Ethyl Ascorbic Acid Market to witness high growth in the forecast period

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.

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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 pure form of ascorbic acid is unstable and is easily degraded, making it difficult to use in cosmetics products. Hence it is used with change of vitamin C, and enables the formation of this acid. This change in the chemical structure increases the stability of ascorbic acid. Additionally, this change also enables easy penetration of this product through skin. The topical application of these products on the skin helps in the restoration of the natural form of vitamin C.

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.

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In Latin America, an increase in applications scope in pharmaceutical industries shows growth opportunities for the product market. Increasing disposable income coupled with rise in consumption of pharmaceutical products are expected to drive ethyl ascorbic acid market demand.

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.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services