Global Folate Market to Generate a Revenue of USD 1113.4 Million By 2030

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.

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.

This review is based on a report by Zion Market Research, titled "Folate Market By Type (Folic Acid, Natural Folate), By Application (Food Industry, Nutraceuticals, Pharmaceuticals), By End-User (Fortified Foods, Baby Foods, Supplements), And By Region – Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts For 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/folate-market

Increasing demand for folate in the food and beverage industry will likely spur the growth of the global folate market during the forecast period. Folate is naturally found in various food sources such as leafy greens, legumes, citrus fruits, and fortified cereals. It is an essential nutrient required for proper growth, development, and overall health. As consumers become more health-conscious and seek nutritious food options, the demand for folate-enriched or fortified products is rising. Food manufacturers are incorporating folate into their product formulations to meet consumer demand for healthier choices.

Increasing competition from alternatives will hamper the growth of the folate industry during the coming period. Folate is naturally present in various food sources, and alternative sources of nutrition or supplementation, such as other vitamins or minerals, can compete with folate products. Consumers' preferences and choices can vary, leading to competition from other nutrients or products targeting similar health benefits.

Rising demand for dietary supplements is on the rise offering numerous growth avenues for the global folate market. This expansion is mainly driven by factors such as increasing health consciousness, busy lifestyles, and the desire for convenience. Folate supplements are sought after for their potential health benefits, including supporting prenatal health, cardiovascular health, and cognitive function. The market has an opportunity to cater to the growing demand for folate supplements.

Challenges faced in regulatory and labeling requirements are likely to impact the folate industry growth negatively to a certain extent. Different regions have varying regulations and guidelines regarding folate fortification, labeling, and health claims. Adhering to these requirements can be complex, requiring manufacturers to navigate through different regulatory frameworks and ensure compliance with labeling standards.

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.

The folate market is projected to witness the highest growth in the North American region, mainly the United States and Canada. It is characterized by a developed healthcare infrastructure, a high level of consumer awareness, and a strong focus on preventive healthcare and wellness. Further, the regional market share is also 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.

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: 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

About Us:
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com