Market Overview:
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. A diet high in folate-rich
foods can help to prevent cancer, heart disease, birth defects, anemia,
and cognitive decline. Food and pharmaceutical industry is expected to witness high
demand for folate due to rising health awareness.
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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.
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 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.
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