Global Folic Acid Market to Reach $1.1 Billion by 2030
The global market for Folic Acid estimated at US$699 Million in the year 2023, is expected to reach US$1.1 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2023-2030. Folic Acid Tablets, one of the segments analyzed in the report, is expected to record a 7.3% CAGR and reach US$479.2 Million by the end of the analysis period. Growth in the Folic Acid Lozenges segment is estimated at 6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $181.7 Million, While China is Forecast to Grow at 9.9% CAGR
The Folic Acid market in the U.S. is estimated at US$181.7 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$261 Million by the year 2030 trailing a CAGR of 9.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.8% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$154.3 Million by the year 2030.
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