According to MarketsandMarkets, the phytosterol market is projected to reach USD 1.6 billion by 2028 from USD 1.0 billion by 2023, at a CAGR of 8.3% during the forecast period in terms of value. The demand for Foods and supplements enriched with phytosterols are consumed globally to meet dietary goals and keep high cholesterol in check. Due to their anti-aging and anti-inflammatory properties, they are also popular in the cosmetics & personal care products industry.
The key players in this market include ADM (US), BASF SE (Germany), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ashland (US)Matrix Life Science (India), AOM (Argentina), Lipofoods (Spain), Avanti Polar Lipids (US), DRT (France), Wilmar International Ltd (Singapore), VITAE NATURALS (Spain), TAMA BIOCHEMICALS CO., LTD (Japan), BOC Sciences (US), Herbo Nutra (India). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to increase their global market presence.
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ADM (US), ADM mainly manufactures food, animal feed, and feed additives. It is a major participant in the agricultural processing and food ingredient industries. The corporation also trades, transports, stomps, and processes numerous grains and commodities. The company's global network includes more than 190 nations. Ag services and oilseeds, carbohydrate solutions, nutrition, and other business are the company's four business segments. It produces phytosterols for human consumption and other food applications via the Nutrition sector. ADM's production facilities are SEDEX, HACCP, SGS North America, Ecocert ICO, and APHIS certified. In January-2022 ADM recently announced the opening of its first Science and Technology (S&T) Center in China. This opening is an important milestone in the company’s continued investment to bring new nutrition and health innovation to meet growing demand in China.
BASF SE (Germany), a German multinational corporation that works in seven primary business segments: chemicals, materials, industrial solutions, surface technologies, corporate functions, nutrition and care, and agricultural solutions. Phytosterols are offered by the corporation through its human nutrition segment, which is a subsegment of nutrition & care. BASF SE has prioritised innovation since its founding and has many innovation sites across the world. The BASF SE Group has subsidiaries and joint ventures in over 100 countries and runs six integrated manufacturing sites as well as 390 other production sites throughout Europe, Asia, Australia, the Americas, and Africa.
International Flavors & Fragrances Inc. (US), is an international firm that manufactures animal health solutions, extracts and flavourings, carob proteins, cellulose gums, and cultures for plant-based foods, among other things. The firm is involved in a variety of industries, including animal nutrition, antimicrobial fabric protection, biorefinery, brewing, nutritional supplement, fabric & home care, food& beverage and hygiene, and odour control. It operates in four key business segments: nourish, health and biosciences, fragrance, and pharmaceutical solutions. It provides phytosterols in its nourish segments. Since its inception, the company has placed a strong emphasis on research and development, investing a significant amount of money in R&D activities each year. In October 2020, the company also opened a new creation, application, and innovation centre for its taste division in Dubai, United Arab Emirates, to better meet the specific needs of its customers and spur growth in the African, Middle Eastern, Turkish, and Indian markets. Over 200 countries have been profoundly marked by IFF's presence.
Phytosterols Market by Composition (Beta-Sitosterol, Campesterol, Stigmasterol), Application (Food & Beverages, Pharmaceutical, Cosmetics & Personal Care Products, and Feed), Form( Dry, Liquid), Source and Region - Global Forecast to 2028
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