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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:

  • Tablets
  • Soft Gels
  • Lozenges
  • Others

Based on the source type the folic acid market is segmented into:

  • Vegetables
  • Fruits
  • Others

Based on the application type the folic acid market is segmented into:

  • Food & Beverages
  • Pharmaceutical
  • Nutraceuticals
  • Others

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.
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Folic Acid Market

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