Vitamin C Price Trend and Forecast

Vitamin C 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 the Q3 of 2024

Asia

In the Asia market, the prices of vitamin C showed a fluctuating trend throughout the third quarter of 2024. Continuing the trend from the previous quarter, the prices started off stable in the early months. But, as the vitamins market faced supply disruptions, the prices turned slightly northwards.
 

Vitamin C Price Chart

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However, because of extended shutdowns Dominant Chinese producers continued to cite limited supply volumes. contributing to anticipated unpredictability in the market. The overall fluctuations remained range bound.

Europe

The prices of vitamin C, like all other vitamins, remained elevated in the European markets during the concerned time span. The European vitamin market was slightly turbulent after the fire accident at the BASF plant which forced the company to declare a Force Majeure till Jan’25. Since the plant was among the largest production units in the sector, the domestic supplies were hurdled. Therefore, the price underwent marginal upliftment in the European markets during the said time period as the gap between the supply and demand dynamics widened.

North America

In the American Vitamin C market, the price trajectory was not very different from the previous quarter. Prices were stable with a little upward bias. The European imports were affected due to unforeseen supply challenges; however, the Chinese suppliers were able to mitigate some of these concerns rendering a steady price curve for vitamin C. Concurrently, some logistical challenges also disrupted the supply and export markets in the region. The Canadian rail strike triggered the stoppage of the rail network in Canada, which affected the supply chains between Canada and USA. Overall, mixed market sentiments were witnessed.

Analyst Insight

According to Procurement Resource, the prices of vitamin C are expected to remain stable in the upcoming quarter. The winter months can pose some logistical challenges; however, the price trajectory will likely be steady with some regional fluctuations.
 

Vitamin C Price Trend for the Q2 of 2024

Asia

Throughout the second quarter of the year 2024, the Vitamin C market exhibited a moderate pricing trajectory. The supply concerns of the previous months improved over the course of the given duration. The production costs were also under check. Overall, the supply side was sorted for the majority of Q2’24 in regard to Vitamin C. As far as the demand dynamic is concerned, the performance was above average since Vitamin C has been one of the most commonly consumed supplements for its low cost and high benefits, and as the summer season arrived, the demands escalated further.

In the Chinese markets, this uptick in demand led to an increase in profit margins as well. Despite these improvements, the regional market remained consolidated because of the tepid offshore orders. Overall, a balanced market run was witnessed for Vitamin C.

Europe

The European Vitamin C market was relatively more confined in comparison with the Asian markets. After an impactful first quarter, the price performance took a slight dip this time around. This was also influenced by the sluggishness in the agriculture sector. The corn and corn starch prices declined globally, affecting the Vitamin C prices as well. The healthcare sector offered positive demands; however, a dull upstream outlook succeeded in keeping the Vitamin C market balanced.

North America

The American Vitamin C market could not tilt any differently than the global price curve. The rise in shipping and freight costs over the past few months limited the international trade opportunities for commodities. Concurrently, a dip in crude oil prices also showed its effects. A hike in Vitamin C consumption in high heat waves offered some respite to the suppliers. As a result, the market sentiments largely remained positive for the most part.

Analyst Insight

According to Procurement Resource, the Vitamin C prices are expected to fluctuate in a similar manner in the coming times; the supply spectrum appears well balanced.
 

Vitamin C Price Trend for the Q1 of 2024

Asia

Throughout the first quarter of 2024, the vitamin C market in Asia depicted a favorable pricing trend. Global disruptions in the supply chain, spanning transportation and logistics, contributed to shortages in both raw materials and finished products, thereby constraining supply.

Along with this, heightened demand for vitamin C supplements emerged, driven by the increasing awareness of vitamin C’s role in maintaining and boosting good immunity, particularly in the aftermath of the COVID-19 pandemic. Similar variations were seen in the Indian market as well, with the nutraceutical sector experiencing growth amid heightened awareness surrounding health and immunity. Additionally, escalated energy and processing costs in the region further influenced market dynamics.

Europe

Throughout the first quarter of 2024, the Vitamin C market in Europe witnessed a notable rise in price trends. The prevailing economic uncertainties and intricate supply chain curb user enthusiasm were there since health emerged as a priority sector. It drove increased consumer expenditure. Additionally, the upstream feedstock prices were also providing valuable support to the pricing fundamentals.

A significant incline in the prices of agricultural products in the region uplifted the production costs for the market already struggling with heightened energy and crude oil costs. The import dependence of the European markets also played a role in escalating the market rates. Conclusively, an upward-wavering price trend was witnessed in Q1’24.

North America

The American vitamin C market also resembled the global trends in Asian and European markets. The challenges that the global economies were facing with rising shipping costs and curtailed supply chains were even more profound for the American suppliers since global trade is still largely dictated by the US Dollar. The vitamin C market was also seeing a rise in demand along with all these pushing issues. Thus, the market witnessed confined upticks throughout the given span. The market sentiments were largely optimistic.

Analyst Insight

According to Procurement Resource, given the current macroeconomic and demand indicators, the Vitamin C market appears to be growing well in the coming months as well.
 

Vitamin C Price Trend for October - December of 2023

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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.

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.