Health News: Vitamin C Industry Research Report (2024 Edition)

The global vitamin C industry has undergone nearly a century of development and changes, including revolutionary technological innovation, tumultuous competition, and a global game of monopoly and anti-monopoly.

After experiencing the "alliance monopoly" of international giants in the last century, revolutionary breakthroughs brought by China's two-step fermentation method, and multiple global price wars, entering the 21st century, the concentration of industries has rapidly increased and almost all have shifted to China.

Under the cycle of price fluctuations, with the gradual growth of global demand, the global VC production capacity, mainly in China, has gradually exceeded 100000 tons, 200000 tons, and 300000 tons in just over a decade. Since the outbreak of the COVID-19 pandemic in 2020, China's VC raw material exports have experienced significant growth, reaching a new level of 20 tons. Especially with a slight rebound in prices in 2021, the total export amount has reached a historic high of over 900 million US dollars. But with the release of new production capacity in the past three years, global VC prices have once again entered historic lows in 2023, and export amounts have decreased by more than 200 million US dollars. China's VC industry will once again face a severe test.

At present, Chinese and global vitamin C manufacturers have formed a competitive pattern of "2+4+5" in three tiers. In February 2024, DSM sold and transferred its 100% equity stake in Jiangshan to Jingjiang Fukes Health Technology Co., Ltd. In March, it officially changed to "Jiangsu Jiangshan Pharmaceutical Co., Ltd." The return and resumption of production of Jiangshan Pharmaceutical became an important focus of 2024.

At the end of June 2023: Based on a continuous evaluation of the company's operations and supply capacity, DSM Fenmeiyi has decided to seek other strategic operating methods for its Jiangshan factory that produces vitamin C. The company is evaluating the strategic possibility of finding a partner for the factory to ensure that resources and future investments can be focused on developing the production of applied raw materials that the company has a competitive advantage in. In addition, DSM Fenmeiyi has decided not to continue its production of vitamin B6 in its Spark production base in China. The company will continue to provide applied vitamin C and vitamin B6 through other regions.

In February 2024, DSM sold and transferred its 100% equity stake in Jiangshan to Jingjiang Fukes Health Technology Co., Ltd. In March, it officially changed to "Jiangsu Jiangshan Pharmaceutical Co., Ltd." The return of Jiangshan Pharmaceutical and the upcoming resumption of production have become important points of attention in the VC industry in 2024.