PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887227
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887227
Folic Acid Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of folic acid Market
The global folic acid market continues to expand, driven by rising nutritional awareness, increased government fortification mandates, and a growing prevalence of anemia worldwide. According to the latest market data, the industry was valued at USD 728.46 million in 2024, is projected to reach USD 770.42 million in 2025, and is expected to grow significantly to USD 1,158.42 million by 2032, reflecting a CAGR of 5.97% during the forecast period. In 2024, North America led the global market with a 38.89% share, fueled by strong fortification programs and high demand for folate-enriched products.
Folic acid, also known as Vitamin B9, plays a critical role in red blood cell formation and preventing neural tube defects during pregnancy. As humans cannot store folate, supplementation and fortified foods have become essential, especially in developing regions with high deficiency rates. Natural sources include leafy greens, bananas, and meats; however, synthetic folic acid remains widely preferred due to affordability and easy integration into diverse applications.
Market Drivers
One of the primary drivers of the folic acid market is the global rise in anemia cases, particularly among pregnant women, adolescent girls, and young children. According to the World Health Organization, regions such as Southeast Asia and Africa recorded extremely high anemia rates in 2023-83 million children and 244 million women in Southeast Asia and over 200 million women and children in Africa combined. These alarming statistics continue to propel demand for folic acid-infused supplements and fortified foods to combat vitamin deficiencies.
Government initiatives promoting mandatory fortification also significantly contribute to market expansion. Countries such as the U.S., Canada, and Malaysia enforce folic acid fortification in staple foods including flour and cereals to improve public health outcomes. As more nations adopt similar policies, global consumption of Vitamin B9 is expected to rise sharply between 2025 and 2032. This increasing awareness and accessibility generate sustained growth for the market.
Market Restraints
Despite strong industry momentum, the market faces challenges due to potential side effects related to excessive folic acid intake. High consumption levels may lead to stomach ulcers, rashes, reduced appetite, or-in severe cases-heightened risks of cardiovascular diseases and certain cancers. These health concerns reduce consumer willingness to use supplements without medical guidance, slightly restraining market penetration in some regions.
Market Opportunities
Ongoing advancements in biotechnological production of folic acid present major opportunities for manufacturers. New methods such as microbial fermentation enable cost-efficient, sustainable production with reduced chemical waste, aligning with global sustainability goals. Additionally, improved food fortification techniques allow Vitamin B9 to be added to beverages, cereals, and flours without degrading its nutritional value. As innovation enhances efficiency and reduces costs, market players are positioned for profitable expansion through 2032.
Segmentation Overview
By Source
The synthetic folic acid segment dominated in 2024, driven by its low cost, convenient extraction, and widespread availability. Natural folate sources accounted for 11% of the market due to higher production costs and complex extraction processes.
By Application
In 2024, food & beverages maintained the largest market share, supported by regulatory mandates and rising fortification awareness. The nutraceuticals segment accounted for 20.01% share in 2024, while pharmaceuticals recorded the fastest-growing demand and are projected to obtain 30% of the market share in 2025, owing to their significant role in treating anemia and supporting prenatal health.
Regional Insights
North America
North America remained the top regional market with a value of USD 288.26 million in 2024, supported by strong government mandates and high cases of iron deficiency. The U.S. is expected to reach USD 189.60 million in 2025 with rising adoption of prenatal supplements and fortified foods.
Europe
Europe is forecasted to reach USD 204.28 million in 2025, driven by a health-conscious population and rising consumption of fortified foods among aging demographics. Germany, France, and the U.K. continue to be key contributors.
Asia Pacific
Asia Pacific exhibits the highest CAGR and is projected to reach USD 166.10 million in 2025, supported by government-mandated fortification, growing disposable income, and expanding e-commerce distribution. China is expected to hit USD 64.13 million, Japan USD 33.24 million, and India USD 24.05 million in 2025.
South America & Middle East & Africa
South America is projected to record USD 66.19 million in 2025, while the UAE market in the Middle East & Africa is estimated to reach USD 7.57 million, boosted by increased supplement imports and growing health awareness.
Conclusion
Growing from USD 728.46 million in 2024 to USD 1,158.42 million by 2032, the global folic acid market is poised for strong expansion. Rising anemia cases, strict government fortification mandates, innovation in production technologies, and increasing prenatal supplementation will remain the key drivers shaping the market's future.
Segmentation By Source
- Natural
- Synthetic
By Application
- Food & Beverages
- Pharmaceuticals
- Nutraceuticals
- Others
By Region
- North America (By Source, Application, and Country)
- U.S. (Source)
- Canada (Source)
- Mexico (Source)
- Europe (By Source, Application, and Country)
- Germany (Source)
- France (Source)
- Italy (Source)
- Spain (Source)
- U.K. (Source)
- Rest of Europe (Source)
- Asia Pacific (By Source, Application, and Country)
- China (Source)
- India (Source)
- Japan (Source)
- Australia (Source)
- Rest of Asia Pacific (Source)
- South America (By Source, Application, and Country)
- Brazil (Source)
- Argentina (Source)
- Rest of South America (source)
- Middle East & Africa (By Source, Application, and Country)
- UAE (Source)
- South Africa (Source)
- Rest of the Middle East & Africa (Source)
Table of Content
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
4. Key Insights
- 4.1. Market Overview of Related/Parent Market
- 4.2. Supply Chain Landscape
- 4.3. Regulatory Analysis
- 4.4. Industry SWOT Analysis
- 4.5. Recent Industry Developments - Policies, Mergers & Acquisitions, and New Product Launches
- 4.6. Impact of COVID-19 on the Market
5. Global Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Source (Value)
- 5.2.1.1. Natural
- 5.2.1.2. Synthetic
- 5.2.2. By Application(Value)
- 5.2.2.1. Food & Beverages
- 5.2.2.2. Pharmaceuticals
- 5.2.2.3. Nutraceuticals
- 5.2.2.4. Others
- 5.2.3. By Region (Value)
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East and Africa
- 5.2.1. By Source (Value)
6. North America Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Source (Value)
- 6.2.1.1. Natural
- 6.2.1.2. Synthetic
- 6.2.2. By Application(Value)
- 6.2.2.1. Food & Beverages
- 6.2.2.2. Pharmaceuticals
- 6.2.2.3. Nutraceuticals
- 6.2.2.4. Others
- 6.2.3. By Country
- 6.2.3.1. U.S.
- 6.2.3.2. Canada
- 6.2.3.3. Mexico
- 6.2.1. By Source (Value)
7. Europe Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Source (Value)
- 7.2.1.1. Natural
- 7.2.1.2. Synthetic
- 7.2.2. By Application(Value)
- 7.2.2.1. Food & Beverages
- 7.2.2.2. Pharmaceuticals
- 7.2.2.3. Nutraceuticals
- 7.2.2.4. Others
- 7.2.3. By Country
- 7.2.3.1. Germany
- 7.2.3.2. France
- 7.2.3.3. Spain
- 7.2.3.4. Italy
- 7.2.3.5. U.K.
- 7.2.3.6. Rest of Europe
- 7.2.1. By Source (Value)
8. Asia Pacific Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 8.1. Key Findings / Summary
- 8.1.1. By Source (Value)
- 8.1.1.1. Natural
- 8.1.1.2. Synthetic
- 8.1.2. By Application(Value)
- 8.1.2.1. Food & Beverages
- 8.1.2.2. Pharmaceuticals
- 8.1.2.3. Nutraceuticals
- 8.1.2.4. Others
- 8.1.3. By Country
- 8.1.3.1. China
- 8.1.3.2. India
- 8.1.3.3. Japan
- 8.1.3.4. Australia
- 8.1.3.5. Rest of Asia Pacific
- 8.1.1. By Source (Value)
9. South America Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 9.1. Key Findings / Summary
- 9.1.1. By Source (Value)
- 9.1.1.1. Natural
- 9.1.1.2. Synthetic
- 9.1.2. By Application(Value)
- 9.1.2.1. Food & Beverages
- 9.1.2.2. Pharmaceuticals
- 9.1.2.3. Nutraceuticals
- 9.1.2.4. Others
- 9.1.3. By Country
- 9.1.3.1. Brazil
- 9.1.3.2. Argentina
- 9.1.3.3. Rest of South America
- 9.1.1. By Source (Value)
10. Middle East and Africa Folic Acid Market Analysis, Insights and Forecast, 2025-2032
- 10.1. Key Findings / Summary
- 10.1.1. By Source (Value)
- 10.1.1.1. Natural
- 10.1.1.2. Synthetic
- 10.1.2. By Application(Value)
- 10.1.2.1. Food & Beverages
- 10.1.2.2. Pharmaceuticals
- 10.1.2.3. Nutraceuticals
- 10.1.2.4. Others
- 10.1.3. By Country
- 10.1.3.1. South Africa
- 10.1.3.2. UAE
- 10.1.3.3. Rest of MEA
- 10.1.1. By Source (Value)
11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Folic Acid Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2024
12. Company Profiles
- 12.1. DSM - Firmenich
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Financials (Data as available in public domain and/or on paid databases)
- 12.1.4. Recent Developments
- 12.2. Jiangxi Tianxin Pharmaceutical Co., Ltd.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Financials (Data as available in public domain and/or on paid databases)
- 12.2.4. Recent Developments
- 12.3. Parchem
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Financials (Data as available in public domain and/or on paid databases)
- 12.3.4. Recent Developments
- 12.4. Nantong Changhai Food Additive
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Financials (Data as available in public domain and/or on paid databases)
- 12.4.4. Recent Developments
- 12.5. Xinfa Pharmaceutical Co., Ltd.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Financials (Data as available in public domain and/or on paid databases)
- 12.5.4. Recent Developments
- 12.6. Foodchem International Corporation
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Financials (Data as available in public domain and/or on paid databases)
- 12.6.4. Recent Developments
- 12.7. Heibei Jiheng Pharmaceutical Co., Ltd.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Financials (Data as available in public domain and/or on paid databases)
- 12.7.4. Recent Developments
- 12.8. Fengchen Group Co., Ltd.
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Financials (Data as available in public domain and/or on paid databases)
- 12.8.4. Recent Developments
- 12.9. Vivion
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Financials (Data as available in public domain and/or on paid databases)
- 12.9.4. Recent Developments
- 12.10. Superior Supplement Manufacturing
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Financials (Data as available in public domain and/or on paid databases)
- 12.10.4. Recent Developments
13. Strategic Recommendations
List of Tables
- Table 1: Global Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 2: Global Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 3: Global Folic Acid Market (USD Mn) Forecast, By Region, 2019-2032
- Table 4: North America Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 5: North America Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 6: North America Folic Acid Market (USD Mn) Forecast, By Country, 2019-2032
- Table 7: U.S. Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 8: Canada Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 9: Mexico Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 10: Europe Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 11: Europe Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 12: Europe Folic Acid Market (USD Mn) Forecast, By Country, 2019-2032
- Table 13: Germany Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 14: U.K. Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 15: France Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 16: Spain Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 17: Italy Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 18: Rest of Europe Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 19: Asia Pacific Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 20: Asia Pacific Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 21: Asia Pacific Folic Acid Market (USD Mn) Forecast, By Country, 2019-2032
- Table 22: China Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 23: India Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 24: Japan Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 25: Australia Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 26: Rest of APAC Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 27: South America Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 28: South America Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 29: South America Folic Acid Market (USD Mn) Forecast, By Country, 2019-2032
- Table 30: Brazil Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 31: Argentina Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 32: Rest of South America Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 33: Middle East & Africa Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 34: Middle East & Africa Folic Acid Market, (USD Mn) Forecast, By Application, 2019-2032
- Table 35: Middle East & Africa Folic Acid Market (USD Mn) Forecast, By Country, 2019-2032
- Table 36: South Africa Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 37: UAE Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
- Table 38: Rest of MEA Folic Acid Market, (USD Mn) Forecast, By Source, 2019-2032
List of Figures
- Figure 1: Global Folic Acid Market Revenue Breakdown (USD Mn) By Source, 2024 & 2032
- Figure 2: Global Folic Acid Market Revenue Breakdown (%) By Source, 2024
- Figure 3: Global Folic Acid Market Revenue Breakdown (USD Mn) By Application, 2024 & 2032
- Figure 4: Global Folic Acid Market Revenue Breakdown (%) By Application, 2024
- Figure 5: Global Folic Acid Market Revenue Breakdown (USD Mn) By Region, 2024 & 2032
- Figure 6: Global Folic Acid Market Share (%) By Region, 2024
- Figure 7: North America Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 8: North America Folic Acid Market Value Share (%) By Source, 2024
- Figure 9: North America Folic Acid Market Value (USD Mn) By Application, 2024 & 2032
- Figure 10: North America Folic Acid Market Value Share (%) By Application, 2024
- Figure 11: North America Folic Acid Market Value (USD Mn) By Country, 2024 & 2032
- Figure 12: North America Folic Acid Market Value Share (%) By Country, 2024
- Figure 13: U.S. Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 14: U.S. Folic Acid Market Value Share (%) By Source, 2024
- Figure 15: Canada Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 16: Canada Folic Acid Market Value Share (%) By Source, 2024
- Figure 17: Mexico Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 18: Mexico Folic Acid Market Value Share (%) By Source, 2024
- Figure 19: Europe Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 20: Europe Folic Acid Market Value Share (%) By Source, 2024
- Figure 21: Europe Folic Acid Market Value (USD Mn) By Application, 2024 & 2032
- Figure 22: Europe Folic Acid Market Value Share (%) By Application, 2024
- Figure 23: Europe Folic Acid Market Value (USD Mn) By Country, 2024 & 2032
- Figure 24: Europe Folic Acid Value Share (%) By Country, 2024
- Figure 25: Germany Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 26: Germany Folic Acid Market Value Share (%) By Source, 2024
- Figure 27: U.K. Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 28: U.K. Folic Acid Market Value Share (%) By Source, 2024
- Figure 29: France Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 30: France Folic Acid Market Value Share (%) By Source, 2024
- Figure 31: Italy Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 32: Italy Folic Acid Market Value Share (%) By Source, 2024
- Figure 33: Spain Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 34: Spain Folic Acid Market Value Share (%) By Source, 2024
- Figure 35: Rest of Europe Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 36: Rest of Europe Folic Acid Market Value Share (%) By Source, 2024
- Figure 37: Asia Pacific Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 38: Asia Pacific Folic Acid Market Value Share (%) By Source, 2024
- Figure 39: Asia Pacific Folic Acid Market Value (USD Mn) By Application, 2024 & 2032
- Figure 40: Asia Pacific Folic Acid Value Share (%) By Application, 2024
- Figure 41: Asia Pacific Folic Acid Market Value (USD Mn) By Country, 2024 & 2032
- Figure 42: Asia Pacific Folic Acid Value Share (%) By Country, 2024
- Figure 43: China Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 44: China Folic Acid Market Value Share (%) By Source, 2024
- Figure 45: India Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 46: India Folic Acid Market Value Share (%) By Source, 2024
- Figure 47: Japan Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 48: Japan Folic Acid Market Value Share (%) By Source, 2024
- Figure 49: Australia Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 50: Australia Folic Acid Market Value Share (%) By Source, 2024
- Figure 51: Rest of APAC Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 52: Rest of APAC Folic Acid Market Value Share (%) By Source, 2024
- Figure 53: South America Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 54: South America Folic Acid Market Value Share (%) By Source, 2024
- Figure 55: South America Folic Acid Market Value (USD Mn) By Application, 2024 & 2032
- Figure 56: South America Folic Acid Market Value Share (%) By Application, 2024
- Figure 57: South America Folic Acid Market Value (USD Mn) By Country, 2024 & 2032
- Figure 58: South America Folic Acid Value Share (%) By Country 2024
- Figure 59: Brazil Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 60: Brazil Folic Acid Market Value Share (%) By Source, 2024
- Figure 61: Argentina Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 62: Argentina Folic Acid Market Value Share (%) By Source, 2024
- Figure 63: Rest of South America Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 64: Rest of South America Folic Acid Market Value Share (%) By Source, 2024
- Figure 65: Middle East & Africa Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 66: Middle East & Africa Folic Acid Value Share (%) By Source, 2024
- Figure 67: Middle East & Africa Folic Acid Market Value (USD Mn), By Application, 2024 & 2032
- Figure 68: Middle East & Africa Folic Acid Market Value Share (%), By Application, 2024
- Figure 69: Middle East & Africa Folic Acid Market Value (USD Mn) By Country, 2024 & 2032
- Figure 70: Middle East & Africa Folic Acid Value Share (%) By Country, 2024
- Figure 71: South Africa Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 72: South Africa Folic Acid Market Value Share (%) By Source, 2024
- Figure 73: UAE Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 74: UAE Folic Acid Market Value Share (%) By Source, 2024
- Figure 75: Rest of MEA Folic Acid Market Value (USD Mn) By Source, 2024 & 2032
- Figure 76: Rest of MEA Folic Acid Market Value Share (%) By Source, 2024
- Figure 77: Global Folic Acid Market Ranking Analysis (%), By Key Players, 2024
