The global Folic Acid Market size is expected to value at USD 466.2 million by 2025. The market is subject to witness a substantial growth due to the rising demand of vitamin B9 and its capability to reduce the risk associated with congenital disabilities in infants. Vitamin B9 or folic acid acts as a natural source of vital supplement, which is highly required during the pregnancy.
The recent technological advancement in the pharmaceutical & medicine sector has led to development of high-quality folic acid tablets that are widely consumed by pregnant women. In addition, folic acid helps to curb congenital disabilities such as neural tube defects (NTDs/) in infants, thus driving the growth of folic acid industry, in the recent years. Globally, the folic acid market is predicted to grow at a CAGR of 3.5% during the forecast period, providing numerous opportunities for market players to invest for research and development in the market.
Folic acids or vitamin B9 is a water-soluble vitamin that is vital for production of red blood cells, insufficiency of folic acid, particularly among pregnant women leads to anemia. In addition, folic acid is an essential ingredient for the normal body growth and development. Folic acid helps during production of genetic substances such as DNA and RNA and aids while performing several other bodily functions. These factors are anticipated to drive market growth of folic acid industry over the forecast period.
Regular consummation of folic acid or vitamin B9 tablets helps to limit risk factor associate with birth defects such as spin a bifida. The current advancement in medicine sector has led to development of vitamin B9 dietary supplements with no health side effects. Increasing production of folic acid or vitamin B9 supplements in the Asia Pacific region owing to its high-end demand and increasing recommendation by various healthcare professional, doctors and physicians are expected to foster market expansion for the market of folic acid in the upcoming years.
China is one of the main manufacturer of folic acid in the Asia Pacific region. However, stringent laws and regulation by local government and implementation of the Environmental Protection Law are anticipated to hamper overall production in the Chinese market, thus complementing to the global supply squeeze and cost increments. Such factors are leading to market decline in the recent years. Yet, integration of vitamin B9 powder in various food grains and pulses, and increasing folic acid food fortification as a compulsion in developed economies such as the U.S., New Zealand, UK, and Australia are estimated to stimulate market growth over the next seven years.
The folic acid market is broadly categorized into three major segments based on the application type such as food beverages segment, pharmaceuticals sector, and nutraceuticals. The pharmaceuticals sector is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years.
Growing popularity of the folic acid in pharmaceuticals sector is attributed to the increasing adoption in nutritional therapy to treat nervous system, urinary and cardiovascular system disorders. The nutraceuticals segment is has also witnessed substantial growth owing to the increasing demand during the manufacturing of vitamin supplementary tablets, powders, and in cosmetics.
The folic acid industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America and European region has shown major growth in recent years owing to the rise in the implementation of latest technologies in the pharmaceutical & medicine sector, favorable laws & regulation regarding use of folic acid in various food grains and pulses, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the folic acid market with massive growth in forecast period. Countries such as India, China and South Korea are leading the Asia-Pacific market with strong economic growth, improved healthcare facilities, increasing awareness among general population, and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the folic acid industry are BASF Co., Zydus Pharmaceuticals Ltd., Medicamen Biotech Ltd., Jiangxi Tianxin Pharmaceutical Co., Ltd., DSM N.V., and Emcure Pharmaceuticals Ltd.
Folic Acid Application Outlook (Volume, Metric Tons; Revenue, USD Million, 2014 - 2025)
• Food & beverages
Folic Acid Market Regional Outlook (Volume, Metric Tons; Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Middle East & Africa
• Central & South America
Research Support Specialist, USA