Vitamin C Price Trend

Vitamin C Prices December 2023

The price of vitamin C in China for Q4 2023 reached 2425 USD/MT in December. The vitamin C market in China experienced deflation when the Consumer Price Index of -0.5% Year over Year was compared. Even when the output rate was increased, China’s Vitamin C Food USP Grade price observed a deflation of -9% attributed to the excess supply for total demand. The significant price cut was due to weak international demand despite increasing production. In the end, the Vitamin C market ended the year with positive growth, with the price recovering and presenting an optimistic trend.

The price trend for vitamin C in Germany decreased by -6% compared to the previous quarter, reaching 2745 USD/MT. The declining costs can be attributed to the shrinking end-user needs and the easy availability of vitamin C across the domestic market. By the end of the quarter, the market rose as the price increased due to the temporary Vitamin C quotation suspension by a major exporter such as China. The prices of vitamin C also increased due to improved freight prices linked with the Suez Canal obstruction and the Israeli-Hamas conflict.

Vitamin C Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Vitamin C Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of vitamin c pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of vitamin c at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of vitamin c price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing vitamin c price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Vitamin C Market Analysis

The global vitamin C market size reached US$ 1.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 3.1 Billion, at a projected CAGR of 6.00% during 2023-2032.

• The growing aging population worldwide is contributing to increased demand for vitamin C supplements due to age-related health concerns. As per the World Health Organization (WHO), the global population aged 60 years and older is expected to increase from 1 billion in 2020 to 2.1 billion by 2050. By 2030, 1 in 6 individuals in the world will be aged 60 years or over. Moreover, the number of individuals aged 80 years and older is anticipated to triple by 2050 reaching 426 million, thus increasing the demand for Vitamin C.
• In addition, the rising demand for vitamin C among the growing geriatric population to support healthy aging, and minimized risk of morbidity and mortality are propelling the market growth. According to the National Library of Medicine, France is the only country with a higher Vitamin C level recommendation of 120 mg/day for adults equal to 75 years and above. 
• The increasing popularity of e-commerce channels for purchasing dietary supplements such as vitamin C is driving the market growth. Imarc Group reports that the global e-commerce market reached US$ 21.1 trillion in 2023 and is projected to reach US$ 183.8 trillion by 2032, with a compound annual growth rate (CAGR) of 27.16% during the forecast period of 2024-2032. Online retailers catering to health-conscious consumers are witnessing increased demand for vitamin C supplements, contributing to the growth of the e-commerce industry.
• Chronic diseases such as cardiovascular diseases, cancer, and diabetes are driving demand for dietary supplements, including vitamin C, as part of preventive healthcare measures. For instance, in 2023, according to the World Health Organization (WHO), non-communicable diseases (NCDs) account for an estimated 74% of all deaths globally, killing 41 million individuals each year. According to the National Library of Medicine, Vitamin C supplementation aids in curbing the risk of numerous NCDs, including cancer, cardiovascular diseases, and neurodegenerative disorders owing to the antioxidant properties of vitamin C. It also combats inflammation, cellular damage, and oxidative stress which are implicated in the pathogenesis of NCDs, thus increasing the demand for Vitamin C across the globe.
• Government initiatives and programs aimed at promoting nutrition and dietary supplementation are driving market growth. For instance, the National Health and Nutrition Examination Survey (NHANES) conducted by the Centers for Disease Control and Prevention (CDC) in the United States provides data on dietary supplement use, influencing market trends and consumer behavior.

Vitamin C News

The report covers the latest developments, updates, and trends impacting the global vitamin c market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in vitamin c production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the vitamin c price trend.

Latest developments in the vitamin C industry:

• March 2024, DSM-Firmenich officially announced the completion and sale of its entire equity stake in DSM Jiangshan Pharmaceutical CO., Ltd to JingJiang Cosfocus Health Technology Co., Ltd.

Product Description

Vitamin C, or ascorbic acid, is a crucial nutrient vital for human health, renowned for its antioxidant abilities and roles in collagen synthesis, neurotransmitter production, and immune system support. Humans can't produce vitamin C internally and rely on diet for intake. Rich sources include fruits such as oranges, strawberries, and vegetables like bell peppers and kale.

In nature, plants synthesize vitamin C through enzymatic processes, emphasizing their symbiotic role as primary producers. This nutrient's importance lies in its diverse functions: combating oxidative stress, supporting collagen production for skin and tissue health, aiding neurotransmitter synthesis for mood and cognition, and enhancing immune system responses against infections. Industrially, vitamin C finds extensive use in pharmaceuticals for scurvy treatment and supplemental formulations targeting various health needs. Its popularity in dietary supplements reflects its wide recognition as a health booster, appealing to diverse consumer preferences.

Regional Coverage

The report provides a detailed analysis of the vitamin c market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the vitamin c price trend.

Global Vitamin C Price

The report offers a holistic view of the global vitamin c pricing trends in the form of vitamin c price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of vitamin c but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes. 

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed vitamin c demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Vitamin C Price

The Vitamin C market in Europe witnessed a drop in demand from end-users in the food and beverage (F&B), pharmaceutical, and nutraceutical sectors, as stocks were deemed sufficient. This reduced demand resulted in less active price negotiations and fewer new inquiries from industry participants. Moreover, the market was affected by abundant supply, as local companies had substantial inventory levels to fulfill orders. Another influencing factor was the decline in energy costs, which further contributed to the overall downward price trend.

This analysis can be extended to include detailed vitamin C price information for a comprehensive list of countries.

North America Vitamin C Price

The vitamin C market in North America witnessed a drop in demand due to limited interest and purchases from end-users, especially in the nutraceutical and pharmaceutical sectors. It resulted in some market instability, with demand being slightly off-balance while the supply remained sufficient. However, despite challenges like increased energy costs and fluctuating prices, the outlook for the Vitamin C market in the USA remained positive by the end of the quarter. Analysts noted minimal upward movement in various vitamins, as many were in a phase of consolidation. Despite concerns about a possible recession and managing inflation without significant job losses, the American economy in 2023 performed remarkably well, experiencing accelerated growth rather than a recession. This positive economic activity, particularly increased consumer spending towards the end of December, had a favorable impact on the Vitamin C industry, leading to price increases.

Specific vitamin c historical data within the United States and Canada can also be provided.

Middle East and Africa Vitamin C Price

The report explores the vitamin C pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on vitamin C prices for countries can also be provided.

Asia Pacific Vitamin C Price

The Asia Pacific Vitamin C market saw varied trends, with price fluctuations due to rising raw material costs and export pricing in China and India. Demand in the nutraceutical and pharmaceutical sectors declined, leading to imbalances. China experienced deflation with a -0.5% year-over-year decrease in the Consumer Price Index. Conversely, India's nutraceutical market expanded due to economic improvements, increased production, and new business inflows. Despite rising output, China faced -9% deflation in Vitamin C Food USP Grade prices, due to oversupply.

This vitamin c price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Vitamin C Price

The analysis of vitamin C prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of vitamin c pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting vitamin c price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The vitamin c price charts ensure our clients remain at the forefront of the industry.