Global Phytosterols Market is Expected to Cross USD 887.8 million in 2018: Transparency Market Research
According to a new market report published by Transparency Market Research "Phytosterols Market (β-Sitosterol, Campesterol, Stigmasterol, Ergosterol) - Global Industry Analysis, Market Size, Share, Growth and Forecast, 2010 - 2018," the global market for phytosterols was estimated to be worth over USD 391.5 million in 2010 and is expected to cross USD 887.8 million by 2018, growing at a CAGR of over 9.5% from 2013 to 2018. Europe is the biggest market for phytosterols, accounting for approximately 51% of the global market in 2011, followed by North America. The favorable regulatory condition in the western world is propelling the growth of this market in the region.
Beta-sitosterol is the most widely consumed phytosterol, accounting for 65% of total phytosterols consumed. Campesterol emerged as the second biggest phytosterol consumed next to beta-sitosterol. Other phytosterols include stigmasterol and ergosterol. One of the key factors driving the growth of the Global Phytosterols Market is growing incidence of heart diseases which accounts for approximately 50% of the total deaths in industrialized countries. The regulatory approval for cholesterol reducing properties contained in phytosterols is also helping the overall market to grow.
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However, confusion in the consumer's mind arising due to difficulty in differentiating phytosterols and other heart related healthy food is acting as one of the major factor which is restraining the overall market. Lack of awareness about the benefits among young people is hampering the market.
Huge opportunities exist in the Asia Pacific market which is offering cheap phytosterols ingredients. This poses a constant threat to the Western markets. So the road ahead to maintain market share opportunities lies in forming partnerships and collaborations with Asian companies. Incorporation of phytosterols in new food products also holds the edge to the growth of the overall market in the near future.
Food ingredients including supplements and beverages emerged as the biggest application segment for phytosterols. Food ingredients accounted for approximately 51% of the market in 2011. Pharmaceuticals are the next biggest application segment for phytosterols, followed by cosmetics.
Some of the major players in the phytosterols market include Cognis-BASF, PhytoSource L.P, ADM, Raisio Life Sciences and Forbes Meditech among other companies.
This research is specially designed to estimate and analyze the demand and performance of phytosterols in a global scenario. The research provides in-depth analysis of phytosterols manufacturers, trend analysis by segments and demand by geography. The report covers all the major segments of the global phytosterols market and provides in-depth analysis, historical data and statistically refined forecast for the segments covered. The study presents comprehensive assessment of the stakeholder strategies winning imperatives for them by segmenting the global phytosterols market as below:
Phytosterols Market, by Product Types:
Phytosterols Market, by Applications:
- Food Ingredients (including supplements and beverages)
The report provides a cross-sectional analysis of all the above segments with respect to the following geographical markets:
- North America
- Rest of the World (RoW)
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