For the Quarter Ending September 2025
North America
• In the United States, the Vitamin C Price Index fell 11.68% quarter-over-quarter in Q3 2025, reflecting oversupply and weak demand dynamics.
• The average Vitamin C price for the quarter was approximately USD 2739.67/MT, reflecting mid-range demand dynamics.
• Vitamin C Spot Price fluctuated amid imported supply inflows and domestic stockpiles, shaping the Price Index trajectory across regional markets.
• Vitamin C Price Forecast remains cautious as inventories normalize and demand fundamentals remain subdued, tempering upside potential and pricing confidence.
• Vitamin C Production Cost Trend faces pressure from higher raw material costs and intermittent logistics disruptions at key ports.
• Vitamin C Demand Outlook shows mixed signals with steady pharmaceutical uptake but overall seasonal softness reducing restocking urgency.
• Vitamin C Price Index reflected export-offer dynamics and freight rate movements across the US West Coast, shaping regional pricing.
• Vitamin C Spot Price sensitivity to tariff changes and currency moves remained a moderating factor for near-term price discovery.
Why did the price of Vitamin C change in September 2025 in North America?
• Supply/demand dynamics: ample imports from China pressured landed costs and softened domestic price signals notably.
• Cost pressures from raw materials and logistics contributed to downward price adjustments in the quarter.
• Market sentiment remained cautious due to high inventories and steady but unimpressive downstream demand throughout.
APAC
• In China, the Vitamin C Price Index fell 11.08% quarter-over-quarter in Q3 2025 due to oversupply from elevated plant runs.
• The average Vitamin C price for the quarter was approximately USD 2635/MT, reflecting mixed demand and inventory dynamics.
• Vitamin C Spot Price showed instability amid fluctuating demand from pharma and nutraceutical segments throughout.
• Vitamin C Price Forecast remains cautious as oversupply and slow export demand shape near-term pricing.
• Vitamin C Production Cost Trend mirrors feedstock volatility, with variable acetone and sorbitol inputs affecting margins.
• Vitamin C Demand Outlook is mixed, with domestic pharmaceutical orders steady but overseas demand cooling.
• Vitamin C Price Index signals softer market in APAC amid ample inventories and soft seasonal uptake.
• Vitamin C Spot Price volatility reflects logistics stability yet divergent regional buying patterns and restocking pace.
• Vitamin C Demand Outlook remains sensitive to regulatory cues and currency movements impacting cross-border trade.
Why did the price of Vitamin C change in September 2025 in APAC?
• Supply outpaced demand due to elevated plant runs and rising inventories across major Vitamin C hubs.
• Falling raw-material costs and stable feedstock inputs contributed to softer Spot Price and wider margin pressure.
• Weak overseas orders and cautious restocking cycles dampened demand, offsetting any potential seasonal uplift notable.
Europe
• In Germany, the Vitamin C Price Index fell by 10.39% quarter-over-quarter, reflecting ongoing bearish market conditions.
• The average Vitamin C price for the quarter was approximately USD 2739.33 per metric ton, reflecting mid-cycle pricing.
• Vitamin C Spot Price softened as regional inventories remained elevated and bulk demand showed limited appetite.
• Vitamin C Price Forecast suggests near-term stability but potential upside linked to restocking and end-use demand.
• Vitamin C Production Cost Trend remains sensitive to USD/EUR moves and feedstock costs, constraining upside potential.
• Vitamin C Demand Outlook remains cautious, with pharmaceuticals and nutraceuticals driving limited incremental buying in Europe.
• Vitamin C Price Index reflected cross-border cost pressures and currency moves impacting landed costs for German buyers.
• Vitamin C Spot Price volatility aligned with freight rate fluctuations and Asian export pricing dynamics.
• Vitamin C Production Cost Trend may ease if USD strengthens and freight costs decline into Q4 pricing.
Why did the price of Vitamin C change in September 2025 in Europe?
• Weak downstream demand and comfortable inventories constrained Vitamin C intake across pharmaceuticals and nutraceuticals in September 2025.
• Rising import costs from Asia and firmer freight rates supported higher landed costs despite currency moves.
• Seasonal timing and restocking patterns in Europe influenced buying activity, with Q4 pre-buying uncertainty notable.
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.
