Folate Market Size, Share & COVID-19 Impact Analysis by Product Type (Folic Acid, L-Methylfolate Calcium, 5-Methyltetrahydrofolic, and Others), Analysis by Form (Capsules and Tablets, Liquid, Gummies, and Others), Analysis by Application (Pharmaceuticals, Nutraceuticals, and Food & Beverages), and Regional Forecast, 2024-2032

Folate, also known as Vitamin B9, is an essential water-soluble vitamin that plays a crucial role in various bodily functions. Folate helps in the formation of DNA and RNA as well as involved in protein metabolism. It also produces healthy red blood cells, which is critical during periods of rapid growth, such as pregnancy and fetal development. As the human body cannot produce folate, it is required in the diet, making it an essential nutrient. The recommended daily intake of folate in the U.S. is 400 micrograms from foods or dietary supplements. Manufacturers are also launching folate-based medicines to meet the rising demand. For instance, in September 2023, Mankind Pharma, an Indian pharmaceutical and healthcare products company, unveiled a PregaHope Preconception tablet. The new product supports the body in conceiving with the help of folic acid and iron tablets.

Folate deficiency can lead to a variety of health problems, such as neural tube defects, anemia, cognitive decline, and others. Therefore, consumers have been inculcating folate supplements to overcome deficiencies. The folate market is expected to grow significantly due to the growing awareness regarding the health advantages of folate and rising prevalence of folate-deficient illnesses.

Impact of COVID-19 on the Global Folate Market

The COVID-19 pandemic had a moderate impact on the production of folate. The pandemic caused disruptions in global supply chains, leading to shortages in essential goods. The pandemic resulted in labor shortages across several industries, including pharmaceuticals. These shortages made it difficult to produce, transport, and distribute folate-based supplements and products. However, the pandemic increased the demand for folate-based supplements as people increasingly became aware of the importance of maintaining a healthy immune system during times of illness.

Folate Market Segmentation Analysis

Key Insights

The report covers the following key insights:

• Overview of the Folate Market


• Demand for Folate in the Food Sector


• Drivers, Restraints, and Opportunities


• Impact of COVID-19 on the Global Folate Industry

Analysis by Product Type

The folic acid segment is expected to hold a major share of the global folate market owing to expanding use in the nutraceuticals and pharmaceutical sectors. Folic acid has been known to have significant medical value and is used to prevent and treat low blood levels of folate deficiency and high blood levels of homocysteine. Moreover, factors such as increased health consciousness and growing knowledge regarding the relevance of folic acid for maintaining good health propels folate market growth.

The L-Methylfolate calcium segment is expected to grow at a high CAGR over the forecast period. L-Methylfolate calcium is a safe and effective way to treat folate deficiency and is available in a variety of forms, such as tablets, capsules, and liquids in the market.

Analysis by Form

The capsules and tablets segment is expected to hold a major share of the global folate market owing to ease of availability, convenience, and longer shelf life. The capsules and tablets are generally more affordable than other forms and are easy to swallow.

The gummies segment is expected to grow at a high CAGR over the forecast period. Manufacturers prevailing in the folate market have been focusing on new launches to meet the rising demand for the product. For instance, in August 2023, Nyumi, a Mumbai-based wellness and nutrition startup, launched Iron+ gummies. The new product addresses the prevalent issue of iron deficiency in women in India and is enriched with folic acid, vitamin B12, and other nutrients.

Analysis by Application

The pharmaceutical segment is expected to hold a significant share of the global folate market. Folate is an essential nutrient with a wide range of pharmaceutical applications. It is particularly important for women of childbearing age to ensure adequate folic acid intake in order to prevent neural tube defects. Moreover, the pharmaceutical industry is supporting the growth of folate Industry by producing supplements and fortified foods. For instance, in October 2021, Danone S.A., one of the leading multi-local food and beverage company, launched AptaGrow. The new product is a fortified health drink for children with folic acid, iodine, anf other nutrients to support brain development.

The nutraceuticals segment is expected to grow at a high CAGR over the forecast period. Folate helps support cognitive functioning, promote heart health, boost energy levels, and forms an essential ingredient for women’s health. Manufacturers have been developing nutritional supplements containing folate and helping meet its rising demand among pregnant women. For instance, in May 2020, WellSource Nutraceuticals, located in the Purdue Research Park of Northwest Indiana, launched a nutritional supplement, Methyl-NX. The new product helps women in fertility programs and provides sufficient quantities of bioactive folate, omega-3, and essential B vitamins.

Regional Analysis

North America is expected to hold a significant market share of the global folate market. The increasing investments in product innovation and R&D facilities are anticipated to boost the market growth of folate in the region. The region has a well-established healthcare infrastructure that facilitates the availability and accessibility of folate-based supplements and fortified foods. Moreover, the rising prevalence of chronic diseases such as heart disease, diabetes, and others further propel the demand for folate supplements in the region.

Europe is expected to grow at a high CAGR over the forecast period. This is due to the rising consumer health awareness, a large aging population, and high incomes, which contribute to the demand for folic acid supplements.

Key Market Players

• BASF SE


• DSM N.V.


• Zydus Cadila Healthcare


• D.S. Lab


• Lincoln Pharmaceuticals


• Shandong Hongzhi Biotechnology


• Jiangxi Tianxin Pharmaceutical


• Medicamen Biotech


• Merck & Co.


• Emcure Pharmaceuticals Ltd.

Key Developments

• In July 2022, Nature Sure, a Delhi-based startup, launched chewable health gummies. The new product contains folic acid, omega-3, blueberry, biotin, and other nutrients.