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.
Folic acid also known as folate plays a vital role in human body functioning. Folic acid facilitates rapid generation of red blood cells which transport oxygen throughout the body. They aid synthesis and repair of RND, DNA and other genetic components of the body and reduces the risk of developing Hypertension among adults. Recent studies have shown that folate prevents changes in the DNA which are largely associated with development of cancer tumours. Pregnant women are advised to take folic acid supplements regularly as it helps reduce the birth defects also known as Neural Tube defects (NTDs) such as anencephaly and spina bifida. They further inhibit the pre-mature deliveries of babies as well miscarriages.
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Key Players:
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.
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.
- 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.
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Market Segmentation:
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
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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Objective of Studies:
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Folic Acid market.
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