Market Definition:
Phytosterols are plant products that help in maintaining body cholesterol levels by restricting the cholesterol absorption by the body. It also helps in maintaining a healthy body and prevents disorders like obesity and cardiovascular diseases. Phytosterols are supplemented in functional foods, supplements, and other products to block the absorption of cholesterol, restrict the appetite, and to speed up the body metabolism.
Market Scenario:
The amount of population suffering from cardiovascular diseases, obesity, and unnecessary body fat deposition is increasing periodically, which is a great concern among the growing population. This has amplified the application of phytosterols from several industries such as functional foods, dietary supplements, pharmaceuticals, and others.
Increasing health conscious population and their awareness towards overall health is boosting the market for phytosterols. Moreover, inclination of consumers towards the consumption of plant derived products is adding fuel to the growth of the phytosterols market. Moreover, increasing demand for phytosterol products in the developed countries of Europe and North America is boosting the demand for phytosterols. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the phytosterols market during the forecast period, 2018-2023. However, stringent laws requiring approval for the use of these ingredients in supplements and food preparations may hamper the phytosterols market growth over the assessment period.
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Key Players:
Some of the key players profiled in the global phytosterols market: Cargill Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), BASF SE (Germany), Bunge Ltd. (U.S.), E. 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.), and Danone (France)
Key Findings:
Phytosterols have a massive opportunity in the supplements industry
Germany is among the top consumers of phytosterols in the North American region
Apr 2018, Lipofoods SLU, has launched its palm-free LIPOPHYTOL phytosterol system. This highly concentrated, water-dispersible source of plant sterols in an easy-to-use format is designed to support cardiovascular health
Segments:
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 owing to their usage in a wide range of medicinal products and supplements especially for treating colon and cervical cancer. Additionally, high demand for phytosterols-rich food is driving the growth of this segment.
On the basis of the application, it is segmented into food products, pharmaceuticals, supplements, cosmetics, and others. Among all the applications, food products segment is dominating the market owing to the rising demand for phytosterols in various food preparations as an alternative to the conventional cholesterol. Additionally, rising awareness regarding cardiac and health in the population and associated health benefits with the consumption of phytosterols is driving the market growth.
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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 phytosterols market followed by North America and is expected to retain its dominance over the forecast period, 2018-2023. Germany is a major consumer of phytosterols in form of supplements and functional food owing to rising prevalence of obesity and other chronic diseases. Furthermore, high demand for phytosterols in functional food & beverages industry is considered to be the key driving factor in this region.
Moreover, owing to the increasing consumer awareness and growing demand for functional food & beverages supplemented with phytosterols in Asia Pacific region including countries like India, and China, a strong growth is anticipated in the phytosterols market in this region.
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