The Latin America, Middle East and Africa Policosanol Market would witness market growth of 7.5% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 21.85 Tonnes, showcasing a growth of 8.5% (2023-2030).
The nutraceutical and dietary supplement industry has embraced the supplement for its potential health benefits. This supplement is often included in formulations targeting specific health concerns, such as heart health supplements, providing consumers with a convenient and accessible means of incorporating it into their daily routines. Evidence-based health claims support the acceptance of this supplement in nutraceuticals. Scientific studies and research exploring supplement’s effects on cholesterol levels and cardiovascular health provide a foundation for health claims that resonate with consumers seeking products backed by credible scientific evidence.
Beyond its cardiovascular applications, the supplement is finding a niche in the cosmeceutical and skincare industries. Its antioxidant properties and potential to support skin health have led to its incorporation in skincare formulations. As consumers seek multifunctional products that offer internal and external health benefits, supplement’s presence in skincare is rising. The integration of the supplement into functional foods and beverages has expanded its reach. From heart-healthy snacks to cholesterol-lowering beverages, manufacturers are exploring innovative ways to incorporate this supplement into everyday dietary choices, capitalizing on its potential health-promoting properties.
As per the data from the International Trade Administration, nearly 60% of pharmaceutical product purchases in the GCC are accounted for by Saudi Arabia. It is projected that by 2023, its pharmaceutical sector will have expanded by 5.5% annually and will be worth $10.7 billion. Additionally, as per the data provided by the Government of South Africa, in 2022 the estimated population of South Africa included more than five million people aged 60 or older. This represents a 9,2 percent share of the overall South African population. Therefore, with the rising pharmaceutical sector and aging population in LAMEA, there will be increased growth in the regional market.
The Brazil market dominated the LAMEA Policosanol Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,529.1 Thousands by 2030. The Argentina market is showcasing a CAGR of 8.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.2% during (2023 - 2030).
Based on Source, the market is segmented into Sugarcane, Wheat Germ, Beeswax, and Others. Based on Application, the market is segmented into Pharmaceutical Drugs, Dietary Supplements, Personal Care & Cosmetics, and Animal Feed. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Policosanol Market is Projected to reach USD 475.8 Million by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sabinsa corporation, Sunpure Extracts Private Limited, SHREEJI PHARMA International, Huzhou Shengtao Biotechnology Co., Ltd., Botanic Healthcare Group, Bioriginal Food & Science Corp (Cooke, Inc.), NOW Health Group, Inc. and India Glycols Limited.
By Source (Volume, Tonnes, USD Million, 2019-2030)
By Application (Volume, Tonnes, USD Million, 2019-2030)
By Country (Volume, Tonnes, USD Million, 2019-2030)
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