The global folate market size was valued at USD 827.84 million in 2020 and is predicted to reach USD 1,514.97 million by 2030, with a rising CAGR of 6% during the forecast period 2021 to 2030.
Crucial factors accountable for market growth are:
Key market Insights:
Global folate industry is expected to continue its growth at significant CAGR during the forecast period owing to it increasing demand in pharmaceutical industries for endues applications. Further, advancements in the food service and food processing industry, is major factor anticipated to create lucrative growth opportunities for the key layers operating in the target sector. Growth of demand of nutritional food products and rising awareness for healthy food, has led, advancements in the food service and food processing industry which is creating opportunities folate market players worldwide. Further, due to COVID-19 Outbreak, the demand for vitamin supplements has risen exponentially, and the demand for folate is increasing rapidly. Hence the demand for the folate in the food industry will boost over the forecast period and will create growth opportunities for the key player’s operating in the target sector.
COVID-19 Impact on Global Folate Market
Outburst of COVID-19 has impacted on most of the key markets across the globe. COVID-19 is havelow impact on the folate market. Due to COVID-19, supply chain disruption, fluctuations in the raw material supply, insufficient man power in the manufacturing facility and low demand form the end use costumers hampered target industry growth in the developed as well as emerging economies worldwide. However, on the other side due to COVID-19 outburst, adoption of the immunity supplements has been increased. Also, the drop in meat seafood consumption rate across the globe fueled inclination for vitamin supplement, and thereby boosting demand for the folate. Pharmaceutical and biotech companies are working with governments to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicines supply chain challenges.
Future of Global Folate Market
Key companies of the global industry such as Koninklijke DSM N.V and Merck are aiming towards business growth by implementing strategies like capacity expansion, innovative product launches and heavy investments in their production facilities that is expected to flourish the global folate market growth in the near future. This trend is expected to continue and will augment growth of the global folate industry in the next 10 years. Further, increasing end use applications of folate and rising medical industry are boosting growth of the folate industry in the coming years.
5-MTHF Calcium Salt Segment Is Projected To Dominate the Type Segment of Folate Market Revenue
On the basis of type segment the target industry is segregated as 5-MTHF calcium salt and 5-MTHF glucosamine salt. The 5-MTHF calcium salt folate segment is expected to dominate in terms of revenue over the forecast time frame and expected to continue its growth in the near future. However, the 5-MTHF glucosamine salt folate segment will expand at a substantial CAGR during the forecast time-frame owing to its increasing applications in the end-use sector in the globe.
Tablet Segment Is Projected To Dominate the Type Segment of Folate Market Revenue
On the basis of form, global market is segregated as gummies, capsules, lozenges, powder, tablets, and others. Tablet segment will dominate the target market in the near future owing to its increasing demand worldwide. Powder form is expected register maximum CAGR during the forecast time-frame.
Pharmaceuticals & Nutraceuticals Segment Is Projected To Dominate the End-use Segment of Folate Market Revenue
On the basis of end-use segment Pharmaceuticals & Nutraceuticals end-use segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to growing adoption of folates in the pharmaceuticals & nutraceuticals applications. Folate is commonly used in nutrition therapy for the treatment of nervous system, urinary and cardiovascular diseases in the pharmaceutical industry. Food & beverages segment will expand at a significant CAGR during the forecast time-frame.
Asia Pacific is estimated to be the Largest Market for Folate
The global research report offers market trends for folate products worldwide that is for North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Geographically, folate market is conquered by North America owing to increasing demand from pharmaceutical and nutraceuticals industries for the end-user applications especially in the U.S. and Canada of the region. Asia Pacific is expected to register the fast growth rate, on account of increasing huge investment by key market players and growing adoption of the folate in the medical industries of the region. Also, increasing usage of the folate in the commercial industries for the various end user applications is driving growth of the industry in rest of the world.
Top Players contending in the Market:
The companies focusing on research and development are expected to lead the global folate market. Leading competitors contending in global folate market are as follows:
For the better understanding the recent situation of the global folate market and for most policies of the country, Precedence Research forecast the future evolution of the folate industry. This research study offers qualitative and measureable insights on folate market and valuation of market size and development trends for global market segments.
Key Market Developments:
Major Market Segments Covered:
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