Folate Market Trends

Growth Drivers

• Growing prevalence of kidney disease - According to NCBI, over 10% of the population globally is affected by chronic kidney disease. This percentage further indicates about 800 million people.
  
  The major influencing factor in CKD patients poor maternal nutrition, notwithstanding improvements, remains significantly widespread in huge parts of the world. As a result, it increases the likelihood of gestational hypertension and diabetes. Hence, the demand for folate is also evaluated to rise since it helps reduce homocysteine levels.
• Growing importance of folate among health-conscious people - The pandemic affected numerous facets of daily life. In 2020, nutrition for improving immunity became the top concern for people worldwide.
  
  For instance, around the world, nearly 59% of consumers believe the pandemic has rendered them more aware of the significance of living healthy lives in avoiding health problems. Moreover, while consumers were less worried about COVID-19 in April 2022 (about 43%) than in April 2020 (close to 75%), they remained enthusiastic about adopting fundamental nutritional changes. Therefore, the demand for folate is estimated to rise among the adult population due to busy lifestyles.
• Rising geriatric population - According to the WHO, 1 in 6 people in 2030 across the globe is poised to be aged 60 years or over. Studies have indicated that seniors who consume the required daily dose of folic acid improve their mental agility and cognitive function. Moreover, folic acid improves digestion of proteins and amino acid metabolism.

Challenges

• Growing price of folate - The folate market is expected to be hampered by increasing issues related to high doses and vitamin B12 deficiency. Furthermore, rising prices and a tight supply-demand chain may pose challenges in the upcoming years.
• Lack of awareness among consumers - Consumers' ignorance of the benefits of fortified foods or folate supplements may impede market growth. Customers need to be educated on the positive effects of folate in reducing birth defects and improving overall health for the folate market to grow.
• Growing competition from alternative products - The growth in the folate market products might be hindered by competition from additional nutrients or supplements that offer similar health benefits. Consumers who acquire fortified foods or alternative supplements may have an impact on the market for folate-specific products.