Global Folic Acid Market By Form Type (Tablets, Soft Gels, Lozenges, Others), Source Type (Vegetables, Fruits, Others), Application (Food and Beverages, Pharmaceutical, Nutraceuticals, Others), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The folic acid market is estimated to reach a value of USD 0.843 billion by 2028 and is expected to grow at a compound annual growth rate of 5.80% for the forecast period of 2021 to 2028. The various benefits of folic acid are the factor responsible for the growth of the folic acid market in the forecast period of 2021 to 2028.
Folic acid is a type of water-soluble form of vitamin B, and is essential for the formation of red blood cells. The form of folic acid present naturally in food is termed as folate. It naturally occurs in various foods such as green leafy vegetables, nuts, beans, fruits and fruit juices, peas and dairy products. Folic acid is added to many food products and is obtainable as a dietary supplement.
The rise in demand of dietary supplements is amongst the major factor expected to fuel the growth of the market. Also the rise in the usage of folic acid in a wide range of applications ranging from food and beverages to pharmaceutical are also projected to drive the demand for folic acid market in the forecast period of 2021 to 2028. Furthermore, the rise in health awareness among consumers regarding consumption of healthy food, increase in the disposable income and rapid urbanization are also likely to fuel the folic acid market growth. In addition, the increase in the health awareness amongst consumers and its use for growth and production of genetic materials such as DNA and RNA, are other factors projected to support growth of the folic acid market in the above mentioned forecast period.
Moreover, the various favorable regulations and amendments are estimated to generate various new opportunities for the folic acid market in the forecast period of 2021 to 2028. Also the increase in the end-user application across globe and high growth of dietary supplements are expected to act as an opportunity for the folic acid market.
However, the rapid increase in the concern regarding high doses over a long period of time, as large amounts of folic acid may hide vitamin B12 deficiency which is expected to obstruct the folic acid market growth rate, whereas the incessant rise in the prices and tightening of supply-demand chain can pose as a market challenge for folic acid market in the above mentioned forecast period.
This folic acid market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on folic acid market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Folic Acid Market Scope and Market Size
The folic acid market is segmented on the basis of form type, source type and application. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on form type, the folic acid market has been segmented into tablets, soft gels, lozenges and others.
- On the basis of source type, the folic acid market has been segmented into vegetables, fruits and others.
- The application segment of the folic acid market has been segmented into food and beverages, pharmaceutical, nutraceuticals and others.
Folic Acid Market Country Level Analysis
The folic acid market is analyses and market size, volume information is provided by country, form, form type, source type and application as referenced above.
The countries covered in the folic acid market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific(APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific leads the folic acid owing to the rise in the demand of nutritional food products and increase in the awareness for healthy food, particularly in China and India. Europe is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the existence of strict regulation regarding consumption of additional nutraceuticals along with intake of proper diet.
The country section of the folic acid market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Folic Acid Market Share Analysis
The folic acid market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to folic acid market.
The major players covered in the folic acid report are BASF SE, DSM, Zydus Cadila, Emcure Pharmaceuticals, HEMA PHARMACEUTICALS PVT. LTD., Jiangxi Tianxin Pharmaceutical Co. Ltd., Medicamen Biotech Limited, Wellona Pharma, Aushadh Limited, Anuja Healthcare Limited, Triveni Interchem Private Limited and Nantong changhai food additive Co., ltd., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.