The global folic acid market is estimated to grow at a CAGR of nearly 4.5% during the forecast period. The rising folate-deficient population is driving the demand for folic acid-based products. Anemia is the major cause of folic acid deficiency which leads to a reduction in red blood cells. As per the World Health Organization (WHO), 42% of children below 5 years of age and 40% of pregnant women globally are anemic. This has led the demand for the appropriate amount of folic acid in their diets. Folic acid lowers the risk of having neural tube defects (NTDs) in the unborn baby.
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NTDs are birth defects of the spinal cord including spina bifida, Chiari malformation, the brain such as anencephaly, and another form that causes brain tissue to fall into the spinal canal. NTDs affect nearly 300,000 babies globally annually. Between 50% and 70% of NTDs can be prevented when women take folic acid in a prenatal supplement or vitamin. During pregnancy, supplements are recommended as it can be complex to fulfil the requirement of extreme folic acid with diet only. As per the experts, any woman who is trying to get pregnant should take folic acid.
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According to the study by the Centers for Disease Control and Prevention (CDC), 22% of women between the age group of 12 and 49 years don’t have adequate folic acid in their bodies for prevention of NTDs. Therefore, in the US, most women need to take a multivitamin that consists of 400 micrograms (mcg) of folate daily, or similar amount of folic acid can be attained with a separate supplement, earlier they conceive. In addition, women should take 600 mcg of folic acid during pregnancy. Research demonstrates that folic acid may do more than for the prevention of NTDs.
Eating folic acid-enriched foods was linked with an 11% reduction of congenital heart defects. Therefore, folic acid-based supplements, food and beverages, and pharmaceuticals are recommended by the doctors for pregnant women and women who are trying to conceive. It is often recommended by the doctors to take folic acid until they are 12 weeks pregnant that supports the baby to grow normally. Further, infants up to ages 6 months require 65 mcg of folate every day which rises to 80 mcg from ages 7-12 months. Children up to the age group of 3 years require 150 mcg of folic acid every day.
In babies, folic acid encourages the development of the spinal cord and brain from the neural tube and have a crucial role in supporting the development of baby’s brain. This results in an emerging demand for folic acid in infant formulas to provide adequate nutrition level for the development of baby’s brain. Therefore, the rising prevalence of folate deficiency in women and child have increased awareness among people for folic acid-based products, which in turn, is contributing to the growth of the global folic acid market.
Global Folic Acid Market- Segmentation
By Form
- Tablets
- Capsules and Softgels
- Powder
- Others
By Application
- Dietary Supplements
- Pharmaceuticals
- Food and Beverages
- Others
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