New York, United States, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Global Policosanol Market Size is to Grow from USD 303.6 Million in 2022 to USD 583.6 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 6.7% during the projected period.
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Policosanol is a natural antioxidant made from sugarcane, beeswax, or wheat germ wax. It is made up of a variety of long-chain alcohols, the most important of which is octacosanol. Policosanol has grown in popularity as a dietary supplement due to its possible health advantages, notably in terms of cardiovascular health. The increased prevalence of cardiovascular disorders around the world is predicted to increase demand for policosanol supplements, paving the way for market growth. As a result of changing lifestyles and the increasing occurrence of health conditions, the demand for policosanols supplements continues to climb among health-conscious customers. Furthermore, the numerous health benefits associated with policosanols are increasing demand for these products. Growing health problems as a result of poor nutrition are a major driving force in the policosanol industry. In a lot of countries, the prevalence of lifestyle diseases is increasing in all age categories, from children to the elderly. Diabetes, high cholesterol, and arthritis are all on the rise, fueling demand for the policosanols market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Policosanol Market Size, Share, and COVID-19 Impact Analysis, By Source (Sugarcane, Wheat Germ, Beeswax, Rice Bran, Others), By Extraction Process (Solvent Extraction, Supercritical Carbon Dioxide Extraction), By Application (Personal Care & Cosmetics, Dietary Supplements, Pharmaceutical Drugs, Food Processing, Animal Feed, Nutraceutical, Pet Food, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The sugarcane segment is dominating the market with the largest revenue share over the forecast period.
On the basis of source, the global policosanol market is segmented into sugarcane, wheat germ, beeswax, rice bran, and others. Among these, the sugarcane segment is dominating the market with the largest revenue share of 47.6% over the forecast period. Population growth, changes in purchasing habits, industrial applications, economic expansion, bio-based goods, and the constant demand for sugar as an edible component have all contributed to an increase in the total expected sales of the policosanol market over the forecast time frame.
The solvent extraction segment is witnessing significant CAGR growth over the forecast period.
On the basis of the extraction process, the global policosanol market is segmented into solvent extraction and supercritical carbon dioxide extraction. Among these, the solvent extraction segment is witnessing significant CAGR growth over the forecast period. This increase could be attributed to its superior convenience, ease of use, and adaptability when compared to alternative extraction methods.
The pharmaceutical drugs segment accounted for the largest revenue share of more than 67.3% over the forecast period.
On the basis of application, the global policosanol market is segmented into personal care & cosmetics, dietary supplements, pharmaceutical drugs, food processing, animal feed, nutraceutical, pet food, and others Among these, the pharmaceutical drugs segment is dominating the market with the largest revenue share of 67.3% over the forecast period. This is due to the fact that the pharmaceutical sector is rapidly developing as a result of population growth, increased R&D activities, technical advancement, and increased focus on this sector.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 53.7% market share over the forecast period. Countries such as India, China, and Japan are likely to enhance the Asia Pacific policosanol market. Because of increased demand in the pharmaceutical sector, where policosanol is most commonly utilized, the region has a huge opportunity for policosanol growth. Furthermore, the pharmaceutical business in India and Japan has expanded significantly for a variety of reasons, including a large national market, increased healthcare spending, government efforts, R&D technological improvement, and other factors that have propelled the policosanol market. On the other hand, North America is predicted to expand the fastest during the forecast period. This is due to the region's growing interest in functional foods and supplements made from natural ingredients.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Policosanol Market include Laboratories Dalmer S.A., Risun Bio Tech Inc., Marcor, Douglas Laboratories, Now Foods, India glycols Ltd, Botanic Healthcare, Sami Labs Ltd., Garuda International Inc., Hainan Zhongxin Chemical, Herblink Biotech Corporation, Bioriginal Food & Science Corp, Shreeji Pharma International, Manus Aktteva Biopharma LLP, and many others.
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Key Market Developments
- In June 2022, A merger occurred between IGEA Pharma N.V. and Blue Sky Swisse SA. The latter will be in charge of carrying out commercial processing processes for cannabidiol, terpenes, policosanol, and other vegetable matrices. Both organizations will also commence the market introduction of the given solutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Policosanol Market based on the below-mentioned segments:
Policosanol Market, Source Analysis
- Sugarcane
- Wheat Germ
- Beeswax
- Rice Bran
- Others
Policosanol Market, Extraction Process Analysis
- Solvent Extraction
- Supercritical Carbon Dioxide Extraction
Policosanol Market, Application Analysis
- Personal Care & Cosmetics
- Dietary Supplements
- Pharmaceutical Drugs
- Food Processing
- Animal Feed
- Nutraceutical
- Pet Food
- Others
Policosanol Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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