The international Folic acid market is anticipated to grow at a CAGR of 4.8% over the course of the estimated period, according to a report by Future Market Insights. The market is expected to be worth USD 1,122.9 Million in 2032 as opposed to USD 702.6 Million in 2022, according to forecasts.
The market size value in 2022
USD 702.6 Million
Market forecast value in 2032
USD 1122.9 Million
Forecast period
2022 to 2032
Global growth rate (CAGR)
4.8%
The growth rate of Australia in the Folic acid market
2.6%
Vitamin B in the form of folic acid is water soluble. It is used to treat specific anemias brought on by folic acid deficiencies. Additionally, it aids in stroke and heart disease prevention. The development of cells, proper brain development, and tissue expansion are all significantly aided by folic acid. It is important for cell division, which is required for the creation of DNA, the genetic material.
It is frequently used to improve fetal growth and prevent birth abnormalities. Additionally, it aids in the body's detoxification process, which keeps the skin healthy and natural. During the projected period, it is anticipated that rising sickness and disease incidences together with growing knowledge of folic acid's health advantages would increase demand for the nutrient.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Historical outlook Vs Future forecast for Folic acid market
According to Future Market Insights, the global market for Folic acid will grow at a CAGR of 3.6% to reach USD 678.2 million in 2021 from USD 588.7 million in 2017.
Folic acid is anticipated to be propelled by its expanding use in the pharmaceutical and nutraceutical sectors. Folic acid has a significant medical value; hence its usage is anticipated to expand quickly over the projection period. Factors such as increased health consciousness coupled with expanding knowledge levels regarding the relevance of folic acid for keeping good health promote the growth of the folic acid market.
There are many health groups that support adding folic acid to grains and pulses. For instance, the CDC and the USA Public Health Service recommended that 400 micrograms (0.4 mg) of folic acid be taken daily by all women of reproductive age to prevent serious birth defects in offspring.
The international Folic acid market is anticipated to grow at a CAGR of 4.8% over the course of the estimated period, according to a report by Future Market Insights.
Country wise insights
How North America Holds the Largest Market Share in the Folic acid market?
The market's highest share is predicted to belong to North America, followed by Europe and Asia-Pacific. In North 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.
What makes Europe an Attractive Market for Folic acid?
Europe has long been a prime market for folic acid, and there are several reasons for this. For one, the continent has a large population of women of childbearing age, which is the group most likely to use folic acid supplements. Additionally, European countries have generally high incomes and health consciousness, both of which contribute to the demand for folic acid supplements.
There are also a number of factors specific to the folic acid market that make Europe an attractive destination for manufacturers and suppliers. For example, European countries have some of the highest maximum permitted levels of folic acid in food products, which provides manufacturers with greater flexibility in formulations. Additionally, many European countries have mandated the fortification of certain foods with folic acid, creating a guaranteed market for the nutrient.
Why is Asia Pacific Emerging as an Opportunistic Folic acid Market?
Folic acid, also known as vitamin B9, is a water-soluble vitamin that is mainly found in leafy green vegetables and fruits. It is an important nutrient for the human body and plays a vital role in the development of the neural tube. Folic acid deficiency can lead to birth defects such as spina bifida and anencephaly.
The Asia Pacific region is emerging as an opportunistic folic acid market due to the increasing awareness of the importance of folic acid among women of childbearing age, and the growing prevalence of neural tube defects in the region. The market is expected to grow at a CAGR of 4.8% during the forecast period (2022 to 2032).
Some of the key players operating in the Asia Pacific folic acid market include DSM Nutritional Products, Inc., BASF SE, and Lonza Group Ltd.
Find your sweet spots for generating winning opportunities in this market.
Category wise insights
How Increasing Demand for Prenatal Vitamin Supplements is supporting the growth of the Folic acid 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. The market for folic acid is growing as a result of the fact that it is mostly utilized in prenatal vitamins. Nearly all obstetricians in the USA advise pregnant women to take prenatal vitamins to encourage healthy development and lower birth defects.
How is the Pharmaceutical Industry Supporting Growth of the Folic acid Market?
Folic acid is a water-soluble vitamin and is mainly found in leafy green vegetables and fruits. It is also available in supplement form. Folic acid is important for the development of the neural tube. It helps to prevent spina bifida, a birth defect in the spinal cord.
The pharmaceutical industry is supporting the growth of the folic acid market by producing supplements and fortified foods. Fortified foods are foods that have been enriched with vitamins and minerals. The most common fortified food is cereal. Many kinds of cereal are now fortified with folic acid.
The pharmaceutical industry is also researching new uses for folic acid. Folic acid supplements are now being used to treat anemia. Anemia is a condition where there are not enough red blood cells in the body. Red blood cells carry oxygen to all parts of the body.
Competitive landscape
Most companies are focusing on innovation and new product launches in order to meet consumers' growing demand and maintain their leadership positions in the market for Folic acid.
Businesses in the Folic acid market sector are always introducing new types of ingredients in order to meet changing consumer needs and capture the greatest market feasible. Businesses are working on expanding their distribution networks in order to reach new markets.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
These are some of the major companies in the Folic acid market
BASF SE
DSM N.V.
Jiangxi Tianxin Pharmaceutical Co. Ltd
Emcure Pharmaceuticals Ltd.
Zydus Pharmaceuticals Ltd.
Medicamen Biotech Ltd.
The pricing strategies employed by manufacturers of Folic acid who were positioned across geographic boundaries, sales growth, manufacturing capability, and speculative production development were all carefully analyzed by FMI in a recent report.
The entire study takes into account recent alterations that the FMI team has been studying that have an impact on Folic acid manufacturers.
Folic acid 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
Eastern Europe
Western Europe
Japan
South America
Asian Pacific
Middle east and Africa
Key countries covered
USA
Germany
France
Italy
Canada
United Kingdom
Spain
China
India
Australia
Key segments covered
Application
Form
Source
Distribution channel
Region
Key companies profiled
BASF SE
DSM N.V.,
Jiangxi Tianxin Pharmaceutical Co. Ltd
Emcure Pharmaceuticals Ltd.
Zydus Pharmaceuticals Ltd.
Medicamen Biotech Ltd.
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
Folic acid market segmentation by category
Application Type:
Pharmaceuticals
Nutraceuticals
food & beverages
By Form:
Soft gels
Lozenges
Tablets
By Source:
Plants
Animal
By Distribution channel:
Online
Offline
By Region:
North America
Latin America
Asia Pacific
Eastern Europe
Western Europe
Japan
Middle East and Africa
Frequently Asked Questions
How big is the Folic acid market?
The Folic acid market size is assessed to be USD 702.6 Million in 2022.
At What Rate is Folic acid market expected to rise?
The Folic acid market is expected to rise at a CAGR of 4.8%.
Which are the major countries driving demand for Folic acid market?
USA, China, Canada, Germany, China, India, the United Kingdom, and Australia are the major countries driving demand for the Folic acid market.
At what rate will the China Folic acid market grow?
China's Folic acid market is projected to grow at a CAGR of around 6.0% over the next ten years.
What is the market share of Germany Folic acid market?
The market share of Germany in the Folic acid market is about 26.8% of the global market.
Who are the top 5 players operating in the market?
BASF SE, DSM N.V., Jiangxi Tianxin Pharmaceutical Co. Ltd, Emcure Pharmaceuticals Ltd., and Zydus Pharmaceuticals Ltd. are expected to be the top players driving the market growth.
What is the demand outlook forecast for the Folic acid market?
The global Folic acid market is forecasted to surpass USD 1122.9 Million by the end of 2032.
