The folate market is anticipated to expand at a CAGR of 6.1% from 2023 to 2032.
The folate market was valued at US$ 904 Million in 2022.
The global folate market is driven by four key factors: growing awareness about folate benefits, increase in the prevalence of chronic diseases, rising demand for fortified foods, and growing demand for nutritional supplements.
The largest segment is tablets and capsules owing to to their ease of use and convenient form factor, which allows consumers to easily incorporate folate into their daily routine.
The pharmaceuticals & nutraceuticals is the fastest growing segment owing to the increasing demand for folate supplements, such as multivitamins and mineral supplements, which are commonly used to address folate deficiencies and support overall health.
The fastest growing segment of the global folate market is the South American region, particularly in countries such as Brazil and Argentina. This can be attributed to the growing awareness about the health benefits of folate and the increasing prevalence of chronic diseases in the region.
Major players operating in the global folate market include AIE Pharmaceuticals, Inc., BASF SE, Changzhou, Emcure Pharmaceuticals Ltd., Gemini Pharmaceuticals, Inc., Gnosis SPA, Hebei Jiheng Group Pharmacy Co Ltd., HEMA PHARMACEUTICALS PVT. LTD., Jiangxi Tianxin Pharmaceutical Co. Ltd., Koninklijke DSM N.V, Medicamen Biotech Ltd., Merck, Nantong Changhai Food Additive, Niutang Chemical Plant Co. Ltd., Nutritional Supplement Manufacturers, Inc., Seidler Chemical Co, Inc., Shandong Xinfa Pharmaceutical Co., Superior Supplement Manufacturing, and many more.
The fastest growing segment is gummies. Gummies are a tasty and convenient alternative to traditional forms of folate, making them popular among consumers, particularly children and elderly individuals who may have difficulty swallowing tablets and capsules.
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