Folic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.11 % |
| Fastest Growing Market | North America |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Folic Acid Market Analysis
The folic acid market is expected to register a CAGR of 5.11% during the forecast period, 2022-2027.
The COVID-19 outbreak positively impacted the market due to the increased awareness of preventative health. This factor has created an inclination toward the regular intake of supplements and other fortified food products, thus propelling the overall demand for the market.
Increasing demand for folic acid and folate supplements among pregnant women, increasing awareness regarding micronutrients, and rising prevalence of anemia are some of the key factors stimulating the growth of the market studied.
Furthermore, the growing awareness about the health impacts caused by the deficiency of this vitamin, such as anemia and mouth ulcers, is supporting the market's growth. Folate supplement helps form DNA and RNA and improves protein metabolism.
Folic Acid Market Trends
This section covers the major market trends shaping the Folic Acid Market according to our research experts:
Increasing Demand for Prenatal Vitamin Supplements
Vitamins are one of the crucial nutrients for women, especially vitamin B12, vitamin B9, and vitamin D, which are particularly important to support the development of the baby's nervous system (B12) and skeleton (D) since proper nutrition and diet are essential in pregnancy to help them deliver healthy babies. This factor boosts the folic acid market due to the major usage of folic acid in prenatal supplements. Almost all obstetricians in the United States recommend prenatal vitamins to pregnant women to support healthy growth and minimize birth defects. A study by the UC Davis MIND Institute claimed that women who reported not taking daily prenatal immediately before and during the first month of pregnancy were likely to have a child with an autism spectrum disorder, twice the rate of women who consumed the supplements.
North America Holds the Largest Market Share
North America is estimated to hold the largest share in the market, followed by Europe and Asia-Pacific. Huge investments in product innovation and R&D facilities are frequently witnessed in North America. Moreover, the increased manufacturing base in the area and the implementation of advanced technologies and expertise are expected to trigger regional growth during the forecast period. Europe witnessed significant demand for folic acid materials. Stringent regulations about consuming additional nutraceuticals and proper diet are responsible for the increasing demand. Moreover, favorable regulations and amendments by the European Union are expected to drive the regional growth over the forecast period.
Folic Acid Industry Overview
The folic acid market is highly competitive with a strong presence of regional and global players, mostly driven by increased demand from end-user industries, majorly dietary supplements and pharmaceuticals. Some of the major key players in the market include DSM NV, BASF SE, Parchem Fine & Specialty Chemicals, Jiangxi Tianxin Pharmaceutical Co. Ltd, Medicamen Biotech Ltd, and Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd.
Folic Acid Market Leaders
BASF SE
Parchem Fine & Specialty Chemicals
Medicamen Biotech Ltd
DSM NV
Jiangxi Tianxin Pharmaceutical Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Folic Acid Market News
In May 2019, Merck launched a new and revamped proprietary product named Arcofolin™ L-Methylfolate, a monosodium salt of L-5-methyltetrahydrofolic acid for nutritional and pharmaceutical applications. It is a naturally occurring predominant form of folate.
Folic Acid Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Dietary Supplements
5.1.2 Cosmetics
5.1.3 Pharmaceuticals
5.1.4 Other Applications
5.2 By Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Italy
5.2.2.6 Spain
5.2.2.7 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 South Africa
5.2.5.2 Saudi Arabia
5.2.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 DSM NV
6.4.2 BASF SE
6.4.3 Parchem Fine & Specialty Chemicals
6.4.4 Jiangxi Tianxin Pharmaceutical Co. Ltd
6.4.5 Medicamen Biotech Ltd
6.4.6 Zydus Pharmaceuticals Ltd
6.4.7 Nantong Changhai Food Additive Co. Ltd
6.4.8 Xinfa Pharmaceutical Co. Ltd
6.4.9 Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Folic Acid Industry Segmentation
Folic acid, also known as vitamin B folacin, is one of the B vitamins. It gets converted into folate by the body. It is used as a dietary supplement and in food fortification as it is more stable during storage and processing.
The market is segmented by type and application. For each segment, the market sizing and forecast have been done based on value (USD billion).
| By Application | |
| Dietary Supplements | |
| Cosmetics | |
| Pharmaceuticals | |
| Other Applications |
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Folic Acid Market Research FAQs
What is the current Folic Acid Market size?
The Folic Acid Market is projected to register a CAGR of 5.11% during the forecast period (2024-2029)
Who are the key players in Folic Acid Market?
BASF SE, Parchem Fine & Specialty Chemicals, Medicamen Biotech Ltd, DSM NV and Jiangxi Tianxin Pharmaceutical Co. Ltd are the major companies operating in the Folic Acid Market.
Which is the fastest growing region in Folic Acid Market?
North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Folic Acid Market?
In 2024, the Asia Pacific accounts for the largest market share in Folic Acid Market.
What years does this Folic Acid Market cover?
The report covers the Folic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Folic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Folate Industry Report
Statistics for the 2024 Folate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Folate analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
