Folic
Acid Market: Overview
Folic
acid is a vitamin B9 and is a type of which is recognized as folate
and is type of vitamins B. Folic acid is used as a nutritional
supplement by women to avoid neural tube imperfections developing
during the time of pregnancy. In addition, folic acid is used for the
treatment of anemia caused by folic acid insufficiency. Folic acid is
a kind of long term supplementation which is also related with small
amount of reductions in the risk of cardiovascular stroke and
disease. Folic acid is taken through mouth or by injection to fulfill
the nutritional deficiency in human body.
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Folic
Acid Market: Drivers & Restraints
The
major factors driving the growth of folic acid market are growing
demand of dietary supplements and growing usage of folic acid in a
wide range of applications ranging from food & beverages to
pharmaceutical rising health awareness among consumers regarding
consumption of healthy food, rising disposable income and increasing
urbanization. Moreover, as folic acid is vital for proper functioning
of brain and plays a key role in emotional and mental health. It
supports in the production of RNA and DNA, the human body essential
genetic material, and is mainly important when tissues and cells are
growing rapidly like in adolescence, infancy, and pregnancy. In
addition, folic acid works narrowly with vitamin B12 help iron work
properly in the body and to make red blood cells. On the other hand,
major factors restraining the growth of folic acid market is high
doses over a long period of time are of concern. There are concerns
that large amounts of folic acid might hide vitamin B12 deficiency.
Folic
Acid Market: Market Segmentation
The
mixed folic acid market is segmented into four parts based on the
type of form, source type, application, and geography.
Based
on the form type of folic acid the functional flours market is
segmented into:
- Tablets
- Soft Gels
- Lozenges
- Others
Based
on the source type the folic acid market is segmented into:
- Vegetables
- Fruits
- Others
Based
on the application type the folic acid market is segmented into:
- Food & Beverages
- Pharmaceutical
- Nutraceuticals
- Others
Folic
Acid Market: Regional Outlook
Regarding
geography, folic
acid market has been categorized into seven key regions including
North America, Western Europe, Eastern Europe, APEJ, Japan, Latin
America, and the Middle East & Africa. Folic acid market is
expected to register healthy CAGR during the forecast period.
Asia-Pacific represents the significantly high market share and grow
with comparatively high CAGR in forecast period. The demand of folic
acid is rising rapidly due the reason that addition of vitamin B9
powder in food grains and pulses to increase folic acid food
fortification has been made compulsory in many developed economies
such as the U.S., New Zealand, UK, and Australia. In addition, rise
in per capita income also supports the growth of folic acid market in
this region. The existence of stringent regulation about consumption
of additional nutraceuticals along with proper diet has been
responsible for demand of folic acid market. Moreover, favorable
regulations and amendments by the European Union are expected to
drive the regional growth over the forecast period. The folic acid
market is projected to register healthy growth due increasing
end-user application across globe and increasing growth of dietary
supplements market. Folic acid market for Asia Pacific is also
expected to witness rapid growth during the forecast period primarily
attributed to the growth of demand of nutritional food products and
rising awareness for healthy food, especially in China and India.
Moreover, advancements in the food service and food processing
industry drive in new opportunities for folic acid market players in
the region.
Folic
Acid Market: Key Players
Some
of the key players identified in the folic acid market are:-
- BASF SE
- Zydus Pharmaceuticals Ltd.
- Medicamen Biotech Ltd.
- Jiangxi Tianxin Pharmaceutical Co. Ltd.
- DSM N.V.
- Emcure Pharmaceuticals Ltd.
- Others
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