Market Overview:
Growing demand for supplements and food products prepared from plant sources useful for preventing cardiovascular diseases, obesity, and other body weight-related disorders has uplifted the demand for phytosterols. Among all, the beta-sitosterol is being a majorly used ingredient in the preparation of food and supplements. Increasing prevalence of diseases, for instance, cardiac arrest, artery blockage, obesity, and many others has increased the application of phytosterols in various industries such as dietary supplements, pharmaceuticals, and functional food & beverages.
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Market Forecast:
Phytosterols help in reduction and management of body weight and prevent disorders like cardiovascular diseases, obesity, and unnecessary body fat deposition. Continuously increasing obesity and other body weight related issues across the globe have turned up an opportunity for supplements and functional food and beverage industry to include plant-derived ingredients in their products, which is driving the growth of the phytosterols market.
Increasing health awareness among the consumers is further adding fuel to the growth of the phytosterols market. Additionally, high preference towards functional food and beverages is increasing the demand for phytosterols. However, non-defined stringent laws in the use of phytosterols in certain food & beverages may hinder the market growth.
Key manufacturers are emphasizing on new product development in order to enhance the customer base. Apart from that, the key players are promoting their products through advertisements in television and social media, which, in turn, is escalating the phytosterols demand. The global phytosterols market is expected to grow at a CAGR of 8.7% during the forecast period, 2017-2023.
Downstream analysis:
The global phytosterols market is segmented into type and application.
On the basis of the type, it is segmented into beta-sitosterol, campesterol, stigmasterol, and others. Among all, the beta-sitosterol segment is dominating the market.
On the basis of the application, it is segmented into food products, pharmaceuticals, supplements, cosmetics, and others. Among all the applications, the food products segment is dominating the market owing to rising demand for phytosterols in various food preparations.
The major players in the phytosterols market
Cargill Inc. (U.S.)
Archer-Daniels-Midland Company (U.S.)
BASF SE (Germany)
Bunge Ltd. (U.S.)
I. du Pont de Nemours and Company (U.S.)
Raisio Plc. (Finland)
Pharmachem Laboratories, Inc. (U.S.)
Gustav Parmentier Handeslgesellschaft GmbH (Germany)
Arboris, LLC (U.S.)
Danone (France)
Regional Analysis:
The global phytosterols market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the global market followed by North America. Europe is accounted for a greater consumption of phytosterols in supplements and food preparations owing to increasing rates of obese population and other cardiovascular diseases. Additionally, the high demand for phytosterols in functional food & beverages industry is considered to be a significant driving factor in this region.
Furthermore, owing to increasing consumer awareness and high demand for functional food & beverages supplemented with plant-derived products in Asia Pacific countries such as India and China, the phytosterols market is expected to grow at a steady pace. However, stringent regulations in the developed economies of North America and Europe region are expected to restrain the market growth in these regions.
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