Global Ascorbic Acid Market Report 2020: $1.3 Billion Market Trajectory 2012-2019 & Analytics 2020-2027 - ResearchAndMarkets.com
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Global Ascorbic Acid Market to Reach US$1.3 Billion by the Year 2027
Amid the COVID-19 crisis, the global market for Ascorbic Acid estimated at US$953.8 Million in the year 2020, is projected to reach a revised size of US$1.3 Billion by 2027, growing at a CAGR of 4.8% over the analysis period 2020-2027.
Pharmaceutical, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$434.1 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Food & Beverages segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 39.1% share of the global Ascorbic Acid market.