The global folate market size was estimated to be US$ 904 Million in 2022 and is expected grow at a CAGR of 6.1% between 2023 to 2032.
Folate, also known as vitamin B9, is a water-soluble vitamin that is important for a variety of functions in the body. It helps in the formation of red blood cells and helps in the production of DNA, which is the genetic material in cells.
It also plays a role in the metabolism of homocysteine, which is an amino acid that can cause damage to blood vessels and lead to heart disease if its levels are too high. Folate also helps in the production of neurotransmitters, which are chemicals in the brain that play a role in mood and behavior. Overall, folate is essential for growth, development, and overall good health.
Major drivers for growth:
Growing demand for nutritional supplements is driving the market growth
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. Consumers are becoming more health-conscious and seeking out folate-rich foods and supplements, which has driven the demand for folate-rich products.
Folate is considered an essential nutrient for proper cell growth and function and is known to play a crucial role in the prevention and management of chronic diseases, such as heart disease, cancer, and diabetes. The increasing popularity of fortified foods and nutritional supplements, including multivitamins and mineral supplements, has also driven the growth of the global folate market. With continued growth in demand for folate, the global folate market is expected to continue its growth trajectory in the coming years.
Form segmentation of Global Folate Market:
Growing demand for gluten-free options is driving the growth of gummies segment
On the basis of form the market is segmented into tablets, capsules, powder, lozenges, gummies, and other forms. Among these 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. Tablets and capsules are also widely available and have a longer shelf life, making them a popular choice among consumers.
While 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. Additionally, the growing demand for vegetarian and gluten-free options has also contributed to the growth of the gummies segment, as gummies are often made with alternative sweeteners and are free from gluten and other allergens.
End-user segmentation of Global Folate Market:
Food & beverage segment is also driven by the growing demand for functional foods
On the basis of end-user the market is segmented into food & beverages, pharmaceuticals & nutraceuticals, agriculture & feed, and other end-users. Among these the largest segment is the food & beverages segment owing to the increasing demand for fortified foods and beverages, such as fortified cereals, pasta, and juices, which are considered an affordable and convenient way to increase folate intake.
In addition, the food & beverage segment is also driven by the growing demand for functional foods and beverages that offer health benefits, such as increased energy, improved digestion, and enhanced overall health.
While, 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.
In addition, the pharmaceuticals & nutraceuticals segment is also driven by the increasing demand for personalized nutrition and the growing trend towards personalized healthcare, as consumers seek to tailor their nutritional needs to their individual health status.
Regional trends of the Global Folate Market:
Growing health-conscious population is driving the growth of the folate market in South-America
Geographically the global folate market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Among these, the largest segment is Asia Pacific, followed by North America and Europe. This can be attributed to the large populations in countries such as China and India, where there is a growing awareness about the importance of folate for health and wellness.
Additionally, the increasing prevalence of chronic diseases and the growing demand for fortified foods and nutritional supplements in these countries have also driven the growth of the folate market in the Asia Pacific region.
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. Additionally, the increasing demand for fortified foods and nutritional supplements in these countries, driven by the growing health-conscious population, has also contributed to the growth of the folate market in South America.
Key players and market strategies:
The global folate market is highly competitive, with a large number of companies operating in the industry. Companies operating in this market are adopting various growth strategies to stay ahead of their competition and tap into new market opportunities.
Some of the key growth strategies adopted by companies in the global folate market include product innovation, strategic partnerships and collaborations, and market expansion.
Product innovation is a key growth strategy adopted by companies in the global folate market. Companies are launching new and innovative products that cater to the evolving needs of consumers.
For instance, companies are launching plant-based and organic folate supplements, as well as new forms of folate supplements such as gummies, lozenges, and chewable tablets. Strategic partnerships and collaborations are also a key growth strategy adopted by companies in the global folate market.
Companies are partnering with other companies in the food and beverage industry to launch new fortified products and expand their reach. Market expansion is another key growth strategy adopted by companies in the global folate market. Companies are expanding their operations into new and untapped markets to tap into new opportunities and increase their market share.
Some of the biggest companies operating in the global folate market are 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.
Market Segmentation:
By Type
- 5-MTHF Calcium Salt
- 5-MTHF Glucosamine Salt
By Form
- Tablets
- Capsules
- Powder
- Lozenges
- Gummies
- Others
By End-User
- Food & Beverages
- Pharmaceuticals & Nutraceuticals
- Agriculture & Feed
- Others
By Region
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
