Folate Market Report 2024 (Global Edition)

Global Folate Market Report 2024 Market Size Split by Type (5-MTHF Calcium Salt, 5-MTHF Glucosamine Salt), by Application (Food industry, Neutraceuticals, Pharmaceuticals), by Form (Tablets, Capsules,...

Folate Market Report Description

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Competitive Landscape of the Folate Market

The market is fragmented as a result of the presence of numerous well-established industry competitors as well as local businesses. Players also employ mergers and acquisitions as important tactics to diversify their product lines. Furthermore, the implementation of tactics like as technological development, capital investment in research and development, product quality enhancement, acquisitions, mergers, and market competitiveness aid in maintaining their market position and value. Additionally, industry expansion is fueled by significant players' substantial market share holdings and partnerships with other businesses.

Folate Industry News 

July 2023: Medicamen Biotech filed its first eCTD (Electronic Common Technical Document) Abbreviated New Drug Application for 'BORTEZOMIB FOR injectable 3.5 MG/VIAL' to the FDA (Food and Drug Administration) in the United States.

(Source: http://www.medicamen.com/news/view/3)

March 2023: Vitamin Well, a Swedish functional drink brand, is coming to the United Kingdom. Beginning on April 19, WH Smith and Amazon will carry a variety of four low-calorie, non-carbonated drinks that are enhanced with vitamins and minerals.

(Source: https://www.thegrocer.co.uk/new-product-development/swedish-functional-drinks-brand-vitamin-well-makes-uk-debut/677427.article#:~:text=Swedish%20functional%20drinks%20brand%20Vitamin%20Well%20is%20set%20to%20make,B12%20to%20“reduce%20fatigue”.)

Top Companies Market Share in Folate Industry: (In no particular order of Rank)

• Medicamen Biotech Ltd.
• Nutritional Supplement Manufacturers Inc.
• Superior Supplement Manufacturing
• Koninklijke DSM N.V
• Gnosis SPA
• Seidler Chemical Co Inc.
• Hebei Jiheng Group Pharmacy Co Ltd.
• AIE Pharmaceuticals Inc.
• Changzhou
• Niutang Chemical Plant Co. Ltd.
• Shandong Xinfa Pharmaceutical Co.
• Gemini Pharmaceuticals Inc.
• Merck
• BASF SE
• Jiangxi Tianxin Pharmaceutical Co. Ltd.
• HEMA PHARMACEUTICALS PVT. LTD.
• Emcure Pharmaceuticals Ltd.
• Nantong Changhai Food Additive
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Folate Market

Which Region Dominates the Folate Market in 2024?

According to Cognitive Market Research, North America dominated the folate market in 2024 and accounted for around 40% of the global revenue. The pharmaceutical and nutraceutical sectors' growing demand for the end-use application in nations like the US and Canada is primarily responsible for the growth. Furthermore, during the anticipated period, it is anticipated that the government's advantageous laws will propel market expansion.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific is anticipated to be the fastest-growing region in the folate market in the forecast period. The region's medical sectors are increasingly adopting folate, and this expansion can be attributed to factors like increased investment by significant companies in the industry. Furthermore, the Asia-Pacific folate market is expanding due to the increasing use of folate in commercial businesses for a range of purposes.

The current report Scope analyzes Folate Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Folate Market

According to Cognitive Market Research, the global folate market size was estimated at USD 889.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 355.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031 because there is a growing need for folate supplements to avoid neural tube abnormalities. The majority of neural tube abnormalities occur in the United States, where they can cause a variety of problems as well as death. Neural tube abnormalities can be avoided throughout the periconceptional stage by taking a daily folate supplement. Physicians are advised to advise women of reproductive age to take supplements of folic acid. The growing requirement for folate supplements is partly driven by pregnant women's increased desire for vitamins. Additionally, rising R&D expenditures in the US fuels the industry expansion. It is distinguished by a well-established healthcare system, a high degree of consumer awareness, and a strong emphasis on wellness and preventive treatment. Moreover, the demand for medications, fortified foods, and dietary supplements drives the regional market share.

• According to Cognitive Market Research, the US had a major share in the folate market with a market size of USD 280.63 million in 2024 and is projected to grow at a CAGR of 4.1% during the forecast period because of the aging of the population, rising disposable incomes, and a growing need for supplements and foods that are fortified. 
• The Canada folate market had a market share of USD 42.68 million in 2024 and is projected to grow at a CAGR of 5.1% during the forecast period as a result of growing demand for fortified foods and supplements and growing awareness of the health benefits of vitamins.
• The Mexico folate market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 32.37 million in 2024.

 

Europe Folate Market

According to Cognitive Market Research, with a market value of USD 889.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 266.76 million. The reason for this is because an increasing number of individuals are realizing how crucial this mineral is to their health. Livers, nuts, seeds, and leafy green vegetables are good sources of the water-soluble vitamin folate. Red blood cell synthesis and amino acid metabolism both benefit from its presence. Anemia, congenital abnormalities, and cognitive decline are just a few of the health issues that can result from low folate. You can help prevent these diseases by taking supplements of folate. Indicating that more people are taking precautions to safeguard their health, the growing demand for folate supplements in the European market is a positive trend.

• The United Kingdom folate market had a market share of USD 44.82 million in 2024 and is projected to grow at a CAGR of 5.4% during the forecast period. The folate market in this nation is anticipated to be driven by growing health problems like cardiac arrest and birth deformities.

• The France folate market is projected to witness growth at a CAGR of 3.8% during the forecast period with a market size of USD 24.54 million in 2024.
• According to Cognitive Market Research, the Germany folate market size was valued at USD 52.82 million in 2024 and is projected to grow at a CAGR of 4.8% during the forecast period because to the high rate of vitamin deficiencies, population growth, and growing knowledge of the advantages of folate for health.
• The Italy folate market is projected to witness growth at a CAGR of 4.0% during the forecast period with a market size of USD 22.94 million in 2024.
• The Russia folate market is projected to witness growth at a CAGR of 3.6% during the forecast period with a market size of USD 41.35 million in 2024.
• The Spain folate market is projected to witness growth at a CAGR of 3.7% during the forecast period with a market size of USD 21.87 million in 2024.
• The Luxembourg folate market is projected to witness growth at a CAGR of 4.7% during the forecast period with a market size of USD 8.27 million in 2024.
• The Portugal folate market is projected to witness growth at a CAGR of 4.4% during the forecast period with a market size of USD 5.60 million in 2024.
• The Greece folate market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 3.20 million in 2024.
• Rest of Europe folate market is projected to witness growth at a CAGR of 3.3% during the forecast period with a market size of USD 41.35 million in 2024.

 

Asia Pacific Folate Market

According to Cognitive Market Research, the global Folate market size was estimated at USD 889.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 204.52 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031. The market for folate is growing at the quickest rate in the Asia Pacific region because of the region's growing prevalence of chronic illnesses and growing awareness of the need of good nutrition. Leafy greens, legumes, nuts, and seeds are good sources of folate, a water-soluble vitamin. Not only is it necessary for the synthesis of DNA and RNA, but it is also necessary for the homocysteine metabolism. Lack of folate can lead to anemia, malformations at birth, and issues with the neural tube. Increasing rates of anemia, growing knowledge of micronutrients, and the growing need for folic acid and folate supplements among expectant mothers are some of the primary factors driving the expansion of the market under investigation.

• According to Cognitive Market Research, the China folate market size was valued at USD 92.03 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period due to population aging, increased disposable income, and an increasing need for fortified meals and supplements. 

• The Japan folate market is projected to witness growth at a CAGR of 6.6% during the forecast period with a market size of USD 28.22 million in 2024.
• The India folate market had a market share of USD 24.54 million in 2024 and is projected to grow at a CAGR of 9.9% during the forecast period due to the rising popularity of fortified meals and supplements as well as the growing knowledge of the advantages of vitamins for health.
• The South Korea folate market is projected to witness growth at a CAGR of 7.2% during the forecast period with a market size of USD 20.45 million in 2024.
• The Australia folate market is projected to witness growth at a CAGR of 7.8% during the forecast period with a market size of USD 10.63 million in 2024.
• The South East Asia folate market is projected to witness growth at a CAGR of 9.1% during the forecast period with a market size of USD 14.11 million in 2024.
• The Rest of Asia Pacific folate market is projected to witness growth at a CAGR of 7.9% during the forecast period with a market size of USD 14.52 million in 2024.

 

South America Folate Market

According to Cognitive Market Research, the global Folate market size was estimated at USD 889.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 44.46 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031 because consumers' concerns about their health are growing along with knowledge of the role folic acid plays in avoiding birth abnormalities. The industry has grown as a result of government programs encouraging the fortification of food items with folate. The market is expanding in the region due to factors such as the increasing demand for dietary supplements and the growing prevalence of chronic disorders. Additionally, throughout the projected period in Latin America, the tablets category is anticipated to hold a leading share in the folate market. The market's need for segmented growth is being driven by the product's easy availability, convenience, and longer shelf life. For the majority of people across all age categories, this is the supplement form they use most frequently.

• According to Cognitive Market Research, the Brazil folate market size was valued at USD 19.03 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. Rising health issues such as cardiac arrest and birth abnormalities are expected to propel the folate market in this country.
• The Argentina folate market had a market share of USD 7.47 million in 2024 and is projected to grow at a CAGR of 6.4% during the forecast period due to the high prevalence of vitamin inadequacies, population expansion, and expanding awareness of the health benefits of folate.

• The Colombia folate market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 3.96 million in 2024.
• The Peru folate market is projected to witness growth at a CAGR of 5.7% during the forecast period with a market size of USD 3.65 million in 2024.
• The Chile folate market is projected to witness growth at a CAGR of 5.8% during the forecast period with a market size of USD 3.20 million in 2024.
• The Rest of Latin America folate market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 7.16 million in 2024.

 

Middle East and Africa Folate Market

According to Cognitive Market Research, the global Folate market size was estimated at USD 889.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 17.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031 because of growing consumer health consciousness, greater use of fortified foods, and expanding knowledge of the role folate plays in preventing neural tube abnormalities. Government programs to combat folate shortage and fortify basic foods also aid in the growth of the industry. Furthermore, the MTHF Calcium Salt category is anticipated to have the most market shares in the Middle East and Africa. In addition to being necessary for methylation, 5-MTHF indirectly contributes to DNA synthesis, the production of serotonin and melatonin, and the conversion of homocysteine to methionine. It prevents malformations of the neural tube during pregnancy. 

• According to Cognitive Market Research, the GCC Countries folate market size was valued at USD 7.61 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period because of the aging population, rising disposable income, and growing need for supplemental and meal fortification. 

• The Egypt folate market is projected to witness growth at a CAGR of 6.1% during the forecast period with a market size of USD 1.87 million in 2024.
• The South Africa folate market is projected to witness growth at a CAGR of 6.8% during the forecast period with a market size of USD 2.81 million in 2024. The folate market in this country is anticipated to grow due to an increase in health concerns like cardiac arrest and birth defects.
• The Turkey folate market is projected to witness growth at a CAGR of 5.3% during the forecast period with a market size of USD 1.53 million in 2024.
• The Nigeria folate market is projected to witness growth at a CAGR of 4.9% during the forecast period with a market size of USD 1.87 million in 2024.
• The Rest of MEA folate market is projected to witness growth at a CAGR of 4.8% during the forecast period with a market size of USD 2.10 million in 2024.

 

Folate Market Analysis

Folate  Type Segment Analysis

According to Cognitive Market Research, 5-MTHF calcium salt category held the major market share over the forecast period because it is more effective and bioavailable than other types of folate supplementation. The need for 5-MTHF calcium salt is projected to rise as more people become aware of the benefits of folate supplementation, especially for expectant mothers and those with specific medical issues.

The 5-MTHF glucosamine salt is the fastest-growing category over the forecast period driven by a number of elements, such as its higher bioavailability and absorption rate in comparison to other forms of folate, such as folic acid. Furthermore, 5-MTHF is the biologically active form of folate, which means that those with specific genetic variants that impact the metabolism of folate may benefit more from it.

• 5-MTHF Calcium Salt
• 5-MTHF Glucosamine Salt

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Folate Industry. Request a Free Sample PDF!

Folate Application Segment Analysis

According to Cognitive Market Research, pharmaceuticals category held the major market share over the forecast period driven by a growing understanding of the significance of folate for health and an increase in the number of illnesses linked to folate deficiencies. Furthermore, new folate-based drugs have been introduced as a result of developments in pharmaceutical research and development, which has further accelerated market expansion.

Nutraceuticals is the fastest-growing category over the forecast period. Nutraceuticals are goods that offer health advantages over basic nutrition by fusing the qualities of food and medicine. This category includes functional foods, dietary supplements, and drinks enhanced with vitamins, minerals, and botanical extracts as well as bioactive substances. The need for natural alternatives, wellness trends, and rising consumer knowledge of preventative healthcare have all contributed to the steady increase in the market share of nutraceuticals.

• Food industry
• Neutraceuticals
• Pharmaceuticals

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Folate Form Segment Analysis

According to Cognitive Market Research, tablets category held a prominent market share because of elements like practicality, simplicity of use, and accurate dosage administration. Tablets provide consumers with a convenient and portable means of adding folate to their regular diets, which is helping to drive the growth of this market segment.

Gummies is the fastest-growing category over the forecast period because of the flavor appeal, ease of use, and growing acceptance of supplements in this format, among other reasons. For customers who might find it difficult to swallow pills or who just want a more delightful supplement experience, gummies provide a quick and enjoyable method to include folate in their diets.

• Tablets
• Capsules
• Powder
• Lozenges
• Gummies
• Others

Folate Source Segment Analysis

According to Cognitive Market Research, green vegetables category held a prominent market share because people are more aware of the advantages of eating foods high in folate, especially leafy greens like broccoli, kale, and spinach, for their health. Demand for these green vegetables is expanding due to consumers' growing search for natural sources of folate, which is propelling the category's rise. 

Liver is the fastest-growing category over the forecast period impacted by a number of variables, including product availability, dietary trends, and consumer preferences. One of the most important nutrients for cell division and DNA synthesis, folate is found naturally in liver. The demand for foods high in folate, such as liver, is rising as people become more conscious of the role that folate plays in sustaining general health, especially during pregnancy.

• Fruit
• milk
• Green vegetables
• Liver
• Seafood

Folate End User Segment Analysis

According to Cognitive Market Research, supplements category held the major market share over the forecast period. Products such as vitamins, herbal supplements, minerals, and other nutritional additives are all included in the category of dietary supplements. To enhance general health and well-being or to meet particular nutritional demands, these products are usually ingested in addition to a regular diet. There are numerous ways to get supplements, including liquids, tablets, powders, and capsules. An aging population, growing health consciousness, and the demand for preventive healthcare can all drive supplements' market share, which can be quite large.

Fortified food is the fastest-growing category over the forecast period fueled by growing understanding of the role folate plays in protecting against birth abnormalities and promoting general health. The rise of the industry is further aided by the fact that fortified foods provide customers with an easy approach to achieve their daily folate requirements. With more people prioritizing their health and looking for items with additional nutritional benefits, this trend is probably going to continue.

• Fortified foods
• Baby Foods
• Supplements

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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