According to a new report published by Acumen Research and Consulting titled “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”, the global market for Phytosterols is estimated to grow at a significant rate and reach the market value of over $2 Billion by 2026. Some of the major factors responsible for the market growth are continuously increasing number of patient suffering from various diseases, technological advancement, and advancement in biotechnological field. Apart from this, rapid development in the economies, and continuous development in the healthcare sector have boosted the growth of the market.
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Phytosterols are a group of naturally occurring compounds found in plant cell membranes and are structurally similar to the body’s cholesterol. This steroid helps in the reducing the colestrol level in the body. Increasing prevalence of various diseases is one of the driving factors of phytosterols market. Various health benefits, and naturally occurrence has helped in the adoption of the products. Additionally, the beneficial effects such as anti-cancerous and anti-oxidant property against various chronic conditions, will support the market growth in near future. During last few years, development in the technology and biochemistry has led to the introduction of the various biological products and extracts which in turns will create a huge opportunity for the market growth.
North America to dominate the global market
North America phytosterols market is expected to account for largest share of the global phytosterols market owing to the high number of cardiovascular patients present in the region. Additionally, countinuously rising prevalence of sudden cardiac arrest in the region is the other factor which directly influencing the market growth. According to the Sudden Cardiac Arrest Foundation (SCA), more than 356,000 sudden cardiac arrest occurs in the U.S. every year. Presence of global players and ongoing research & development regarding phytosterols are the other factors which are supporting the market growth in the region.
Leaning trend towards fast foods and other fatty food products is influencing the market growth. Diabetes is one of the major reasons for the occurrence of cardiovascular diseases. Increasing prevalence of diabetes due to smoking habits is expected to boost the market growth during the forecast period 2018–2026.
Asia Pacific is expected to be the fastest growing market. Continuously increasing obese population and changing lifestyle have supported the growth of the market in this region. India and China are the major contributor and are the fastest growth market owing to the presence of huge untapped opportunity in the market. In near future, developing regions and countries will possess a huge opportunity for the market growth. Continuously increasing government support and increasing healthcare spending of the people have supported the market growth in this region.
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Europe holds the second leading position for the market. Whereas, LAMEA is expecting a steady growth for the market.
Top strategies adopted by top players to minimize the competition
At present, β-sitosterols and Campesterol have witnessed large-scale adoption of phytosterols supplements. Rising government support has elevated the need for phytosterols and its related products. During last few years, there is a significant increase in the demand for the various types of natural products. To withstand the competition, the major players in the global phytosterols market have adopted different key business strategies, such as acquisitions, collaboration, product launch, and many others. Product launches strategy is most widely adopt strategies among the various companies in the market.
Some of the leading companies operating in the global phytosterols market are BASF, Unilever, DuPont, ADM, Cargill, Raisio, and Arborisand.
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