Rising demand for natural ingredients and organic products among consumers is creating growth opportunities for market players.
DUBAI, UAE / ACCESSWIRE / April 19, 2021 / ESOMAR-certified Future Market Insights' recent report on policosanol market forecasts a healthy growth outlook through 2021 and beyond. According to FMI, policosanol sales rose at 4.6% in 2020. With an increasing shift towards natural food products and supplements, the market is projected to grow at an impressive 5.4% CAGR through 2031.
Changing lifestyle and rising prevalence of chronic diseases such as cholesterol, diabetes, and cardiovascular problems is a key driver for the growth of policosanol market. Advantages such as weight control, improved skin health and many more have prompted the key players for a steady production of natural food supplements, increasing the policosanol products sales.
Surge in demand for sugarcane wax and dietary supplement is expected to foster the policosanol product sales due to the various health benefits associated with their usage. Hence, policosanol product manufacturers are largely focusing on the production of sugarcane wax & dietary supplements, bolstering the growth.
"Leading food producers are investing heavily in research and development activities to develop supplements and products using natural ingredients. Their focus on offering premium quality food products will push policosanol sales," remarks the FMI analyst.
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Key Takeaways
- Supercritical CO2 extraction process is the most preferred by the manufacturers
- Dietary supplements is expected to be the primary end user for policosanol market
- Healthcare advantages such as combating heart disease to make sugarcane wax the most used source of policosanol
- U.S. is estimated to remain dominant backed by the extensive usage of policosanol in pharmaceutical and nutraceutical industry
- Rice bran wax is expected to emerge as a potential segment through 2031
- Brazil is expected to hold over 39.8% market share in 2021
- High consumption of junk food and rising incidence of lifestyle disease such as cholesterol and diabetes to create lucrative growth opportunities for Indian policosanol manufacturers
- Germany is expected to spearhead the growth in European market
- Australia is expected to reach a valuation of US$ 27.1 Mn in 2031
Prominent Drivers
- Rising preference for natural ingredients over chemical is driving the demand for policosanol market
- Consumers inclination for better quality food products is creating growth opportunities for leading premium quality brands & players
- Higher demand for low-cholesterol products and high density lipoprotein is expected to create attractive sales opportunities for policosanol market
- Rising prevalence of life-style diseases such as cardiovascular problems and cholesterol to boost the demand for policosanol products
Key Restraints
- Increasing side effects such as headache and weight loss with the consumption of policosanol supplements is likely to hamper the growth
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Competitive Landscape
AmbePhytoextracts, Marcor-An Azelis Company, Douglas Laboratories, Now Foods, Garuda International Inc., Hainan Zhongxin Chemical, Herblink Biotech Corporation, HuzhouShengmaBiochem Co. Ltd., India Glycols Ltd., laboratories Dalmer S.A., Nutritopper Biotechnology, Risun Bio-tech Inc. and Sami Labs Ltd. among others are some of the prominent manufacturers profiled by Future Market Insights. Heightened investment in R&D activities to upgrade their product portfolios seems to be the key strategy for the leading players to maintain the competitive edge in the market.
In 2020, LGM Pharma announced the acquisition of formulation and pharmaceutical development unit of Nexgen Pharma Inc. The acquisition enables LGM Pharma to combine the sources with Nexgen Pharma's comprehensive drug product contract development and manufacturing (CDMO) services. This acquisition will help pharmaceutical and biotechnology customers accelerate and optimize the new product portfolios, R&D and clinical development through manufacturing, regulatory submission, distribution and commercialization
More Insights on FMI's Policosanols Market
Future Market Insights offers an incisive coverage on global policosanol market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to gain a better perspective of the global market potential, its growth, trends, and challenges, the market is segmented on the basis of source (sugarcane wax, bees wax, rice bran, wheat germ, and others), grade (0.90 policosanol, 0.95 policosanol, 0.99 policosanol), extraction process (solvent extraction, and supercritical CO2 extraction), application (food processing, personal care & cosmetics, dietary supplements, nutrace utical, animal feed, and pet food) across major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and MEA).
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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SOURCE: Future Market Insights