Vitamin C Market Size, Share, Growth Analysis, By Source(Natural and Synthetic), By Application(Food & beverages, Pharmaceuticals, Cosmetics, Animal feed), By Process(Reichstein Process, Two-stage Fermentation Process), By Product Type(Powder, tablets, capsules, gummies), By Region - Industry Forecast 2024-2031

On the basis of region, global vitamin C market is divided into North America, Europe, Asia Pacific and MEA. Asia Pacific dominated the global market with over 40% share and is expected to witness significant growth during the forecast period. This is due to increasing consumer awareness of health, fitness, and wellness and increasing spending on dietary supplements. Increased consumption of red meat and seafood products that require preservatives such as sodium benzoate or sorbates has increased the demand for vitamin C from countries such as China, Japan, South Korea, and India.

North America is expected to grow at a significant CAGR during the forecast period. Growing demand for various pharmaceutical and cosmetic products which contain vitamin C is expected to drive the market in North America. Due to an increase in disposable income, the demand for vitamin C in various forms is increasing. North America is growing rapidly due to the increasing use of vitamin C in various cosmetics in the form of moisturizers or serums. It is widely used in the treatment of cancer patients as it helps in reducing inflammation. It is a great antioxidant and is used in personal care products.

Europe accounts for a significant share of the global market. An increasing aging population, along with rising healthcare costs, drives the pharmaceutical industry, resulting in increased demand for pharmaceuticals, especially vitamin C supplements.