Global Policosanol Market size is poised to attain notable gains through 2032, owing to favorable government policies pertaining to the use of dietary supplements. Many governments across the globe are undertaking active efforts to make dietary supplements and nutraceuticals accessible and affordable for the public, which is likely to impact the industry landscape positively.
Moreover, rising health awareness among consumers has increased the consumption of dietary supplements, further complementing industry growth. As per the Ministry of Food Processing Industries, the dietary supplement industry in India has a 22% year-on-year growth rate.
The overall policosanol market is categorized on the basis of source, grade, extraction process, application, and region.
Based on the source, the policosanol industry size from the wheat germ oil segment is expected to expand through 2032. Studies claim that a high concentration of policosanol in wheat germ oil can improve physical fitness, which makes it suitable for dietary supplements. The oil has proven efficacy in boosting energy capacity and lowering LDL cholesterol for better heart health. An increased cognizance of the health benefits of wheat germ oil will contribute to segment expansion.
Based on grade, the policosanol market share from the 95% segment is anticipated to grow at more than 5% CAGR from 2023 to 2032. 95% grade policosanol finds extensive usage in food processing applications such as confectionery and bakery. Increasing government investments in food industries is likely to increase product demand. As per the USDA, in February 2023, the U.S. government announced an investment of over USD 59 million to strengthen the food supply chain across the country. Such moves will help create a favorable growth outlook for the policosanol industry.
In terms of application, the policosanol industry size from the pharmaceutical segment is poised to grow substantially through 2032. Given its ability to increase high-density lipoprotein (HDL) and reduce total cholesterol levels for managing heart health, policosanol is widely used in pharmaceutical supplements. Rapidly expanding pharmaceutical sector in developed as well as developing economies is likely to increase product uptake. As per Invest India, the pharmaceutical industry in the country has the potential to reach USD 65 billion by 2024. This may favor the market dynamics in the long run.
Europe policosanol market size is expected to record USD 110 million by 2032. Growing demand for plant-based and natural supplements due to rising health awareness birthed by the pandemic is complementing regional market expansion. Moreover, the region is also a home to vegan population that spends considerably on plant-based nutraceuticals and dietary supplements. Many companies having a strong presence in Europe are working on product innovations that will also positively impact regional growth.