Policosanol Market Analysis

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.