Future Market Insights research indicates that the global folate market would grow at a CAGR of 3.5% over the anticipated time frame. Forecasts indicate that instead of USD 789.3 Million in 2022, the market would be worth USD 1,113.4 Million in 2032.
Attributes
Details
The market size value in 2022
USD 789.3 Million
Market forecast value in 2032
USD 1,113.4 Million
Forecast period
2022 to 2032
Global growth rate (CAGR)
3.5%
The growth rate of Australia in the folate market
2.8%
Folate, commonly known as vitamin B9, is most commonly used to support a normal pregnancy and normal fetal growth. It is a manufactured folate molecule that is used in vitamin supplements and foods that have been fortified due to its greater stability. It plays a significant role in the treatment of anemia and is also frequently utilized in the pharmaceutical sector.
Numerous firms have announced their entry into the market, drawn in by the rising cost of folic acid. Most of the new firms that intend to enter the market have either submitted their environmental impact statement or acquired environmental clearance. Due to new beginnings, prices are starting to decline.
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Historical outlook vs future forecasts for the folate market
The market for folate was worth USD 680.8 million in 2017. The market for beef fat is anticipated to grow at a CAGR of 3.0% from 2017 to 2021. The market for folate products was worth USD 766.3 Million in 2021.
Consumers are becoming more health conscious, which is encouraging them to use items with folate as an ingredient. The rise in female fertility rates, particularly in the Asia-Pacific area, is another major factor driving the global market for folate. When consumed orally in high doses over an extended period of time, folic acid may be dangerous.
The market for folate is expected to rise during the time period of 2022 to 2032 at a CAGR of 3.5%.
Country wise insights
How USA holds the largest market share in the folate market?
According to estimates, America now has the greatest market share, followed by Europe and Asia-Pacific. In America, significant investments are commonly seen in Research and Development centers and new product development. Additionally, it is anticipated that during the projected period, regional growth would be sparked by the expansion of the region's manufacturing base and the use of cutting-edge technologies and knowledge. There was a considerable demand for folic acid materials in Europe. The strict guidelines on taking additional nutraceuticals and a healthy diet are to blame for the rising demand. Additionally, over the course of the forecast period, the European Union's favorable rules and changes are anticipated to fuel regional growth.
How demand for folate in the United Kingdom market has grown in recent years?
In recent years, the demand for folate in the United Kingdom market has grown significantly. This is due to the fact that more and more people are becoming aware of the importance of this nutrient for their health. Folate is a water-soluble vitamin that is found in leafy green vegetables, legumes, nuts, and seeds. It plays an important role in the production of red blood cells and the metabolism of amino acids.
Folate deficiency can lead to a number of health problems such as anemia, birth defects, and cognitive impairment. Supplementing with folate can help to prevent these conditions. The increased demand for folate supplements in the United Kingdom market is a positive trend as it indicates that more people are taking steps to protect their health.
How Asia pacific region is the fastest growing region for the folate market?
Due to the rising incidence of chronic diseases and increased recognition of the value of a healthy diet, the Asia Pacific area has the fastest expanding market for folate. A water-soluble vitamin called folate is present in leafy greens, legumes, nuts, and seeds. It is essential for the metabolism of homocysteine as well as the creation of DNA and RNA. Anemia, birth abnormalities, and neural tube problems can result from folate deficiency.
Some of the main reasons promoting the growth of the market under study are rising anemia prevalence, rising awareness of micronutrients, and rising demand for folic acid and folate supplements among pregnant women.
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Category wise insights
How Increase in the demand for prenatal vitamins triggering the growth of the folate market?
One of the most crucial nutrients for women is vitamins, including vitamin B12, vitamin B9, and vitamin D. These vitamins are especially necessary for the baby's nervous system (B12) and skeletal (D) development since balanced eating and nutrition throughout pregnancy are essential for women to have healthy kids. This feature raises the demand for folic acid due to the considerable use of folic acid in prenatal vitamins.
Prenatal vitamins are advised by all obstetricians in the USA to expectant mothers to support healthy growth and reduce birth abnormalities. According to a study by the UC Davis MIND Institute, women who admitted to skipping their daily prenatal vitamins right before and throughout the first month of pregnancy were twice as likely to give birth to a kid with autism spectrum disorder than those who took the supplements.
How neutraceuticals are helping the folate market to grow?
Neutraceuticals are a type of food that contains health-promoting and disease-preventing properties. They are becoming increasingly popular as people look for ways to improve their health without resorting to medication.
One area where nutraceuticals are having a significant impact is the folate market. Folate is a water-soluble vitamin that is essential for cell growth and metabolism. It can be found in leafy green vegetables, legumes, nuts, and fortified foods.
The body needs folate to produce red blood cells and DNA. It also plays a role in the development of the nervous system. A lack of folate can lead to anemia, birth defects, and dementia.
The demand for folate has increased in recent years as more people become aware of its importance for health.
Competitive landscape
The rising demand from end-user industries, primarily nutritional supplements, and pharmaceuticals, has led to intense regional and international competition in the folic acid market.
Companies in the folate industry are always introducing new kinds of components to meet consumers' changing wants and capture the broadest market possible. Businesses are also concentrating on expanding their distribution networks in order to access new markets.
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These are some major players in the folate sector
BASF SE
Medicamen Biotech
Zydus Cadila Healthcare
D.S. Lab
Lincoln Pharmaceuticals
Synokem Pharmaceuticals
Jiangxi Tianxin Pharmaceutical
DSM NV
Shangdong Hongzhi Biotechnology
The pricing strategies of folate manufacturers positioned across geographies, sales growth, manufacturing capacity, and speculative production expansion were all thoroughly investigated by FMI in a recently released Research.
The complete report contains recent changes that the FMI team has been monitoring and that have had an impact on folate suppliers.
Folate market report scope
Attribute
Details
Forecast period
2022 to 2032
Historical data available for
2017 to 2022
Market analysis
USD million in value
Key regions covered
North America
Europe
South America
Asian Pacific
Northern Europe
Key countries covered
USA
Germany
France
Italy
Canada
United Kingdom
Spain
China
India
Key segments covered
Product
Application
Distribution channel
Region
Source
Key companies profiled
BASF SE
Medicamen Biotech
Zydus Cadila Healthcare
D.S. Lab
Lincoln Pharmaceuticals
Synokem Pharmaceuticals
Jiangxi Tianxin Pharmaceutical
DSM NV
Shangdong Hongzhi Biotechnology
Report Coverage
Market Forecast
Company Share Analysis
Competitive Landscape
Drivers, Restraints, Opportunities, and Threats Analysis
Market Dynamics
Challenges
Strategic Growth Initiatives
Customization and Pricing
Available upon request
Global folate market segmentation by category
By source:
Fruit
milk
Green vegetables
Liver
Seafood
By application:
Food industry
Neutraceuticals
Pharmaceuticals
By end user:
Fortified foods
baby foods
supplements
By region:
North America
Latin America
Western Europe
Eastern Europe
Middle east and Africa
Asia Pacific
Frequently Asked Questions
How big is the Folate market?
The Folate market size is assessed to be USD 789.3 Million in 2022.
At What Rate is Folate market expected to rise?
The Folate market is expected to rise at a CAGR of 3.5%.
Which are the major countries driving demand for Folate market?
USA, China, Canada, Germany, China, India, United Kingdom are the major countries driving demand for the Folate market.
At what rate will the China folate market grow?
China's Folate market is projected to grow at a CAGR of around 4.2% over the next ten years.
What is the market share of Germany folate market?
Its market share of Germany in beef fat is about 27% of the global market.
Who are the top 5 players operating in the market?
BASF SE, Medicamen Biotech, Zydus Cadila Healthcare, D.S. Lab, Lincoln Pharmaceuticals, Synokem Pharmaceutical, Jiangxi Tianxin Pharmaceutical, DSM NV, Shangdong Hongzhi Biotechnology are expected to be the top players driving the market growth.
What is the demand outlook forecast for the Folate market?
The global Folate market is forecasted to surpass USD 1,113.4 Million by the end of 2032.
