For the Quarter Ending June 2025
North America
• The Price Index for Vitamin C in the USA continued its downward trajectory in July 2025, following persistent bearish pressure from oversupplied global markets and soft domestic buying sentiment.
• The Spot Price of Vitamin C (CFR Los Angeles) was assessed at USD 2780/MT during the second half of July 2025, down from USD 2850/MT in June, reflecting weak transactional volumes and low offtake from downstream sectors.
• The Price Forecast for August 2025 indicates a continued downward bias for Vitamin C in North America, driven by expectations of ongoing destocking, minimal restocking activity, and aggressive export offers from Asian producers.
• The Production Cost Trend for Vitamin C remained relatively stable, but the competitive undercutting by Chinese suppliers eroded market pricing, as US importers capitalized on cost-effective procurement from APAC.
• The Demand Outlook for Vitamin C in the USA was subdued in July 2025, especially across the pharmaceutical and food sectors, with buyers remaining cautious amid high inventories and ample stock availability from earlier purchases.
• Why did the price of Vitamin C change in July 2025? The price declined due to increased availability of low-cost imports from China, high domestic stock levels, and soft downstream demand, all contributing to weaker spot transactions and downward pressure on the market.
Europe
• The Price Index for Vitamin C USP CFR Hamburg (Germany) indicated a continued downward trend in July 2025, as prices declined from USD 2796/MT in June due to sustained bearish market sentiment.
• The Spot Price of Vitamin C in Germany fell in July 2025 under pressure from aggressive price reductions by Chinese exporters and weak offtake from domestic buyers amid ongoing inventory liquidation efforts.
• The Price Forecast for Vitamin C in Germany suggests persistent softness through the coming weeks, as buyers adopt a wait-and-see approach and market players anticipate further downside potential from oversupply.
• The Production Cost Trend remained relatively stable, but import costs decreased as Chinese suppliers, facing surplus and slow domestic consumption, lowered export offers; this pressured German prices despite minor fluctuations in freight charges.
• The Demand Outlook for Vitamin C in Germany remained weak in July 2025, impacted by restrained consumption from downstream sectors such as food, pharma, and nutraceuticals, along with continued industrial slowdown and subdued restocking behavior.
• Why did the price of Vitamin C change in July 2025? The price declined due to persistently high inventory levels, reduced offers from Chinese exporters, sluggish demand from downstream sectors, and cautious procurement by German buyers, all contributing to a bearish pricing environment.
APAC
• The Price Index for Vitamin C USP FOB Shanghai (China) reflected a continued downward trajectory in July 2025, as assessed prices fell below the June 2025 level of USD 2600/MT, driven by multiple supply-side and demand-side pressures.
• The Spot Price of Vitamin C in China declined sharply in July amid persistent market weakness, with prices falling week-on-week due to export demand contraction, especially from key markets like the US and EU, and oversupply stemming from high production rates.
• The Price Forecast for the coming weeks indicates sustained bearish sentiment, as Chinese manufacturers continue aggressive price discounting to manage elevated inventories and sluggish offtake across both domestic and overseas channels.
• The Production Cost Trend remained soft in July, with falling prices of key raw materials like Acetone reducing manufacturing expenses. This cost advantage enabled Chinese suppliers to lower prices further, contributing to the observed market correction.
• The Demand Outlook weakened further in July, as international buyers exercised caution amid rising freight costs and currency volatility. Meanwhile, domestic consumption remained tepid due to economic slowdown and deflationary pressures, further weighing on overall Vitamin C procurement activity.
• Why did the price of Vitamin C decline in China during July 2025? The price fell due to declining production costs, a sharp drop in export demand, rising domestic inventories, and reduced competitiveness of Chinese cargoes in overseas markets due to higher freight charges and currency-related export cost pressures.
For the Quarter Ending March 2025
North America
In early January 2025, the U.S. Vitamin C market began rebounding after a bearish December. Prices initially surged by 0.43%, settling at approximately USD 4,660 per metric ton CFR Los Angeles at the start of January, driven by robust demand from pharmaceutical and nutraceutical sectors amid post-holiday replenishment. Despite ongoing disruptions at major Chinese production hubs during Lunar New Year, early trading-maintained stability, and by the end of January, reflecting cautious optimism from U.S. importers who managed to secure sufficient inventory despite anticipated delays.
In February, improved market conditions and a gradual resumption of Chinese operations initially supported further price increases. However, as freight costs began to ease and increased global competition lowered import expenses, U.S. buyers started adjusting their procurement strategies. By the end of February, mounting inventory levels combined with subdued demand led to the first signs of pressure, with market prices beginning to trend downward.
The downturn accelerated in March, as persistent oversupply and declining freight rates, coupled with cautious purchasing amid tariff uncertainties, significantly weakened demand from key downstream sectors. Price declines became more pronounced, with U.S. Vitamin C values dropping sharply throughout the month. This sustained downward trajectory underscores a market shifting from post-holiday recovery to a more cautious environment dominated by ample supply and reduced consumption.
Asia Pacific
Vitamin C prices in China showed a significant shift in momentum across the first quarter of 2025. January began with firm pricing, supported by higher manufacturing costs and steady international demand. Prices reached $3,815 per MT FOB Shanghai by the end of the month, as manufacturers paused operations for the Lunar New Year and buyers moved to secure supply in advance. However, the bullish sentiment proved short-lived.
In February, production fully resumed across major facilities, and the market saw brief support from post-holiday inquiries. Yet by late February, a clear downtrend emerged. Oversupply, falling input costs—particularly hydrochloric acid—and subdued global buying pressure weighed heavily on the market. Export activity slowed, and domestic demand from nutraceutical and pharmaceutical sectors weakened, leading prices to decline steadily through March.
By the end of Q1, Vitamin C prices had dropped sharply. Suppliers struggled with excess inventories and resorted to price reductions to stimulate movement. The combination of strong supply, weak demand, and macroeconomic pressures—including deflationary trends and tariff concerns—firmly shifted the market into bearish territory.
Europe
In Q1 2025, the European Vitamin C market, particularly in Germany, experienced a dynamic pricing trajectory, marked by initial strength followed by a pronounced downturn. January began with firm import prices, as German buyers absorbed higher global production costs and sustained domestic demand. The temporary production halt in China due to the Lunar New Year had limited impact, as German importers maintained sufficient inventories, ensuring uninterrupted supply and market stability.
Entering February, prices peaked amid strong post-holiday demand, logistical cost pressures, and optimism across nutraceutical and pharmaceutical sectors. However, by late February, the market reversed course. A steep drop in Chinese export prices, coupled with oversupply in Germany, triggered a synchronized downturn across both regions. This shift exposed Europe’s dependency on Chinese pricing dynamics.
Throughout March, the bearish trend deepened. Prices slid by month-end. High inventories, cautious procurement, and weakening downstream demand—exacerbated by inflationary concerns and industrial slowdown—further suppressed pricing. By quarter-end, the market faced structural oversupply and margin pressures, prompting stakeholders to reassess sourcing strategies. The German Vitamin C market closed Q1 in a decisively bearish posture.
For the Quarter Ending December 2024
North America
During quarter 4 of 2024, Vitamin C prices in North America displayed a considerable price increase of around 4% across the entire quarter. Values rose from $4,500 per MT in October to $4,665 per MT CFR Los Angeles in December 2024, exhibiting a positive momentum throughout the last quarter. The price dynamics emerged from several market factors. Enhanced and sustained demand from downstream F&B, pharmaceutical and nutraceutical industries supported higher prices throughout the quarter.
Port infrastructure improvements and reduced logistics constraints supported price appreciation. Market participants maintained high TEU volumes, with December bringing further market momentum as domestic suppliers implemented strategic pricing initiatives amid inventory handling before the Christmas holiday. Export prices firmed up in the US market.
The market followed robust seasonal trends as the year 2024 concluded. Sustained end-user demand persisted throughout the quarter, especially in pharmaceutical and nutraceutical applications. This combination created a complex environment where supply chain stabilization and increasing demand drove prices higher.
APAC
In Q4 2024, Vitamin C prices in China demonstrated remarkable market dynamics, experiencing a substantial price increase of around 5% from $3,600 per MT in October to $3,775 per MT FOB Shanghai in December 2024. The quarter was characterized by complex market interactions, beginning with the Chinese Golden Week holiday, which initially paused market activities but subsequently triggered strategic procurement approaches.
Manufacturers capitalized on limited inventories, improving freight rates and escalating demand from Western markets. The region witnessed sophisticated supply chain strategies, with companies implementing nuanced inventory management techniques. International buyers displayed proactive procurement behaviors, compelling Chinese manufacturers and suppliers to strategically ramp up production and adjust pricing strategies in response to escalating global demand.
December marked a pivotal transformation, with systematic inventory expansion and suppliers strategically positioning themselves for emerging market opportunities including the Christmas holiday. Demand fundamentals remained overall robust, characterized by sustained and diversified procurement patterns across domestic and international channels. The price trajectory reflected the APAC region's adaptive and responsive market ecosystem, creating unique market engagement opportunities for stakeholders.
Europe
In Q4 2024, Vitamin C import prices in Germany demonstrated a significant upward trajectory, rising by more than 4% from $4090 per MT in October to $4,255 per MT CFR Hamburg in December 2024. The quarter was distinguished by complex market dynamics, driven by surging local demand, extended delivery timelines from Asian suppliers, and increasingly favorable market conditions.
November witnessed continued price appreciation, propelled by robust global end-user demand that compelled German buyers to procure at progressively higher costs. The constrained market environment empowered merchants to implement strategic price increases, maintaining substantially stronger profit margins compared to previous periods.
December brought further price escalation, characterized by European distributors' aggressive pursuit of additional supplies and international exporters maintaining competitive pricing strategies. The market environment demonstrated remarkable resilience, with sophisticated supply chain interactions creating a dynamic, growth-oriented landscape that balanced complex procurement challenges with strategic market opportunities.
For the Quarter Ending September 2024
North America
The Vitamin C market in North America demonstrated notable momentum during Q3 2024, with the United States manifesting as the key center of market fluctuations. Price negotiations appreciated from $4,240/MT to $4,380/MT CFR Los Angeles throughout July to September 2024. This market evolution reflects an intricate interplay of industry variables and broader economic indicators.
Enhanced consumption patterns from domestic food & beverage, pharmaceutical, and personal care industries emerged as principal market drivers, while logistical impediments created supply-side pressures. The market exhibited exceptional adaptability despite facing multiple operational challenges, including maritime congestion, heightened shipping expenses, and ongoing distribution network disruptions. The situation was further intensified by price fluctuations in China's market, a dominant Vitamin C supplier, generating cascading effects across the American consumer goods sector.
The steady price strengthening, marked by a $140/MT gain across the quarter, reflects robust market fundamentals and sustained developmental impetus. This trajectory resonates with broader regional patterns, demonstrating the North American Vitamin C market's inherent stability despite ongoing supply chain impediments. The synthesis of amplified regional demand, worldwide supply mechanics, and logistical hurdles has engineered a sophisticated yet fundamentally robust pricing landscape.
APAC
The Vitamin C landscape in Asia-Pacific exhibited remarkable pricing dynamics in Q3 2024, marked by a distinctive upward movement. In China, despite a slight decline of 3% from the previous quarter, prices rebounded by 3% in the second half of Q3, maintaining its position as a regional price benchmark. The market demonstrated notable price progression, with export valuations advancing from $3,360/MT to $3,515/MT FOB Shanghai between July and September 2024.
This market strengthening was supported by diverse operational factors and market fundamentals. Demand dynamics were characterized by consistent procurement from food fortification and beverage sectors, while supply elements were influenced by mounting production expenditures, including raw material costs and operational overheads. The confluence of increased production capacity and logistical constraints, especially port bottlenecks, generated supply-demand disparities supporting price appreciation.
Market resilience was evidenced through sustained buyer engagement and consistent order patterns. These demand indicators, combined with operational hurdles including freight expenses and supply chain intricacies, enabled industry participants to sustain healthy margins. China's domestic market remained instrumental in establishing regional price trends, influenced by both international procurement patterns and domestic consumption dynamics. The relationship between production capabilities and logistical impediments reinforced the market's upward trajectory.
Europe
The European Vitamin C landscape exhibited notable price movements during Q3 2024, with Germany functioning as the primary indicator of market dynamics. September prices reached USD 3,985/MT CFR Hamburg, reflecting broader market conditions. Market appreciation in the German Vitamin C market stemmed from interconnected supply limitations and demand forces. Manufacturing constraints, particularly in Asian production centers, created availability pressures influencing price levels. This was reinforced by sustained demand from food processing, beverage manufacturers, and cosmetic sectors maintaining consistent procurement activities.
Germany's market trends served as a bellwether for European pricing dynamics, exhibiting clear seasonal patterns and price correlations. Despite operational challenges, the market maintained its upward trajectory, underlining the European Vitamin C market's fundamental stability. The convergence of supply restrictions, sectoral demand patterns, and regional market forces cultivated a constructive pricing environment, characterized by sustained development and market equilibrium across Europe.
FAQ’s
1. Why did the price of Vitamin C USP FOB Shanghai (China) decline in July 2025?
The price of Vitamin C in China declined due to weak export demand, particularly from the US and EU, high production rates leading to oversupply, and softening production costs. Additionally, persistent inventory pressure and aggressive pricing strategies by Chinese manufacturers pushed spot prices lower.
2. What caused Vitamin C USP prices in Germany (Europe) to remain stable in July 2025 despite global weakness?
Vitamin C prices in Germany held steady due to moderate restocking from the food and pharma industries, limited imports from Asia, and consistent demand across nutraceutical segments. Stable inventories and balanced supply-demand conditions supported price stability in the region.
3. Why did Vitamin C USP prices in the USA (North America) decline in July 2025?
Prices in the US decreased as importers leveraged falling Chinese spot prices, resulting in lower CFR values. Moreover, sluggish downstream demand and high domestic inventories contributed to softer procurement, placing downward pressure on the market.
4. What is the demand outlook for Vitamin C USP in the APAC region?
The demand outlook for Vitamin C in APAC remains subdued, especially in China, due to economic uncertainty and weak domestic consumption. Export volumes are under pressure as buyers delay purchases in anticipation of further price corrections.
5. What is the expected trend for Vitamin C USP prices in North America and Europe for August 2025?
Prices in North America are expected to remain under pressure due to continued influx of low-cost Chinese cargoes. In Europe, prices are anticipated to stay range-bound, supported by stable demand and controlled inventory positions, barring any surge in freight costs or regulatory changes.
