2020 marked the year of pandemic COVID-19, which transformed the living standards of the individuals and also contributed to the enhancement of the health-conscious population. Vitamin C became a go-to pill or supplement for every person during the pandemic as it is ought to cure a common cold, sore throat, increase immunity and many more. However, the skincare industry showed a prominent increment in the use of Sodium Ascorbyl Phosphate in the products like serums, creams, moisturizers, lotions, mists etc.
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It is important to supplement of vitamin C, when the body can’t produce naturally. Instead, vitamin C produced from various citrus fruits, bell peppers and other numerous vegetables and fruits. Sodium Ascorbyl Phosphate is used to produce energy in cells, which helps to shield the body from harmful environments. This supplement has numerous benefits to the body, as the result many companies launching new products based on these chemicals with various concentrations in the market.
Sodium ascorbyl phosphate is a great ingredient for those who looking to combat dark spots or hyperpigmentation. It evens skin tone and has an anti-microbial effect which can be used to treat acne. It is having numerous uses in the healthcare industry. The demand is changing by many formulations in multiple industries in the market. Manufacturers are producing these chemicals for various treatments with different formulations by concerning the end-users.
Segmentation Analysis of Sodium Ascorbyl Phosphate Market
The global Sodium Ascorbyl Phosphate market is bifurcated into five major segments: product type, mode of synthesis, application, end-use, and region.
Based on product type, Sodium Ascorbyl Phosphate market has been segmented as follows:
- Serum and Ampoules
- Mist and Toner
Based on the mode of synthesis, Sodium Ascorbyl Phosphate market has been segmented as follows:
Based on application, Sodium Ascorbyl Phosphate market has been segmented as follows:
- Daily skincare
- Acne Treatment
- Skin whitening
Based on end-use, Sodium Ascorbyl Phosphate market has been segmented as follows:
- Personal care and wellness
- Food and Beverages
Based on geographic regions, Sodium Ascorbyl Phosphate market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Sodium Ascorbyl Phosphate Market: Regional Outlook
Out of the six prominent regions, including North America, Europe, Latin America, East Asia, South Asia & Oceania and the Middle East & Africa, North America alone witnessed the increase in sales of skincare products by 13% in 2018, this led to the expansion and new entrants in its skincare industry. The key players are putting more efforts in innovating the products by adding derivatives of vitamin C like Sodium Ascorbyl Phosphate.
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Both North America and the Asia pacific are the market leaders under the Sodium Ascorbyl Phosphate market. China, Japan, India and South Korea accounts to the hold the maximum shares in the world. Further, Europe and the Middle East are likely to expand the Sodium Ascorbyl Phosphate market because of the escalating spending income of the citizens and the emerging infrastructure facilities over the regions.
Sodium Ascorbyl Phosphate Market: Key Players
The skincare market being a highly fragmented one encourages both global and local players, in the case of Sodium Ascorbyl Phosphate Market, there are very few yet prominent players that garner the huge market share of the same. BASF, Haihang Industry, Nikko Chemicals, Universal Preserve-A-Chem, Iknow Biotechnology etc. are among the leading manufacturers and suppliers of Sodium Ascorbyl Phosphate. Players having well-established supply chains in the geographical regions, their historical achievements marketing the new products in all markets in the consumer markets.
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