Folate, also known as vitamin B9, is most noted for its role in supporting a healthy pregnancy and fetal development. It is a synthetic folate compound used in vitamin supplements and fortified food because of its increased stability. It is also find a major application in the pharmaceutical industry, as a key ingredient to prevent anemia. Globally, he leading producer of folate in the year 2014. Lured by increasing price of folic acid, several players have announced their entry into the market. Most of the new players, who are planning to enter the market, have either received environmental clearance or have submitted their environmental impact statement. Prices are beginning to climb down as a consequence of new starts.
Folate Market: Drivers & Restraints
Increased health awareness among consumer, is driving them for the consumption of folate based products. Another key driver for the folate market is the increase in fertility rate among women, especially in the Asia pacific region. Folic acid could be unsafe when taken by mouth in large doses in a long-term. High doses of folate might cause abdominal cramps, diarrhea, rash, sleep disorders, irritability, confusion, nausea, stomach upset, behavior changes, skin reactions, seizures, gas, excitability, and other side effects. This has led to government interference in the selling of folate based medicines in the open market to prevent drug abuse.
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Due to the rapid fall in the price of folates, the folate market has been witnessing the entry of multiple new players. These new entrants have proven to be a major threats to the big firms in the market. As more and more capacity comes online, prices are expected to go down more rapidly in the near future.
The folate market can be segmented on the basis of source, application and end use. On the basis of source, it can be further segmented into fruits, leafy vegetables, milk, and others (whole wheat bread, sunflower seed, etc.). On the basis of application, the market is segmented into food industry, pharmaceutical industry and neutraceuticals. On the basis of end use, the folate market is segmented into baby foods, dietary supplements, fortified foods, others.
FolateMarket: Region Wise Outlook
Geographically, the folatemarket is segmented into seven regions which are; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) and Japan. Among them, Asia pacific region is the highest contributor to the global folate market. In terms of volume, China is leader in the global folate market, with 80% of the market share in the global folate market.
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Folate Market: Key Players
Some of the key players across the value chain dominating this market are: Jiangxi Tianxin Pharmaceutical Co., Ltd, Jangxi Zhangle Fine Chemicals Co., Ltd, Anhui Shengda Pharmaceutical Co., Ltd. Shangdong Hongzhi Biotechnology Co., Ltd, D.S. Lab, Lincoln Pharmaceuticals Ltd, Bio-Med Pvt. Ltd, Synokem Pharmaceuticals Ltd , Glyco Labs, Emcure Pharmaceuticals Ltd, Zydus Cadila Healthcare Ltd, Medicamen Biotech Ltd, etc.