According to a new report published by Allied Market Research, titled, Phytosterols Market by Market type and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022, the global phytosterols market has generated $490 million in 2015, growing at a CAGR of 9.62% during the forecast period to reach $935 million by 2022. In 2015, Beta-sitosterols type occupied three-fifths share in terms of revenue.
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Increase in coronary diseases such as heart disease (Atherosclerosis and heart attack), stroke, type 2 diabetes, high blood pressure, obesity, and peripheral vascular diseases, governmental approvals, and advancements in technologies have fueled the growth of phytosterols. In addition, the rise in awareness of health benefits associated with phytosterols has propelled its demand among consumers. Furthermore, anti-aging and anti-cancerous properties in phytosterols have increased its applications in the cosmetics and pharmaceutical industries. Moreover, regulating bodies such as FDA and various committees have approved the use of phytosterols in food items such as sausages, bakery products, beverages, and others. Phytosterols blended with food products can reduce various health problem like heart risks, coronary heart diseases, increased cholesterol levels, and obesity and the market is expected to find major acceptance in the coming years.
In 2015, beta-sitosterols accounted for a major share, which facilitated the phytosterols market to grow with demand owing to its large pool applications in the pharmaceutical sector followed by campesterols with extensive applications in food and beverages. Furthermore, the health benefits associated with phytosterols have stirred the market with demand in blending food products with phytosterols. The technological advancements such as vitro-culture and biosynthesis of plants and roots is anticipated to drive the market with potential growth opportunities.
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Key Findings of the Phytosterols Market
- In the application segment, pharmaceuticals occupied one-third share in 2015.
- The phytosterol market in Asia-Pacific is anticipated to grow with a CAGR of 10.1% during the forecast period.
- In North America, the phytosterols market in the pharmaceuticals segment is expected to grow with a CAGR of 9.7% from 2016-2022.
- The campesterol type occupied more than one-fourth share in 2015.
- In LAMEA, the phytosterols market in -sitosterols segment is likely to achieve a CAGR of 9.1% during the forecast period.
In 2015, Europe was the dominating market in phytosterols, occupying more than two-fifths share followed by North America, whereas the phytosterols market in Asia-Pacific is anticipated to grow with a CAGR of 9.9% from 2016-2022.
Top market players in this sector include Archer Daniels Midlands, Cargill Incorporated, Pharmchem Laboratories Inc., BASF SE, E.I. DuPont De Nemours, Raisio plc, Arboris LLC, Unilever plc, Hyphyto Inc., and Gustav Parmenteir GmbH.