In 2017, the global phytosterols market was approximately 591.4 million USD and is expected to grow at the CAGR of 9.6% during the forecasted period to attain 2 Billion USD by 2026.
Phytosterols are partially absorbed by the human digestive tract and also the other mammals. Chemical structure of the phytosterols is similar to that of the cholesterol with extra alkyl group due to which it acts as the natural cholesterol blocker. Less cholesterol absorption in the body results into low-density lipoprotein (LDL) containing blood levels which results into lowering the threat of cardiac diseases especially the coronary heart diseases.
The market research study on “Phytosterols Market (By Product: Beta-sitosterol, Campesterol, Stigmasterol, Others; By Application: Food Ingredients, Pharmaceuticals, Cosmetics) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global phytosterols market. The report also analyzes the key players operating in phytosterols market and identifies the key strategies deployed by them along with the market share of leading players. The global phytosterols market is segmented as below:
Phytosterols Market by Product
Phytosterols Market by Application
Phytosterols Market by Geography
The global phytosterols market is expected to grow at a CAGR of 9.6%. Increase in prevalence of cardiac diseases and other diseases related to the high levels of cholesterol in the body are driving the global phytosterols market. Other factors which are fuelling the market growth are growing awareness among people regarding cardiac arrest, stroke, and other diseases related to cholesterol and rising favorable government regulations regarding phytosterols. In the developed regions including North America and Europe, people are getting aware of the high amount of cholesterol in the body and diseases associated to it. According to the Sudden Cardiac Arrest Foundation (SCA), more than 356,000 sudden cardiac arrest occurs in the U.S. annually out of which 90% are fatal.
However, stringent government regulations of the U.S. Food & Drug Administration (FDA) regarding approvals of the phytosterols and unaffordable prices in the developing countries are some of the vital factors which may hamper the market growth. Lack of awareness in the under developed region including Latin America & Africa is the other factor which might affect the global phytosterols market growth negatively.
The phytosterol includes products such as beta-sitosterol, campesterol, stigmasterol, and others. On the basis of application the market is segmented into food ingredients, pharmaceuticals, and cosmetics.
Geographically, the global phytosterols market is segmented into North America, Europe, China, Japan, Southeast Asia, India, South America, and Middle East and Africa.
North America dominates the global phytosterol market owing to the developed economy, high awareness among people regarding diseases associated with the high levels of cholesterol in the body, and favorable government regulations regarding use of phytosterols. Other factors which are positively influencing the market growth in the region are availability reimbursement policies and rise in per capita income of people.
Europe is accounts for second largest share of the global phytosterols market owing to the presence of major players in the region. Ongoing research & development regarding phytosterols in Europe and increasing awareness among people regarding the use of phytosterols to manage cholesterol levels in the body are some of the other factors which are supporting the market growth.
Asia Pacific is the fastest growing region for the phytosterols market owing to the large population base and high number of people suffering from cardiac diseases, especially in India, China, and Japan. Entry of the global players in the Asia Pacific regional market has uplifted the regional market share in the global phytosterols market.
South America accounts for least share of the market owing to lack of awareness regarding use of phytosterols and cardiac diseases regarding high cholesterols. Poor healthcare infrastructure and low per capita income of people coupled with low healthcare expenditure are some of the other factors which are restraining the market growth in the region.
Being one of the potential market a number of companies are trying to introduce new and cheaper products. Some of the leading companies operating in the global phytosterols market include BASF, Unilever, DuPont, ADM, Cargill, Raisio, and Arborisand.