The Folic Acid Market size was valued at US$ 0.73 Billion in 2023 and the total global Folic Acid market revenue is expected to grow at 4.3% through 2024 to 2030, reaching nearly US$ 0.98 Billion.Folic Acid Market Overview:
Global Folic acid is the water-soluble form of vitamin B which helps in the creation of red blood cells in the human body. Folic acid is converted into folate by the human body. It is used as a dietary supplement (mostly by folate-deficient patients and pregnant women) and food fortification because of its stability during processing and storage. Folate is necessary for the human body to create RNAs and DNAs and metabolization of amino acids required for the division of cells. Folate is used in the treatment of anemia (folate deficiency disease). Folic acid is also an important ingredient during pregnancy to avoid neural tube-related defects in the offspring. Low levels of folic acid during the early days of pregnancy are the cause of neural tube defects in the majority of severe cases. Folate was one of the most prescribed medicine in the US with more than 7 million prescriptions.To know about the Research Methodology :- Request Free Sample Report
Global Folic Acid Market Dynamics:
Need for folic acid for pregnant women in their early days of pregnancy A major driver in the global folic acid market is the need for folic acid for pregnant women in their early days of pregnancy. Women of reproductive age need at least 400 mcg of folic acid every day. CDC (Center for Disease Control and Prevention) recommended that women who have gone through neural tube-affected pregnancies should consume at least 4100 mcg each day for one month before becoming pregnant again. This factor is projected to drive the global folic acid market in the forecast period (2023-2030). Higher levels of consumption can cause health problems The main restraint of the folic acid market is that higher levels of consumption can cause health problems in its consumers such as stomach ulcers, skin rash, seizures, etc. This resulted in many government policies that opposed the trade of an open market. This is expected to drive many health-conscious consumers away from the global folic acid market. A challenge in the global market is the decline of the overall cost of the global market. This is mainly due to the rise of many small new players in the global market. These players pose a significant threat to the old folic acid firms in the market.Global Folic Acid Market Segment Analysis:
According to MMR analysis, By Form, The tablet segment is projected to grow at the highest CAGR in the forecast period (2023-2030). This is correlated to the high demand for prenatal care in the healthcare industry. Studies also show that folic acid prevents abnormalities in the oral cavities of the fetus such as cleft lip and palate. (A cleft lip is a birth defect in the upper lip of the baby that has an opening in it). The soft gel segment is also projected to witness a high growth rate of 3.2% in the same forecast period. Softgel tablets consist of a gelatin shell around a liquid core. The growth in this segment can be attributed to soft gel capsules providing quick relief in less amount of time as compared to regular tablets.By Application, The pharmaceutical segment dominated the global market in the year 2023. This can be attributed to folic acid having medicinal properties that are useful for treating nervous system-related disorders, cardiovascular diseases, and kidney diseases. Prenatal care is the main driver of the folic acid market in the pharmaceutical segment. It also has applications in many skincare products as it enables the development of healthy skin cells. A nutraceutical is defined as any food product that also acts as a medicine apart from being a nutritional substance. Water-soluble folic acid B9 vitamins are recommended by healthcare professionals as nutraceuticals for patients who suffer from anemia. This trend is projected to drive the nutraceutical segment growth in the aforementioned forecast period.
Folic Acid Market Regional Insights:
The Asia-Pacific region dominated the global folic acid market in the year 2023. This can be attributed to China being one of the major hubs of pharmaceutical research and investments in the world. South-Asian countries like India have some of the highest numbers of anemic patients around the globe. This is projected to drive the growth of the folic acid market in the forecast period (2024-2030). The United States is also projected to witness significant growth in the global market in the same forecast period. The primary reason behind this is the prenatal abnormalities affecting many infants in the country. Neural tube diseases affect about 3400 pregnancies in the United States. This morbid reality coupled with folic acid’s ability to prevent such defects is expected to propel the market in this region in the same forecast period. Sub-Saharan Africa also contains a high number of anemic patients in the world. This factor coupled with high infant mortality rates in the region is expected to the growth of the market in this region in the aforementioned forecast period The objective of the report is to present a comprehensive analysis of the Folic Acid market to the stakeholders in the industry. The past and current status of the industry with the 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 include market leaders, followers, and new entrants. PORTER, 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 the Folic Acid market dynamics, structure by analyzing the market segments and projecting the Folic Acid market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Folic Acid market make the report investor’s guide.Folic Acid Market Scope: Inquire before buying
Folic Acid Market Report Coverage Details Base Year: 2023 Forecast Period: 2024-2030 Historical Data: 2018 to 2023 Market Size in 2023: US $ 0.73 Billion. Forecast Period 2024 to 2030 CAGR: 4.3% Market Size in 2030: US $ 0.98 Billion. Segments Covered: by Form Tablets Soft Gels Lozenges Others by Source Vegetables Fruits Others by Application Food & Beverages Pharmaceutical Nutraceuticals Others Folic Acid Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)Folic Acid Market Key Players
1. BASF SE 2. Zydus Pharmaceuticals Ltd. 3. Medicamen Biotech Ltd. 4. Jiangxi Tianxin Pharmaceutical Co. Ltd. 5. DSM N.V. 6. Emcure Pharmaceuticals Ltd. 7. Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd. 8. Tyson Foods 9. Maple leaf Foods 10. Medicamen Biotech ltd 11. Niutang 12. Jiheng Pharmaceutical 13. Parchem Fine & Specialty Chemicals 14. СhаngzhоuХіnhоng 15. Nantong Changhai Food AdditiveFAQs:
1. Which is the potential market for in terms of the region? Ans. The United States is also projected to witness significant growth in the global market in the forecast period (2024-2030). 2. What are the challenges for new market entrants? Ans. A challenge in the global market is the decline of the overall cost of folic acid in the global market. This is mainly due to the rise of many small new players in the global market. 3. What is expected to drive the growth of the market in the forecast period? Ans. A major driver in the global market is the need for folic acid for pregnant women in their early days of pregnancy. 4. What is the projected market size & growth rate of the Market? Ans. The Market size was valued at US$ 0.73 Billion in 2023 and the total Folic Acid revenue is expected to grow at 4.3% through 2024 to 2030, reaching nearly US$ 0.98 Billion. 5. What segments are covered in the Market report? Ans. The segments covered are form, source, application, and region.
1. Folic Acid Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Folic Acid Market: Dynamics 2.1. Folic Acid Market Trends by Region 2.1.1. North America Folic Acid Market Trends 2.1.2. Europe Folic Acid Market Trends 2.1.3. Asia Pacific Folic Acid Market Trends 2.1.4. Middle East and Africa Folic Acid Market Trends 2.1.5. South America Folic Acid Market Trends 2.2. Folic Acid Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Folic Acid Market Drivers 2.2.1.2. North America Folic Acid Market Restraints 2.2.1.3. North America Folic Acid Market Opportunities 2.2.1.4. North America Folic Acid Market Challenges 2.2.2. Europe 2.2.2.1. Europe Folic Acid Market Drivers 2.2.2.2. Europe Folic Acid Market Restraints 2.2.2.3. Europe Folic Acid Market Opportunities 2.2.2.4. Europe Folic Acid Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Folic Acid Market Drivers 2.2.3.2. Asia Pacific Folic Acid Market Restraints 2.2.3.3. Asia Pacific Folic Acid Market Opportunities 2.2.3.4. Asia Pacific Folic Acid Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Folic Acid Market Drivers 2.2.4.2. Middle East and Africa Folic Acid Market Restraints 2.2.4.3. Middle East and Africa Folic Acid Market Opportunities 2.2.4.4. Middle East and Africa Folic Acid Market Challenges 2.2.5. South America 2.2.5.1. South America Folic Acid Market Drivers 2.2.5.2. South America Folic Acid Market Restraints 2.2.5.3. South America Folic Acid Market Opportunities 2.2.5.4. South America Folic Acid Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Folic Acid Industry 2.8. Analysis of Government Schemes and Initiatives For Folic Acid Industry 2.9. Folic Acid Market Trade Analysis 2.10. The Global Pandemic Impact on Folic Acid Market 3. Folic Acid Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2023-2030 3.1. Folic Acid Market Size and Forecast, by Form (2023-2030) 3.1.1. Tablets 3.1.2. Soft Gels 3.1.3. Lozenges 3.1.4. Others 3.2. Folic Acid Market Size and Forecast, by Source (2023-2030) 3.2.1. Vegetables 3.2.2. Fruits 3.2.3. Others 3.3. Folic Acid Market Size and Forecast, by Application (2023-2030) 3.3.1. Food & Beverages 3.3.2. Pharmaceutical 3.3.3. Nutraceuticals 3.3.4. Others 3.4. Folic Acid Market Size and Forecast, by Region (2023-2030) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Folic Acid Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 4.1. North America Folic Acid Market Size and Forecast, by Form (2023-2030) 4.1.1. Tablets 4.1.2. Soft Gels 4.1.3. Lozenges 4.1.4. Others 4.2. North America Folic Acid Market Size and Forecast, by Source (2023-2030) 4.2.1. Vegetables 4.2.2. Fruits 4.2.3. Others 4.3. North America Folic Acid Market Size and Forecast, by Application (2023-2030) 4.3.1. Food & Beverages 4.3.2. Pharmaceutical 4.3.3. Nutraceuticals 4.3.4. Others 4.4. North America Folic Acid Market Size and Forecast, by Country (2023-2030) 4.4.1. United States 4.4.1.1. United States Folic Acid Market Size and Forecast, by Form (2023-2030) 4.4.1.1.1. Tablets 4.4.1.1.2. Soft Gels 4.4.1.1.3. Lozenges 4.4.1.1.4. Others 4.4.1.2. United States Folic Acid Market Size and Forecast, by Source (2023-2030) 4.4.1.2.1. Vegetables 4.4.1.2.2. Fruits 4.4.1.2.3. Others 4.4.1.3. United States Folic Acid Market Size and Forecast, by Application (2023-2030) 4.4.1.3.1. Food & Beverages 4.4.1.3.2. Pharmaceutical 4.4.1.3.3. Nutraceuticals 4.4.1.3.4. Others 4.4.2. Canada 4.4.2.1. Canada Folic Acid Market Size and Forecast, by Form (2023-2030) 4.4.2.1.1. Tablets 4.4.2.1.2. Soft Gels 4.4.2.1.3. Lozenges 4.4.2.1.4. Others 4.4.2.2. Canada Folic Acid Market Size and Forecast, by Source (2023-2030) 4.4.2.2.1. Vegetables 4.4.2.2.2. Fruits 4.4.2.2.3. Others 4.4.2.3. Canada Folic Acid Market Size and Forecast, by Application (2023-2030) 4.4.2.3.1. Food & Beverages 4.4.2.3.2. Pharmaceutical 4.4.2.3.3. Nutraceuticals 4.4.2.3.4. Others 4.4.3. Mexico 4.4.3.1. Mexico Folic Acid Market Size and Forecast, by Form (2023-2030) 4.4.3.1.1. Tablets 4.4.3.1.2. Soft Gels 4.4.3.1.3. Lozenges 4.4.3.1.4. Others 4.4.3.2. Mexico Folic Acid Market Size and Forecast, by Source (2023-2030) 4.4.3.2.1. Vegetables 4.4.3.2.2. Fruits 4.4.3.2.3. Others 4.4.3.3. Mexico Folic Acid Market Size and Forecast, by Application (2023-2030) 4.4.3.3.1. Food & Beverages 4.4.3.3.2. Pharmaceutical 4.4.3.3.3. Nutraceuticals 4.4.3.3.4. Others 5. Europe Folic Acid Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 5.1. Europe Folic Acid Market Size and Forecast, by Form (2023-2030) 5.2. Europe Folic Acid Market Size and Forecast, by Source (2023-2030) 5.3. Europe Folic Acid Market Size and Forecast, by Application (2023-2030) 5.4. Europe Folic Acid Market Size and Forecast, by Country (2023-2030) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.1.2. United Kingdom Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.1.3. United Kingdom Folic Acid Market Size and Forecast, by Application(2023-2030) 5.4.2. France 5.4.2.1. France Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.2.2. France Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.2.3. France Folic Acid Market Size and Forecast, by Application(2023-2030) 5.4.3. Germany 5.4.3.1. Germany Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.3.2. Germany Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.3.3. Germany Folic Acid Market Size and Forecast, by Application (2023-2030) 5.4.4. Italy 5.4.4.1. Italy Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.4.2. Italy Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.4.3. Italy Folic Acid Market Size and Forecast, by Application(2023-2030) 5.4.5. Spain 5.4.5.1. Spain Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.5.2. Spain Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.5.3. Spain Folic Acid Market Size and Forecast, by Application (2023-2030) 5.4.6. Sweden 5.4.6.1. Sweden Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.6.2. Sweden Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.6.3. Sweden Folic Acid Market Size and Forecast, by Application (2023-2030) 5.4.7. Austria 5.4.7.1. Austria Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.7.2. Austria Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.7.3. Austria Folic Acid Market Size and Forecast, by Application (2023-2030) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Folic Acid Market Size and Forecast, by Form (2023-2030) 5.4.8.2. Rest of Europe Folic Acid Market Size and Forecast, by Source (2023-2030) 5.4.8.3. Rest of Europe Folic Acid Market Size and Forecast, by Application (2023-2030) 6. Asia Pacific Folic Acid Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 6.1. Asia Pacific Folic Acid Market Size and Forecast, by Form (2023-2030) 6.2. Asia Pacific Folic Acid Market Size and Forecast, by Source (2023-2030) 6.3. Asia Pacific Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4. Asia Pacific Folic Acid Market Size and Forecast, by Country (2023-2030) 6.4.1. China 6.4.1.1. China Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.1.2. China Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.1.3. China Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.2. S Korea 6.4.2.1. S Korea Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.2.2. S Korea Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.2.3. S Korea Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.3. Japan 6.4.3.1. Japan Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.3.2. Japan Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.3.3. Japan Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.4. India 6.4.4.1. India Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.4.2. India Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.4.3. India Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.5. Australia 6.4.5.1. Australia Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.5.2. Australia Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.5.3. Australia Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.6. Indonesia 6.4.6.1. Indonesia Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.6.2. Indonesia Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.6.3. Indonesia Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.7. Malaysia 6.4.7.1. Malaysia Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.7.2. Malaysia Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.7.3. Malaysia Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.8. Vietnam 6.4.8.1. Vietnam Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.8.2. Vietnam Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.8.3. Vietnam Folic Acid Market Size and Forecast, by Application(2023-2030) 6.4.9. Taiwan 6.4.9.1. Taiwan Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.9.2. Taiwan Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.9.3. Taiwan Folic Acid Market Size and Forecast, by Application (2023-2030) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Folic Acid Market Size and Forecast, by Form (2023-2030) 6.4.10.2. Rest of Asia Pacific Folic Acid Market Size and Forecast, by Source (2023-2030) 6.4.10.3. Rest of Asia Pacific Folic Acid Market Size and Forecast, by Application (2023-2030) 7. Middle East and Africa Folic Acid Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 7.1. Middle East and Africa Folic Acid Market Size and Forecast, by Form (2023-2030) 7.2. Middle East and Africa Folic Acid Market Size and Forecast, by Source (2023-2030) 7.3. Middle East and Africa Folic Acid Market Size and Forecast, by Application (2023-2030) 7.4. Middle East and Africa Folic Acid Market Size and Forecast, by Country (2023-2030) 7.4.1. South Africa 7.4.1.1. South Africa Folic Acid Market Size and Forecast, by Form (2023-2030) 7.4.1.2. South Africa Folic Acid Market Size and Forecast, by Source (2023-2030) 7.4.1.3. South Africa Folic Acid Market Size and Forecast, by Application (2023-2030) 7.4.2. GCC 7.4.2.1. GCC Folic Acid Market Size and Forecast, by Form (2023-2030) 7.4.2.2. GCC Folic Acid Market Size and Forecast, by Source (2023-2030) 7.4.2.3. GCC Folic Acid Market Size and Forecast, by Application (2023-2030) 7.4.3. Nigeria 7.4.3.1. Nigeria Folic Acid Market Size and Forecast, by Form (2023-2030) 7.4.3.2. Nigeria Folic Acid Market Size and Forecast, by Source (2023-2030) 7.4.3.3. Nigeria Folic Acid Market Size and Forecast, by Application (2023-2030) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Folic Acid Market Size and Forecast, by Form (2023-2030) 7.4.4.2. Rest of ME&A Folic Acid Market Size and Forecast, by Source (2023-2030) 7.4.4.3. Rest of ME&A Folic Acid Market Size and Forecast, by Application (2023-2030) 8. South America Folic Acid Market Size and Forecast by Segmentation (by Value in USD Million) 2023-2030 8.1. South America Folic Acid Market Size and Forecast, by Form (2023-2030) 8.2. South America Folic Acid Market Size and Forecast, by Source (2023-2030) 8.3. South America Folic Acid Market Size and Forecast, by Application(2023-2030) 8.4. South America Folic Acid Market Size and Forecast, by Country (2023-2030) 8.4.1. Brazil 8.4.1.1. Brazil Folic Acid Market Size and Forecast, by Form (2023-2030) 8.4.1.2. Brazil Folic Acid Market Size and Forecast, by Source (2023-2030) 8.4.1.3. Brazil Folic Acid Market Size and Forecast, by Application (2023-2030) 8.4.2. Argentina 8.4.2.1. Argentina Folic Acid Market Size and Forecast, by Form (2023-2030) 8.4.2.2. Argentina Folic Acid Market Size and Forecast, by Source (2023-2030) 8.4.2.3. Argentina Folic Acid Market Size and Forecast, by Application (2023-2030) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Folic Acid Market Size and Forecast, by Form (2023-2030) 8.4.3.2. Rest Of South America Folic Acid Market Size and Forecast, by Source (2023-2030) 8.4.3.3. Rest Of South America Folic Acid Market Size and Forecast, by Application (2023-2030) 9. Global Folic Acid Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2023) 9.3.5. Company Locations 9.4. Leading Folic Acid Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. BASF SE 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Zydus Pharmaceuticals Ltd. 10.3. Medicamen Biotech Ltd. 10.4. Jiangxi Tianxin Pharmaceutical Co. Ltd. 10.5. DSM N.V. 10.6. Emcure Pharmaceuticals Ltd. 10.7. Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd. 10.8. Tyson Foods 10.9. Maple leaf Foods 10.10. Medicamen Biotech ltd 10.11. Niutang 10.12. Jiheng Pharmaceutical 10.13. Parchem Fine & Specialty Chemicals 10.14. СhаngzhоuХіnhоng 10.15. Nantong Changhai Food Additive 11. Key Findings 12. Industry Recommendations 13. Folic Acid Market: Research Methodology 14. Terms and Glossary