In vitro studies have shown that ascorbic acid is able to suppress melanoma cell proliferation and accelerate apoptosis, which will boost the market of ascorbic acid.
HYDERABAD, TELANGANA, INDIA, Sept. 26, 2022 /EINPresswire.com/ — IndustryARC in its latest report predicts that the market size of ascorbic acid was estimated at US$1.39 billion in 2020 and is expected to grow throughout the year will grow by 5.8% during forecast period 2021-2026. Ascorbic acid and vitamin C are often used interchangeably. Ascorbic acid is the best form of vitamin C found naturally in food. In addition to increasing chronic disease prevalence, increasing government initiatives to raise awareness of the benefits of ascorbic acid will also provide growth opportunities for the ascorbic acid industry during the forecast period 2021-2026. The report offers a complete analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more.
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The central theses:
1. Geographically, APAC held 38.3% of the total market share in 2020 due to the presence of major manufacturers in the region.
2. Increasing demand from pharmaceutical and cosmetics industries due to multiple health benefits including enhanced immune function, tissue healing, and bone, teeth and skin health is the main driving force for ascorbic acid market during forecast period 2021-2026.
3. A detailed analysis of the strengths, weaknesses, and opportunities of the leading market players is provided in the Ascorbic Acid market.
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1. On the basis of type, the market is segmented into calcium ascorbate, sodium ascorbate, magnesium ascorbate, potassium ascorbate and others. Calcium Ascorbate segment held the highest market share in 2020 due to increasing health benefits such as improving immune function, repairing damaged tissues and improving bone, teeth and skin health.
2. The segment’s dominance is largely attributed to its natural food ingredients, which create nutritious clean-label foods and beverages to meet the growing demand of health-conscious consumers while extending product shelf lives. As a result, ascorbic acid is commonly used to fortify or add a citrus flavor to fruit juices, cereals, fruit-flavored candies, dried fruits, deli meats, and frozen foods.
3. Geographically, APAC dominated the ascorbic acid market with a regional share of 38.3% in 2020, followed by North America and Europe. The presence of a large number of pharmaceutical and cosmetic companies investing heavily in research is expected to drive the growth of the ascorbic acid market in APAC.
The Top 5 Players in Global Ascorbic Acid Industry are –
1. BASF SE
2. CSPC Pharma Group
3. Bactolac Pharmaceutical Inc.
4. Northeast Pharmaceutical Group
5. HebeiWelcome Pharmaceutical Co.
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A. Vitamins and Dietary Supplements Market
B. Vitamin C Ingredients Market