Global Folic Acid Market- Industry Analysis and Forecast (2019-2027)
Global Folic Acid Market was valued at US$ XX Mn in 2019 and is expected to grow around US$ XX Mn by 2027, at a CAGR of 5.15% during the forecast period.
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Folic acid is a synthetic folate compound used for the formation of red blood cells and is in the form of a water-soluble of vitamin B. Folic acid works with vitamins B6 and B12 to control high-levels of homocysteine in the blood and increasing vitamin B9 consumption in pharmaceuticals and food & beverages together with growing consciousness among consumers is expected to encourage the folic acid demand. Many food products contain folic acid and are available as a dietary supplement. The European Food Safety Authority (EFSA) has recorded the benefits of dietary consumption of folates, for example, normal cell division, better amino acid synthesis, and appropriate blood formulation.
Advanced medical technologies have enabled the production of excellent folic acid tablets that are suggested to consume during pregnancy and also for women who are planning to become pregnant. It overcomes the risk of genetic disabilities of a baby's brain and spines for instance spina bifida and anencephaly by 50% or above. As said by the CDC (Center of disease control) – pregnant women have to consume 400 micrograms (mcg) of folic acid every day to avoids serious birth deficiencies in a child. Population increase with better-quality healthcare facilities in the developing region, such as the Asia Pacific and Latin America and the adding of folic acid in food grains is mandatory in developed countries, such as the U.S., UK, and Australia are the significant factor in driving the growth of the folic acid market.
The emergent e-commerce platform will be the key trends of the folic acid market that will influence the growth in the years to come. The main reason for the growth of virtual sales of vitamins is the increasing efforts by the retailers to develop online shopping practices through enhanced online education and targeted marketing. For example, Amazon sells folic acid to consumers in the above 50 demographic locations.
The demand for folic acid in nutraceuticals and pharmaceutical industries, because of its high nutritional value is a crucial factor driving the growth of the folic acid market. Increasing health consciousness among consumers and its use for the development and production of genetic materials, such as DNA and RNA, are other factors expected to support the growth of the global folic acid market in the future.
The Asia Pacific is expected to hold the highest CAGR of the global folic acid market, thanks to demand from emerging countries, like China, and India and the existence of numerous domestic and international market players in countries in the Asia Pacific region. The market in North America is expected to register for the second-largest revenue share, because of demand from the pharmaceutical sectors and growing consciousness of its health benefits in countries in the region.
The objective of the report is to present a comprehensive analysis of the Global Folic Acid Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Folic Acid Market dynamics, structure by analyzing the market segments and project the Global Folic Acid Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Folic Acid Market make the report investor’s guide.
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Global Folic Acid Market, By Form
• Soft Gels
Global Folic Acid Market, By Application
• Food & Beverages
Global Folic Acid Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Folic Acid Market
• BASF SE
• Zydus Pharmaceuticals Ltd.
• Medicamen Biotech Ltd.
• Jiangxi Tianxin Pharmaceutical Co. Ltd.
• DSM N.V.
• Emcure Pharmaceuticals Ltd.
• Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd.
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