Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Policosanol Market
Policosanol Market Size
Policosanol Market size was valued at over USD 310 million in 2022. Driven by the growing incidence of cardiovascular diseases globally, the industry is slated to grow at over 5.5% CAGR from 2023 to 2032.
Policosanol are extensively used in dietary supplements and pharmaceutical products, given their ability to reduce total cholesterol and increase LDL processing for better heart health. In fact, its long-term administration has been shown to increase HDL-C levels in older patients suffering from hypertension, which is a prominent cause of heart disease. Increasing occurrence of cardiovascular disorders globally is anticipated to bolster the demand for policosanol supplements, paving the way for industry growth.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 310 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.5 % |
| 2032 Value Projection: | USD 540 Million |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 350 |
| Segments covered: | Source, Grade, Extraction process, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Stiff competition from prescription drugs may constrain industry development
Despite such an optimistic scenario for product adoption, high availability of over-the-counter prescription medications may pose challenges to industry growth. Moreover, OTC medications have shown high efficacy in terms of managing cholesterol levels, which may hold back many consumers from spending on policosanol supplements. Additionally, high cost of dietary supplements affects their adoption in low-income economies with poor healthcare infrastructure, presenting major barriers to industry growth.
Policosanol Market Analysis
Based on source, policosanol market from sugarcane wax segment is poised to record a valuation of over USD 190 million by 2032. Owing to the high pharmacologic and nutraceutical value of sugarcane wax-derived policosanol, it finds huge applications in dietary supplements and pharmaceuticals. Growing pharmaceutical industry is anticipated to bolster the demand for sugarcane-derived policosanol. As per the IBEF, India’s drug and pharmaceutical exports were valued at over USD 24.60 billion in FY22.
In terms of application, policosanol industry share from dietary supplements segment is expected to grow at over 6% CAGR through 2023 to 2032. Rising consumption of dietary supplements owing to growing health awareness in a high pandemic-risk world has bolstered the demand for policosanol. As per NCBI, sales of vitamin supplements increased by approximately 63% in the UK after the initial lockdown of March 2020. Today, many governments-aided health agencies across the world are working on making dietary supplements more affordable to the general populous, which is likely to favor segment expansion.
Asia Pacific policosanol industry is slated to record a valuation of more than USD 180 million by 2032, on account of expanding dietary supplement industry. As per the Ministry of Food Processing Industries, the dietary supplements industry in India is expected to reach USD 10,198.57 million by 2026, indicating a 22% year-on-year growth rate.
Furthermore, surging sales of personal care products attributed to growing working population is also creating a strong impetus for regional business expansion.
Policosanol Market Share
Some of the prominent policosanol industry players are:
- Shreeji Pharma International
- BioCrick Co Ltd
- Ambe Phytoextracts
- Chengdu Biopurify Phytochemicals Ltd
- Botanic Healthcare
- Garuda International Inc.
Many companies are prioritizing expansion strategies to keep ahead of the competition. Citing an instance, in January 2023, Botanic Healthcare, an Indian manufacturer of plant-based products announced the opening of a new unit in Bangalore, India to expand its offerings of herbal extracts and be the leading supplier to the nutraceutical, pharmaceutical, and food and beverages industries.
Recently, the company also received the National Sanitation Foundation’s (NSF) NSF/ANSI 173, Section 8 certification in the US, which implies that its manufacturing unit meets the requirements of FDA’s Food Safety Modernization Act.
Impact of COVID-19 pandemic
The COVID-19 pandemic has had a negative impact on policosanol market on account of upheavals in supply chains due to prolonged industry closures. Additionally, the pandemic affected the operations of food processing and animal feed industry, which are major end-users of policosanol. However, growing sales of dietary supplements are likely to help the industry recover in the post-COVID-19 era. As per NCBI, in the U.S., the sales of multivitamins increased by 51.2% in March 2020.
The policosanol market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD and shipment in units from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
By Source
- Sugarcane wax
- Bees wax
- Wheat germ oil
- Rice bran
- Others
By Grade
- 90%
- 95%
- Greater than 95%
By Extraction Process
- Solvent extraction
- Supercritical carbon dioxide extraction
By Application
- Food processing
- Dietary supplements
- Pharmaceutical
- Animal feed
- Poultry
- Swine
- Ruminants
- Others
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Frequently Asked Questions (FAQ) :