Folate Market Trend, Share, Growth, Size and Demand 2030

Industry Prospective:

The global folate market size was worth around USD 789.3 million in 2022 and is predicted to grow to around USD 1113.4 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.5% between 2023 and 2030. The report analyzes the global folate market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the folate industry.  

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Folate Market: Overview

Folate, also known as vitamin B9 or folic acid, is an essential nutrient that belongs to the B-vitamin family. It is a water-soluble vitamin, which means it dissolves in water and is not stored in the body to a significant extent. Therefore, it needs to be consumed regularly through the diet to maintain adequate levels. Folate plays an important role in different bodily functions, including the production of DNA & RNA, the formation of red & white blood cells, and the metabolism of amino acids. It is most important during periods of rapid cell division and growth, such as infancy, pregnancy, and puberty. One of the critical functions of folate is its involvement in the synthesis and repair of DNA, the genetic material of cells. It helps in the production of new cells, especially red blood cells, which carry oxygen throughout the body. Folate is also necessary for proper brain function and the production of neurotransmitters.

Key Insights

• As per the analysis shared by our research analyst, the global folate market is estimated to grow annually at a CAGR of around 3.5% over the forecast period (2023-2030).
• In terms of revenue, the global folate market size was valued at around USD 789.3 million in 2022 and is projected to reach USD 1113.4 million, by 2030.
• Increasing awareness about the importance of folic acid supplementation is likely to drive the folate market growth during the forecast period.
• Based on the product type, the folic acid segment is expected to capture the largest market share during the forecast period.
• Based on the application, the nutraceuticals segment is projected to grow at a significant rate during the forecast period.
• Based on the end users, the supplements segment is expected to capture the largest revenue share over the forecast period.
• Based on region, North America is expected to dominate the market during the forecast period.

Folate Market: Growth Drivers

Increasing awareness about the importance of folic acid supplementation

Folate plays a critical role in fetal development, particularly in the early stages of pregnancy when the neural tube is forming. Insufficient folate intake during pregnancy can lead to neural tube defects in infants, such as spina bifida. As a result, there has been a growing emphasis on the importance of folic acid supplementation for women who are planning to conceive or are in the early stages of pregnancy. Healthcare professionals, including obstetricians and gynecologists, are actively promoting the use of folic acid supplements to ensure optimal folate levels in expectant mothers. Additionally, many countries have implemented public health campaigns and educational programs to raise awareness about the benefits of folic acid supplementation.

Rising prevalence of chronic diseases and the increasing adoption of a healthy lifestyle will further drive the global folate market expansion. Chronic diseases, such as cardiovascular disease, cancer, and neurological disorders, have become major health concerns worldwide. Folate plays a crucial role in maintaining overall health and preventing the development of these conditions. Adequate folate intake has been associated with a reduced risk of heart disease, certain types of cancer (such as colorectal and breast cancer), and age-related cognitive decline.

Folate Market: Restraints

Side effects and tolerability issues associated with folate supplementation.

Some individuals may experience side effects or have difficulty tolerating high doses of folate supplements. Common side effects include digestive issues such as nausea, bloating, and diarrhea. These side effects can be particularly problematic for individuals with sensitive digestive systems or underlying gastrointestinal conditions. Furthermore, certain individuals may have specific medical conditions or genetic variations that affect their ability to process and utilize folate effectively. For example, individuals with impaired folate metabolism or specific genetic mutations may require different forms of folate supplementation or personalized dosing regimens.

Folate Market: Opportunities

The increasing demand for fortified and functional foods with added nutritional value.

Consumers are increasingly seeking out products that offer health benefits beyond basic nutrition. There is a rising interest in foods that are fortified with essential vitamins and minerals, including folate. Fortified foods provide a convenient way for individuals to incorporate necessary nutrients into their diets, especially for those who may have difficulty meeting their nutritional needs through regular dietary intake alone. The demand for functional foods, which have additional health-promoting properties, is also on the rise.

Functional foods fortified with folate can cater to specific consumer needs, such as products targeted toward prenatal nutrition, cognitive health, or cardiovascular support. By incorporating folate into functional food formulations, manufacturers can tap into niche markets and cater to the diverse preferences and health goals of consumers. All these factors are projected to bring up growth opportunities for the folate industry.

Folate Market: Challenges

lack of awareness and education about the importance of folate and its sources.

Despite the essential role of folate in maintaining health, there is still a lack of widespread awareness and understanding of its benefits. Many individuals, particularly in certain demographic groups or regions, may not be aware of the need for adequate folate intake or the consequences of folate deficiency. This lack of awareness can result in suboptimal folate levels and associated health risks, thereby challenging the folate market expansion.

Folate Market: Segmentation

The global folate industry is segmented based on product type, application, end users, and region.

Based on the product type, the global market is bifurcated into folic acid, natural folate. The folic acid segment is expected to capture the largest market share during the forecast period. Folic acid fortification programs have been implemented by many countries as a public health measure to prevent neural tube defects (NTDs) in newborns. NTDs are serious birth defects of the brain and spine, and adequate folic acid intake before and during early pregnancy can reduce the risk. Folic acid fortification typically involves adding the vitamin to staple foods such as cereals, bread, pasta, and flour.

Based on the application, the global folate industry is divided into the food industry, nutraceuticals, and pharmaceuticals. The nutraceuticals segment is expected to dominate the market over the forecast period. Nutraceuticals are products that combine the properties of food and pharmaceuticals, offering health benefits beyond basic nutrition. This segment includes dietary supplements, functional foods, and beverages enriched with bioactive compounds, vitamins, minerals, and herbal extracts. The market share of nutraceuticals has been growing steadily, driven by increasing consumer awareness of preventive healthcare, wellness trends, and the desire for natural alternatives. However, while the nutraceuticals market is expanding, it may not surpass the overall market size of the food industry or pharmaceuticals.

 Based on the end user, the market is segmented into fortified foods, baby foods, and supplements. The supplements segment is expected to capture the largest revenue share during the forecast period. Dietary supplements encompass a wide range of products, including vitamins, minerals, herbal supplements, and other nutritional additives. These products are typically consumed in addition to the regular diet to fulfill specific nutritional needs or support overall health and well-being. Supplements can be found in various forms such as capsules, tablets, powders, and liquids. The market share of supplements can also be significant, fueled by factors such as rising health consciousness, an increasingly aging population, and the desire for preventive healthcare.

Recent Developments:

• In 2020, GlaxoSmithKline (GSK) and Pfizer Merger, GSK, and Pfizer combined their consumer healthcare businesses into a joint venture. The merger created a new entity, GSK Consumer Healthcare, with a strong presence in the global consumer healthcare market, including vitamins and dietary supplements.

Folate Market: Report Scope

Folate Market: Regional Analysis

North America is expected to dominate the market during the forecast period

The North American region, including the United States and Canada, is a significant region in the global folate market. It is characterized by a developed healthcare infrastructure, a high level of consumer awareness, and a strong focus on preventive healthcare and wellness. In the context of the folate market, North America has a substantial market share, driven by the demand for dietary supplements, fortified foods, and pharmaceuticals.

Europe is another important market for folate products. The region has a well-established food and beverage industry, and there is growing consumer awareness regarding the importance of folate in maintaining overall health. European countries may have different regulations and guidelines for folic acid fortification and the use of natural folate in food products, which can influence market dynamics.

Folate Market: Competitive Analysis

The global folate market is dominated by players like:

• DSM Nutritional Products
• BASF SE
• Gnosis by Lesaffre
• Merck KGaA
• Zhejiang Shengda Bio-Pharm Co. Ltd.
• Jubilant Life Sciences Ltd.
• NattoPharma
• NBTY Inc. (Nature's Bounty Co.)
• Pharmavite LLC
• NOW Health Group Inc.

The global folate market is segmented as follows

By Type

• Folic Acid
• Natural Folate

By Application

• Food industry
• Nutraceuticals
• Pharmaceuticals

 By End-user

• Fortified Foods
• Baby Foods
• Supplement

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa