ID: MRFR/F-B & N/0585-HCR | 140 Pages | Published By Tejas Chaudhary on March 2023
The Folate Market is expected to register a CAGR of 5.57% from 2022-2030 and reach USD 1.22 billion by the end of 2030.
The folate market size is projected to reach approximately USD 1.22 billion by 2030, at a CAGR of 5.57% from 2022 to 2030. Folate, also known as nutrient B9, is renowned for promoting healthy pregnancy and fetal development. Because of its increased security, it is a designed folate molecule used in nutrient upgrades and fortified food. Additionally, it identifies a substantial application in the pharmaceutical industry as a crucial ingredient to prevent weakening. Some main reasons promoting the growth of the market under study are rising anemia prevalence, rising awareness of micronutrients, and rising demand for folic acid and folate supplements among pregnant women. The market is expanding as a result of increased knowledge of the negative health effects of this vitamin deficiency, including anemia and mouth ulcers. A folate supplement increases protein metabolism and aids in DNA and RNA formation. Furthermore, folate is employed for food fortification because of its excellent stability during food preparation and storage. Due to rising demand in pharmaceutical sectors for endues applications, the folate industry is predicted to develop at a considerable CAGR throughout the forecast period. Furthermore, developments in the food service and food processing industries are expected to drive the folate market in the coming years.
COVID-19 Impact Analysis
The COVID-19 pandemic had a favorable influence on the market for folate because of increased knowledge of preventative health. This element has produced a preference for the frequent use of supplements and other fortified food items, pushing total market demand. COVID-19 impeded target sector growth in established and emerging nations worldwide by disrupting supply chains, fluctuating raw material supplies, insufficient manpower in production facilities, and poor demand from end users. However, due to the COVID-19 outbreak, the use of immune supplements has grown. Furthermore, the decline in meat and fish intake has increased the desire for vitamin supplements, increasing the demand for folate. Pharmaceutical and biotech businesses collaborate with governments to solve the COVID-19 pandemic, from vaccine research to medication supply chain difficulties.
Folate Market Dynamics
The market for folate is predicted to expand throughout the forecast period because of increased demand in the pharmaceutical sector for endues applications. Furthermore, developments in the food service and food processing industries are expected to generate profitable growth prospects for the target sector's key layers. Growth in the demand for nutritional food items and awareness for healthy food has led to developments in the food service and food processing industries, offering the potential for a market for folate competitors. Furthermore, the COVID-19 outbreak has significantly increased the demand for vitamin supplements, and folate demand is rising quickly. As a result, the demand for folate in the food industry is expected to increase throughout the projected period, which will present growth prospects for the major players in the target industry. However, adverse effects from excessive doses of folate, including nausea, irritability, skin disorder, sleep difficulties, and others, hamper the market for folate growth. Additionally, the rise in female fertility rates, particularly in the Asia-Pacific region, is another important factor driving the market. Folic acid can be harmful when consumed orally in large doses over an extended period of time. High doses of folate may result in stomach cramps, runs, rash, sleep issues, touchiness, disorder, nausea, stomach upset, behavior changes, skin reactions, seizures, gas, volatility, and other unintended side effects. This has led to regulatory restrictions on the open market sales of medications containing folate to prevent chronic drug usage.
Vitamins are one of the most important nutrients for women, particularly vitamin B12, vitamin B9, and vitamin D. These vitamins are especially important to support the development of the baby's nervous system (B12) and skeleton (D), as proper nutrition and diet are crucial during pregnancy to help women have healthy babies. Due to the significant use of folic acid in prenatal vitamins, this aspect drives up the demand for folic acid. Almost all obstetricians in the US advise prenatal vitamins to expectant mothers to promote healthy development and reduce birth abnormalities.
The rapid rise in concerns about high doses over extended periods, as large amounts of folic acid may conceal vitamin B12 deficiency, is anticipated to impede the growth of the folic acid market, while the unceasing rise in prices and tightening of the supply-demand chain may present a challenge to the market for folate during the forecast period.
Folic acid is required for pregnant mothers to avert birth abnormalities in their children. It includes the enzymes required for the child's brain and spine growth. Pregnant women who consume a proper amount of folic acid minimize their chance of miscarriage. As a result, gynecologists worldwide strongly advise women to take folic acid supplements. This increases the market for folate growth.
Folate Market Segmentation
Based on type, the folate market segmentation is 5-MTHF calcium salt and 5-MTHF glucosamine salt. The 5-MTHF calcium salt folate category accounted for the majority of revenue share in the folate market growth in 2021. This growth can be ascribed to growing uses in end-use applications such as pharmaceutical industries and nutraceuticals.
Based on form, the folate market segmentation is tablets, capsules, powder, lozenges, gummies, and others. The tablets segment has dominated the market with the largest share in 2021. This growth is attributed to the increasing demand for tablet-form vitamins worldwide. On the other side, powder form is expected to register the highest CAGR during the forecast period due to the growing popularity of powdered supplements among young populations across the globe.
End User Insights
Based on end users, the market has been divided into food & beverages, pharmaceuticals & nutraceuticals, agriculture & feed, and others. The pharmaceuticals & nutraceuticals segment held the largest market share in 2021. This growth is attributed to the increasing folate usage in pharmaceutical and nutraceutical applications. In the pharmaceutical business, folate is frequently utilized in nutrition therapy to treat neurological, urogenital, and cardiovascular illnesses.
Global Folate Market Share, By Region, 2021 (%)
Folate Market Overview, by Region
By region, the folate market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific dominates the market with the largest revenue share in 2021. Asia-Pacific is to register the fastest growth rate over the forecast period.
In 2021, North America dominated the market with the highest revenue share in the market for folate. The growth is majorly attributed to rising demand from pharmaceutical and nutraceuticals industries for the end-use application in countries such as the US and Canada. Moreover, favorable regulations of the government are predicted to drive market growth over the projected period.
Asia-Pacific is also expected to grow significantly in the market for folate over the forecast period. This growth can be ascribed to factors such as rising investment by major market players and increasing adoption of folate in the medical industries across the region. Moreover, the growing usage of folate in the commercial industries for various applications is driving market growth in Asia-Pacific.
Folate Market Competitive Landscape
The market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach with diverse product portfolios. Companies such as Merck KGaA, Gemini Pharmaceuticals Inc., and Emcure Pharmaceuticals Ltd. dominate the market for folate due to product differentiation, financial stability, strategic developments, and diversified regional presence. They also embrace strategic expansion efforts to increase their market position and draw in a sizable consumer base, including product launches, joint ventures, and partnerships.
Some of the major players in the folate market research include Merck KGaA, Gemini Pharmaceuticals Inc., Emcure Pharmaceuticals Ltd., Medicamen Biotech Ltd., Koninklijke DSM N.V., Superior Supplement Manufacturing, Gnosis SPA, Seidler Chemical Co. Inc., Nutritional Supplement Manufacturers Inc., and AIE Pharmaceuticals Inc.
Scope of the Folate Market Report
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Folate Market forecast and size:
To identify and estimate the market size for the Folate market report segmented by type, form, end user, and value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers in the Folate market forecast between 2022 and 2030
Market Trends and Landscape
To identify and infer the drivers, restraints, opportunities, and challenges for the folate market growth
Market Influencing Factors:
To find out the factors which are affecting the Folate market size among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||USD 1.22 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Form, and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Merck KGaA, Gemini Pharmaceuticals Inc., Emcure Pharmaceuticals Ltd., Medicamen Biotech Ltd., Koninklijke DSM N.V., Superior Supplement Manufacturing, Gnosis SPA, Seidler Chemical Co. Inc., Nutritional Supplement Manufacturers Inc., and AIE Pharmaceuticals Inc.|
|Key Market Opportunities||New product launches and rise in R&D activities|
|Key Market Drivers||Increasing demand from the pharmaceuticals industry|
The Folate market forecast period is 2022 - 2030
The market is expected to register a CAGR of 5.57% over the next ten years, according to the Folate market research.
Asia-Pacific is expected to register the highest growth rate during 2022 - 2030
North America held the largest share in 2021.
The major companies operating in the market include Merck KGaA, Gemini Pharmaceuticals Inc., Emcure Pharmaceuticals Ltd., Medicamen Biotech Ltd., Koninklijke DSM N.V., Superior Supplement Manufacturing, Gnosis SPA, Seidler Chemical Co. Inc., Nutritional Supplement Manufacturers Inc., and AIE Pharmaceuticals Inc.