The global folic acid market is estimated to grow at a CAGR of nearly 4.5% during the forecast period. The major factors contributing to the market growth include a significant prevalence of anemia and emerging applications in pharmaceuticals and dietary supplements. As per the World Health Organization (WHO), 42% of children below 5 years of age and 40% of pregnant women globally are anemic. As per the World Bank, in 2016, there were 32.8% women of reproductive age (15-49) suffering from anemia globally. Nutritional deficiencies, especially iron deficiency, deficiencies in folate, and lack of vitamins A and B12 are some major causes of anemia.
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Anemia is caused by either a reduction in the production of red blood cells or hemoglobin or rise in the loss or destruction of red blood cells. These results in an emerging demand for folic acid (Vitamin B9) that enables the body to make healthy red blood cells. Certain foods and drinks, such as dark green vegetables and citrus juices, are primarily good sources of folate, which is highly crucial in women of childbearing age. During pregnancy, a folate deficiency can lead to birth defects. Most people get an adequate amount of folate from food. Several foods contain additional folate which is in the form of folic acid, for prevention of deficiency.
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However, folic acid-based supplements are suggested for women who may become pregnant. In pregnant women, it enables proper development of unborn baby's brain, spinal cord, and skull to avoid development problems such as spina bifida. Therefore, in the case of women who are pregnant or trying for a baby, it is recommended to take folic acid until they are 12 weeks pregnant that supports the baby to grow normally. The normal dose for most women during the first 12 weeks of pregnancy and who are trying to get pregnant is 400 micrograms, taken once a day.
When there is a higher risk of neural tube defects during pregnancy, the doctor recommends a higher dose of 5 mg in a day. Owing to the increasing folate-deficiency, the food and beverage manufacturers and providers of dietary supplements are adding folic-acid to foods such as enriched grain products and fortified foods and supplements to meet the demand for adequate folic acid in deficient population. Additionally, the emerging focus on folic acid in cosmetics applications is expected to offer an opportunity for market growth.
Market Segmentation
Global Folic Acid Market by Form
• Tablets
• Capsules and Softgels
• Powder
• Others
Global Folic Acid Market by Application
• Dietary Supplements
• Pharmaceuticals
• Food and Beverages
• Others
Regional Analysis
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
Rest of the World
Company Profiles
• Accord-UK Ltd.
• Amway Corp.
• BASF SE
• Cadila Healthcare Ltd.
• Changzhou Yabang Pharmaceutical Co., Ltd.
• Cipla Ltd.
• Cytoplan Ltd.
• Elmed Life Sciences Pvt. Ltd.
• Emcure Pharmaceuticals Ltd.
• General Nutrition Corp. (GNC)
• Healthy Hey LLP
• INLIFE Pharma Pvt. Ltd.
• Jiangxi Tianxin Pharmaceutical Co., Ltd.
• Kirkman Group Inc.
• Koninklijke DSM N.V.
• Medicamen Biotech Ltd.
• Merck KGaA
• NOW Health Group, Inc.
• The Nature's Bounty Co.
• West-Coast Pharmaceutical Works Ltd.
• Xinfa Pharmaceutical Co., Ltd.
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