Market Overview:

The global phytosterols market size is expected to grow at a CAGR of 8.7% during the forecast period, 2017-2023.

Growing demand for supplements and food products prepared from plant sources useful for preventing cardiovascular diseases, obesity, and other body weight-related disorders has uplifted the demand for phytosterols. Among all, the beta-sitosterol is being a majorly used ingredient in the preparation of food and supplements. Increasing prevalence of diseases, for instance, cardiac arrest, artery blockage, obesity, and many others has increased the application of phytosterols in various industries such as dietary supplements, pharmaceuticals, and functional food beverages.

Market Forecast:

Phytosterols help in reduction and management of body weight and prevent disorders like cardiovascular diseases, obesity, and unnecessary body fat deposition. Continuously increasing obesity and other body weight related issues across the globe have turned up an opportunity for supplements and functional food and beverage industry to include plant-derived ingredients in their products, which is driving the growth of the phytosterols market.

Increasing health awareness among the consumers is further adding fuel to the growth of the phytosterols market. Additionally, high preference towards functional food and beverages is increasing the demand for phytosterols. However, non-defined stringent laws in the use of phytosterols in certain food beverages may hinder the market growth.

Key manufacturers are emphasizing on new product development in order to enhance the customer base. Apart from that, the key players are promoting their products through advertisements in television and social media, which, in turn, is escalating the phytosterols demand.

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Competitive Analysis:

Some of the major companies in the global phytosterols market include Cargill Inc., BASF SE, Archer-Daniels-Midland Company, Bunge Ltd., Raisio Plc., E. I. du Pont de Nemours and Company, Pharmachem Laboratories, Inc., Arboris, LLC, Gustav Parmentier Handeslgesellschaft GmbH, and Danone.

Segmentation:

The phytosterols market is segmented based on type, application, and region.

Based on the type, the market is segmented into campesterol, beta-sitosterol, stigmasterol, and others. Of these, the beta-sitosterol segment dominated the global market for phytosterols owing to highest demand and usage in a wide-ranging products and industries of medicinal products coupled with supplements, which are used in treating colon and cervical cancer.

Based on the application, the market is segmented into pharmaceuticals, food products, cosmetics, supplements, and others. Of these, the food products segment dominated the overall market owing to surge in demand for phytosterols across several food preparations. Additionally, awareness toward the cardiac and health among consumer and its health benefits are driving growth of the global phytosterol market.

Regional Analysis:

Regionally, the phytosterols market is segmented into the Americas, Asia Pacific, Europe, and Middle East Africa. Of these, Europe is estimated to remain dominant in the global phytosterols market in the coming period owing to the higher adoption from the health-conscious consumers in the region. The North America region is following the trend in Europe; thus, the region is standing on the second leading position in terms of revenue. Additionally, rising prevalence of obesity and patient’s pool of people suffering from chronic diseases are estimated to increase inclination of consumer toward healthy eating habits, which is driving market growth phytosterols.

However, Asia Pacific is estimated to exhibit growth with fastest CAGR during the forecast period owing to demand for functional food and beverages in the region. This growth is attributable to the increasing demand for healthy eating habits from the emerging countries including India, China, and Japan. In addition to this, the largest potential in the region owing to largest population, untapped needs of nutrition, and increasing health consciousness among young generation are driving growth of the global phytosterols market. Also, the increasing disposable income coupled with

Industry News:

In 2019, LaStella, K-Beauty’s announced launch of its Celiff Microbalm. This product involved phytosterols for combating with dry skin and maintaining skin nutrition during winter. Widening applications of the phytosterols beyond the food industry is driving growth of the global phytosterols market. Thus, the key players are increasingly introducing newer products based on the phytosterols are driving growth of the global phytosterols market.