Global Folic Acid Market Dynamics, Application Share, Growth, Vendor Competition, Trends and Forecast 2018-2025
The consumption of folic acid is estimated to witness a rapid growth over the forecast period owing to its high medicinal value. The folic acid market holds several vital factors such as increasing health consciousness coupled with growing awareness level regarding the significance of folic acid for maintaining good health. This is indeed supporting the growth of folic acid market.
Previously in 2018, the global folic acid market size was valued at USD xx million and estimated to project the value of USD xx million in 2025 with a CAGR of x.x% during the forecast period.
Folic acid has been promoted by various health agencies such as U.S. Public Health Service and CDC recommended that every individual women of childbearing age should compulsorily consume 0.4 mg (400 micrograms) of folic acid on daily basis for prevention of serious birth defects in child.
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The global folic acid market is divided on the basis of application and geography. On the basis of an application, the market is segmented into nutraceuticals, food & beverage and others. Due to the wide usage in the nutrition therapy, pharmaceutical application of folic acid is expected to drive the high demand in the market. Folic acid is believed to be one of the most essential nutrient which can be commonly seen in leafy vegetables, broccoli, corn, cereal, oranges, peas, and green meats. It is highly beneficial in treating urinary, cardiovascular system disorders, nervous system, and many more.
Geographically, folic acid market is primarily segmented into region such as Middle East and Africa, Western Europe, North America, Japan, Asia-Pacific, and Latin America. Asia Pacific is estimated to witness a major share in the folic acid market during the current period. Due to the high market share of Asia Pacific region, the market is experiencing the same demand from China, India, and Japan. North America is expected to be second largest market share all over the globe during the forecast period resulting to the efficient consumption of folic acid due to the high health benefits.
Leading players in the global folic acid market include D SM N.V., Emcure Pharmaceuticals Ltd., Zydus Pharmaceutical Ltd., Medicamen Biotech Ltd., BA SF SE, Jiangi Tianxin Pharmaceuticals Co. Ltd., and more others.
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