Ascorbic acid, commonly known as vitamin C, is used in various important end use industries such as pharmaceuticals, food and beverages, personal care and others. However, it is the pharmaceutical industry that is the largest consumer of ascorbic acid. As vitamin C helps in the recycling on vitamin E, the former is used for preparing vitamin C supplements in the pharmaceutical industry. In the food and beverages industry, ascorbic acid is used as an additive to enhance food quality and improve stability of food. Also, the added benefit of using ascorbic acid in food products is that it helps to preserve the aroma, colour and nutrient content of the food.
Ascorbic acid acts as a vitamin in case of there being a deficiency of vitamin C in the body and it is also known for its antioxidant properties. However, the main use of ascorbic acid is to prevent and treat the vitamin C deficiency in the body. Due to the vitamin C deficiency, a disease called Scurvy can occur due to which one may suffer from body rashes, muscle weakness, joint pain and tooth decay.
The global ascorbic acid market is all set to register a high growth trajectory in the coming decade with increasing use of this product in the pharmaceuticals and food and beverage industries. The deficiency of vitamin C is affecting increasing number of people in the world due to a change in lifestyle and a change in dietary habits of the population. Coupled with this, a rising awareness about leading a healthy lifestyle and growing living standards is expected to further boom the global market for ascorbic acid during the coming decade.
In addition, ascorbic acid is also used as a reducing agent and has good antioxidant properties. A large demand for ascorbic acid is sourcing from the demand of the antioxidant diet supplement market. This is going to further increasing the demand of ascorbic acid in the market. Due to the heavy investments and cutting edge research and development done by key industry players and along with a rapid pace of progression in the pharmaceutical and medical industries, the demand of ascorbic acid is going to surge further.
However, there are also a variety of restrains affecting the global ascorbic acid market. Some of the restraints are related to the raw materials supply for the manufacture of ascorbic acid. Since the production of ascorbic acid is highly dependent on the supply of these raw materials, uncertainty in the supply of such materials and global fluctuations in the price of such raw materials may adversely affect the global ascorbic acid market. In addition, isoascorbic acid is being increasingly used in the place of ascorbic acid as a preservative in the food & beverage industry, thereby adversely affecting the global ascorbic acid market. Geographically speaking, the market for ascorbic acid is primarily concentrated in the Asia Pacific region, followed by Europe and North America. In addition, the Asia Pacific region is poised to be the fastest growing ascorbic acid market in the coming decade. The reason for this demand of ascorbic acid is due to increasing concentration of people for fitness, and hence consumption of gym and nutritional supplements containing ascorbic acid is on the rise globally.
Some of the important players in the global ascorbic acid market are BASF SE, Nestle, North China Pharmaceutical Group, Aland Nutraceuticals Group, Dishman Group, DSM, and Shandong Luwei Pharmaceutical among others.
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