Global Phytosterols Market - 2021-2028

Market Overview:

Phytosterols are plant fatty tissues that are found in their cell membranes. The highest amount of phytosterols is found in brussels sprouts, lettuce, blueberry, and vegetable oils. Phytosterols have a similar structure like cholesterol, but the uptake of the phytosterols is much less in the human body than cholesterol. As a result, it is increasingly being incorporated in the diet. The global phytosterol market is being driven by a rising trend among consumers to blend vitamins, herbal extracts, and minerals in fortified foods. The global phytosterols market is likely to reach USD xx million in 2028, from its recorded value of USD xx million in 2020, growing with a CAGR of XX% during the forecast period. Around half of the global pesticide market is composed of phytosterols. Over 6,000 plant species with insecticidal properties have been identified. Phytosterols have been more commonly used as additives in sauces, margarine, yogurt, and other dairy products. Phytosterols have cardioprotective properties, and the rising prevalence of cardiovascular diseases has prompted their use in medication formulations to treat heart disease, resulting in increased market penetration

Market Dynamics: Health benefits associated with the consumption phytosterols added food products

Health benefits associated with the consumption of phytosterols added food products increase the growth of the global phytosterols market. The phytosterols are generally recognized as safe (GRAS) by the US Food and Drug Administration, and as safe for consumption in dairy products by the European Union Scientific Committee. The increasing integration of herbal extracts, vitamins, and minerals in various fortified foods is driving up demand for phytosterols as a food additive. The compatibility of the phytosterols with the other additives like tocopherols has led to its incorporation in bakery and functional foods. The consumers' changing outlook towards plant-based anti-aging products has added on to fueling the phytosterols market. According to the European Food Safety Authority (EFSA), a person's blood cholesterol level can be decreased by 7-10% if they consume 1.5 to 2.4 gm of plant sterols and stanols per day. Phytosterols have a wide range of therapeutic properties. Finland and the Netherlands have the most product types available, followed by Belgium, Germany, and the United Kingdom. To take advantage of phytosterol's cholesterol-lowering effect, the manufacturers are coming up with products infused with plant sterols. For instance, the UK-based company, Raisio, has inculcated plant sterols in yogurt drinks, bars, spreads, and soft chews.

Moreover, prevalence of cardiovascular disease is increasing the growth of the global phytosterols market. Cardiovascular diseases are among the leading causes of mortality and a major cause of morbidity among the population. In the United States, one person dies from cardiovascular disease every 36 seconds. Heart disease takes the lives of nearly 655,000 Americans per year, accounting for one out of every four deaths. This has increased the application of phytosterols in pharmaceutical industries as it helps to protect against cardiovascular diseases, reduce intestinal cholesterol absorption, control prostate enlargement, and help reduce blood sugar level and inflammation.

However, poor solubility, poor bioavailability, and side effects such as constipation, diarrhea, bloating, and swelling are observed in pharmaceutical phytosterols, which are expected to drive the demand for improvement in the quality of drugs.

Market Segmentation: Beta-Sitosterol is expected to hold highest market share of XX% during the forecast period.

In 2020, the Beta-Sitosterol segment dominated the market, accounting for XX% of global sales. Beta-Sitosterol is a sterol derived from plant woods and vegetable oils that is widely used in dairy products, beverages, and dietary supplements. In addition, a large number of obese people take 1.5 to 5 grams of beta-sitosterol per day to help them lose weight. The market for beta-sitosterol has been positively impacted by consumers' increasing interest in health and dietary intake. As a result, beta-sitosterol is predicted to be one of the most important segments of the phytosterol market. On the other hand, Campesterol is expected to grow with a CAGR of XX% during the forecast period, Campesterol is used as a food additive and is also marketed as a dietary supplement as it has cholesterol-lowering properties. Increasing demand for phytosterol-fortified nutritional supplements and food products is projected to drive the product demand in the food ingredient segment over the forecast period.

Geographical Penetration: Europe accounted for highest market revenue share of XX% in the year 2020

The mature cosmetics, pharmaceutical and food industries in the United Kingdom and Germany are driving product demand growth in Europe. The market is boosted even more by the region's early embrace of the bio-based economy, which has facilitated the use of bio-based ingredients in end-use industries like cosmetics. European countries lead the market due to an increase in demand for non-GMO products. The European Union has made it obligatory for manufacturers to label their products with the amount of phytosterol in them and the fact that they are only to be used by people who have heart issues.

North America is expected to grow with a CAGR of XX% during the forecast period. Rising consumer health consciousness, as well as therapeutic benefits of phytosterols, will support the industry landscape. The US Food and Drug Administration (FDA) has released an interim final rule allowing health claims for plant sterols and sterol esters in the treatment of coronary heart disease. Phytosterol content in food products has also been approved by the Canadian Food Inspection Agency (CFIA) and Health Canada. These regulatory norms should increase incorporation of phytosterols in the fortified food products thereby stimulating the regional market trends.

Competitive Landscape:

The global phytosterol market is fiercely competitive, with a slew of global and regional players. The global phytosterol market is dominated by some of the key players such as ADM, BASF, DuPont, and Cargill among others. Leading companies are gaining popularity in the global market by increasing their use of tall and vegetable oils as extraction sources. For example, on June 11th, 2019, Raisio Group announced a USD 55 million investment in the growth of nutritious foods and plant-based added value products. The company has strengthened its market place in Europe as a result of this investment.

COVID-19 Impact: Global phytosterols market is expected to witness positive impact owing to the pandemic

Demand for phytosterols as a key functional ingredient in dietary supplements is expected to grow during the pandemic. Due to competition, phytosterols, which are plant compounds with a structure identical to cholesterol, reduce cholesterol absorption in the small intestine. These are often recommended as part of a heart-healthy eating plan, which is likely to have a positive effect on the industry. Several several research studies are recognizing phytosterols' ability, leaving plenty of room to rebalance the industry even in the face of persistent COVID-19 restrictions. However, the pandemic has had a detrimental effect on the phytosterols market in two ways: it has directly affected production and demand, as well as disrupted the supply chain and market.

Why Purchase the Report?

• Understand the current market scenario and viability of global phytosterols market over the forecast period.

• Visualize the composition of the global phytosterols market in terms of type and application to identify major players, growth potential, and market strategies

• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

• Excel data sheet with valuable data points of the global phytosterols market - Regional and Country level segmentation

• Product mapping in excel for the key products of all major market players

• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:

• Phytosterols Manufacturers
• Pharmaceutical Companies
• Cosmetics Manufacturers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals