Ascorbyl Palmitate Market Outlook
Ascorbyl Palmitate is a fat-soluble form of vitamin C. Ascorbyl Palmitate is an ester that is formed from palmitic acid and ascorbic acid, and is also known as Vitamin C Ester. Ascorbyl Palmitate is more stable than the water-soluble form of vitamin C, i.e., L Ascorbic Acid. Ascorbyl Palmitate has applications in various industries such as food, pharmaceutical, dietary supplement, animal feed, etc. It is used for the preparation of various personal care and cosmetic products such as lotions, sun-protection creams, shampoos, anti-aging products, etc. Ascorbyl Palmitate is also used as an antioxidant and preservative in fragrances, natural oils, edible oils, etc. as it protects color, prevents oxidation and improves the nutritional value of the product.
The Antioxidant Property of Ascorbyl Palmitate Increases its Demand in the Food Industry
Due to hectic lifestyle, increase in the number of working women, preference for convenience, etc. the demand for processed food is increasing all across the world. But the major concern for the manufacturers of food products is to maintain the quality and the nutritional value of the final product. The change in the single ingredient present in the product can spoil the quality of the entire product, and therefore, ascorbyl palmitate can be used as an antioxidant food additive that prevents the oxidation of the product and helps to maintain the nutritional value of the final product. Therefore, the increase in demand for processed food products is expected to have a positive impact on the ascorbyl palmitate market.
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In recent times, health and fitness trends have increased all across the world and consumers are taking more efforts to maintain a healthy and balanced lifestyle. In America, more than 70% of adults consume dietary supplements so as to maintain health. Many consider a dietary supplement to be vital for promoting better wellness. The rise in health awareness and an increase in the demand for dietary supplements is anticipated to serve as a driver for the ascorbyl palmitate market.
The presence of a variety of dietary supplements and preservatives is expected to serve as a restraint for the ascorbyl palmitate market. The companies are trying to develop innovative and healthy products according to the consumer requirement, and therefore, the consumers have a wide range of choice available. Therefore, the intense competition and the changing consumer preferences are expected to have a negative impact on the ascorbyl palmitate market.
Ascorbyl Palmitate Market Segmentation
The Ascorbyl Palmitate market can be segmented on the basis of form, grade, end use, and distribution channel:
On the basis of form, the Ascorbyl Palmitate market can be segmented as:
On the basis of grade, the Ascorbyl Palmitate market can be segmented as:
- Pharmaceutical Grade
- Food Grade
On the basis of end use, the Ascorbyl Palmitate market can be segmented as:
- Food and Beverage Industry
- Personal Care and Cosmetic Industry
- Dietary Supplement Industry
- Others (Pharmaceutical Industry, etc.)
On the basis of the distribution channel, the coconut cream market is segmented into-
- Direct Sales/B2B
- Indirect Sales/B2C
- Hypermarkets/ Supermarkets
- Convenience Stores
- Mass Grocery Retailers
- Specialty Stores
- Online Retailing
Ascorbyl Palmitate Market: Regional Analysis
Ascorbyl palmitate market is expected to grow at a high rate in the Asia Pacific region. The increase in urbanization, large population, and increase in population are some of the drivers for the growth of personal care and cosmetic industry in the Asia Pacific region. The increase in demand for cosmetic and personal care product is anticipated to have a positive impact on the ascorbyl palmitate market as it is used in the preparation of various cosmetic products. Also, the rising awareness among the population and the influence of social media are expected to serve as drivers for the increase in the demand for dietary supplements in the Asia Pacific, which is estimated to have a positive impact on the ascorbyl palmitate market.
Ascorbyl Palmitate Market: Key Participants
Some of the market participants in the Ascorbyl Palmitate market are:
- Koninklijke DSM N.V.
- Yasho Industries
- Pacific Rainbow International, Inc.
- Penta International Corporation
- Spectrum Chemical Mfg. Corp.
- A to Z Nutrition International Inc.
- NOW Foods
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