Through the acquisition of Botanic Pharma, Laprophan wishes to strengthen its position in the health market while opening up to new growth opportunities in the field of food supplements and cannabis-based products.
The Laprophan Group is entering a new phase of growth. The industrialist specializing in the pharmaceutical sector has, in fact, announced the majority acquisition of Botanic Pharma, a company specializing in natural food supplements. The transaction, still subject to regulatory authorizations, “strengthens and consolidates its position in the health sector,” the Group indicated.
According to the same source, this also involves expanding the product portfolio.
“This expansion allows us to expand our product portfolio in European and African markets, while expanding our capacity to export innovative and high-quality health products,” explains Laprophan in a comment post on his official page on Linkedin.
Note that in the two targeted markets, the demand for natural and innovative health solutions is growing strongly. This expansion aligns with Laprophan’s goal to become a leader in the dietary supplement sector, a growing field globally.
Food supplements, a market rich in opportunities
The global dietary supplement market is growing rapidly, driven by increasing awareness about health and wellness. According to a report by Grand View Research, the global dietary supplement market was valued at USD 140.3 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028. This trend is mainly driven by the rise in chronic diseases, an aging population, and a growing demand for natural and organic products.
Synergies
As part of this acquisition, Botanic Pharma brings to Laprophan its expertise in the development of natural food supplements. In addition, the company has recently obtained all the necessary certifications to develop cannabis-based products in Morocco. According to the same source, “Botanic Pharma will therefore welcome Laprophan’s research and development efforts as well as product lines for cannabis-based food supplements, opening new therapeutic perspectives”, in a market that is also booming. Medical cannabis and derived products are expected to reach a market of USD 146.4 billion by 2025, according to a report by Market Research Future.
Sami Nemli / ECO Inspirations
