The
global Folic Acid Market size is expected to value at USD 466.2 million by
2025. The market is subject to witness a substantial growth due to the rising
demand of vitamin B9 and its capability to reduce the risk associated with
congenital disabilities in infants. Vitamin B9 or folic acid acts as a natural
source of vital supplement, which is highly required during the pregnancy.
The
recent technological advancement in the pharmaceutical & medicine sector
has led to development of high-quality folic acid tablets that are widely
consumed by pregnant women. In addition, folic acid helps to curb congenital
disabilities such as neural tube defects (NTDs/) in infants, thus driving the
growth of folic acid industry, in the recent years. Globally, the folic acid
market is predicted to grow at a CAGR of 3.5% during the forecast period,
providing numerous opportunities for market players to invest for research and
development in the market.
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Folic
acids or vitamin B9 is a water-soluble vitamin that is vital for production of
red blood cells, insufficiency of folic acid, particularly among pregnant women
leads to anemia. In addition, folic acid is an essential ingredient for the
normal body growth and development. Folic acid helps during production of
genetic substances such as DNA and RNA and aids while performing several other
bodily functions. These factors are anticipated to drive market growth of folic
acid industry over the forecast period.
Regular
consummation of folic acid or vitamin B9 tablets helps to limit risk factor
associate with birth defects such as spin a bifida. The current advancement in
medicine sector has led to development of vitamin B9 dietary supplements with
no health side effects. Increasing production of folic acid or vitamin B9
supplements in the Asia Pacific region owing to its high-end demand and
increasing recommendation by various healthcare professional, doctors and
physicians are expected to foster market expansion for the market of folic acid
in the upcoming years.
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China
is one of the main manufacturer of folic acid in the Asia Pacific region.
However, stringent laws and regulation by local government and implementation
of the Environmental Protection Law are anticipated to hamper overall
production in the Chinese market, thus complementing to the global supply
squeeze and cost increments. Such factors are leading to market decline in the
recent years. Yet, integration of vitamin B9 powder in various food grains and
pulses, and increasing folic acid food fortification as a compulsion in
developed economies such as the U.S., New Zealand, UK, and Australia are
estimated to stimulate market growth over the next seven years.
The
folic acid market is broadly categorized into three major segments based on the
application type such as food beverages segment, pharmaceuticals sector, and
nutraceuticals. The pharmaceuticals sector is considered as one of the fastest
growing segment in the market with substantial revenue generation in the last
few years.
Growing
popularity of the folic acid in pharmaceuticals sector is attributed to the
increasing adoption in nutritional therapy to treat nervous system, urinary and
cardiovascular system disorders. The nutraceuticals segment is has also
witnessed substantial growth owing to the increasing demand during the
manufacturing of vitamin supplementary tablets, powders, and in cosmetics.
The
folic acid industry is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America and European region has
shown major growth in recent years owing to the rise in the implementation of
latest technologies in the pharmaceutical & medicine sector, favorable laws
& regulation regarding use of folic acid in various food grains and pulses,
and existence of well-established industrial infrastructure.
Asia-Pacific
region is predicted to hold major market share in the folic acid market with
massive growth in forecast period. Countries such as India, China and South
Korea are leading the Asia-Pacific market with strong economic growth, improved
healthcare facilities, increasing awareness among general population, and
significant investment by leading industry players considering potential growth
opportunities in the region. The key players in the folic acid industry are
BASF Co., Zydus Pharmaceuticals Ltd., Medicamen Biotech Ltd., Jiangxi Tianxin
Pharmaceutical Co., Ltd., DSM N.V., and Emcure Pharmaceuticals Ltd.
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