A Positive Gauge for Sodium Ascorbate Market in Q1 2023

Beginning of 2023, the Sodium Ascorbate market will experience an increased growth trajectory. The rising cost of upstream feed Vitamin C in several regions, such as China, Germany, and the United States, is attributed to the market sentiments.

China experienced a sudden surge in coronavirus cases just after a couple of weeks when the Xi-Jinping government relieved the stringent Zero Covid Policy. This, in turn, lemon farmers have been notified of an unexpected surge in their sales because people are running to purchase lemons to use as their home remedy for Covid cure. This, in turn, is keeping the prices of both upstream Ascorbic Acid and its downstream product, Sodium Ascorbate, on the upper end.  Besides that, the shortage of end-user products helps the participants raise their market prices within China's domestic market.

Higher input and energy have additionally impacted the production of Sodium Ascorbate across the region as higher demand and unavailability of upstream Vitamin C has soared both the operation and overall downstream cost of all the end products or supplements of Vitamin C, including Sodium Ascorbate. Since the start of the first half of q1 2023, the United States has witnessed an upsurge in the prices of Sodium Ascorbate as demand inclined considerably and the supplies with the merchants were not enough to meet surging necessities. Traders started to put newer quotations for Sodium Ascorbate in order to cope with the rolling demand within the region. However, due to cutbacks in production by Chinese suppliers who control overall about 70 percent to 90 percent of the market, the manufacturing activities and trade momentum of Sodium Ascorbate might get affected severely.

After witnessing this sharp decrement in the stocks of both upstream Ascorbic acid and its end products, including Sodium Ascorbate, the government of China is expected to increase the production of Vitamin C to meet up with the demand, which will also influence its prices within China and in the international market during the first quarter of 2023.