Vitamin C - Procurement Best Practices & Sourcing Strategies

Procurement Market Intelligence Report

Vitamin C – Procurement Best Practices & Sourcing Strategies

Vitamin C Market – Executive Summary, COVID Section, Market Overview, Market Monitoring Insights, Market Trends, Industry Analysis, Industry Best Practices, Purchasing Process, Sustainability Initiatives, Supplier Section

1. Executive Summary
1.1. Executive Summary
1.2. Supply Market Outlook
1.3. Demand Market Outlook
1.4. ELINT’s Recommendations for an Ideal Category Strategy
1.5. Category Opportunities & Risks
1.6. Negotiation Leverage
1.7. Talking Points to Business
2. COVID Section
2.1. COVID Impact
2.2. Sourcing Location Watch
2.3. Supplier Watch
2.4. Industry Watch
2.5. Impact of COVID-19 on Vitamin B
3. Market Overview
3.1. Market Overview – Vitamin C
3.2. Regional Market Outlook – China
3.3. China Export Volumes
3.4. Value Chain and Supply Analysis
4. Market Monitoring Insights
4.1. Cost Structure Analysis
4.2. Commodity Price Forecast: Vitamin C
4.3. Cost Analysis and Expected Savings
5. Market Trends
5.1. Key Market Trends
6. Industry Analysis
6.1. Porter’s Five Forces Analysis
6.2. Industry Events
7. Industry Best Practices
7.1. Vitamin C Engagement Model
8. Purchasing Process
8.1. RFI Builder
9. Sustainability Initiatives
9.1. Sustainability Initiatives and Best Practices
10. Supplier Section
10.1. Key Global Suppliers
10.2. Supplier Profile
10.3. Supplier SWOT

  1. Which region is expected to lead the global vitamin C market?

APAC region is expected to lead the vitamin C market in upcoming years.

 

  1. What is the emerging trend in the vitamin C sector?

Consumers’ preference for consuming nutritional supplements is an emerging trend that drives the need for vitamin C.

 

  1. What is the future prediction for the vitamin C industry?

The vitamin C industry is anticipated to obtain a USD 6.27 billion valuation by 2030 at a CAGR of 5.5%.

DESCRIPTION

Vitamin C Market Global Size:

Increasing utilization of vitamin C in multiple food and medicine products caused the global vitamin C market size of $1.28 billion in 2023. Also, ELINT Market Research’s procurement intelligence analysis predicted a $1.7 billion worth by 2028 at a CAGR of 5–6 percent. Thus, in the upcoming years, the industry is anticipated to expand. Furthermore, vitamin C plays a critical function in the production of collagen, which is essential for preserving the strength and suppleness of blood vessels, tissues, bones, muscles, ligaments, and skin. This promotes injury healing and preserves tissue morality.

 

Therefore, both developed and underdeveloped countries have a significant demand for vitamin C, which is an essential antioxidant. In this sense, China emerged as the biggest producer and exporter of vitamin C which is fulfilling more than 60% of worldwide vitamin C goods needs. Moreover, besides this compound, China also produces various other vitamins like D, K, E, B, etc. Further, the report declares that the U.S. has appeared as the biggest consumer of vitamin C products in the international market to meet the pharmaceutical, food, and beverage sectors’ needs. Consequently, the fact that the worldwide population depends on the supply of vitamin C in China emphasizes the need for healthy economic relations with this country.

Market Definition:

Vitamin C mainly works as an antioxidant substance that helps enhance immunity and protect against harmful free radicals. Thus, individuals dealing with chronic diseases employ vitamin C goods to make their immune system strong by strengthening the production and operation of large white blood cells. Also, basic illnesses like the common cold can be reduced with the help of vitamin C since it lowers infections and promotes faster recovery.

Vitamin C Market Drivers:

  1. Rising Demands for Vitamin C –

Vitamin C has versatile properties of curing and preventing multiple health-related conditions such as lack of vitamin C, injury repair, enhancing white blood cells, and much more. Thus, the vitamin C market primarily experiences demands from the healthcare industry. Also, vitamin C has minimal negative side effects which made it a first choice of consumers.

 

  1. Need for Food Protection –

Vitamin C emerged as a major substance that helps prevent different food items in the global market including beverages, processed foods, juices, sweets, bakery items, health supplement foods, etc. This reason drives massive development in the global vitamin C market. Additionally, growing urbanization and financial freedom will accelerate the market’s expansion.

Vitamin C Market Challenges:

  1. Lowered Vitamic C Production Activities –

Diverse factors like governmental laws, supply chain obstacles, geopolitical tensions, etc. can cause temporary or permanent obstacles in the production of vitamin C. This fact causes vast challenges to the market players since they are required to find ways to facilitate their vitamin C manufacturing operations.

 

  1. Changing Consumer Choices –

Consumers can depend on natural sources like fruits and vegetables rather than supplements to meet their vitamin C needs, which poses siigfcant challenges for vitamin C supplement-making companies. Thus, as natural alternatives of vitamin C occur in the market, the demand for artificial supplements will get lower.

Vitamin C Market Opportunities:

  1. Requirements for Nutrient Rich Foods –

Rising demand for health supplements and nutrient-rich foods propels new prospects and facilities in the global vitamin C procurement intelligence market. The reason behind this fact is vitamin C is a major source of enhancing immunity systems in humans. Thus, worldwide healthcare industry businesses invest in refinements in affordable biotechnology and production operations to provide sustainable manufacturing methods.

 

  1. Rise of Strict Environmental Regulations –

Increasing awareness to prevent waste and environmental pollution encourages worldwide governments to establish rigid rules for building eco-friendly manufacturing plants of Vitamin C. Hence, organizations invested in sustainable technologies and practices such as smart filtration tools, garbage reduction tools, and energy-saving production activities. Despite this fact that these technologies can augment initial operational expenses but eventually offer long-term benefits.

Vitamin C Market Segmentation:

  1. Various Applications –

Due to vitamin C’s versatility, this compound has applications in multiple domains such as skin care, animal food, pharmaceuticals, processed food, and soft drinks. Hence it is a primary segmentation factor for the vitamin C industry.

 

  1. Type of Vitamin C Sources –

The natural sources segment of vitamin C is expected to lead the global market by 2031. These natural sources include oranges, lemons, kiwis, vegetables, juices, tomatoes, green chilies, berries, and papayas. Most individuals prefer these natural food items to acquire vitamin C benefits. On the other hand, for synthetic sources of vitamin C. customers depend on medical supplements.

Regional Analysis of the Vitamin C Market:

The geographical outlook of the global vitamin C procurement market displays varied levels of maturity in diverse nations. In this context, China and India emerged as fundamental regions that possess high maturity levels due to the existence of smart infrastructures and plants. These nations mainly depend on Sorbitol, potassium permanganate, and acetone to produce handy vitamin C products. These raw materials’ availability significantly influences manufacturing efficiency and overall market dynamics. Moreover, when it comes to medium degree maturity, the Netherlands and the US  emerged as key nations, which have reduced levels of production rates than India and China.

 

Lastly, lower market maturity countries include South America and Africa, which are currently operating in a development phase in the global vitamin C industry. Hence, these provinces have limited infrastructures, plants, production facilities, and technological capacities to manufacture vitamin C. Also, these countries primarily depend on other nations to conduct import activities to fulfill their vitamin C goods demands and encounter elevated costs and supply chain susceptibilities.

Key Suppliers in the Vitamin C Market:

The worldwide vitamin C industry evolved as extremely competitive due to the existence of both domestic and international organizations which include CSPC Pharmaceutical Group, DSM Nutritional Products Ltd​, Anhui Tiger Biotech, Amoli Organics​, and Northeast Pharmaceutical Group​. These key players conduct several expansion methods for their businesses like new launches, clinical experiments, investments, partnerships, etc.

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