Vitamin C Market Overview:
The global vitamin C market is anticipated to grow at a remarkable CAGR during the forecast period (2023-2030), as per the new Market Research Future (MRFR) report. Vitamin C is an essential nutrient for health as it helps in forming and maintaining skin, bones, and blood vessels. It occurs naturally both in fruits as well as vegetables, but today vitamin C supplements are also available.
The Japan Vitamin C Market is characterized by its innovation and diversity, with consumers seeking products that offer both efficacy and convenience. Vitamin C is a vital nutrient that supports immune health, collagen synthesis, and antioxidant defense, making it a popular choice among Japanese consumers looking to maintain their overall well-being. The Japanese market offers a wide range of Vitamin C products, including supplements, fortified foods, and beverages, catering to different dietary needs and preferences. From traditional tablets and capsules to effervescent powders and beauty supplements, there is a plethora of options available to consumers seeking to boost their Vitamin C intake. Moreover, with an increasing emphasis on preventive healthcare and the importance of immune support, demand for Vitamin C products has surged in Japan, driving market growth and innovation. Manufacturers are responding to consumer preferences by introducing new formulations, flavors, and packaging designs to capture market share and remain competitive. Additionally, the rise of e-commerce platforms and health-focused retail channels has made it easier than ever for Japanese consumers to access Vitamin C products, further contributing to market growth. As awareness of the benefits of Vitamin C continues to expand, the market in Japan is expected to witness sustained growth and development, with opportunities for further market penetration and product innovation.
Vitamin C Market Size was prized at USD 10.9 billion in 2022. The vitamin C market industry is projected to grow from USD 11.2 Billion in 2023 to USD 13.2 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 2.88% during the forecast period (2023 - 2030).
Vitamin C plays a pivotal role in various bodily functions which include the production of L-carnitine, collagen, and some neurotransmitters. It offers a long list of benefits. Vitamin C is a strong antioxidant, lowers blood pressure, boosts the immune system, increases iron absorption, maintains healthy hair and skin, helps in weight loss, and is good for mental and physical health.
Various factors are propelling the vitamin C market growth. These factors in accordance to the MRFR report, include the strong application of vitamin C in processed food industries, animal feed, pharmaceutical, and cosmetics, growing demand for dietary supplement, and increasing use as a preservative in food & beverages. Additional factors pushing market growth include increasing incidences of skin-related diseases, and growing demand for sunscreen lotions, anti-aging creams, and other forms of bio-based cosmetic products.
Market Segmentations:
The MRFR report provides a complete segmental analysis of the vitamin C market on the basis of type, form, and application.
Based on type, the vitamin C market is segmented into D-is ascorbic acid, magnesium ascorbate, potassium ascorbate, calcium ascorbate sodium ascorbate, and others. Of these, the sodium ascorbate segment will have the largest share in the market over the forecast period owing to its wide use as a reducing agent. It contains antioxidant properties.
Based on form, the vitamin C market is segmented into injection, tablet, and tonic. Of these, the tablet segment will dominate the market over the forecast period.
Based on application, the vitamin C market is segmented into animal feed, food and beverages, cosmetics, and pharmaceutical. Of these, the food and beverage segment will lead the market over the forecast period. This is owing to its wide use in food preservatives in the food and beverage industry.
Key Players:
The Vitamin C Market Companies report include Abbott Laboratories (US), GlaxoSmithKline plc (UK), Danisco (UK), GlaxoSmithKline plc (UK), Amway (US), Bayer AG (Germany), Abbott Laboratories (US), Nutraceutics Inc., (US), and Nutraceutics Inc., (US), among others. Key players have incorporated various strategies in order to strengthen their position in the market such as partnerships, expansions, mergers and acquisitions, product launches, research and development, and more.
Industry News:
August 2019: Perfectly Posh has come up with its first line of vanity supplements to offer men and women that ultimate pampering experience. The product line includes So Perky Energy Drink Mix, Happy Dance Mood Enhancing Hard Candy, and Very Sleepy Gumdrops. The So Perky Energy Drink Mix contains natural caffeine from green coffee along with peppermint, vitamin C and B to help skin appear revitalized and also increase energy levels.
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