The consumption of folic acid is estimated to witness a rapid growth over the forecast period owing to its high medicinal value. The folic acid market holds several vital factors such as increasing health consciousness coupled with growing awareness level regarding the significance of folic acid for maintaining good health. This is indeed supporting the growth of folic acid market.
At a compound annual growth rate of 6%, the size of the worldwide Folic Acid market is projected to reach USD 1,481.05 million in 2030.
Folic acid has been promoted by various health agencies such as U.S. Public Health Service and CDC recommended that every individual women of childbearing age should compulsorily consume 0.4 mg (400 micrograms) of folic acid on daily basis for prevention of serious birth defects in child.
The global folic acid market is divided on the basis of application and geography. On the basis of an application, the market is segmented into nutraceuticals, food & beverage and others. Due to the wide usage in the nutrition therapy, pharmaceutical application of folic acid is expected to drive the high demand in the market. Folic acid is believed to be one of the most essential nutrient which can be commonly seen in leafy vegetables, broccoli, corn, cereal, oranges, peas, and green meats. It is highly beneficial in treating urinary, cardiovascular system disorders, nervous system, and many more.
Folic acid is also known as vitamin B9 and it also plays a vital role in supporting fetal development preventing the risk of birth defects. It also benefits in improving cardiovascular system, thereby lessen the risk of high cholesterol level, heart attack, and provides neurological support.
Geographically, folic acid market is primarily segmented into region such as Middle East and Africa, Western Europe, North America, Japan, Asia-Pacific, and Latin America. Asia Pacific is estimated to witness a major share in the folic acid market during the current period. Due to the high market share of Asia Pacific region, the market is experiencing the same demand from China, India, and Japan. North America is expected to be second largest market share all over the globe during the forecast period resulting to the efficient consumption of folic acid due to the high health benefits.
Leading players in the global folic acid market include D SM N.V., Emcure Pharmaceuticals Ltd., Zydus Pharmaceutical Ltd., Medicamen Biotech Ltd., BA SF SE, Jiangi Tianxin Pharmaceuticals Co. Ltd., and more others.
Due to an increasing application in the pharmaceutical and nutraceuticals industries globally, folic acid is anticipated to be driven in the near future. The demand for folic acid is expected to escalate due to an increasing purchasing power of consumers along with their increasing preference for nutraceuticals and mineral-rich instant food products. The growth of the folic acid market might affect resulting the tightening pricing and supply hike in the coming years.
Key Segmentation of the global folic acid market
Application Outlook (Volume, Metric Tons; Revenue, USD Million)
• Food & beverages
Regional analysis for Folic Acid includes:
- North America
- Latin America
- Rest of LATAM
- Western Europe
- Rest of the Western Europe
- Eastern Europe
- Rest of the Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Australia and New Zealand (ANZ)
- Rest of APEJ
- The Middle East and Africa
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
What to expect from the upcoming report on ‘Global Folic Acid market’:
- Global Folic Acid analysis about future prospects as well as trends market over the forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing as well as developed economies.
- Supportive initiatives by government likely to influence the market dynamics.
- Key drivers influencing market’s growth, opportunities, restraints, sales channels and distributors.
- In-depth analysis of different market segmentations including regional segmentations, nature, applications and end-users.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.