Folic Acid Market: Overview
Folic acid is a vitamin B9 and is a type of which is recognized as folate and is type of vitamins B. Folic acid is used as a nutritional supplement by women to avoid neural tube imperfections developing during the time of pregnancy. In addition, folic acid is used for the treatment of anemia caused by folic acid insufficiency. Folic acid is a kind of long term supplementation which is also related with small amount of reductions in the risk of cardiovascular stroke and disease. Folic acid is taken through mouth or by injection to fulfill the nutritional deficiency in human body.
Folic Acid Market: Drivers & Restraints
The major factors driving the growth of folic acid market are growing demand of dietary supplements and growing usage of folic acid in a wide range of applications ranging from food & beverages to pharmaceutical rising health awareness among consumers regarding consumption of healthy food, rising disposable income and increasing urbanization. Moreover, as folic acid is vital for proper functioning of brain and plays a key role in emotional and mental health. It supports in the production of RNA and DNA, the human body essential genetic material, and is mainly important when tissues and cells are growing rapidly like in adolescence, infancy, and pregnancy. In addition, folic acid works narrowly with vitamin B12 help iron work properly in the body and to make red blood cells. On the other hand, major factors restraining the growth of folic acid market is high doses over a long period of time are of concern. There are concerns that large amounts of folic acid might hide vitamin B12 deficiency.
Folic Acid Market: Market Segmentation
The mixed folic acid market is segmented into four parts based on the type of form, source type, application, and geography.
Based on the form type of folic acid the functional flours market is segmented into:
- Soft Gels
Based on the source type the folic acid market is segmented into:
Based on the application type the folic acid market is segmented into:
- Food & Beverages
Folic Acid Market: Regional Outlook
Regarding geography, folic acid market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Folic acid market is expected to register healthy CAGR during the forecast period. Asia-Pacific represents the significantly high market share and grow with comparatively high CAGR in forecast period. The demand of folic acid is rising rapidly due the reason that addition of vitamin B9 powder in food grains and pulses to increase folic acid food fortification has been made compulsory in many developed economies such as the U.S., New Zealand, UK, and Australia. In addition, rise in per capita income also supports the growth of folic acid market in this region. The existence of stringent regulation about consumption of additional nutraceuticals along with proper diet has been responsible for demand of folic acid market. Moreover, favorable regulations and amendments by the European Union are expected to drive the regional growth over the forecast period. The folic acid market is projected to register healthy growth due increasing end-user application across globe and increasing growth of dietary supplements market. Folic acid market for Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the growth of demand of nutritional food products and rising awareness for healthy food, especially in China and India. Moreover, advancements in the food service and food processing industry drive in new opportunities for folic acid market players in the region.
Folic Acid Market: Key Players
Some of the key players identified in the folic acid market are:-
- BASF SE
- Zydus Pharmaceuticals Ltd.
- Medicamen Biotech Ltd.
- Jiangxi Tianxin Pharmaceutical Co. Ltd.
- DSM N.V.
- Emcure Pharmaceuticals Ltd.