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.
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Its supplements can be used for treating the deficiency of folate, and it is also helpful in treating leg ulcers and certain menstrual issues. Thus, increasing demand for dietary supplements and the continuous expansion of the pharmaceutical sector are propelling the market growth. Continuous focus on RD 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.
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
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Some of the Leading Market Players Are Listed Below:
- Zydus Pharmaceuticals Ltd.,
- BASF SE,
- Jiangxi Tianxin Pharmaceutical Co. Ltd.,
- Medicamen Biotech Ltd.,
- Emcure Pharmaceuticals Ltd,
- DSM N.V,
- Shandong Xinfa Pharmaceutical Co., Ltd.
- Others
The Folic Acid market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Folic Acid market.
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The global Folic Acid market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation:
Grade Outlook (Revenue, USD Billion; 2017-2027)
- Pharmaceutical Grade
- Food Grade
- Others
Form Outlook (Revenue, USD Billion; 2017-2027)
- Soft Gels
- Lozenges
- Tablets
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Food beverages
- Pharmaceutical
- Nutraceutical
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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