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Phytosterols Market worth $721.26 Million by 2020
The report “Phytosterols Market by Type (Beta-sitosterol, Campesterol, and Stigmasterol), Application (Food, Pharmaceuticals, Cosmetics, and Feed) & by Region - Global Trends & Forecast to 2020, defines and segments the global phytosterols market with an analysis of current demand and forecasted consumption in terms of volume ($million). It also identifies the driving and restraining factors for the global phytosterols market with an analysis of trends, drivers, restraints, opportunities, and challenges. The market is segmented on the basis of types and application segments for phytosterols.
Browse 82 market data tables and 70 figures spread through 194 pages and in-depth TOC on “Phytosterols Market by Type (Beta-sitosterol, Campesterol, and Stigmasterol), Application (Food, Pharmaceuticals, Cosmetics, and Feed) & by Region - Global Trends & Forecast to 2020 ”
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The market is segmented and market values are forecasted for the major regions, such as North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW). The key countries are covered and their market sizes have been forecasted for each region. Further, the market is segmented and market values are forecasted on the basis of types and applications.
Phytosterols are plant stanols and sterols and found in the fatty tissues of plants. Phytosterols cannot be synthesized by humans and animals due to which they need to be included in the diet. Phytosterols have a chemical structure similar to cholesterol (except for the addition of one ethyl or methyl group); however, the absorption of phytosterols in humans is much lesser that that of cholesterol. Phytosterols are naturally found in all items of plant origin; mainly oils, but also in dried fruits and pulses.
Consumers across the world are becoming more health conscious for foods with additional benefits such as low cholesterol and reduced disease risks. Phytosterol-rich food diets help in reducing cholesterol absorption and reduce the risks of heart diseases. Rapid advances in science and technology, increasing health care costs, aging population, and rising awareness of customers in attaining wellness through diet are the major factors driving the demand for functional food and beverages as well as ingredients such as phytosterols and carotenoids.
The high-growth potential in emerging markets and untapped regions provides new growth opportunities for market players. The growth of this market is driven by growing customer attention towards superior quality food, which should be balanced and nutritive.
The global market for phytosterols was estimated at $438.45 Million in 2014 and is projected to reach $721.26 Million by 2020, at a CAGR of 8.7% from 2015 to 2020. Europe dominated the global market and is expected to be the fastest-growing in the near future owing to the health concerns in the region.
The enormous health benefits of phytosterols are projected to drive the market globally. Its increasing end-use applications and increasing number of deaths caused by cardiovascular diseases are major driving factors of phytosterols market, globally. Feed manufacturers and animal nutritionists are focusing on the development of functional animal products (poultry, milk, and meat) enriched with phytosterol, which is important for improving health and meat quality for human consumption.
The phytosterol industry has many players (small, medium, and large); however, the industry is dominated by a few. Raisio Plc. (Finland), BASF SE (Germany), and Bunge Limited (U.S.) collectively account for more than half of the total phytosterols market. Acquisition was found to be the most preferred growth strategy in the phytosterols market. Other players such as Pharmachem Laboratories, Inc. (U.S.), DuPont (U.S.), Cargill Inc. (U.S.), ADM (U.S.), Arboris, LLC (U.S.), HyPhyto Inc. (U.S.), and Gustav Parmentier GmbH (Germany) also have a strong presence in the market.
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