Plant Sterol Supplements Market Dynamics, Forecast, Analysis and Supply Demand 2016-2026
Rising inclination of consumers towards the healthy life style, doctor’s recommendation to consume at least 2 grams of plant sterols per day, increasing consumption of heart health supplements are some the key drivers which is expected to support the market growth over the forecast period. Consumption of plant sterols has been clinically proven to reduce cholesterol. In fact, a ‘Consensus Statement’ supporting this from the European Atherosclerosis Society (EAS) was published in its journal, Atherosclerosis. In it, the EAS found that “two grams of plant sterols or plant stanols per day in functional foods can help manage cholesterol for those with moderate heart disease risk and who are taking statin drugs.”
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Plant sterol supplements is segmented on the basis of distribution channel which includes pharmacies/drugstores, health & beauty stores, hypermarket/supermarket, internet and direct selling. Among all these segments pharmacies/drugstore is expected to contribute major share in terms of value over the forecast period. Easy availability of plant sterol supplements by function such as plant sterol supplements for immune health, heart health and others is expected to support the segment growth in the near future. Moreover, sales through internet is expected to show substantial growth over the forecast period. Increasing consumer inclination towards convenience lifestyle is expected to support the segment growth over the forecast period.
Increasing cardiovascular diseases among the people coupled with doctors recommendation for the consumption supplements containing plant sterols is expected to support the plant sterol supplements market growth over the forecast period. Moreover, continuous research and development and launch of the new products across the globe is expected to further fuel the market growth in the near future. In addition plant sterols are natural compound, thus increasing demand of products containing natural ingredient is also expected to support the market demand during the forecast period. However, increasing government regulations especially in European countries may affect the market growth by 2026.
Geographically North America is expected to account for the major market share in terms of value during the forecast period. It has been found that from 2007 to 2012 heart friendly foods & beverages have grown more than 20% in U.S. Increasingly product launch focusing heart health using plant sterol as an ingredient is expected to fuel market growth in the country. In European countries, the plant sterol supplements is expected to account for substantial growth over the forecast period. Increasing government regulation may affect the market growth in the region. For instance, in 2014, European Union enforced a law according to which the product comprises plant sterol must contain the indication that it is designed only for the people with cholesterol concern.
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Thus, according the new rule of European Commission the product should contain a warning stating that “the product is not intended for people who do not need to control their blood cholesterol level”. This will avoid unnecessary consumption by non-targeted groups. In Asia Pacific region the market is expected to account for favorable growth over the forecast period. Countries such as India, China and Singapore are expected to be the major contributor in terms of value during the forecast period.The key international players operating in plant sterol supplements market are WN Pharmaceuticals Ltd, Unilever (ProActiv), Healthspan Limited, Bluebonnet Nutrition Corporation, Feel Well Be Well, Moducare, Nutracraft, Vitabiotics Ltd among others.
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