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The Ascorbic Acid Market is segmented by Application (Food and Beverage, Pharmaceuticals and Healthcare, Beauty and Personal Care, and Animal Feed) and Geography.
Fastest Growing Market:
The ascorbic acid market is projected to register a CAGR of 5.1% during the forecast period (2020-2025).
The ascorbic acid market is segmented by application into food and beverage, pharmaceuticals and healthcare, beauty and personal care, and animal feed. The study also involves the global analysis of regions, such as North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.
|Food and Beverage|
|Pharmaceuticals and Healthcare|
|Beauty and Personal Care|
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Consumers primarily in countries, like the United States, India, China, and Germany, among others, are increasingly reaching for dairy-based and other products containing functional ingredients to ward off illnesses or help with existing health issues. This, in turn, has paved the way for manufacturers to penetrate the functional food and beverage sector with innovative bioactive ingredients, including ascorbic acid. Also, various government initiatives are being taken to increase the consumption of fortified food and beverages, especially in developing countries, like China and India. For instance, the promotion of fortified foods by China’s Ministry of Health, coupled with growing health concerns related to age, myopia in adults, and other diseases, is expected to drive the market studied.
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The consumption of ascorbic acid in Asian countries, primarily in India, China, Japan, and others, is expected to grow at a faster pace, owing to the cost-effective manufacturing facilities in these countries. The growing demand for health and dietary supplements in the region is also expected to fuel the market growth over the forecast period. Also, deficiencies of significant micronutrients like iodine, vitamins A and C, iron, folate, and zinc are prevalent in Asian countries, which makes it a lucrative market for vitamin C manufacturers and suppliers across the world.
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The ascorbic acid market is a highly fragmented market with an increasing number of local regional players across the world. The companies are utilizing their products and technological skills in the development of marketing and business strategies across the vitamin and mineral supplements segment, driving innovations, stimulating new product development, and business planning and branding across social media platforms.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Food and Beverage
5.1.2 Pharmaceuticals and Healthcare
5.1.3 Beauty and Personal Care
5.1.4 Animal Feed
5.2.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.2.4 South America
184.108.40.206 Rest of South America
5.2.5 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 United Arab Emirates
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Merck KGaA
6.3.2 Koninklijke DSM NV
6.3.3 Northeast Pharmaceutical Group
6.3.4 Shandong Luwei Pharmaceutical
6.3.5 Foodchem International Corporation
6.3.6 Honson Pharmatech Group
6.3.7 MC Biotec Inc.
6.3.8 Freshine Chem
7. MARKET OPPORTUNITIES AND FUTURE TRENDS