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). The growing cases of chronic diseases like cancer and heart disease is the key market driver enhancing the market growth. Another major driver of market expansion is the growing understanding of the significance of vitamin C for general health and well-being.
 Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The market for vitamin C is expanding as cardiovascular disorders, including heart attacks and strokes, become more common. High levels of LDL (bad) cholesterol and triglycerides in the bloodstream are two heart disease risk factors that vitamin C helps to diminish. The World Health Organization (WHO) estimates that 17.9 million people die yearly from cardiovascular illnesses, making them the top cause of mortality worldwide. Moreover, there is an increase in alcohol abuse, bad eating habits, obesity, physical inactivity, and tobacco use, all contributing to CVD and the need for medicine. Additionally, vitamin C works as an antioxidant to guard against the harm caused by free radicals, propelling the market for vitamin C to develop throughout the forecast period. Therefore, the growing prevalence of cardiovascular diseases has enhanced the vitamin C market CAGR globally in recent years.
The demand for fortified foods and drinks is rising along with the number of people becoming more health conscious. Consumers in developed and developing nations like the United States, India, China, and Germany increasingly turn to nutrient-based and other goods with functional components to prevent illnesses or treat existing health problems. Vitamin C has been added to the products by corporations in response to consumer demand for fortified food and beverages. For instance, Krating Daeng, a brand of TCH Group, partnered with DHC, the top maker of food supplements in Japan, in 2021 to meet the need for vitamin C in Thailand. Also, several government programs are being implemented to promote the consumption of fortified foods and beverages, particularly in developing nations like China and India. Thus, the growing trend of fortified foods is another factor driving the growth of the vitamin C market revenue.
The vitamin C market segmentation, based on type, includes sodium ascorbate, calcium ascorbate, potassium ascorbate, magnesium ascorbate, and others. In 2022, Sodium ascorbate dominated the market with respect to the vitamin C market revenue. Since sodium ascorbate contains a lot of antioxidants, its market share is anticipated to increase over the next several years.
Figure 1: Vitamin C Market, by Type, 2022 & 2030 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The second fastest-growing segment in the vitamin C industry is the calcium ascorbate sector. When used as a preservative, calcium ascorbate, a common food ingredient with potent antioxidant properties, extends the shelf life of food and beverage products while preventing the loss of flavor, color, and overall quality. Hence, rising applications of calcium ascorbate positively impact the market growth.
The vitamin C market data has been bifurcated by application into pharmaceutical & nutraceuticals, food and beverages, personal care, and others. The food and beverage sector was the major application of the vitamin C market. The demand for vitamin C in various food products worldwide is rising as people become more aware of its health advantages.
The second fastest-growing segment in the vitamin C industry is the pharmaceutical sector. The pharmaceutical industry is seeing an increase in demand for vitamin C in the creation of numerous medicines that are very beneficial to a person's skin and bones.
May 2020: Homart Pharmaceuticals launched three vitamin C-containing medicines under its Toplife and Springleaf brands to meet the increased demand for immune-related products during the pandemic. The products will first be available in Australia and through e-commerce in China in the coming weeks. This launch has further broadened the growth opportunity for the vitamin C industry.
By Region, the report provides market insights into Europe, Asia-Pacific, North America, and Rest of the World. Asia Pacific Vitamin C market accounted for USD 5 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period because of the low-cost production facilities in Asia, particularly in India, China, and Japan, vitamin C demand is predicted to increase quickly in the near future. The expansion of the pharmaceutical industry in the local market drives the demand for vitamin C. For instance, the Indian pharmaceutical market increased from 13.7% in July 2020 to 17.7% in August 2021, according to the India Brand Equity Foundation.
Further, the leading countries studied in the market report are Canada, U.S, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VITAMIN C MARKET SHARE BY REGION 2022 (%)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe's vitamin C market accounts for the second-largest market share due to rising vitamin C usage in the cosmetic and pharmaceutical industries, increased usage of skincare products, and regulatory agency permission for higher vitamin C intake in diets. With 52% of individuals consuming vitamins or minerals supplements, there is a high degree of awareness about dietary supplements in Italy. Further, the German vitamin C market held the largest market share, and the UK vitamin C market was the fastest-growing market in the European region.
The North America Vitamin C Market is expected to grow at the fastest CAGR from 2022 to 2030. Due to the increased demand for vitamin C-containing cosmetics and the presence of major businesses in this market, the region is growing. Eighty percent of American women use cosmetics daily. With 161 million females, this translates to 128.8 million women applying cosmetics daily in the U.S. The market growth in this region is also fueled by rising consumer spending power. Additionally, the U.S. vitamin C market held the largest market share, and the Canadian vitamin C market was the fastest-growing market in the region.
Major market players are investing huge amounts of money in R&D to expand their product offerings, which will spur further growth in the vitamin C market. With significant market developments like introducing new products, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic initiatives to expand their footprint. To grow and thrive in a market that is becoming increasingly competitive, competitors in the vitamin C industry must offer reasonably priced goods.
One of the primary business strategies manufacturers use in the vitamin C industry to benefit clients and expand the market sector is local manufacturing to reduce operating costs. The vitamin C industry has recently given medicine some of the most important advantages. The vitamin C market major player such as GlaxoSmithKline plc (UK), Bayer AG (Germany), Koninklijke DSM N.V. (Netherlands), Amway (US), and others, are seeking to increase market demand by funding R&D initiatives.
Concentrated Active Ingredients & Flavors Inc. is dedicated to providing new and high-quality ingredients to encourage a healthier lifestyle. They market and distribute high-quality ingredients for the food and beverage, dietary supplement, and pet food industries. CAIF Nutrition understands its ingredients, functions, and supply chains. In July 2020, Concentrated Active Ingredients & Flavors, Inc. introduced a new concentrated acerola component that, according to the business, contains 32% vitamin C, which is 100 times more than an orange. The company said it believes that the level of vitamin C concentration, together with the other vitamins and minerals present within the fruit, award it 'superfood' status.
Also, LifeToGo is an e-commerce company providing beauty, health, and wellness items. They are a group of health-conscious retail professionals who want to create a better approach to cultivating high-quality items and knowledge for living joyful, healthy lifestyles. The company's product offerings include wellness supplements, pharmaceuticals, personal care items, workout equipment, apparel, and accessories. In November 2020, LifeToGo, Accelerate360, LLC's (Accelerate's) healthy living brand, launched its first nutritional product line, which includes three immunity-boosting vitamin drink mixes: Immunity +, Immunity + Energy, and Immunity + Relax. The new product line, available now at LifeToGo.com in a 30-day supply ($14.99), includes immunity-boosting vitamins and minerals, including vitamin C and zinc, and elderberry, which can help relieve cold and flu symptoms.
Vitamin C Industry Developments
October 2021: First Base Skincare launched Double Dose Superpower Organic Vitamin C serum, an anti-aging serum that boosts hydration and collagen production to prevent wrinkle formation. It is safe and effective on all skin types and has been clinically confirmed.
November 2021: Life Extension, a firm based in the United States that focuses on increasing human longevity by developing strategies to slow aging, has released a new Vitamin C 24-Hour Liposomal Hydrogel Mixture that can significantly boost the body's absorption of vitamin C. A combination of 350 mg of vitamin C and a unique liposomal delivery technology was used to create the product.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 10.9 billion |
| Market Size 2023 | USD 11.2 billion |
| Market Size 2030 | USD 13.2 billion |
| Compound Annual Growth Rate (CAGR) | 2.88% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Market Competitive Landscape, Revenue Forecast, Growth Factors, and Trends |
| Segments Covered | Type and Application |
| Geographies Covered | Europe, Asia Pacific, North America, and Rest of the World |
| Countries Covered | Canada, U.S, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | GlaxoSmithKline plc (UK), Bayer AG (Germany), Koninklijke DSM N.V. (Netherlands), and Amway (US). |
| Key Market Opportunities | Rising demand for personal care products having vitamin c |
| Key Market Dynamics | The increasing importance of vitamin c ingredients Rising prevalence of cardiovascular diseases |
Frequently Asked Questions (FAQ) :
The vitamin C market size was prized at USD 10.9 Billion in 2023.
The market is projected to grow at a CAGR of 2.88% during the forecast period, 2023-2030.
Asia Pacific had the major share of the market.
The major players in the market are GlaxoSmithKline plc (UK), Bayer AG (Germany), Koninklijke DSM N.V. (Netherlands), and Amway (US).
The sodium ascorbate category dominated the market in 2023.
The food and beverages sector had the largest share of the market.
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