New York, March 12, 2020 (GLOBE NEWSWIRE) -- The Global Folic Acid market is forecast to reach USD 1.07 Billion by 2027, according to a new report by Reports and Data. Folic acid may be referred to as the synthetic form of vitamin B9. It is also known as pteroylmonoglutamic acid. The rising awareness about the health impact due to the deficiency of this vitamin like anemia, mouth ulcer, among others, is supporting the market growth. Increasing awareness about women health and care during pregnancy is also fostering sector growth.
The consumption of this acid in the required amount prior and at the time of pregnancy helps in preventing neural tube defects along with spinal bifida. Its intake in high doses prior and at the time of the first trimester reduces the risk of miscarriages. Apart from its use in the healthcare sector, it is also used in processed food products and supplements. Its supplements can be used for treating the deficiency of folate, and it is also helpful in treating leg ulcers and certain menstrual issues.
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Thus, increasing demand for dietary supplements and the continuous expansion of the pharmaceutical sector are propelling the market growth. Continuous focus on R&D activities in regards to the positive impact of consumption of this vitamin is also fostering the industry growth. As an instance, according to a study conducted in 2017, it has been stated that the consumption of this vitamin in the recommended amount can help in minimizing the risk of pesticide-related autism among children. Such findings also positively impact the sector’s growth.
In regards to region, North America can be seen to hold a considerable share of the market. The market share held by the region is attributed to high awareness about the adverse impact of deficiency of this vitamin and associated high demand for nutritional supplements, supporting the expansion of the market in this region.
Further key findings from the report suggest
- The Folic Acid market held a market share of USD 750.9 Million in the year 2018 that is forecasted to grow at a rate of 4.0% during the forecast period.
- In context to Grade, the Food Grade segment is projected to witness a significant growth rate of 4.3% during the forecast period, which is expected to hold 37.0% of the market by 2027. The growth rate witnessed by the Food Grade segment is attributed to the continuous growth of the food & beverage industry, rising awareness about the nutritional importance of Vitamin B9 and rising demand for cereal-based foods, wherein this vitamin in food grade is used for food fortification of meal replacements and cereal-based foods.
- In context to Form, the Tablets segment held the largest market share of more than 30.0% in 2018, with a CAGR of 4.3% during the forecast period. Easy availability of this vitamin in tablet form, wherein a wide product range is available for over the counter folic acid tablets, and the fact that this vitamin is commonly prescribed in tablet form for adults in the healthcare sector contributes to the market share held by this segment.
- In regards to Application, the Pharmaceutical segment occupied the largest market share of more than 40.0% in 2018, with a CAGR of 4.1% during the forecast period. The market dominance of the Pharmaceutical segment is attributed to the high demand for this vitamin in treating the deficiency of folate and rising awareness about women’s health during pregnancy in the healthcare sector, which results in elevated application of the vitamin in this segment.
- In regards to the region, Europe held 19.0% of the market in 2018, with a CAGR of 4.2% during the forecast period. The market share held by the region is attributed to the expanding healthcare and pharmaceutical industry in this region, which is supporting the expansion of the sector in this region.
- Key participants include Zydus Pharmaceuticals Ltd., BASF SE, Jiangxi Tianxin Pharmaceutical Co. Ltd., Medicamen Biotech Ltd., Emcure Pharmaceuticals Ltd, DSM N.V, Shandong Xinfa Pharmaceutical Co., Ltd., Changzhou Kangrui., Niutang, Jiheng Pharmaceutical and Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd.
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For the purpose of this report, Reports and Data have segmented the global Folic Acid market according to Grade, Form, Application, and Region:
Grade Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Pharmaceutical Grade
- Food Grade
- Others
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Soft Gels
- Lozenges
- Tablets
- Others
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Food & beverages
- Pharmaceutical
- Nutraceutical
- Others
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/folic-acid-market
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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