Folic Acid Market Size, Share, Growth (2023-2028)

Posted January 20, 2023 by Bhargav

Folic acid Market Size was worth US$ 0.68 Billion in 2022 and is anticipated to reach a valuation of US$ 0.75 billion by 2027 with a CAGR of 5.11%.

Market overview:

The Folic Acid Market was valued at $0.68 billion in 2022 and is estimated to reach $0.75 billion by 2027, with a CAGR of 5.11% from 2022 to 2027.
A water-soluble vitamin B compound called folic acid helps the body make red blood cells. It can be changed by the body into folate, which is needed to make DNA, RNA, and amino acids. It is mostly utilized in the food fortification sector as well as the dietary and supplement sectors to address folate deficiencies. It is typically necessary for pregnant mothers to protect their unborn child. It is one of the drugs that doctors in the US most frequently prescribe. Folic acid is widely used in the pharmaceutical industry; hence the market is anticipated to expand rapidly. It has a number of medical advantages and is anticipated to grow during the forecast period. Consumers are getting more health conscious and knowledgeable about the common medications. As customers go toward vegetarian or plant-based diets, anemia is becoming increasingly prevalent among many people these days. Although it can be found naturally in green leafy vegetables, meat and shellfish provide the majority of its nutritional needs. The market for this category has seen a large influx of new products, increasing competition. It is also utilized in the personal care and cosmetics industry due to its numerous skin advantages.
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Market Drivers and Restraints:

Significant increase is predicted during the forecast period as a result of the market's high demand in the pharmaceutical industry, notably for prenatal care. Women of reproductive age are advised to eat 400 mcg of folic acid daily in order to preserve reproductive health and bodily functioning, which is projected to drive the market and enhance demand. Anemia, aberrant RNA and DNA molecules, digestive troubles, and mental abnormalities are just a few of the illnesses driving up demand for folic acid due to the frequency of folic acid deficiency and growing consumer awareness of health issues.
Despite the fact that folic acid offers a lot of benefits, overusing it can have a variety of negative health effects, such as breathing problems, digestive issues, stomach ulcers, allergic responses, and more, which could restrain market growth during the projection period. The market has been under the jurisdiction of numerous governmental organizations, which have imposed stringent limitations on its creation and sale while also limiting the market's expansion. The price of raw materials is also highly unstable and varies frequently. This may turn away clients and be a significant hindrance, slowing the planned expansion of the market. Global need for providing pregnant women with a healthy diet and nutrition is expanding the market's potential. Prenatal vitamins are also advised by all obstetricians worldwide to help reduce birth abnormalities in expectant mothers.
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The report is segmented as follows:

The Folic Acid Market is segmented by Type; the Market is segmented by Form; the Market is segmented by End-User:
By Type (5-MTHF Calcium Salt, 5-MTHF Glucosamine Salt)
By Form (Tablets, Capsules, Powder, Lozenges, Gummies)
By End User (Food and Beverages, Agriculture and Feed, Pharmaceuticals & Nutraceuticals)
Geographical Segmentation:

The folic acid market is dominated by the North American region, according to geography. The North American region has been at the forefront of the industry thanks to significant investment in R&D efforts. They are utilizing state-of-the-art expertise and technology to boost the market.
However, it is projected that over the course of the prediction, Europe and Asia-Pacific would experience substantial increase. Europe has seen a huge increase in the market's growth and demand. Strict laws and restrictions as a result of the government's initiative to promote supplemental nutraceuticals and a healthy diet have led to an increase in demand. With these beneficial measures, it is hoped that the European Union will continue the trend.
Asia-Pacific is expected to exhibit the highest CAGR growth due to investments made by key market players and rising usage of folate in the pharmaceutical industry and other end-user industries like cosmetics and food and beverage. Additionally, it is expected that the worldwide folic acid market would rise due to the expanding population and rising need for folate supplements.
Impact of COVID-19 on the Market

The COVID-19 epidemic had a bad effect on every industry. Additionally, the market for folic acid was significantly impacted. Due to transportation limitations, supply chains experienced interruptions all across the world, and raw material costs for all products increased. Additionally, there was a labor shortage, which increased the cost of all commodities. The end-user industries took the biggest beating, and their expansion was severely constrained. However, when customers became more concerned with their health, they gave nutrition top priority. Due to a lack of seafood, the market saw a rise in demand for folate pills. Many manufacturers are creating new products and offerings in this sector in order to fuel market growth as the economy recovers from the pandemic's aftereffects during the forecasted period.
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Categories Industry , Marketing , Technology
Tags folic acid market , folic acid market share
Last Updated January 20, 2023