The global folic acid market was valued at USD 728.46 million in 2024 and is forecasted to reach USD 770.42 million in 2025, further expanding to USD 1,158.42 million by 2032, at a CAGR of 5.97% during 2025–2032. In 2024, North America held the largest share, accounting for 38.89% of the global market.
Folic acid, also referred to as Vitamin B9, is a water-soluble B vitamin widely used in food fortification and as a dietary supplement. Since the human body cannot produce or store folate, it must be obtained through external sources, making it an essential nutrient. Vitamin B9 plays a crucial role in the formation of healthy red blood cells and in preventing folate deficiencies. Natural food sources of folate include spinach, asparagus, Brussels sprouts, bananas, beef, and other vegetables and meats. Folic acid intake is particularly important for pregnant and lactating women, as it helps prevent neural tube defects. According to the National Institutes of Health (NIH), pregnant women are advised to consume 400 mcg of Dietary Folate Equivalents (DFE) daily.
Growing incidences of iron deficiency anemia worldwide and the increasing presence of global Vitamin B9 ingredient manufacturers are significant factors boosting the market. Some of the key players include DSM–Firmenich, Parchem, Jiangxi Tianxin Pharmaceutical Co., Ltd., and Nantong Changhai Food Additive.
The COVID-19 pandemic disrupted the vitamins sector, with supply chain breakdowns, raw material shortages, and logistical hurdles during the early lockdown phase of 2020. Despite these challenges, demand for vitamins, including folic acid, increased as consumers prioritized health and immunity.
Information Source: https://www.fortunebusinessinsights.com/folic-acid-market-112316
Folic Acid Market Trends
Rising Popularity of Nutricosmetics Boosts Market Growth
Nutricosmetics—nutritional supplements designed to improve skin, hair, and overall beauty from within—are rapidly expanding. Consumers seeking holistic health and protection against lifestyle- and environment-driven stressors are increasingly drawn toward these supplements. With innovations in formulations and advanced delivery systems, Vitamin B9 is gaining traction as a core ingredient, thanks to its role in cell regeneration and protection against sun-related damage.
Market Dynamics
The growing prevalence of anemia is a major driver of the folic acid market, as the condition continues to impact millions worldwide, particularly pregnant and postpartum women, adolescent girls, and children. Factors such as poor diet, chronic illnesses, and genetic predispositions are contributing to its rise, thereby boosting the demand for folic acid. Furthermore, government-supported fortification programs, including mandatory food fortification policies in regions like the U.S., Canada, and Europe, have proven effective in reducing folate deficiency, encouraging other countries to implement similar initiatives.
However, the market faces restraints due to the adverse effects of overconsumption. Excessive folic acid intake can lead to health complications such as skin rashes, stomach ulcers, appetite loss, or seizures, which in turn may lower consumer adoption and raise caution among healthcare providers.
On the other hand, opportunities are emerging with advancements in production technology. Biotechnological innovations, such as microbial fermentation, are enabling sustainable and cost-efficient folic acid production using engineered microorganisms, reducing dependence on conventional synthesis methods. Despite these advancements, challenges persist, including high production costs that limit widespread usage in supplements and fortified foods, along with intense market competition that continues to pressure profit margins.
Segmentation Analysis
By source, synthetic folic acid holds the dominant share of the market, primarily because it is more cost-effective compared to natural sources, making it the preferred choice for manufacturers and consumers alike.
By application, the food and beverages segment leads the market, driven by rising demand for fortified products that offer enhanced nutritional value and support better health outcomes.
Regional Outlook
The market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Among these, North America leads due to a strong consumer base for fortified foods and supplements, as well as robust government-backed nutrition initiatives.
Report Coverage
This report provides both quantitative and qualitative insights into the global folic acid market. It covers market size, segment analysis, competitive dynamics, regulatory frameworks, and key industry developments. Additionally, it delivers a comprehensive overview of related markets, recent M&A activities, and growth trends shaping the future of the Vitamin B9 industry.
Major Companies Profiled:
- DSM – Firmenich (Switzerland)
- Jiangxi Tianxin Pharmaceutical Co., Ltd. (China)
- Parchem (U.S.)
- Nantong Changhai Food Additive (China)
- Xinfa Pharmaceutical Co., Ltd. (China)
- Foodchem International Corporation (China)
- Hebei Jiheng Pharmaceutical Co., Ltd. (China)
- Fengchen Group Co., Ltd. (China)
- Vivion (U.S.)
- Superior Supplement Manufacturing (U.S.)
Recent Industry Developments
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November 2024: The Department of Health in Northern Ireland announced mandatory fortification of non-wholemeal flour with folic acid to reduce cases of neural tube defects in newborns.
