Folic Acid Market Size, Share | Industry Report 2024

Global Folic Acid Market was valued at $430 Million in 2015 and is estimated to grow at a CAGR of over 4.2% from 2016 to 2024.

Increasing vitamin B9 consumption in pharmaceuticals and food & beverages along with growing awareness among consumers is anticipated to bolster folic acid demand over the forecast period.

Folic acid is a synthetic folate compound utilized in vitamin supplements and fortified food owing to its excellent stability. The European Food Safety Authority (EFSA) has listed the benefits regarding dietary consumption of folate such as normal cell division, better amino acid synthesis and proper blood formulation.

Upgraded medical technologies have enabled the production of high-quality folic acid tables that are recommended for intake during pregnancy. Population outburst coupled with improved healthcare facilities in developing region of Asia Pacific and Latin America is a key factor driving market growth.

The possible benefits to be drawn from vitamin B9 ranges from producing nucleic acids, increased cell growth in infants to control blood levels of the amino acid homocysteine. Addition of folic acid in food grains is obligatory in developed countries such as the U.S., UK and Australia. This factor is projected to trigger folic acid demand significantly over the forecast period.

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Key findings from the study: -
• Global Folic Acid Market was valued at $430 Million in 2015 and is estimated to grow at a CAGR of over 4.2% from 2016 to 2024.
• Asia Pacific emerged as the fastest growing regional market, growing at an estimated CAGR of 4.4% from 2016 to 2024.
• Some of the key players operating in global folic acid market arena include BASF SE, DSM N.V., Emcure Pharmaceuticals Ltd., Hebei Jiheng Group Pharmacy, Medicamen Biotech Ltd., and Zydus Pharmaceuticals Ltd. Other market participants include Jiangxi Tianxin Pharmaceutical Co. Ltd., Changzhou Niutang Chemical Plant Co. Ltd., Shangdong Xinfa Pharmaeutical Co. Ltd.

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