Phytosterols Market: Snapshot
One of the chief reasons behind the healthy growth of the phytosterols market is the thriving processed food industry. The increased packaged food consumption owing to busy and hectic lifestyles will drive the demand for phytosterols market across the globe, especially in the BRICS nations. Phytosterols is also an active ingredient in chocolate formulations and helps in maintaining the functionality of the product, in addition to enhancing its shelf life. They are also being used as additives in many food products such as bakery items, milk, sausages, yogurts, and margarine. The growing incidences of cardio vascular diseases among consumers from all age groups are leading to a demand for healthy ingredients that reduce the risk of lifestyle diseases. The approval by regulatory bodies such as FDA, EU SFC, and others for the use of phytosterols in food products is expected to fuel the growth of this market.
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Increased use of phytosterols in anti ageing creams and use in other cosmetic products owing to its anti-inflammatory property will propel the demand for this product. The growing preference among consumers towards ingredients which are natural and rising awareness about the adverse effects of using products derived from petrochemicals will bolster the growth of the global phytosterols market. The use of phytosterols improves skin elasticity and reduces skin roughness, which will ensure the high use of this product within the cosmetic industry in the years to come.
Global Phytosterols Market: Overview
The vast health benefits of phytosterols are driving the phytosterols market globally. The increasing end-use applications of phytosterols and increasing mortality due to cardiovascular diseases are further driving the global phytosterols market. Feed manufacturers are focused on the development of phytosterol fortified foods, which includes functional animal products such as milk, poultry, and meat, for improved health benefits.
Moreover, across the world, the increasing demand for superior quality food that offers balanced nutrition is leading to the growth of this market. The high-growth potential of developing markets and untapped regions are expected to present lucrative growth opportunities for market players.
Phytosterols, also known as plant sterols are found in the fatty tissues of plants. Phytosterols are structurally similar to cholesterol except for one ethyl or methyl group; however, the Phytosterols are naturally found in plant-derived products such as oils, dried fruits, and pulses.
The global phytosterols market can be segmented on the basis of type, application, and region.
Global Phytosterols Market: Trends and Opportunities
Across the world, individuals are becoming more health conscious and opting for foods with low cholesterol that are related to health risks. Consumption of phytosterol-rich foods helps reduce cholesterol absorption, thereby reducing the risk of heart diseases. In addition, rapid advancement of science and technology, aging population, increasing healthcare costs, and rising awareness for well-being through the consumption of balanced diet are the major factors boosting the demand for foods that are rich in phytosterols and carotenoids.
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The beta-sitosterol product segment is expected to contribute substantial revenue to this market. The increasing application acope of beta-sitosterol in medical field for the prevention of cerical and colon cancer, allergies, asthma, and tuberculosis is expected to augment product demand.
However, the availability of eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA) ingredients are expected to emerge as potential substitutes and hinder the growth of the phytosterols market. This is because these ingredients offer similar benefits of regulating brain functioning, reducing carcinogenic risks, and maintaining heart rate that are offered by phytosterols. EPA and DHA ingredients are mostly used in pharmaceuticals, infant formula, animal feed, and supplements.
Global Phytosterols Market: Regional Overview
The global phytosterols market can be analyzed with respect to the regional segments of North America, Europe, Asia Pacific, Latin America, and Rest of the World. Amongst these, Europe stood as the leading regional market in the recent past. Regulatory approvals from the European Union, rising aging population, and increasing prevalence of cardiovascular diseases are the major factors boosting the growth of the Europe phytosterols market. Germany accounts for the largest contribution to the Europe phytosterols market.
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In North America, the U.S. is a major market for phytosterols due to the hectic lifestyle, which has led to the increased demand for processed foods that provide adequate nutrition. In the U.S., phytosterols have received GRAS (Generally Recognized As Safe) status, which is followed by approvals from FDA and European Union Scientific Committee on Food (SFC).
Major Companies Mentioned in Report
Key players in the global phytosterols market include ADM, BASF, Cargill, and others. Some other prominent players in this market include DuPont, PrimaPharm, DRT, Arboris, FrenchChem, and Lipofoods.
The presence of some companies across the value chain gives them an edge in terms of procurement of raw materials for the manufacture of products of varying grades. Companies in this market have also entered into alliances with vendors, agents, and resellers for expanding their geographical presence and for supplying product to end users.