Folic acid is a water soluble vitamin and is also known as vitamin B9.Human body is not able to make folic acid,so it is taken in the form of health supplements and tablets in the body. Its consumption helps in the division of tissues needed for the proper functioning of the body.It has wide applications in the pharmaceutical & food & beverages industry due to its medicinal properties.The high demand for mineral-rich readymade foods fosters the growth of the folic acid market globally.
Covid-19 Scenario Analysis:
- The inclination of people toward the immunity boosting health supplements is expected to strengthen the sales of folic acid products post covid-19.
- The shift of preference from animal based food to plant based food drives the market growth.
- As far as the current situations are concerned,the impaired supply chain is not feasible enough to meet the requirements of the people.
- Focusing on expanding E-commerce sales can boost the sales post COVID-19.
Top Impacting Factors:Market Scenario Analysis, Trends, Drivers andImpact Analysis
A considerable increase in the population of people suffering from folic acid deficiencies fuels the demand for the folic acid market.The lack of folic acid causes many severe diseases like anaemia, digestive problems, and irregular division of DNA.Folic acid is essential for pregnant women to avoid birth defects in the baby.It contains the necessary enzymes needed for the development of brain & spine of the child.The adequate amount of folic acid in the diet of pregnant women reduces the risk of miscarriage.Hence,gynaecologists across the world are highly recommending the inclusion of folic acid supplements in diet. This boosts the growth of the folic acid market.
The inclination of people toward plant-based food favors the adaptability of folic acid.It can be easily obtained from the green leafy vegetables and fruits.The growing trend of a healthier lifestyle drives its market growth.Hence,it is widely used in the food & beverages industry.
Furthermore,the folic acid is useful in the treatment of eye and kidney disease.It helps in detoxifying the body and rebuilding the tissues.The multiple health benefits associated with it facilitates its usage in the pharmaceutical and nutraceuticals industry.
The global folic acid market trends are as follows:-
New product launches to flourish the market
The introduction of new products with improved qualities in the product portfolio is expected to strengthen the demand for these products.Owing to consumer’s changing pattern and preferences,the key market players are introducing new variants keeping the brand loyalty as the first priority.To be the first preference for the consumers.They are expanding their customer base and diversifying their businesses.The wide application of folic acid in the food & beverages industry and pharmaceutical industry is due to its nutritional value.It is also used in the beauty sectors due to its favourable chemical properties and thus,is suitable to use in the preparation of certain cosmetics as it provides a natural glow and healthier look to the skin.Increase in the inclination of people towards veganism is leading to introduction of new products in the portfolio of vegan food industry,hence contributing to boost the growth of folic acid market.The market players have recognized this fact as feasible methodology in extending their global footprint.
Key Benefits of the Report:
- This study presents the analytical depiction of the folic acid market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the folic acid market share.
- The current market is quantitatively analyzed to highlight the folic acid market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed folic acid market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Folic Acid Market Research Report:
- What are the leading market players active in the folic acidmarket?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps
Folic Acid Market Report Highlights
Key Market Players
JiangxiTianxin Pharmaceutical Co. Ltd., Emcure Pharmaceuticals Ltd., BASF SE, DSM N.V., Nantong Changhai FoodAdditive, Zydus Pharmaceuticals Ltd., Medicamen Biotech Ltd.