals & Nutraceuticals, Cosmetics & Personal Care, Animal Nutrition), By Product Type(Ascorbyl Palmitate, Magnesium Ascorbyl Phosphate, Sodium Ascorbyl Phosphate, Calcium Ascorbate), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2236 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
77
Vitamin C Derivatives Market Insights
Vitamin C Derivatives Market size was valued at USD 1251.30 million in 2022 and is poised to grow from USD 1313.61 million in 2023 to USD 1937.85 million by 2031 at a CAGR of 4.98%during the forecast period (2024-2031).
These derivatives are used in various industries, including cosmetics, personal care, beverages, pharmaceuticals, and nutraceuticals, among others. The purpose of the market is to provide alternative forms of Vitamin C that offer improved stability, solubility, and compatibility compared to traditional Vitamin C, thereby expanding its applications in different industries. Vitamin C derivatives are extensively utilized in cosmetic and skincare formulations for their anti-aging, skin brightening, and antioxidant properties. In the food and beverage industry, they are utilized as natural preservatives and antioxidant agents.
In the pharmaceutical and nutraceutical industries, they are used in dietary supplements for their health-promoting properties. The demand is expected to surge due to its demand from various end user industries. The projected growth in the market presents attractive opportunities for stakeholders to tap into the expanding demand for Vitamin C derivatives and cater to the evolving needs of consumers worldwide.
US Vitamin C Derivatives Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Ascorbyl Palmitate
Fastest Growth
Ascorbyl Palmitate
Growth Rate
4.98% CAGR
Global Vitamin C Derivatives Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022(%)
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Vitamin C Derivatives Market Segmental Analysis
Global Vitamin C Derivatives Market is segmented on the basis of application, product type and region. By application, the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, cosmetics & personal care, animal nutrition. By product type, the market is segmented into ascorbyl palmitate, magnesium ascorbyl phosphate, sodium ascorbyl phosphate, calcium ascorbate. By region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Vitamin C Derivatives Market Analysis by Application
This segment is projected to grow at a CAGR of 7.2% during the forecast period. the increasing demand for natural and organic skincare and cosmetic products with anti-aging and skin brightening properties. The rising awareness of beauty and wellness among consumers, along with the growing trend of clean beauty, is boosting the demand for Vitamin C derivatives in cosmetics and personal care applications.
This segment is expected to grow at a CAGR of 6.7% during the forecast period. the rising demand for functional food and beverage products with added health benefits, including antioxidant properties of Vitamin C derivatives. The increasing consumer preference for natural and clean label ingredients in food and beverages is driving the demand for Vitamin C derivatives in this segment.
Global Vitamin C Derivatives Market Analysis by Product Type
Ascorbyl Palmitate is projected to grow at a CAGR of 7.5% during the forecast period. fat-soluble form of Vitamin C is a dominant segment in the market, widely used in food and cosmetic applications due to its excellent stability and antioxidant properties. It offers enhanced shelf life and can be easily incorporated into various food and cosmetic formulations, making it a popular choice among manufacturers.
Sodium Ascorbyl Phosphate is expected to grow at a CAGR of 8.3% during the forecast period. water-soluble form of Vitamin C is a fast-growing segment in the market, extensively used in skincare and cosmetic products for its skin brightening and anti-aging properties. It is highly stable and compatible with various cosmetic formulations, making it a preferred choice for skincare and cosmetic manufacturers.
Global Vitamin C Derivatives Market Size By Product Type 2022(%)
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Vitamin C Derivatives Market Regional Insights
North America is a dominant region in the Vitamin C derivatives market, attributed to the high demand for dietary supplements, functional food and beverage products, and cosmetics and personal care products. The increasing consumer awareness of health and wellness, along with the growing trend of clean and natural products, is driving the demand for Vitamin C derivatives in North America
Asia Pacific is projected to grow at the highest CAGR of 8.5% during the forecast period. the growing population, rising disposable incomes, and changing dietary patterns in emerging economies like China and India. The increasing demand for cosmetics, personal care, and nutraceutical products in the region, along with the growing awareness of health and wellness, is fueling the demand for Vitamin C derivatives.
Global Vitamin C Derivatives Market Size By Geography, 2022-2030
- Largest
- Fastest
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Vitamin C Derivatives Market Dynamics
Global Vitamin C Derivatives Market Drivers
Increasing Demand For Natural Products To Bolster Demand For Vitamin C Derivatives
- Consumers are increasingly seeking natural and organic products, including skincare and personal care products, food and beverages, and dietary supplements. Vitamin C derivatives, being derived from Vitamin C, are considered natural and are perceived to have health benefits, which is driving their demand in various industries.
- Consumers are becoming more conscious about the ingredients used in the products they consume. Vitamin C derivatives are perceived as clean label ingredients, as they are derived from natural sources and are considered safe for use in various applications. This is driving their demand in the global market as consumers prefer products with transparent and easily recognizable ingredients.
Global Vitamin C Derivatives Market Restraints
Stringent Regulations And Quality Standards To Hinder Market Growth
- The production and use of Vitamin C derivatives are subject to regulatory requirements and quality standards, which may pose challenges for manufacturers in terms of compliance and adherence to regulations. Strict regulations related to safety, efficacy, and labeling may impact the market dynamics and pose a barrier to entry for new players.
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Vitamin C Derivatives Market Competitive Landscape
The global Vitamin C derivatives market is highly competitive, with numerous players operating in the market. Some of the key players in the market include DSM Nutritional Products, BASF SE, Merck KGaA, Kemin Industries, Inc., Koninklijke DSM N.V., Glanbia Nutritionals, Inc., and Northeast Pharmaceutical Group Co., Ltd., among others. These players are engaged in various strategies, such as product innovation, partnerships, mergers and acquisitions, and expanding their production capacities, to gain a competitive edge in the market.
Top Player’s Company Profiles in Global Vitamin C Derivatives Market
- DSM Nutritional Products (Netherlands)
- BASF SE (Germany)
- Merck KGaA (Germany)
- Kemin Industries, Inc. (United States)
- Koninklijke DSM N.V. (Netherlands)
- Glanbia Nutritionals, Inc. (Ireland)
- Northeast Pharmaceutical Group (China)
- Shandong Luwei Pharmaceutical (China)
- Zhejiang Tianxin Pharmaceutical (China)
- CSPC Pharmaceutical Group Limited (China)
- Shandong XiYa Chemical Industry (China)
- Natura-Tec (France)
- Greentech S.A. (France)
- Lonza Group AG (Switzerland)
- COFCO Biochemical (Anhui) (China)
- Oy Karlshamn Ab (Sweden)
- Shijiazhuang Donghua Jinlong Chemical (China)
- Hainan Zhongxin Chemical (China)
- Shandong Lianmeng Chemical Group (China)
- Guangzhou Tinci Materials Technology (China)
- Haihang Industry (China)
- Hunan Sunshine Bio-Tech (China)
Global Vitamin C Derivatives Market Recent Developments
- In May 2021, the Swiss pharmaceutical company, Lonza Group, announced that it had acquired the Canadian Vitamin C derivative manufacturer, Medichem S.A. The acquisition is expected to strengthen Lonza's position in the global market for Vitamin C derivatives and expand its product portfolio.
- In March 2021, the Japanese chemical company, Kuraray Co., Ltd., announced that it had developed a new method for producing Vitamin C derivatives using plant-derived raw materials. The new method is said to be more sustainable and eco-friendlier than traditional methods, which use petrochemicals.
- In February 2021, DSM Nutritional Products announced the launch of its new Vitamin C derivative, the Ascorbyl Tetraisopalmitate (ATIP) ingredient, which is specifically designed for use in skin care products. The ingredient is said to be highly stable and effective in brightening the skin, reducing dark spots, and protecting against UV damage.
Vitamin C Derivatives Key Market Trends
- The clean beauty trend, which promotes the use of natural and organic ingredients in skincare and personal care products, is driving the demand for Vitamin C derivatives in the cosmetics and personal care industry. Consumers are seeking products with clean, natural, and sustainable ingredients, and Vitamin C derivatives are increasingly being used as a key ingredient in such formulations.
Vitamin C Derivatives 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 our analyses, the global vitamin C derivatives market is a growing market that is expected to reach a significant valuation in the coming years. Market drivers include rising consumer awareness, demand for functional food and beverages, expanding applications in pharmaceutical and cosmetic industries, and adoption of skincare and personal care products. Asia Pacific is expected to witness significant growth due to demand for skincare and personal care products and increasing awareness about health benefits of vitamin C derivatives in the region. Market restraints may include stringent regulations, potential adverse effects of excessive vitamin C consumption, and availability of alternatives. Key trends include development of novel derivatives, focus on natural and organic options, and demand for liposomal and nano-encapsulated forms for enhanced delivery.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1251.30 million |
| Market size value in 2031 | USD 1937.85 million |
| Growth Rate | 4.98% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| 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 Vitamin C Derivatives 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 Vitamin C Derivatives 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 Vitamin C Derivatives 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 Vitamin C Derivatives 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 Vitamin C Derivatives Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Vitamin C Derivatives 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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