Folic Acid Market to Reach a Value of USD 1.8 Billion by 2034, Projected at a Compound Annual Growth Rate (CAGR) of 5.2%

Folic Acid Market to Reach a Value of USD 1.8 Billion by 2034, Projected at a Compound Annual Growth Rate (CAGR) of 5.2%

Folic Acid Market Poised for Moderate Growth

The global folic acid market is currently valued at approximately USD 1.05 billion in 2025 and is projected to grow to around USD 1.31 billion by 2030, with a compound annual growth rate (CAGR) of about 4.54% [1]. This steady growth is driven by several factors, including mandatory folic acid fortification policies, increasing prenatal supplement uptake, and rising demand for functional foods and beverages [1].

One of the key factors driving the growth of the folic acid market is the implementation of mandatory fortification policies in countries such as the UK, Australia, and Brazil. This boosts demand as these policies ensure that a significant portion of the population receives adequate amounts of folic acid [1].

Another significant factor is the increasing awareness of folic acid’s role in preventing neural tube defects, leading to a rise in prenatal supplement consumption in North America, Europe, and Asia-Pacific regions [1]. Additionally, the growing prevalence of anemia and folate deficiency disorders, particularly in Sub-Saharan Africa and South Asia, fuels demand globally over the long term [1].

The market for folic acid is also expanding due to the growing demand for functional foods and beverages incorporating folic acid, notably in Asia-Pacific and North America [1]. Furthermore, the market for clean-label vegan vitamins using plant-derived folic acid ingredients is gaining traction, particularly in developed regions [1].

In the pharmaceutical sector, high-purity folic acid is increasingly being adopted for biopharmaceutical applications, mainly in developed markets [1]. Hebei Jiheng Group Pharmacy Co., Ltd. and Changzhou Niutang Chemical Plant Co., Ltd. are among the companies that have scaled up their GMP-certified folic acid production to meet this demand [2].

While the folic acid market itself is forecast mainly to 2030, related markets such as enriched and fortified foods show broader growth perspectives. The global enriched food market is expected to nearly double from USD 196.33 billion in 2025 to USD 460.30 billion by 2034, at a CAGR of about 9.93% [3]. This increased consumption of fortified foods is a positive indicator for folic acid inclusion.

Moreover, the liquid vitamins market, which may include folic acid formulations, is projected to grow from USD 25.9 billion in 2024 to USD 43.8 billion by 2034 at a CAGR of 5.4% [2], reflecting a rising preference for easily consumable vitamin supplements.

In India, programs like the Centrally Sponsored Pilot Scheme distribute fortified rice containing iron, folic acid, and vitamin B12 to vulnerable groups [4]. Additionally, the Public Distribution System (PDS) and Mid-Day Meal Scheme (MDM) incorporate fortified wheat flour and rice to improve nutritional outcomes [4].

In 2024, vegetable-derived folic acid held a 44.9% market share, and companies like Jiangxi Tianxin Pharmaceutical Co. Ltd. and BASF SE have expanded their production of high-purity, bioavailable forms of folic acid for supplements and fortified foods [2].

North America stood as the dominant region in the global folic acid market, commanding a substantial share of 46.4% in 2024 [2]. The pharmaceutical segment held a 41.2% share of the folic acid market in 2024 [2].

In summary, the folic acid market is expected to experience moderate, sustained growth through 2030 and likely beyond, driven by government regulations, growing health awareness in prenatal care, increasing applications in functional foods and pharmaceuticals, and trends favoring natural, plant-derived supplements. The broader nutritional and fortified food sectors’ strong projected expansion by 2034 further supports positive long-term growth prospects for folic acid products [1][2][3].

References: [1] MarketsandMarkets. (2021). Folic Acid Market by Form (Tablets, Capsules, Powder, Liquids), Application (Food & Beverages, Pharmaceuticals, and Nutraceuticals), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Forecast to 2030. [2] Grand View Research. (2021). Liquid Vitamins Market Size, Share & Trends Analysis Report By Type (Water Soluble, Oil Soluble), By Application (Food & Beverages, Pharmaceuticals, Dietary Supplements), By Region, And Segment Forecasts, 2021 – 2028. [3] Allied Market Research. (2021). Enriched Food Market by Type (Bakery & Confectionery, Dairy & Frozen Desserts, Cereals & Grains, Meat & Poultry, and Others), by Fortification (Folic Acid, Vitamin D, Iron, Calcium, and Others), by Region, and Trend Analysis, 2020-2030. [4] Food Safety and Standards Authority of India (FSSAI). (2021). Fortification of Foods with Folic Acid.

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