Global Folic Acid Market

Folic Acid Market Overview

The global folic acid market size at USD 876.5 million in 2021 is expected to reach USD 1182.01 million by 2028, with a growing CAGR of 5.7% from 2022-to 2028. The growth rate seen by the Food Grade segment is attributed to the ongoing growth of the food & beverage industry, raising awareness about the nutritional significance of Vitamin B9 and increasing demand for cereal-based foods, wherein this vitamin in food grade is used for food fortification of meal replacements and cereal-based foods these are the element that is continuously growing the demand of the folic acid market.

What is Folic Acid?

Folic acid is the natural state of vitamin B9, water-soluble and naturally discovered in many foodstuffs. It is also added to foods and marketed as a supplement in the form of folic acid; this form is better soaked than that from food sources—85% vs. 50%, respectively. Folic acid satisfies to form DNA and RNA and is impacted in protein metabolism. It plays an essential role in splitting down homocysteine, an amino acid that can exert deadly effects in the body if present in increased amounts. Folic acid is also needed to deliver healthy red blood cells and is critical during periods of fast growth, such as during pregnancy and fetal growth.

Growth Drivers

Growing Need for Prenatal Vitamin Supplements

Vitamins are one of the essential nutrients for women, particularly vitamin B12, vitamin B9, and vitamin D, which are extremely important to keep the growth of the baby’s nervous system (B12) and skeleton (D) since good nutrition and diet is vital in pregnancy to help them deliver healthy infants. It, in turn, increases the folic acid market, owing to the primary usage of folic acid in prenatal supplements. Nearly all obstetricians in the United States suggest prenatal vitamins to pregnant women to help healthy growth and minimize congenital disabilities. An investigation by the UC Davis MIND Institute had claimed that “women who recorded not taking daily prenatal directly before and during the first month of pregnancy, were probable to have a child with an autism spectrum condition, twice the rate as that of women who takes the supplements.

Opportunities

New product establishes to Increase the market.

The establishment of new products with improved grades in the product portfolio is anticipated to boost the demand for these products. Owing to consumers’ patterns and choices, the key market players are introducing new variants keeping brand loyalty as the priority. They are growing their customer base and diversifying their businesses. The wide application of folic acid in the food & beverages enterprise and pharmaceutical industry is due to its nutritional value. It is also utilized in the beauty sector due to its advantageous chemical properties. Thus it is suitable for preparing certain cosmetics as it provides a natural glow and a healthier look to the skin. An increase in the tendency of people towards veganism is leading to the introduction of new products in the portfolio of the vegan food industry, hence contributing to boosting the growth of the folic acid market. The market players have recognized this fact as a feasible methodology in extending their global footprint.

Restraints

It is Incredibly Rare to Reach a Toxic Level when Eating Folic Acid from Food Sources.

However, an upper level for folic acid is set at 1,000 mcg daily because studies have shown that carrying higher amounts can mask a vitamin B12 deficiency. This deficit occurs most often in older adults or those eating a vegan diet in whom a B12 deficiency is more common. Both folic acid and B12 are implicated in making red blood cells, and a deficiency of either can result in anemia. An individual taking high-dosage supplements of folic acid may be capable of correcting the anemia and feeling better, but the B12 deficiency still exists. If high folic acid intake continues to “hide” the symptoms of B12 deficiency for a long time, slowly but irreversible harm to the brain and nervous system may appear. If you choose to use a folic acid supplement, stick with the lower range of 400 mcg a day or less.

Pre Covid-19 Impact on Global Folic Acid Market

Before the covid-19 period, improvements in the foodservice and processing industry were significant aspects anticipated to create lucrative growth prospects for the key layers operating in the target sector before the pandemic. The demand for nutritional food products and rising attention for healthy food has led to advancements in the foodservice and processing industry, creating opportunities for folic acid market players worldwide. Hence the demand for folic acid in the food industry will increase before the pandemic and make growth prospects for the key players in the target sector.

Covid-19 Impact on Global Folic Acid Market

During the covid-19 period, the pandemic has affected most global critical markets. Covid-19 has had a low impact on the folate market. Due to covid-19, supply chain disturbance, fluctuations in the raw material supply, insufficient manpower in the manufacturing facility and low demand from the end-use customers hindered target industry growth in the developed and emerging economies worldwide.

Post Covid-19 Impact on Global Folic Acid Market

After the covid-19 period, due to the covid-19 outburst, the adoption of immunity supplements has been expanded. Also, the decrease in meat seafood consumption rate across the globe fueled the inclination for a vitamin supplement, thereby increasing demand for folic acids. Pharmaceutical and biotech companies are performing with governments to address the covid-19 outbreak, from supporting the development of vaccines to planning for medications supply chain challenges. The key firms are now aiming towards business growth by executing strategies like capacity expansion, creative product launches and heavy investments in their production structures that are expected to flourish the global folate market growth soon.

By Form Segmental Analysis

Based on form, the global folic acid market is segmented into Tablets, Soft Gels, Lozenges and others. The Tablets segment carried the largest market share during the forecast period. Comfortably availability of this vitamin in tablet form, wherein a vast product range is available for over-the-counter folic acid tablets, and the fact that this vitamin is normally prescribed in tablet form for adults in the healthcare sector donates to the market share held by this segment.

By Source Segmental Analysis

Based on the source, the global folic acid market is segmented into Vegetables, Fruits and others. Folic acid is commonly seen in dark green and leafy vegetables such as spinach, asparagus, romaine lettuces, turnip greens, dried or fresh beans and peas, etc. Vegetables are a vital element of the daily diet. They are rich in protein, fats, and essential nutrients good for health.

By Application Segmental Analysis

Based on application, the global folic acid market is segmented into Food & Beverages, Pharmaceuticals, Nutraceuticals and others. Folic acid is mostly used in nutritional therapy to treat the pharmaceutical sector’s nervous system urinary and cardiovascular system diseases. Folic acid produces supplementary vitamin tablets, powders, and cosmetics in the nutraceutical industry. It is broadly used as a skin-care product for pregnant women in the cosmetics sector.

By Regional Segmental Analysis

Based on region, the global folic acid market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. The Asia Pacific was the most dominant regional market and held the highest share in the global folic acid market. The therapeutic and medical sectors are the main cash cow of the region. The Asia-Pacific continually has a huge investment in product invention and R&D establishments. An increased manufacturing base in the area and the implementation of advanced technologies and expertise are expected to trigger regional growth over the coming years.

Competitors Analysis

The companies include BASF SE, Zydus Pharmaceuticals Ltd., Medicament Biotech Ltd., jiangxinTianxin Pharmaceuticals Ltd., DSM N.V., Emcure Pharmaceuticals Ltd., Nantong Changhai Food Additive and other prominent players in the global folic acid market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global Folic Acid Manufacturing Firms
• Local Governments
• Regulatory bodies
• Suppliers
• Retailers

Recent Developments

In September 2016- Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd. declared their plans to create a folic acid manufacturing plant with 100 tons per annum in the Xinjiang Uygur Autonomous Region.

Scope of the Report

Report Attribute	Details
Revenue in 2021	USD 160.66 Billion
The revenue forecast in 2028	USD 210.77 Billion
Growth Rate	CAGR of 3.95 % from 2022 to 2028.
Historical data	2017 – 2020
Base Year	2021
Forecast period	2022 – 2028
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	The companies BASF SE, Zydus Pharmaceuticals Ltd., Medicament Biotech Ltd., jiangxinTianxin Pharmaceuticals Ltd., DSM N.V., Emcure Pharmaceuticals Ltd., Nantong Changhai Food Additive, are the key players.

Market Modelling

By Form

• Tablets
• Soft Gels
• Lozenges
• Others

By Source

• Vegetables
• Fruits
• Others

By Application

• Food & Beverages
• Pharmaceutical
• Nutraceuticals
• Others

By Region

• North America
• Europe
• Asia Pacific
• South America
• The Middle East & Africa

India Textile and Apparel Export Market

Global Heat Sealing Equipment Market

Air Quality Control System Market

3D Concrete Printing Market

Milking Hose Market

Continuous Positive Airway Pressure Devices Market

Figure Skating Equipment Market

Global Supercapacitor Market

Passenger Car Radiator Market