Global Folic Acid Market Size, Share, and COVID-19 Impact Analysis, By Product (Food & Beverages, Pharmaceuticals, Nutraceuticals, and Others), By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

Global Folic Acid Market Insights Forecasts to 2033

• The Global Folic Acid Market Size was Valued at USD 0.89 Billion in 2023
• The Market Size is Growing at a CAGR of 6.1% from 2023 to 2033
• The Worldwide Folic Acid Market Size is Expected to Reach USD 1.62 Billion by 2033
• Asia-Pacific is expected to grow the fastest during the forecast period.

The Global Folic Acid Market Size is anticipated to exceed USD 1.62 billion by 2033, growing at a CAGR of 6.1% from 2023 to 2033.

Market Overview

A popular water-soluble version of vitamin B is also classified as folic acid which is very crucial for making red blood cells. The natural version of folate in food is called a naturally occurring folic acid, and it naturally occurs in many foods like green and leafy vegetables, nuts, beans, fruits or fruit juices, peas, or dairy products. Folic acid is supplemented by many food products and in the form of a dietary supplement. Rising health consciousness and the growth of populations bearing higher birth rates along with the expansion of the healthcare industries are expected to propel the market for folic acid in the future. Government initiatives on maternal health, the growing vegan population that requires supplements, and technological advancement in biomedical applications are major growth factors. Some possible prospects might come up with the application expansion of personalized nutrition and functional foods as trends grow on health-tailored solutions. Innovations would probably include developing folic-acid-rich biofortified crops and research that deals with the delivery mechanisms of improving bioavailability using nanoencapsulation. Opportunities can be developed by expanding further applications into personalized nutrition as well as function foods-considering the growing trends of tailored health solutions.

Report Coverage

This research report categorizes the global folic acid market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global folic acid market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global folic acid market.

Driving Factors

One of the major driving factors contributing to the growth of the market is an increased requirement for dietary supplements. The consumption of folic acid, particularly in an increasingly wide range of food and beverages to pharmaceuticals applications is likely to stimulate the requirement in the market of the folic acid market. In addition, the health consciousness among consumers in consuming healthy food, increased disposable incomes, and rapid urbanization are also contributing to the growing folic acid market growth rate. Further, an increase in health awareness amongst consumers and further usage in the development and production of genetic material like DNA and RNA has also been counted among such factors that will support the increasing growth rate of the market for folic acid.

Restraining Factors

The growing concern over a long period regarding high doses, as large amounts of folic acid may mask vitamin B12 deficiency, which is expected to hinder the growth rate of the folic acid market.  

Market Segmentation

The global folic acid market share is classified into product and distribution channel.

• The food & beverages segment is projected to hold the largest share of the market during the forecast period.

Based on the product, the global folic acid market is categorized into food & beverages, pharmaceuticals, nutraceuticals, and others. Among these, the food & beverages segment is projected to hold the largest share of the market during the forecast period. The growth can be attributed to the food manufacturers actively fortifying their products with supplementary folic acid, thus helping the consumers achieve their daily intake.

The online segment is expected to grow at the fastest CAGR during the forecast period.

Based on the distribution channel, the global folic acid market is categorized into online and offline. Among these, the online segment is expected to grow at the fastest CAGR during the forecast period.  Factors like digital marketing growth, development in delivery logistics, and awareness of folic acid health benefits will lead to increased sales in the online segment. Manufacturers and suppliers can increase their online presence and adapt to improved digital marketing strategies to achieve greater market penetration.

Regional Segment Analysis of the Global Folic Acid Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global folic acid market over the forecast period.

North America is projected to hold the largest share of the global folic acid market over the forecast period. It is due to key investments in product innovation, and also, research and development facilities, which gives an edge to the region. Other factors such as the high base of manufacturing along with advanced technologies and skills adopted further strengthen its position in the North America market. These factors plus a supporting regulatory environment in the coming years are likely to spur large-scale regional growth.

Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period. The growth can be attributed to the rising health awareness of folic acid benefits, especially with regard to the prevention of neural tube defects and maintenance of overall well-being. The region has a largest and expanding population, accompanied by rising disposable incomes, and is a driving force behind the demand for nutritional supplements, primarily among pregnant women and preventive care-oriented individuals. The governments of several countries are taking initiatives towards promoting nutritional programs and food fortification, thereby fueling the adoption of folic acid in different products. The expansion of pharmaceutical and nutraceutical industries, along with rapid urbanization and dietary changes, are further supporting the growth of the market.

Competitive Analysis

The report offers the appropriate analysis of the key organizations/companies involved within the global folic acid market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Medicamen Biotech Ltd.
• Emcure Pharmaceuticals Ltd.
• Zydus Pharmaceuticals Ltd.
• BASF SE
• Jiangxi Tianxin Pharmaceutical Co. Ltd.
• Changzhou Niutang Chemical Plant Co. Ltd.
• Shandong Xinfa Pharmaceutical Co., Ltd.
• Hebei Jiheng Group Pharmacy Co Ltd.
• Xinjiang Wujiaqu Xingnong Cycle Chemical Co. Ltd.
• Nantong Changhai Food Additive
• Others

 Key Market Developments:

• In June 2024, Balchem Corporation, a U.S.-based human nutrition and specialty products company, launched a new choline-enriched folate in the U.S. dietary supplements market. The new supplement helps in empowering cellular health during pregnancy and child development.

• In October 2021, Danone India, a leading food company, launched AptaGrow's line of products tailored to meet the requirements of Indian children. The product launched under AptaGrow contains essential nutrients, including prebiotics and vitamins A, C, D, DHA, Iron, Folic Acid, and Iodine.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global folic acid market based on the below-mentioned segments: 

Global Folic Acid Market, By Product

• Food & Beverages
• Pharmaceuticals
• Nutraceuticals
• Others

Global Folic Acid Market, By Distribution Channel

• Online
• Offline

Global Folic Acid Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa