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.
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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. 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 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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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
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Soft Gels
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- Food & beverages
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Folic Acid market.
- To provide insights about factors affecting the market growth. To analyze the Folic Acid market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
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