Phytosterols Market Shares And Strategies Of Key Players | Research By 2021

Phytosterols, or plant sterols, are found in cell membranes of plants and are structurally similar to cholesterol in human body. While cholesterols get absorbed in the blood and increase the level of cholesterol in human bodies, phytosterols are not absorbed by the body. In fact, phytosterols prevent cholesterol from being absorbed by the body, thus reducing the level of triglyceride in the human body.

The rising incidences of deaths due to cardiovascular diseases are one of the prime drivers of the phytosterols market. A large number of people living in developed regions such as Europe and North America suffer from coronary heart diseases. This is acting as a major factor propelling the phytosterols market as phytosterols block the absorption of cholesterol, which is one of the leading causes of coronary heart diseases. The global phytosterols market faces many challenges, one of them being the lack of awareness about the health benefits of phytosterols among the people living in China, India, and other developing countries. The lack of government support is also hampering the growth of the global phytosterols market. The availability of omega-3 fatty acids is affecting the global phytosterols market adversely.

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The global phytosterols market is segmented on the basis of product, application, and geography. On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Of these, Europe dominated the market in 2014, accounting for a share of 40% in the global phytosterols market. North America was the second-largest market for phytosterols in 2014, but the Rest of the World is expected to be the fastest growing market between 2015 and 2021.

On the basis of product, the market is segmented into stigmasterol, B-sitosterol, campesterol, and others. Of these, the B-sitosterol segment held the largest share in the global phytosterols market. Campesterol accounted for the second-largest share in the global market and is expected to continue to witness significant growth in the coming years. The growth of the campesterol segment is expected due to the anti-inflammatory properties of campesterol.

Use of Phytosterols as Food Ingredients to Increase Rapidly

Phytosterols exhibit diverse applications across industries such as pharmaceuticals, cosmetics, and food and beverages. In 2014, the use of phytosterols as food ingredients held the largest market share in terms of value. According to TMR, demand from food ingredients segment accounted for over 50.45% of the market in 2014. The rising use of phytosterols as food ingredients due to their cholesterol lower properties is expected to fuel demand from the segment during the forecast period. Manufacturers operating in the food and beverages industry are including phytosterols in many of their food products to cater to their consumers’ health requirements.

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However, during the forecast period demand from the pharmaceuticals segment is expected to rise at the highest rate. The increasing awareness among consumers about the benefits of phytosterols in reducing the risk of heart diseases is fuelling demand from the segment. Furthermore, the incidence of heart ailments is expected to increase in India and China, thereby escalating phytosterols demand from these countries. Besides this, the cosmetics industry is a niche segment in the global phytosterols market. However, the demand from this segment is also expected to rise in the forthcoming years. The rising disposable income of consumers will be the primary factor bolstering use of phytosterols in the cosmetics industry.

Europe and North America Emerge as Most Lucrative Markets for Phytosterols

Geographically, Europe accounted for 40.27% of the demand witnessed in the global phytosterols market in 2014. The increasing application of phytosterols across end-use industries such as pharmaceuticals, cosmetics, and food and beverages has been fuelling demand for phytosterols from the region. Besides this, the increasing incidence of coronary heart diseases is a key factor fuelling demand for phytosterols from Europe and North America, alike.

The high prevalence of obesity has emerged as a major cause of concern for policymakers in North America. Since phytosterols are cholesterol reducing agents, they are considered ideal for preventing increased cholesterol level in human body. Their demand is thus expected to increase substantially across these developed regions through the forecast period.

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