The total value of the global folate market was approximately USD 789.3 million in 2022, and analysts forecast that it will increase to approximately USD 1113.4 million by 2030, expanding at a compound yearly growth rate (CAGR) of approximately 3.5% between 2023 and 2030.
Folate Market: Overview
The B vitamin family includes the vital nutrient foliate, which is often referred to as vitamin B9 or folic acid. Folate is a member of the B vitamin family. It is known as a water-soluble vitamin, which indicates that it is easily dissolved in water and does not accumulate to a substantial degree in the body. As a result, it is essential to incorporate it on a consistent basis into one's diet in order to keep optimal levels. Folate is an essential nutrient that helps the body produce DNA and RNA, contributes to the maturation of red and white blood cells, and plays a part in the breakdown of amino acids. In stages of life characterised by fast cell division and expansion, such as childhood, pregnancy, and adolescence, it is of the utmost significance. Involvement in the process of synthesis and repair of DNA, which is the genetic material of cells, is one of the essential roles that folate plays in the body. It plays an important role in the formation of new cells, particularly red blood cells, which are responsible for transporting oxygen throughout the body. Folate is essential for healthy brain function in addition to being required for the creation of neurotransmitters.
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Folate Market: Growth Drivers
More people are becoming aware of how essential it is to take folic acid supplements.
Folate is an essential nutrient for foetal development, particularly in the early stages of pregnancy when the neural tube is still being formed. Folate's impact on foetal development cannot be overstated. A neural tube defect in the developing baby, such as spina bifida, can be caused by an insufficient amount of folate consumed during pregnancy. As a direct consequence of this, there has been an increased awareness directed towards the significance of taking folic acid supplements throughout the early stages of pregnancy and by women who are considering becoming pregnant in the near future. The use of folic acid supplements is being actively promoted by medical professionals, such as obstetricians and gynaecologists, in order to guarantee that pregnant mothers have enough levels of folate in their bodies. In addition, many nations have launched public awareness efforts and educational programmes to educate people about the advantages of taking folic acid supplements.
Folate Market: Segmentation
The global market for folate may be broken down into distinct submarkets according to the product type, application, end users, and location.
Folic acid and natural folate are the two distinct product categories that make up the two distinct subsets of the global market. It is anticipated that the folic acid segment would grab the biggest market share over the course of the projection period. Numerous nations have instituted folic acid fortification programmes as a public health strategy to reduce the risk of neural tube abnormalities (NTDs) in neonates. Folic acid consumption before and during the early stages of pregnancy can help minimise the incidence of neural tube defects (NTDs), which are major birth disorders that affect the brain and spine. The addition of folic acid to staple foods like cereals, bread, pasta, and flour is what most people think of when they hear the term "fortification."
Folate Market: Regional Analysis
During the time period covered by the forecast, it is anticipated that North America would have the majority share of the market.
On the international market for folate, the North American region, which consists of the United States of America and Canada, is a key region. It is distinguished by having an established healthcare infrastructure, a high level of consumer awareness, and a significant emphasis on preventative healthcare and wellbeing. The desire for nutritional supplements, foods that have been artificially enhanced, and medications all contribute to the large market share that North America possesses in the global folate industry.
Folate Market: Competitive Analysis
The global folate market is dominated by players like:
DSM Nutritional Products
BASF SE
Gnosis by Lesaffre
Merck KGaA
Zhejiang Shengda Bio-Pharm Co. Ltd.
Jubilant Life Sciences Ltd.
NattoPharma
NBTY Inc. (Nature's Bounty Co.)
Pharmavite LLC
NOW Health Group Inc.
The global folate market is segmented as follows
By Type
Folic Acid
Natural Folate
By Application
Food industry
Nutraceuticals
Pharmaceuticals
By End-user
Fortified Foods
Baby Foods
Supplement
By Region
North America
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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