Ascorbyl phosphate is a synthetic form of ascorbic acid (vitamin C). It is found in several forms including sodium ascorbyl phosphate, magnesium ascorbyl phosphate, and isopropyl ascorbyl phosphate. These forms of ascorbyl phosphate are frequently found in cosmetics. Ascorbic acid is susceptible to a breakdown which results in the loss of efficacy which is why it is formulated in cosmetic products as ascorbyl phosphate. It acts as an antioxidant, and is easily absorbed by the skin, and helps in skin brightening. ascorbyl phosphate is also well-known for its free radical scavenging properties and collagen synthesis for the skin.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that first emerged in late December in the Hubei province of the Wuhan city in China. The virus that causes severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from person to person. Since the outbreak in December 2019, the disease has spread to almost 213 countries across the globe with the World Health Organization declaring it a pandemic on March 11, 2020.
Pharmaceutical and biotech companies together with the governments around the globe are working to address the COVID-19 outbreak, from vaccines development to medicine supply chain planning. Approximately 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a significant increase in demand for the treatment of COVID-19. Such increase in demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are experiencing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for COVID-19 vaccines and treatment drugs.
The COVID-19 has disrupted the supply chain of the raw material required to manufacture ascorbyl phosphate in many countries. Furthermore, the pharmaceuticals market growth is also declining as the drug manufacturers have slowed down their production because of the pandemic. This, is expected to have a significant impact on the ascorbyl phosphate market.
Top Impacting Factors
People all over the globe have increased their desire for better skin quality. This is one of the major factors driving the growth of the ascorbyl phosphate market.
Furthermore, ascorbyl phosphate has fewer side effects as compared to other skincare ingredients such as retinoids, alpha-hydroxy acids, and beta-hydroxy acids. Ascorbyl phosphate can also boost the collagen synthesis which helps in anti-aging.
Ascorbyl phosphate along with sunscreen provides better sun protection and inhibit free radicals. These properties of ascorbyl phosphate are also contributing toward the growth of the market.
People with sensitive skin causes skin redness using ascorbyl phosphate. Some people may be allergic to ascorbyl phosphate. These factors are anticipated to impede the growth of the ascorbyl phosphate market.
Key Market Trends
Ascorbyl phosphate is now available in different forms including serums, creams, and mixing powders. Furthermore, the key manufacturers of these products are launching them in a variety of different concentrations of ascorbyl phosphate to meet the skincare needs of all skin types.
North America is expected to lead the growth of the ascorbyl phosphate market owing to increased awareness of skincare products and surge in demand for desired skin among people. A rise in the geriatric population in this region is also contributing to the market growth as older people are more susceptible to invest in anti-aging products containing ascorbyl phosphate.
The Asia-Pacific region is anticipated to emerge as a new player in the ascorbyl phosphate market. This is due to the increase in number of key players in this region. Furthermore, nations such as South Korea are leading the growth of the skincare market.
Key players of the global ascorbyl phosphate market are focused on mergers and collaborations with other players, especially those who are from the Asia-Pacific region attributable to the increase in demand for Asian skincare products in the market.
Key Benefits of the Report
- This study presents the analytical depiction of the ascorbyl phosphate industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the ascorbyl phosphate market share.
- The current market is quantitatively analyzed to highlight the growth scenario of the ascorbyl phosphate market.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis depending on competitive intensity and the competition that will take shape in the coming years.
Questions Answered in the Ascorbyl Phosphate Report
- Who are the leading market players active in the ascorbyl phosphate market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for ascorbyl phosphate in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the future projections that would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What is ascorbyl phosphate?
- What are the current and predicted trends of the market?
Ascorbyl Phosphate Market Report Highlights
| Aspects | Details |
 By Type |
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 By Form |
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 By Mode of Synthesis |
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 By Application |
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 By End User |
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 By Region |
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 Key Market Players | Showa Denko Group, Ultra Chemical, Inc., Trulux, Bioxera Pharma Pvt, CarboMer, Inc., Hubei Artec Biotechnology, Universal Preserve-A-Chem, Haihang Industry, LeBaronBrown Specialties LLC, Nikko Chemicals, Iknow Biotechnology |
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