Global Folic Acid in Food Market, By Form Type (Tablets, Soft Gels, Lozenges, Others), Source Type (Vegetables, Fruits, Others), Application (Food and Beverages, Dietary Supplements, Pharmaceutical, Nutraceuticals, Others) – Industry Trends and Forecast to 2029.
Folic Acid in Food Market Analysis and Size
The use of advanced medical technologies to produce high-quality folic acid tablets for use as an essential supplement during pregnancy is expected to positively impact future market growth.
Data Bridge Market Research analyses that the folic acid in food was valued at 712.4 million in 2021 and is expected to reach the value of USD 1308.87 million by 2029, at a CAGR of 7.90% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Folic Acid in Food Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Form Type (Tablets, Soft Gels, Lozenges, Others), Source Type (Vegetables, Fruits, Others), Application (Food and Beverages, Dietary Supplements, Pharmaceutical, Nutraceuticals, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Glanbia plc. (Ireland), Now Foods. (U.S.), Nutiva Inc (U.S.), The Simply Good Foods Company (U.S.), Iovate Health Sciences International Inc. (Canada), MusclePharm (U.S.), Kerry Group Plc (Ireland), CMTC (U.S.), Nature's Bounty (U.S.), Reliance Private Label Supplements (U.S.), Herbalife Nutrition, Inc. (U.S.), Danone SA (France), GNC Holdings LLC (U.S.), Orgain Inc. (U.S.), True Nutrition (U.S.)
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Opportunities
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Market Definition
Folic acid is a water-soluble form of vitamin B9 that can be found in a variety of foods. It is also added to foods and marketed as a supplement in the form of folic acid; this form absorbs better than food sources (85% vs. 50%). Folic acid helps to form DNA and RNA and has an impact on protein metabolism. It is required for the breakdown of homocysteine, an amino acid that, in high concentrations, can be fatal to the body. Folic acid is also required for the production of healthy red blood cells and is especially important during periods of rapid growth, such as pregnancy and foetal growth.
Global Folic Acid in Food Market Dynamics
Drivers
- Growing demand of folic acid in prenatal phase
The need for folic acid for pregnant women in their early stages of pregnancy is a major driver in the global folic acid in food market. Every day, women of reproductive age require at least 400 mcg of folic acid. The Centres for Disease Control and Prevention (CDC) recommends that women who have had neural tube defects consume at least 4100 mcg per day one month before becoming pregnant again. During the forecast period, this factor is expected to drive the global folic acid in food market.
- Growing cases of folic acid deficiencies around the world
A significant increase in the number of people suffering from folic acid deficiencies fuels the folic acid in food market. Folic acid deficiency causes a variety of serious diseases, including anaemia, digestive issues, and abnormal DNA division. Folic acid is also beneficial in the treatment of eye and kidney disease. It aids in detoxification and tissue regeneration. Its numerous health benefits facilitate its use in the pharmaceutical and nutraceutical industries.
Opportunity
The addition of new products with higher grades to the product portfolio is expected to increase demand for these items. Due to the consumer patterns and preferences, key market players are introducing new variants while focusing on brand loyalty. They are expanding their customer base and diversifying their operations.
Restraints
However, the continuously rising prices and numerous side effects associated with excessive folic acid consumption, such as allergies, vomiting, and breathing problems, are likely to impede the growth of folic acid in the food market during the forecast period.
This folic acid in food market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the folic acid in food market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Folic Acid in Food Market
During the Covid-19 period, the pandemic affected the majority of the world's critical markets. Covid-19 has had little influence on the folate market. Supply chain disruption, fluctuations in raw material supply, insufficient manpower in the manufacturing facility, and low demand from end-use customers hampered target industry growth in developed and emerging economies worldwide as a result of covid-19.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Development
- In May 2019: Merck launched a new and improved proprietary product called ArcofolinTM L-Methylfolate, which is a monosodium salt of L-5-methyltetrahydrofolic acid for nutritional and pharmaceutical applications. It is the most common form of folate found in nature.
Global Folic Acid in Food Market Scope
The folic acid in food market is segmented on the basis of form type, source type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form type
- Tablets
- Soft Gels
- Lozenges
- Others
Source
- Vegetable
- Fruits
- Others
Application
- Food and Beverages
- Dietary Supplements
- Pharmaceutical
- Nutraceuticals
- Others
Folic Acid in Food Market Regional Analysis/Insights
The folic acid in food market is analysed and market size insights and trends are provided by country, form type, source type and application as referenced above.
The countries covered in the folic acid in food market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the folic acid in food market due to high demand from emerging nations such as India and China and the presence of various domestic and international market players in the region. From 2022 to 2029, North America is expected to grow due to increased demand from the pharmaceutical industry and rising awareness of the region's health benefits.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Folic Acid in Food Market Share Analysis
The folic acid in food market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to folic acid in food market.
Some of the major players operating in the folic acid in food market are:
- Glanbia plc. (Ireland)
- Now Foods. (U.S.)
- Nutiva Inc (U.S.)
- The Simply Good Foods Company (U.S.)
- Iovate Health Sciences International Inc. (Canada)
- MusclePharm (U.S.)
- Kerry Group Plc (Ireland)
- CMTC (U.S.)
- Nature's Bounty (U.S.)
- Reliance Private Label Supplements (U.S.)
- Herbalife Nutrition, Inc. (U.S.)
- Danone SA (France)
- GNC Holdings LLC (U.S.)
- Orgain Inc. (U.S.)
- True Nutrition (U.S.)
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