Market for Vitamin C ingredients in dietary supplements globally to grow to US$ 2.9B in 2025

The market size of the Global Vitamin C Ingredients in Dietary Supplements market is estimated to be USD 2.081 Billion in 2018 and is expected to record CAGR growth rate of 5.3% and is expected to reach a market size of USD 2.98 Billion in 2025.

Definition / Scope
Market Overview
Market Risks
Top Market Opportunities
Market Trends
Industry Challenges
Technology Trends
Other Key Market Trends
Market Size and Forecast
Market Outlook
Technology Roadmap
Distribution Chain Analysis
Competitive Landscape
Competitive Factors
Kay Market Players
Strategic Conclusion
References
Appendix

Definition / Scope

Vitamin C ingredients are defined as the white soluble vitamins found mainly in fruits and vegetables. Vitamin C ingredients are typically produced synthetically utilizing corn or wheat starches mainly as raw material.

Various health benefits of vitamin C including skin health, dental health and blood vessels maintenance and its increasing importance as antioxidant is supporting vitamin C ingredients market. Vitamin C ingredients are essentially the functional ingredients with ascorbic acid content used mainly in the dietary supplements and fortification of food and beverages.

Market Overview

The revenue generated from Vitamin C Ingredients has been estimated to be valued over USD 2.081 Million in 2018, which is projected to increase at a CAGR of 5.3% during the forecast period (2018-2025).
The ascorbic acid product type segment was estimated to account for more than 50% value share holding a market size of USD 1.04 Billion in 2018
Sodium ascorbate which was estimated to account for about 14% value share in 2018. In terms of growth and generated revenue of USD 291.34 Million in 2018
90% granulation ascorbic acid is expected to register a growth rate of almost 7% over the forecast period 2018 to 2025.
Other vitamin C ingredients such as ascorbyl palmitate and ascorbic acid phosphate are also expected to find several applications in animal nutrition and in cosmetic and personal care products owing to their relatively higher stability.
Powdered Vitamin C Ingredients to Account for Over 80% Share of the Market
On the basis of form, crystalline and other forms of vitamin C ingredients are expected to register a robust growth of 7.4% in terms of value over the forecast period.
Two-stage fermentation accounts for over 95% of all vitamin C ingredients sold, and is also expected to register a growth of 5.4% in terms of revenue over the forecast period.

Market Risks

Competition

The vitamin C Ingredients in Dietary Supplement market is highly competitive. It faces competitors of varying size and resources. The vitamin C Ingredients in Dietary Supplement market is also highly concentrated with the top 50 companies generating 90% of industry revenues.

In a highly competitive market, profitability is increased by raising volume and lowering overall production costs per unit. The risk rating for competition is set to be High because of the highly competitive nature of the business.

Threat of New Entrants

Due to the competitive nature of the snack food industry, new competition is constantly entering the marketplace. Though it is relatively cost intensive to enter the marketplace, Another factor that lowers the industry players risk to the threat of new entrants is the product differentiation within the vitamin C Ingredients in Dietary Supplement market. The risk rating for Threat of New Entrants is set to be Moderate to High because of the low entry barrier in the market.

Threat of Substitute Products

The threat of substitutes is always a concern. Although the threat of substitutes is high, the quality control and availability of high quality products lessens this risk. As long as the market players continue their commitment to quality, substandard substitutes will not be able to compete for long.

The risk rating for threat of substitute products is presumed to be moderate rating is that existing competitors with the capital to expand their existing product lines could diminish market share.

Buyer’s Power

Due to competing products there exists substantial buying power and is a cause for concern should they decrease their orders or find a substitute producer. This also creates a credit risk for the market. The risk rating for Buyer’s Power is High because of the variance in the consumption trends.

Supplier’s Power

vitamin C Ingredients in Dietary Supplement products are made from raw materials such as corn or wheat starches. Since raw materials can be sourced from numerous sources, suppliers have little influence other than current commodity prices in the marketplace.

The primary risk that the industry players face is the current inflationary environment of commodity prices. The risk rating for supplier’s power is low because the raw materials can be sourced from numerous sources.

Top Market Opportunities

Health Benefits of Vitamin C

vitamin C Ingredients in Dietary Supplement products are essential for growth, health, vitality and prevention & cure of various health problems. Vitamins are vital for vision, normal cell reproduction and aid in production of red blood cells which is important for further growth and development, thereby increasing product demand.

Cure against Cancer

Vitamin C may prevent cancer by blocking the damage made by free radicals. “Vitamin C is a vital antioxidant that helps protect cells from damage caused by free radicals that are exposed to in the environment such as air pollution, cigarette smoke and ultraviolet light from the sun.

Antioxidant

Increase in importance of vitamin C ingredients as antioxidant and food additives have widened its applications in various food and beverage categories. Vitamin C is an electron donor, and this property accounts for all its known functions. As an electron donor, vitamin C is a potent water-soluble antioxidant in humans.

Antioxidant effects of vitamin C have been demonstrated in many experiments in vitro. Human diseases such as atherosclerosis and cancer might occur in part from oxidant damage to tissues. Oxidation of lipids, proteins and DNA results in specific oxidation products.

Applications in Food Industry

In food industry, due to its various functions in single ingredients like color enhancer, flavor enhancer, nutrition enhancer, anti-oxidant, emulsifier and preservative has boosted demand for vitamin C ingredients across various food and beverage applications.

Market Trends

Rising health awareness

Consumers have started looking for healthy foods including vitamin supplements. Growing importance of vitamin C ingredients in skincare, healing of wounds, prevention of infections, improved absorption of iron from food, reduction of the risk of chronic diseases, blood pressure control, immune health and other benefits is encouraging higher demand for vitamin C ingredients.

Compelled need for proper physiology

Different sources of Vitamin C offer unique benefits. Additionally, vitamin C ingredients are required for the growth, development and repair of all body tissues. The other functions of vitamin C ingredients include body functions like the formation of collagen, and the maintenance of cartilage, bones, and teeth.

Aid in degenerative disease cure

Health benefits of vitamin C that have been proposed but not scientifically proven include a lower risk of certain cancers, cardiovascular disease, diabetes, age-related macular degeneration and cataracts.

Higher consumer acceptability

Several technological developments have been witnessed in the production of ascorbic acid or vitamin C which has offered various advantages to manufacturers.

To improve effectiveness from the use of vitamin C ingredients in different end use applications, there have been several technological developments including encapsulation through various methods like spray drying, spray chilling, spray cooling, fluidized bed coating, and extrusion.

These methods have supported in assuring higher stability of vitamin C ingredients and improve higher consumer acceptability towards the carrier food.

Changing lifestyle

Rise in income levels has resulted in change in lifestyles including higher consumption of fast foods rich in carbohydrates and lesser nutrition in the emerging markets like Asian countries including China, India, and others. This scenario has compelled the consumers to depend on foods supplemented with vitamins essential for human body thereby encouraging higher sales of vitamin C and thereby by vitamin c ingredients.

Availability of natural alternatives of Vitamin supplements

Availability of Natural alternatives that best serves the need prevents the usage of Vitamin C ingredients. Most experts say that eating a healthy diet and not having an underlying health conditions that interferes with the body’s ability to absorb nutrients from food, It is generally not needed to take supplements. The same vitamins and minerals are often available in food.

For instance, Citrus fruits are some of the best sources of vitamin C, which acts as an antioxidant in the body and helps with the absorption of iron. Oranges in particular are high in vitamin C—one large orange boasts 97.9 mg. Other high sources are red and green peppers, kiwi and tomatoes. It is found that quality of supplements is highly variable, and many pills do not contain the ingredients they say they do or contain other ingredients that may not be on the label.

Side effects of Vitamin C overdose

For adults, the recommended daily amount for Vitamin C is 65 to 90 milligrams (mg) a day, and the upper limit is 2,000 mg a day. megadoses of vitamin C supplements might cause:

Diarrhoea
Nausea
Vomiting
Heartburn
Abdominal cramps
Headache
Insomnia

Industry Challenges

High cost of some of Vitamin C ingredients

As Vitamin C Ingredients are made from high priced fruits such as Strawberry and Pineapples and the costs associated with marketing efforts of the companies Vitamin C Supplements are exorbitantly priced. Also high price tag does not automatically infer high quality. Some manufacturers expect higher profit margins than others and, thus, jack up their prices.

Adulteration

In the last few years, the consumption of dietary supplements, especially those having plants as ingredients, has been increasing due to the common idea that they are natural products posing no risks to human health. In the European Union and the United States, dietary supplements are legally considered as foods/special category of foods, thus are not being submitted to any safety assessment prior to their commercialization.

Among the issues that can affect safety, adulteration by the illegal addition of pharmaceutical substances or their analogs is of major concern since unscrupulous producers can falsify these products to provide for quick effects and to increase sales. Hence this can cause ripple effects in the form of side-effects and malnourishment.

Technology Trends

3D printing of supplements

The controlled-release capsules obtained by additive manufacturing have been developed in 2015. The new 3D printing technology for the manufacturing of “general purpose” controlled-release capsules to be filled with personalised dosages and combinations of dietary supplements have been developed.

e-commerce and m-commerce

Data from Slice Intelligence shows the vitamin and supplement category is growing fast, with sales having increased by 40 percent in the last year. Online vitamin and supplement purchases are increasing at such a quick rate that the category is moving 12 percent faster than the e-commerce average itself.

Vitamin and supplement sales are so large online that revenue generated on these products is roughly equal to all of the money accumulated from the purchase of wearables in the last 12 months.

Other Key Market Trends

Various applications of Vitamin C ingredients in dietary supplement

Advancements in technology has boosted higher availability of vitamin C ingredients with various forms and customizations suitable to a wide range of industries. Most of the vitamin C ingredients is consumed by food and beverage industry along with pharma industry.

Multifunctional properties of vitamin C ingredients has also gained traction in the pharma industry specifically in the dietary supplements covering segments like dental health, digestive health, brain health, immune health, supports absorption of iron in the body, healthy skin, collagen formation and other health and wellness segments.

Market Size and Forecast

Asia-Pacific Excluding Japan

Asia Pacific has been leading the global market and is expected to remain doing so over the next few years. The increasing base of the population, rising concerns over health issues, and the surging patient pool suffering from vitamin deficiency are the main factors behind the growth of this regional market.

In addition, the escalating disposable income of consumers, infrastructural developments in healthcare facilities, and the presence of a broad distribution network of companies in this region will boost the Asia Pacific vitamin ingredients market in the near future. Analysts predict this regional market to rise at a CAGR of 5.40% from 2017 to 2025 in terms of value.

China Vitamin C Ingredients in Dietary Supplement Market Size

USD 380 Million – The estimated value of the Chinese Vitamin C Ingredients in Dietary Supplement Market in 2018
6.9% – The CAGR growth rate of the Chinese Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 606.22 Million- The expected value of the Chinese Vitamin C Ingredients in Dietary Supplement Market in 2025
32,000 Metric Tonnes – The estimated volume of the Chinese Vitamin C Ingredients in Dietary Supplement Market in 2018
6.2% – The CAGR growth rate of the Chinese Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
48,755 Metric Tonnes – The expected volume of the Chinese Vitamin C Ingredients in Dietary Supplement Market in 2025

India Vitamin C Ingredients in Dietary Supplement Market Size

USD 237.5 Million – The estimated value of the Indian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.7% – The CAGR growth rate of the Indian Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 373.95 Million- The expected value of the Indian Vitamin C Ingredients in Dietary Supplement Market in 2025
20,000 Metric Tonnes – The estimated volume of the Indian Vitamin C Ingredients in Dietary Supplement Market in 2018
5.9% – The CAGR growth rate of the Indian Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
29,874 Metric Tonnes – The expected volume of the Indian Vitamin C Ingredients in Dietary Supplement Market in 2025

North America

North America is a relatively stable market and is likely to showcase moderate revenue growth for vitamin C ingredients growing at a CAGR of 5.6% USA Vitamin C Ingredients in Dietary Supplement Market Size

USA Vitamin C Ingredients in Dietary Supplement Market Size

USD 135.72 Million – The estimated value of the US Vitamin C Ingredients in Dietary Supplement Market in 2018
5.6% – The CAGR growth rate of the US Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 198.74 Million- The expected value of the US Vitamin C Ingredients in Dietary Supplement Market in 2025
11,368 Metric Tonnes – The estimated volume of the US Vitamin C Ingredients in Dietary Supplement Market in 2018
5.5% – The CAGR growth rate of the US Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
16,536 Metric Tonnes – The expected volume of the US Vitamin C Ingredients in Dietary Supplement Market in 2025

Canada Vitamin C Ingredients in Dietary Supplement Market Size

USD 81.43 Million – The estimated value of the Canadian Vitamin C Ingredients in Dietary Supplement Market in 2018
5.7% – The CAGR growth rate of the Canadian Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 120.04 Million- The expected value of the Canadian Vitamin C Ingredients in Dietary Supplement Market in 2025
6,820 Metric Tonnes – The estimated volume of the Canadian Vitamin C Ingredients in Dietary Supplement Market in 2018
5.6% – The CAGR growth rate of the Canadian Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
9,986 Metric Tonnes – The expected volume of the Canadian Vitamin C Ingredients in Dietary Supplement Market in 2025

Mexico Vitamin C Ingredients in Dietary Supplement Market Size

USD 40.72 Million – The estimated value of the Mexican Vitamin C Ingredients in Dietary Supplement Market in 2018
5.8% – The CAGR growth rate of the Mexican Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 60.42 Million- The expected value of the Mexican Vitamin C Ingredients in Dietary Supplement Market in 2025
3,410 Metric Tonnes – The estimated volume of the Mexican Vitamin C Ingredients in Dietary Supplement Market in 2018
5.7% – The CAGR growth rate of the Mexican Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
5,026 Metric Tonnes – The expected volume of the Mexican Vitamin C Ingredients in Dietary Supplement Market in 2025

South America

The South America dietary supplement market is expected to grow at a CAGR of 6.7%, during the forecast period. Heavy marketing investment in a sport, which forms a major part of South American cultural identity, has contributed to the growth of the products through the familiarity and credibility of the products, giving direct selling an advantage over other sales channels for dietary supplements.

Brazil Vitamin C Ingredients in Dietary Supplement Market Size

USD 67.86 Million – The estimated value of the Brazilian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.7% – The CAGR growth rate of the Brazilian Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 106.85 Million- The expected value of the Brazilian Vitamin C Ingredients in Dietary Supplement Market in 2025
5,684 Metric Tonnes – The estimated volume of the Brazilian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.5% – The CAGR growth rate of the Brazilian Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
8,832 Metric Tonnes – The expected volume of the Brazilian Vitamin C Ingredients in Dietary Supplement Market in 2025

Argentina Vitamin C Ingredients in Dietary Supplement Market Size

USD 47.50 Million – The estimated value of the Argentinian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.8% – The CAGR growth rate of the Argentinian Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 75.20 Million- The expected value of the Argentinian Vitamin C Ingredients in Dietary Supplement Market in 2025
3,978 Metric Tonnes – The estimated volume of the Argentinian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.6% – The CAGR growth rate of the Argentinian Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
6,222 Metric Tonnes – The expected volume of the Argentinian Vitamin C Ingredients in Dietary Supplement Market in 2025

Europe

The Europe Vitamin C ingredients in dietary supplements market size was valued at USD USD 200 Mllion in 2018 and is anticipated to register a CAGR of 5.9% over the forecast period. Availability of a large number of commercialized products coupled with presence of a wide base of target consumers is one of the key trends escalating market growth.

UK Vitamin C Ingredients in Dietary Supplement Market Size

USD 57 Million – The estimated value of the UK Vitamin C Ingredients in Dietary Supplement Market in 2018
5.9% – The CAGR growth rate of the UK Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 85.14 Million- The expected value of the UK Vitamin C Ingredients in Dietary Supplement Market in 2025
4,773 Metric Tonnes – The estimated volume of the UK Vitamin C Ingredients in Dietary Supplement Market in 2018
5.8% – The CAGR growth rate of the UK Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
7,082 Metric Tonnes – The expected volume of the UK Vitamin C Ingredients in Dietary Supplement Market in 2025

Germany Vitamin C Ingredients in Dietary Supplement Market Size

USD 47.50 Million – The estimated value of the German Vitamin C Ingredients in Dietary Supplement Market in 2018
6.0% – The CAGR growth rate of the German Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 71.42 Million- The expected value of the German Vitamin C Ingredients in Dietary Supplement Market in 2025
3,978 Metric Tonnes – The estimated volume of the German Vitamin C Ingredients in Dietary Supplement Market in 2018
5.8% – The CAGR growth rate of the German Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
5,902 Metric Tonnes – The expected volume of the German Vitamin C Ingredients in Dietary Supplement Market in 2025

France Vitamin C Ingredients in Dietary Supplement Market Size

USD 38 Million – The estimated value of the French Vitamin C Ingredients in Dietary Supplement Market in 2018
6.1% – The CAGR growth rate of the French Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 57.52 Million- The expected value of the French Vitamin C Ingredients in Dietary Supplement Market in 2025
3,182 Metric Tonnes – The estimated volume of the French Vitamin C Ingredients in Dietary Supplement Market in 2018
5.9% – The CAGR growth rate of the French Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
4,753 Metric Tonnes – The expected volume of the French Vitamin C Ingredients in Dietary Supplement Market in 2025

Middle East and Africa

The Middle East and Africa is one of the modest growing region in the Vitamin C Ingredients in Dietary Supplement market holding a market share 3.6% of the global market in terms of revenue.

Saudi Arabia Vitamin C Ingredients in Dietary Supplement Market Size

USD 37.45 Million – The estimated value of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.8% – The CAGR growth rate of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 59.35 Million- The expected value of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement Market in 2025
3,060 Metric Tonnes – The estimated volume of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement Market in 2018
6.6% – The CAGR growth rate of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
4,786 Metric Tonnes – The expected volume of the Saudi Arabian Vitamin C Ingredients in Dietary Supplement Market in 2025

UAE Vitamin C Ingredients in Dietary Supplement Market Size

USD 14.9 Million – The estimated value of the UAE Vitamin C Ingredients in Dietary Supplement Market in 2018
6.6% – The CAGR growth rate of the UAE Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 23.31 Million- The expected value of the UAE Vitamin C Ingredients in Dietary Supplement Market in 2025
1,424 Metric Tonnes – The estimated volume of the UAE Vitamin C Ingredients in Dietary Supplement Market in 2018
6.6% – The CAGR growth rate of the UAE Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
2,227 Metric Tonnes – The expected volume of the UAE Vitamin C Ingredients in Dietary Supplement Market in 2025

South Africa Vitamin C Ingredients in Dietary Supplement Market Size

USD 11.92 Million – The estimated value of the South African Vitamin C Ingredients in Dietary Supplement Market in 2018
6.5% – The CAGR growth rate of the South African Vitamin C Ingredients in Dietary Supplement value in the forecast period 2018 to 2025
USD 18.52 Million- The expected value of the South African Vitamin C Ingredients in Dietary Supplement Market in 2025
1,139 Metric Tonnes – The estimated volume of the South African Vitamin C Ingredients in Dietary Supplement Market in 2018
6.4% – The CAGR growth rate of the South African Vitamin C Ingredients in Dietary Supplement volume in the forecast period 2018 to 2025
1,758 Metric Tonnes – The expected volume of the South African Vitamin C Ingredients in Dietary Supplement Market in 2025

Market Outlook

The revenue generated from Vitamin C Ingredients has been estimated to be valued over USD 2,081 Million in 2018, which is projected to increase at a CAGR of 5.3% during the forecast period (2018-2025) and expected to reach a market size of USD 2,987.24 Million in 2025.
The ascorbic acid product type segment was estimated to account for more than 50% value share holding a market size of USD 1,040 Million in 2018 and expected to grow at a CAGR of 5.2% to reach a market size of USD 1,483.01 Million in 2025
Sodium ascorbate which was estimated to account for about 14% value share in 2018. In terms of growth and generated revenue of USD 291.34 Million in 2018 and is expected to grow at a CAGR of 6.0% to reach a market size of USD 438.07 Million in 2025
90% granulation ascorbic acid is expected to register a growth rate of almost 7% over the forecast period 2018 to 2025.
Other vitamin C ingredients such as ascorbyl palmitate and ascorbic acid phosphate are also expected to find several applications in animal nutrition and in cosmetic and personal care products owing to their relatively higher stability.
Powdered Vitamin C Ingredients to Account for Over 80% Share of the Market
On the basis of form, crystalline and other forms of vitamin C ingredients are expected to register a robust growth of 7.4% in terms of value over the forecast period 2018 to 2025.
Two-stage fermentation accounts for over 95% of all vitamin C ingredients sold, and is also expected to register a growth of 5.4% in terms of revenue over the forecast period 2018 to 2025.

Technology Roadmap

Nootropics + neuroplasticity

Neuroplasticity is the now proven principle that we can change the structure and function of our brains throughout our lives and that our thoughts, emotions and behavior are the primary means of doing that. Supplements help too.

The discovery of neuroplasticity has led to the explosion of natural nootropics. Nootropics are substances that can be taken to improve mental performance in healthy people (one of the most well-known nootropics is the caffeine found in the beloved cup of morning coffee) and they are most often used to boost memory, focus, creativity, intelligence and motivation.

Nootropics may also reduce age-related declines in brain function. Look for more brain-boosting formulas on the supplement shelves in the coming year.

Distribution Chain Analysis

There are three value chain processes in the distribution of Vitamin C ingredients in dietary supplements, which are research and development, production, and distribution.

The research and development process includes activities conducted at the beginning of an innovation spectrum; in the context of health supplements, this refers to the activities of research and product formulation. Production comprises processing, manufacturing, product registration, packaging and labelling activities.

Processing is described asthe production and blending of ingredients for the health supplements, and these or parts of them can also occur during manufacturing,

While manufacturing refers to activities related to the final production of the health supplements. Product registration, packaging and labelling are activities performed prior to the distribution of the health supplements in the market.

Some parts of these activities can also occur during the manufacturing of the health supplements. Distribution refers to the act of distributing the registered, packed, and labelled health supplements to drugstores, pharmacies or other selected channels.

Below are some distribution channels for Vitamin C Ingredients in Dietary supplements. There are a number of ways to sell Vitamin C Ingredients in Dietary supplements to consumers

Direct selling

Direct selling accounts for 37.5% of the market as of 2018. Brands include Amway and Herbalife. The total market share of this channel has been significant because of the lack of organised retailers and doctors prescribing supplements for their patients.

Pharmacies

Sellers include Major pharmacy chains and other branded para-pharmacy chain stores. Other Sellers include Major online pharmacy chains which follow inventory-based models

Internet retailing

Besides online pharmacies, Brands can target major e-commerce portals like Amazon and E-bay

Other retail channels

Specialty health and organic food stores
Supermarket chains
Exporters should consider developing an omni-channel strategy that is appropriate for the category.

Competitive Landscape

The dietary supplements market is highly fragmented in nature as a result of the presence of numerous small and large-scale vendors, specifically in the Japan, U.S., and China.

The market is influenced by various key players such as Amway, Abbott Laboratories, Glanbia, Archer Daniels Midland, GlaxoSmithKline, and DuPont.

Significant players depend on strategies, for example, joint ventures mergers, and acquisitions to raise their market presence. The vendors in the market compete on a different basis such as quality, innovation, service, reputation, promotion, and strategic initiatives.

They also focus on increasing their profitability through R&D activities and product innovation. Therefore, the vendors are required to distinguish their product and service offerings through clear and unique value propositions.

In April 2016, Amway launched a new sports nutrition line and continued its expansion into the sports and performance nutrition market. In January 2016,

Pfizer acquired Treerly and its family products from Sirio Pharma. Treerly was one of the major healthcare brands in the retail channel of China and has a vast range of products designed for women’s nutritional healthcare.

Prominent players in the Vitamin C market are focusing on strategic developments. This can primarily be attributed to the efforts being made by companies to meet the increasing demand for Vitamin C from end-use industries.

Glanbia Nutritionals China (Suzhou) Co., Ltd. recently completed the acquisition of Grass Advantage LLC, a plant-based nutrition products firm, to meet the increased demand for vitamins/Ascorbic Acid.

Further, the company announced acquisition of Body & Fit, a leading direct-to-consumer (DTC) online branded business to gain market share in the nutrition business segment.

The CSPC Pharmaceutical Group Limited has entered an agreement with China-based Ouyi Pharmaceutical, over the sales of Ascorbic Acid, sales of an antibiotic, and product processing services.

Competitive Factors

Quality

Competitive advantage denotes a firm’s ability to achieve market superiority over its competitors. In the long run, a sustainable competitive advantage provides above-average performance. The characteristics relate to quality, quality can be an important means of gaining competitive advantage.

Innovation

The market dynamics are affected by many factors – from consumers’ socioeconomic conditions to a firm’s capacity to show an innovative product for consumption. Thus, innovation is becoming the companies’ main competitive factor to increase and keep their operating area.

Competitive Pricing

Competitive pricing is the process of selecting strategic price points to best take advantage of a product or service based market relative to competition. This pricing method is used more often by businesses selling similar products, since services can vary from business to business, while the attributes of a product remain similar.

This type of pricing strategy is generally used once a price for a product or service has reached a level of equilibrium, which occurs when a product has been on the market for a long time and there are many substitutes for the product.

Key Market Players

FOODCHEM is a Chinese leading company in sales, marketing and distribution of innovative and standard food additives and ingredients. With over 200 products and world-class supplier base, FOODCHEM offers one-stop-shop solutions to more than 1,000 customers in global food & beverage, pharmaceutical, cosmetics, animal nutrition and chemical industry which covers 120 countries and regions in the world.

Koninklijke DSM N.V. (Royal DSM, commonly known as DSM), is a Dutch multinational active in the fields of health, nutrition and materials. Headquartered in Heerlen, at the end of 2017 DSM employed 21,054 people in around 50 countries and posted net sales of €8.632 billion.

CSPC Pharmaceutical Group researches, develops, manufactures and sells pharmaceutical products. Its headquarters is in China’s Hebei Province. CSPC produces both active pharmaceutical ingredient (API) and formulations. API products include penicillin, cefalosporins, synthetic vitamins, caffeine and ranitidine. Formulations include antibiotics, butylphthalide (NBP) and analgesics, in addition to nearly 1,000 other products.

Glanbia plc It has leading market positions in sports nutrition, cheese, dairy ingredients, speciality non-dairy ingredients and vitamin and mineral premixes. Glanbia products are sold or distributed in over 130 countries. The Group has four segments; Glanbia Nutritionals, Performance Nutrition, Glanbia Ireland and Joint Ventures & Associates.

Northeast Pharmaceutical Group Co., Ltd. provides chemical synthetic and bio-fermentation APIs, and medicinal and micro-ecological preparation products in China. It offers various nutritional products, such as Vitamin C, L-Carnitine, and other products for customers in food, beverage, and health industries; API products comprising fosfomycin, anti HIV, and other products; and chemical products, including chemical and pharmaceutical intermediates, chiral separation reagent products, etc.

The company also provides healthcare products, such as dietary supplements, prescription and OTC products, and OEM products comprising. In addition, it engages in medical distribution business.

North China Pharmaceutical Group Corp. (NCPC) is a leading pharmaceutical manufacturer in China. Being one of the world leading antibiotic producers both in technology and production scale at that time, NCPC created a history of commercial production of antibiotics in China.

Hangzhou Focus International Trading Corporation, which is a professional supplier of food additives & ingredients in international market, is the affiliated company of Hangzhou Focus Corporation.Hangzhou Focus Corporation located in Hangzhou, Zhejiang Province is next to Shanghai port and Ningbo port. It is specialized in manufacturing food additives & ingredients.

Beijing Heronsbill Food Material Co Ltd is a high-tech enterprise involved in manufacturing, sales, research and development. Heronsbill sells various food ingredients and food additives, including :- Instant tea powder series, Food grade flavor series, Concentrated fruit and vegetable juice series and Food additives series. The food additives mainly consist of sweeteners, vitamins, pectin, etc. Our products have been sold to Europe and America, Africa, Japan and South Korea, and Australia.

Curechem is a leading supplier of high quality chemicals with head office in Johannesburg and another in Durban, South Africa.

Shandong Luwei Pharmaceutical Co.,Ltd is one of the top leading VC producing enterprises in China.we have 20 years of production experience. The quality of our products is up to the standard of CP/USP/EP/BP etc.. 95% of the products are exported to the regions of North America, the Europe and so on.

Triveni Interchem Pvt. Ltd. is one of the leading industrial chemicals manufacturer and supplier. They primarily deal in both organic and inorganic chemicals, and therefore our horizon of trade in the market has widened. They are engaged in the manufacture and supply of Fluoride, Fluoborate, Slico Fluoride, Cryolite, Sulphate, Chloride, Phosphate, Carbonate, Acid, Borate, Chloride, Benzene.

COFCO full name China National Cereals, Oils and Foodstuffs Corporation, is one of China’s state-owned food processing holding companies. COFCO Group is China’s largest food processor, manufacturer and trader.

AB Mauri is an operating division of Associated British Foods (ABF). It was formed in 2004 from the bakery ingredients businesses that ABF had acquired, including those from Australian Burns Philp, Sohovos in Brazil, DSM in Europe, and Oregon-based Innovative Cereal Systems.

Merck & Co., Inc., is an American multinationalpharmaceutical company and one of the largest pharmaceutical companies in the world. Merck & Co. is the world’s seventh largest pharmaceutical company by market capitalization and revenue. Its headquarters is located in Kenilworth, New Jersey.

Strategic Conclusion

The major challenges pricking the growth of the Global Vitamin C Ingredients in Dietary Supplement market includes High Cost of some of Vitamin C Ingredients and Adulteration

The growth of the market is restrained by factors such as Availability of Natural Alternatives of vitamin Supplements and Side Effects of vitamin c overdose

The growth of the Global Vitamin C Ingredients in Dietary Supplement market is augmented by driving factors such as Rising Health Awareness, Compelled need for proper physiology, Aid in Degenerative Disease Cure, Higher Consumer Acceptability and Changing lifestyle.

Appendix

CAGR – Compounded Annual Growth Rate
USD – US Dollar
COFCO – China National Cereals, Oils and Foodstuffs Corporation