Global Market Insights, Inc. has announced the launch of ethyl ascorbic
acid market, a comprehensive study enumerating the latest price trends
and pivotal drivers rendering a positive impact on the industry
landscape. Further, the report is inclusive of the competitive terrain
of this vertical in addition to the market share analysis and the
contribution of the prominent contenders toward the overall industry.
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Ethyl Ascorbic Acid Market size is mainly driven by growing concern
about physical appearance coupled with development of skincare. Ethyl
ascorbic acid or 3-O-ethyl-L-ascorbic acid is a stable derivative of
ascorbic acid. It offers the benefits of vitamin C to the skin and helps
in reducing skin darkening caused by excessive exposure to ultraviolet
rays. Owing to anti-tanning properties, it also finds applications in
sunscreen products.
The organic skin care market is expected to grow at a CAGR of over 18%
over the forecast timeframe. Inclination towards organic products in
European countries is expected to fuel ethyl ascorbic acid market
growth. Additionally, growth in the consumption of skincare products in
countries, like Germany, France, and the UK, is expected to further
escalate the Europe ethyl ascorbic acid industry.
The structure of the acid is relatively stable when compared to vitamin C
as ethyl group forms an ether with the 3-hydroxy(OH) group of ascorbic
acids. Other derivatives of ascorbic acid, such as ethers at
2-hydroxy(OH) place, can be commercialized. It enhances the skin tone
and has a whitening effect; hence, it is used as an active ingredient in
skin whitening products. A rise in demand for cosmetic products will
drive the ethyl ascorbic acid market demand.
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The global skin care market size was estimated to be USD 115 billion in
2015 and will be worth about USD 190 billion by 2024. An increase in
spending power coupled with awareness about the skin care products in
Asian nations will enhance ethyl ascorbic acid market demand.
Consumption growth of personal care products with increasing
applications will drive ethyl ascorbic acid market growth. The product
is more beneficial than the natural vitamin C and excessive application
does not cause harm to the skin. Its content in personal care products
ranges between 0.5% to 10%.Growth in the consumption of skin whitening
products is trending in Asian countries such as India and China. The
skin care industry in India is expected to grow at a CAGR 30% by 2024
owing to the desire for fair skin. Growth in domestic skin care and
cosmetic industries will further drive ethyl ascorbic acid market
growth.
Topical application of the product may cause side effects on the skin,
such as peeling, loosening, and allergy, due to forceful rubbing of the
product leading to lymph secretion in the upper layer of the skin. This
may act as a challenge to the market growth. Also, the presence of
imitation products may act as a restraint to ethyl ascorbic acid market
growth.
Some of the key industry players of ethyl ascorbic acid market are
Yantai Aurora Chemical Co., Ltd., Parchem Fine & Specialty
Chemicals, Vantage Specialty Ingredients, Gfn-Selco, BulkActives, DSM
Nutritional Products AG, M.C.Biotec, Inc., GREAF, Gonmisol, Rhino
Linings Corporation, and Nippon Fine Chemicals.
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