Folate Market Growth 2022-2030:
Folate also known as vitamin B9. It is one of many essential vitamins needed for synthesizing DNA, producing new RBCs, and supporting nerve and immune functions. As a water-soluble vitamin B, it’s naturally present in some foods, added to other foods by fortification, and available as a dietary supplement in the form of folic acid.
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Market segmentation:
The global folate market is segmented based on sources, type, and end-use industry.
On the basis of the sources, the global folate market is categorized into natural food sources, fortified foods, and dietary supplements. The natural and dietary supplements are consumed majorly as compared to fortified forms of folates due to increasing demand for nutrition amongst consumers.
On the basis of the type, the global folate market is segmented into food folate, folic acid, 5 MTHF calcium salts, and 5 MTHF glucosamine salt. Amongst these types, the folic acid market is driving the global folate market due to increasing health awareness amongst consumers. However, easy absorption advantages of 5 MTHF calcium salts and 5 MTHF glucosamine salt is expected to witness high demand in the near future.
On the basis of end-use Industry, the global folate market growth can be segmented into the food industry and pharmaceutical industry. Both the food and nutraceuticals industries are expected to witness a high growth owing to the shift in the consumer preference towards health and nutrition.
Regional Analysis:
The global folate market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East Africa. The Asia Pacific is leading the global folate market, followed by North America, the Middle East Africa, Europe and Latin America. Rising health concerns and government schemes to combat folate deficiency is projected to boost the global folate market over the forecast period.
Competitive Analysis:
The leading market players in the global folate market are Zydus Cadila, Koye Pharmaceuticals Pvt Ltd., Medicamen Biotech Limited., Emcure Pharmaceuticals Limited, Synokem Pharmaceuticals Ltd., Jiangxi Tianxin Pharmaceutical Co. Ltd., Anhui Shengda Pharmaceutical Ltd., Shanghai Fine Chemicals Co., Ltd Inc, Shangdong Hongzhi Biotechnology Co., Ltd, Lincoln Pharmaceuticals, Bio-Med Pvt. Ltd, Synokem Pharma, and Glyco Labs.
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