Market Insights:
Folate market is expected to be driven by its growing applications in the food and pharmaceutical industries. Increasing health awareness amongst consumers and high requirement during pregnancy are the factors supporting the growth of the global folate market. Various health agencies are promoting the use of folic acid in food grains, pulses and convenience foods. For instance, the U.S. Public Health Service and CDC recommended that all women of childbearing age must consume 400 mcg of folic acid on daily basis for prevention of serious birth defects in child.
Rising purchasing power of consumers along with their increasing preference for nutraceuticals and convenience foods are likely to escalate the demand for folic acid soon. However, high doses of folate might cause abdominal cramps, diarrhea, rash, sleep disorders, irritability, confusion, nausea, stomach upset, behavior changes, skin reactions, seizures, gas, excitability, and other side effects. Higher intake of folate increases the risk of twin pregnancy and past few incidents of developing cancer. This has led to government interference in the selling of folate-based medicines in the open market to prevent drug abuse. These health hazards can restrict the growth of the global folate market.
Global Key Players:
Ø Anhui Shengda Pharmaceutical Ltd.
Ø Shanghai Fine Chemicals Co., Ltd Inc
Ø Shangdong Hongzhi Biotechnology Co., Ltd
Ø Lincoln Pharmaceuticals
Ø Bio-Med Pvt. Ltd
Ø Zydus Cadila
Ø Koye Pharmaceuticals Pvt Ltd.
Ø Medicamen Biotech Limited.
Ø Emcure Pharmaceuticals Limited
Ø Synokem Pharmaceuticals Ltd.
Ø Jiangxi Tianxin Pharmaceutical Co. Ltd
Ø Synokem Pharma
Ø 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 Folate Industry is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific is leading the global folate market, followed by North America, the Middle East & Africa, Europe, and Latin America.
Asia Pacific accounted for the largest folate market demand due to the high folate deficiency. Countries in Asia Pacific that having a high prevalence of megaloblastic anemia are India, Pakistan, Bangladesh, Sri Lanka. Furthermore, rising disposable income to supplement increasing health awareness is augmented the folate demand.
North America accounted for the second largest market for folate due to developed health awareness and high disposable income. For instance, fortification of folic acid to wheat flour is now mandatory in the U.S. and Canada.
The Middle East & Africa is anticipated to witness a high demand for folate to curb the increasing cases of anemia. Furthermore, the folate market is relatively mature in Europe and Latin America and is expected to remain same over the forecast period.
Intended Audience
- Folate market manufacturers
- Traders and distributors of folate
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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