Folate Market Size, Share, Growth, and Industry Analysis, By Type (5-MTHF Calcium Salt and 5-MTHF Glucosamine Salt), By Application (Tablets and Empty Capsules), Regional Forecast to 2032

Updated On: 15 April 2024

Report Overview

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The global folate market size was US$ 179 million in 2021. As per our research, the market is expected to generate substantial revenue by 2028, with a CAGR of 20.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the global folate market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Folate is a water-soluble vitamin that is needed for human health. It is also known as vitamin B9 or folic acid. It is essential for several body functions, including cell growth and development, DNA synthesis, and red blood cell creation. Folate is naturally found in a variety of foods, including leafy greens, fruits, legumes, and grains. It is also available as a dietary supplement.

The global folate market includes goods containing folate or folic acid, such as food and drinks, dietary supplements, and medications. The market has been gradually developing in recent years, driven by rising consumer knowledge of the material’s health advantages and rising demand for fortified foods and supplements.

COVID-19 Impact: Pandemic has had a Mixed Impact on the Market Demand

The COVID-19 pandemic has had an influence on the global folate market, with supply chain interruptions and changes in consumer behaviour affecting demand. The pandemic has produced considerable disruptions in the food and beverage industries, including supply chain limitations and a drop in demand for fortified foods and supplements. However, the pandemic has raised consumer awareness of the importance of good health and immunity, leading to a rise in demand for folate-containing dietary supplements. While the pandemic has had an uneven influence on the worldwide folate market, the long-term picture remains optimistic as consumer awareness of folate's health advantages grows.

Latest Trends

"Increasing Demand for Natural and Organic Folate Sources"

The growing demand for natural and organic folate sources, such as plant-based foods and supplements, is one of the most recent developments in the worldwide folate market. Consumers are growing more health-conscious, seeking natural and sustainable alternatives to manufactured and processed goods. As a result, there is an increasing demand for plant-based vitamin sources such as leafy greens, lentils, and fortified plant-based milk products. 

Segmentation

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• By Type Analysis

According to type, the market can be segmented into 5-MTHF calcium salt and 5-MTHF glucosamine salt.

• By Application Analysis

Based on application, the market can be divided into tablets and empty capsules.

Driving Factors

"Increased Prevalence of Chronic Illnesses to augment market growth"

The demand for foods, supplements, and medicines with added folate is being driven by the increased incidence of chronic illnesses such anaemia, heart conditions, and birth defects. The importance of vitamin in preventing and treating chronic disorders is fuelling the market's expansion.

"Growing Health Consciousness and Aging Population to surge market growth"

The demand for foods and supplements high in vitamins is being driven by the aging population's increased knowledge of the value of sustaining good health. With a lower incidence of cognitive decline, cardiovascular disease, and several malignancies, vitamin is crucial for good aging.

Restraining Factors

"Stringent Regulations and Competition to limit the market growth"

The restraining factors for the global folate market include stringent regulations, competition from alternative sources, and potential side effects of high vitamin intake. These factors can limit innovation and growth in the market, and manufacturers must navigate regulatory requirements and address consumer concerns to maintain and expand their folate market share.

Regional Insights

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"Growing Demand in North America and Europe Anticipated to Boost Market Expansion"

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are some of the geographical segments used to segment the global folate market. Due to widespread consumer knowledge and benevolent governmental policies, North America and Europe are the two main markets. Due to an increased demand for fortified foods and supplements, rising disposable incomes, and an aging population, the Asia-Pacific region is anticipated to experience the strongest folate market growth. Due to growing knowledge of the health advantages of vitamins and increased demand for fortified foods and supplements, Latin America and the Middle East & Africa markets are also anticipated to experience considerable growth.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Development"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Gnosis SPA, DSM and Merck.

Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates the market growth.

List of Market Players Profiled

• Gnosis : Desio, Italy
• DSM : Heerlen, Netherlands
• Merck : Darmstadt, Germany

Report Coverage

This report examines an understanding of the global market size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macroeconomic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.