Vitamin C Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Vitamin C in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Vitamin C Price Trend for October-December of 2023

Asia

In Asia, particularly in major Vitamin C producing countries like China, the Vitamin C price trend during the fourth quarter of 2023 displayed a nuanced balance. The stability in the Asian market was primarily driven by effective supply chain management and the global alignment of Vitamin C prices. A notable reduction in the cost of key raw materials, such as Sorbitol and Corn Starch, which are essential in Vitamin C production, aided in maintaining this equilibrium.

Vitamin C Price Chart

Vitamin C Price Trends and Forecast

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Despite stable prices, there was a slight decrease in purchasing enthusiasm from downstream buyers, indicative of a cautious stance in the market. As the quarter concluded, the Asian Vitamin C market saw a stabilization, spurred by a steady demand outlook, increased domestic production capabilities, and a rise in the prices of Vitamin C APIs (Active Pharmaceutical Ingredients).

Europe

In Europe, the Vitamin C price trend during the last quarter of 2023 was relatively steady, closely mirroring the trend in exporting countries. The European market experienced a gradual increase in Vitamin C prices, influenced by global market trend and a reliance on imports. The heightened demand during the holiday season significantly contributed to this price rise. Moreover, the consistent demand in the pharmaceutical and healthcare sectors ensured a stable market environment.

European market dynamics were also shaped by the global supply chain status, especially the availability and pricing of essential raw materials. European manufacturers navigated these challenges by tactically adjusting their pricing strategies, resulting in a moderate but consistent rise in Vitamin C prices.

North America

In North America, the Vitamin C price trend in Q4 2023 initially showed variability amidst complex global market conditions, with prices displaying some fluctuations. Challenges arose due to oversupply issues in Asia and global economic pressures. However, as the quarter advanced, the market began to stabilize, leading to a gradual price increase.

This stabilization was in part due to strategic actions by major pharmaceutical firms to balance supply-demand equations. A boost in consumer confidence in November, reflecting an optimistic economic outlook, also significantly contributed to an uptick in Vitamin C demand. By the end of the quarter, the North American market adapted to these global trend, with manufacturers and suppliers revising their strategies to secure their market position and adapt to the evolving market dynamics.

Analyst Insight

According to Procurement Resource, the global price trend for Vitamin C is expected to show a miscellaneous price trajectory in 2024. The nutraceuticals industry will largely affect the vitamin C landscape and any demand-side change in the sector is directly related to vitamin C market.

Vitamin C Price Trend for the July-September of 2023

Asia

The Vitamin C market in Asia continued its run downhill in the third quarter of the year 2023 as well. Since the inventories were flooded with Vitamin C stocks, the existing market demands could not support the market dynamics. In the past few years, especially during Covid and sometime after that, the Vitamin C demands surged exponentially because of its immunity-boosting benefits.

The skin care industry, too, showed remarkable interest in Vitamin C-related products. Owing to this, Vitamin C demands surged from downstream pharmaceuticals, nutraceuticals, and the cosmetic industries. This prompted suppliers to carelessly order Vitamin C in excessive quantities. As time progressed, the Vitamin C demand curve plateaued after a certain point, thereby causing the Vitamin C price trend to remain downward, wavering throughout the discussed time span. The slump in the feedstock wheat and other grain prices that are used in the fermentation process of producing Vitamin C also contributed to the weakening trend.

Europe

The European Vitamin C market was no different than the Asian market as the excess inventory stocks kept the pricing dynamics riddled here as well. Feeble demands in front of mountainous stockpiles pushed the Vitamin C prices graph down during the third quarter of the year 2023.

North America

The North American Vitamin C market closely mimicked its Asian and European counterparts during Q3’23 as the price index consistently registered depreciating trend here as well. The global slump in the Vitamin C market primarily influenced the price trend as the market offtakes didn’t show any improvements during the given period.

Analyst Insight

According to Procurement Resource, Vitamin C price trend are not likely to improve anytime soon since the heavy inventory stocks will keep dominating the market trend.

Vitamin C Price Trend for the First Half of 2023

Asia

The domestic market for vitamin C suffered from the feeble condition of the pharmaceuticals and nutraceuticals industries, which led to a rise in the level of inventories in the first quarter of 2023. In the second quarter, too, the rates of procurement fell consistently in both the domestic and international sectors, which negatively affected the vitamin C market trend. In addition to this, the traders had to reduce their profit margins, and further, the slowing down of small businesses ultimately caused the downfall in the price trend of vitamin C.

Europe

The import rates of vitamin C in the first quarter took a huge upswing that flooded the European markets with an excess of inventories. The level of stockpiles was also countered by the demand from the pharmaceutical and nutraceutical industries, which, in turn, supported the growth of vitamin C prices during this quarter. But soon, the production rates surpassed the demand, and inventories rose to alarming levels. The prices of gas began to fall right from the start of this quarter, which indicated the revival of the European economy, but the inflation rose significantly at the end of the month, hampering the growth rates of vitamin C prices.

North America

In North America, the first quarter prices of vitamin C were supported by consistent demand from the downstream industries. The removal of COVID restrictions in China further facilitated trade activities and also caused a decline in freight charges. However, the second quarter took a bearish turn due to a fall in market sentiments of the beverage, cosmetics, and nutraceuticals industries. The fall in energy prices somehow stabilized the fall in prices, but weak economic growth and a hike in interest rates proved to be a challenge for the growth of vitamin C prices.

Analyst Insight

According to Procurement Resource, the price trend of Vitamin C is estimated to decline due to a negative growth rate adopted by the downstream industries and a fall in the global economy.

Procurement Resource provides latest prices of Vitamin C. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About

Vitamin C also known as ascorbic acid is a white to light yellow solid, an essential dietary component for humans and animals. It is a carbohydrate-like compound soluble in water and is essential for the human body as it helps synthesise collagen, acts as an antioxidant and also helps stimulate the immune system. It naturally occurs in citrus fruits and vegetables, and its deficiency can cause scurvy.

Product Details

Report Features Details
Product Name Vitamin C
Industrial Uses Bakery, beverages, fruit processing, as a preservative for meats, water treatment, as supplements
Chemical Formula C6H8O6
HS Number 29362700
CAS Number 78619-96-2
Synonyms Ascorbic acid
Molecular Weight 176.12 g/mol
Supplier Database Foodchem International Corporation, CSPC Pharmaceutical Group Limited, Glanbia PLC, Northeast Pharmaceutical Group Co. Ltd, The TNN Development Limited, Microbelcaps, Beijing Heronsbill Food Material Co. Ltd, Duchefa Biochemie, Medibro Corporation Limited, Chemizo Enterprise, DSM, DuPont, ADM, Sanofi, Bayer AG, Abbott, GlaxoSmithKline PLC, Merck & Co. Inc.
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand

Europe: Germany, France, United Kingdom, Italy,  Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece

North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Processes

Vitamin C is commercially produced via glucose. Wheat and corn are used as raw starch materials, converted to glucose first. The thus-formed glucose is then used to make sorbitol which is fermented to form sorbose and again fermented to give keto gluconic acid, which finally gets converted to ascorbic acid.

Methodology

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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