Deerfield Beach, FL, Aug. 24, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Ascorbic Acid Market for Pharmaceutical, Food & Beverages, Personal Care and Other End-user Industries: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to the report, the global ascorbic acid market was around 150.2 kilo tons in 2015. The global ascorbic acid market revenue accounted for USD 820.4 million in 2015 and is expected to reach USD 1083.8 million by 2021, growing at a CAGR of around 4.8% between 2016 and 2021.
The global Ascorbic Acid market is expected to witness moderate growth over the forecast period on account of increasing demand from pharmaceutical industry. Majority of ascorbic acid manufactured is used as an antioxidant. The major end-user industries of ascorbic acid are pharmaceuticals, food & beverages, personal care and others. Pharmaceutical industry is largest consumer of ascorbic acid. Vitamin C helps to recycle vitamin E. About one-third of total production of ascorbic acid is used for vitamin preparations in the pharmaceutical industry. The rest is mainly applied as an additive to food and feed to enhance product quality and stability. Ascorbic acid added to foodstuffs during processing or before packing protects color, aroma, and nutrient content. The usage of ascorbic acid in food & beverages industry is expected to grow at a healthy CAGR during the forecast period.
Browse 30 Market Tables and 18 Figures spread through 110 Pages and an in-depth TOC on "Ascorbic Acid Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Ascorbic acid production is hugely dependent on availability of raw material. Thus, any fluctuation in availability and prices of raw material can severely affect ascorbic acid market. This is expected to curb the growth of ascorbic acid market over the years. However, investments in research and development by major industry players coupled along with exponential technological advancements in pharmaceutical industry is expected to act as a major opportunity for ascorbic acid market.
Asia Pacific is expected to be the fastest regional segment for the ascorbic acid market within the forecast period. Asia-Pacific was largest consumer of ascorbic acid in 2015. The consumption in Asia Pacific is expected to grow at a rapid pace mainly due to availability of low cost manufacturing facilities in China. China is the largest consumer and producer of ascorbic acid. Moreover, the ever increasing demand for food and health supplements primarily in Asia Pacific is expected to boost the demand for ascorbic acid in this region.
Browse the full "Ascorbic Acid Market for Pharmaceutical, Food & Beverages, Personal Care and Other End-user Industries: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at http://www.marketresearchstore.com/report/ascorbic-acid-market-z71526
North America and European market is also expected to grow as a result of increasing demand for low calorie sweeteners; primarily in European Union and the U.S. in the next six years. Changing lifestyle, eating habits of people and lack of exercise is affecting people health. This in turn is resulting in increase the number of diabetic patients and other health issues. These health issues are expected to boost the ascorbic acid market in North America and European region. Ascorbic acid, its salts, and ascorbyl palmitate are registered food additives in the European Community and classified as generally recognized as safe (GRAS) substances by the FDA. This has resulted in increase in demand of ascorbic acid from food & beverages industry. Developing countries such as Brazil is expected to drive the demand for ascorbic acid in Latin America. While, the demand for ascorbic acid in the Middle East and Africa is expected to grow at a sluggish growth rate.
Some of the key players of the market include, DSM, DuPont, BASF SE, Northeast Pharmaceutical Group, Shandong Luwei Pharmaceutical, Bactolac Pharmaceutical Inc, CSPC Pharmaceutical Group, Hebei Welcome Pharmaceutical Co, North China Pharmaceutical Group, Dishman Group, Aland Nutraceuticals Group, NBTY Inc., GlaxoSmithKline Plc. and others.
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This report segments the global ascorbic acid market as follows:
Global Ascorbic Acid Market: End-user Segment Analysis
- Food & beverages
- Personal Care
Global Ascorbic Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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