Global Folate Market - 2022-2029

Market Overview

Folate Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Folate is one of the natural forms of vitamin B9. It is water-soluble and naturally available in many foods. Folate is available in a wide range of food, such as fruit, vegetables, eggs and legumes. Many sources are fortified with folic acid, a synthetic folate form. It is an essential vitamin B source for producing red and white blood cells in bone marrow, producing DNA and RNA, and transforming carbohydrates into energy. An adequate amount of folate is necessary during periods of rapid growth, such as pregnancy, infancy, and adolescence. Some naturally occurring folate sources are Brussels sprouts, dark leafy greens, asparagus, orange, kidney beans, black-eyed peas, and peanuts. The market is expected to grow, owing to its increasing demand in pharmaceutical industries for endues applications.

Market Dynamics: Increasing health awareness among customers increases the demand of folate

Folate is an essential nutrient for the human body. It is important for the basic cell function of the body. It helps in the formation of DNA and RNA and prevent neural tube congenital disabilities in an unborn baby's brain or spine. Consumption of folate helps to prevent certain diseases. The body does not absorb natural folate from the food. Hence, there is an increased demand for the consumption of folate supplements.

Moreover, folate reduces the risk of a certain types of cancers. It helps reduce 50% of the chances of getting squamous cell carcinoma, the most common type of skin cancer. Low blood levels are linked to poor mental function and an increased risk of dementia. An adequate level of folate also helps to avoid the risk of Alzheimer's disease. Folate is essential for mental health. It plays an important role in producing a brain chemical called neurotransmitters. A low amount of folate causes depression and schizophrenia. Folate helps to reduce the risk of heart disease. High levels of the amino acid homocysteine are essential to increase heart disease risk. Folate helps the breakdown of homocysteine. Folate also helps to reduce high blood pressure levels. Folate supplements may help improve blood sugar regulation and reduce insulin resistance in people with diabetes. Folate supplements may improve egg quality and help eggs grow. Consumption of folate helps to increase the chance of getting pregnant.

Market Segmentation: 5-MTHF Calcium Salt segment accounted for the highest share in global folate market

In 2021, the 5-MTHF calcium salt had the highest revenue share of over XX percent. 5-MTHF calcium salt is the form of supplement and is helpful to treat or prevent low folate levels. Low folate levels can lead to a certain type of anemia. Glucosamine is also used for joint pain, rheumatoid arthritis, multiple sclerosis, and many other conditions. It is made from shells of shellfish or made in a lab. 5-MTHF Glucosamine Salt is available in capsule form. Dosage of the capsule is based on the deficiencies. It is essential for a healthy pregnancy and overall health. It is also helpful to offer the highest efficacy, safety and versatility.

Based on end-user, the pharmaceutical and nutraceuticals segment held the largest revenue in the forecast period. In the nutraceuticals industry, this substance is used to manufacture supplemental vitamin capsules, powders, and cosmetics. Folate is an essential nutrient required for DNA replication and a substrate for a range of enzymatic reactions involved in amino acid synthesis and vitamin metabolism. Demand for folate increases during pregnancy because it is also required for the growth and development of the fetus. Increased demand for the capsules from the pharmaceutical industry drives the market growth.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest market revenue share of almost XX percent, owing to the increasing demand for folic acid supplementation for prevention of neural tube defects. Neural tube defects are most common in the United States and may lead to various disabilities and death. Daily folic acid supplementation in the periconceptional period helps to prevent neural tube defects. Doctors are suggested to recommend on folic acid supplementation in women of childbearing age. Increasing demand from pregnant women for vitamin needs also helps increase the demand for folate supplements. Also, increasing research and development activities in the US drive market growth. Half of the pregnancies in the US are unplanned, so women of reproductive age get 400 micrograms of folic acid each day in addition to consuming foods with folate. That avoids the risk of neural tube disease. That also helps to increase the demand for folate in the United States.

Competitive Landscape:

There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Medicamen Biotech Ltd, BASF SE, Superior Supplement Manufacturing, Gnosis SPA, and Seidler Chemical Co, Inc are major market players. Some key players follow merger and collaboration strategies to increase their sales and company growth. For instance, in 2021, Eisai and Bristol Myers Squibb entered into a global strategic collaboration for Eisai's MORAb-202 Antibody-Drug Conjugate. MORAb-202 is Eisai's first ADC and combines Eisai's in-house developed anti-folate receptor alpha (FRα) antibody, and Eisai's anticancer agent eribulin, using an enzyme cleavable linker. In September 2021, Bazelet Health and Sattviko produced a new superfood in the market. The new product line will offer healthy, super tasty foods and snacks infused with Bazelet's federally compliant, non-psychoactive cannabis. The products are diabetic-friendly, immune booster and gluten-free. Cannabis is a superfood because of its health benefits, nutritional value and chemical compounds. Hemp seeds contain iron, calcium, magnesium, phosphorus, potassium, zinc, and folate.

COVID-19 Impact: Positive impact on the global folate market

Vitamins and minerals perform the best role as immunity boosters in the Covid pandemic. Deficiencies of vitamins and nutrients adversely affect the immunity system to infections. During a pandemic, it is essential to increase the body's nutritional value to reduce viral load and hospitalization for COVID-19 patients. Vitamins are essential dietary components because of their antioxidant properties and immunomodulatory effects. Some of them regulate gene expression in immune cells and support the maturation and differentiation of immune cells. Nutrients and vitamins are important for energy activation in the body. Folate is essential for DNA and protein synthesis and plays an important role in the adaptive immune response. Folic acid inhibits the furin, an enzyme responsible for bacterial and viral infections, and blocks the binding of SARS-CoV-2 spike protein. In the early stage, Vitamin B9 is useful for controlling infection of COVID-19. Derivatives of folic acid such as 5-methyl tetrahydrofolic acid and tetrahydrofolic acid have a strong affinity against the SARS-CoV-2. Hence sales of the folate increased during COVID-19 pandemic.

The global folate market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages