Global Phytosterols Market to Grow with a CAGR of 7.55% through 2028
Increasing Prevalence of
Heart Health Issues and Growing Adoption in the Nutraceutical Industry is expected
to drive the Global Phytosterols Market growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Global Phytosterols Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Phytosterols Market stood
at USD 901.06 Million in 2022 and is anticipated to grow with a CAGR of 7.55% in
the forecast period, 2024-2028. The increasing prevalence of disorders, such as
hypercholesterolemia and cancer, is one of the key drivers of market growth.
Consumers are increasingly demanding food products and dietary supplements that
are enriched with phytosterols, due to their potential health benefits.
Products like milk, sausages, baked goods, yogurts, spreads, and margarine are
being fortified with this compound to enhance their nutritional content.
Additionally, the utilization of herbal and mineral extracts as food additives
is also contributing to the growing demand for phytosterols. Phytosterols are a
crucial ingredient in dark chocolate formulations, which are highly popular
confectionery items among the masses. The thriving cosmetic and skincare
industry also plays a significant role in driving market growth, as
phytosterols are utilized in anti-aging creams and lotions for their
skin-replenishing and anti-inflammatory properties. Moreover, various product
innovations and extensive research and development (R&D) aimed at enhancing
the therapeutic benefits of phytosterols are projected to propel the market in
the coming years.
The demand for nutritious and
healthful foods is experiencing rapid growth as consumers prioritize their
well-being. To enhance nutritional content and promote customer health, healthy
foods are fortified with essential elements such as vitamins, prebiotics,
minerals, amino acids, and antioxidants. The increasing health-conscious
population in both emerging and developed economies is driving the demand for
sterols. Market growth is further fueled by factors like the surge in chronic
illnesses and micronutrient deficiencies, the rise of the middle class in
emerging nations, and government fortification initiatives. The desire for
cholesterol-free foods to prevent chronic disorders like cardiovascular
disease, high blood pressure, high cholesterol, and diabetes is propelling the
market's expansion. These factors collectively contribute to the growing demand
for the phytosterols market.
The increasing demand for
dietary supplements to promote cardiovascular health is a significant factor
expected to drive the demand for phytosterols in the near future. Phytosterols
are considered a crucial functional food supplement. The growth of the global
phytosterols market is also propelled by the rising per capita expenditure on
healthcare by millennials and the growing focus of consumers on deriving
nutritional and health benefits from consuming beta-sitosterol. Moreover,
research activities focused on the development of stigmasterol for preventing
the incidence of colon cancer and breast cancer are anticipated to create
growth opportunities for the global phytosterols market during the forecast
period.
Rising concerns about the
environmental impact of chemical supplements have led to the use of sustainable
and bio-based supplements in various industries. The manufacturing industry is
adopting plant-based/bio-based raw materials to reduce carbon dioxide
emissions. Additionally, phytosterols find applications in cosmetics and
personal care products, such as anti-aging creams. The increasing demand for
products containing plant-based supplements is another factor expected to drive
the growth of the global phytosterols market in the forecast period.
Browse over 26 market
data Figures spread through 91 Pages and an in-depth TOC on "Global
Phytosterols Market”
The Global Phytosterols Market is
segmented into type, application, regional distribution, and company.
The
global consumption of beta-sitosterol is on the rise due to its numerous
associated benefits. These benefits encompass the reduction of blood
cholesterol levels, skin conditioning and protection, and enhancement of
cognitive functions. Beta-sitosterol is widely favored in dietary supplements
over other phytosterol types. Furthermore, the consumption of beta-sitosterol
supplements is expected to increase further as they are utilized in the
treatment of hypercholesterolemia, benign prostatic hyperplasia, and hair loss.
Additionally, vegetarian consumers are embracing these products due to the
phytosterol complex in the supplement being free from yeast, dairy, egg,
gluten, and wheat.
Based
on region, the phytosterols market has been categorized into North America,
Europe, Asia Pacific, Latin America, and the Middle East & Africa, based on
region. Among these regions, the Europe market holds the largest revenue share
in the global phytosterols market, and this trend is expected to continue
throughout the forecast period. The growth of the European market can be
attributed to the presence of major players in the cosmetics, pharmaceutical,
and food industries in Germany and the U.K. Additionally, the increasing focus
on sustainable development by countries in the region is driving the
utilization of bio-based supplements in industries such as cosmetics, thereby
fostering the growth of the phytosterols market in Europe. Following closely
behind is the Asia Pacific region, where rising investments in the manufacturing
sector and research and development of phytosterols are propelling the market's
growth.
Major companies
operating in Global Phytosterols Market are:
- Archer Daniels Midland
- BASF SE
- Cargill, Inc.
- Ashland Inc.
- Lipofoods SLU
- Pharmachem Laboratories Inc.
- Gustav Parmentier GmbH
- Raisio Plc.
- DuPont de Nemours, Inc
- Unilever PLC
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“The increasing prevalence of diseases is a significant
driver of the phytosterols market. The demand for phytosterols has risen among
consumers due to their associated health benefits, including the prevention of
cholesterol absorption and related diseases. Moreover, phytosterols exhibit
additional advantageous effects such as anti-cancer and antioxidant properties
against various diseases, which are expected to further propel market growth in
the upcoming years.
The market is anticipated to witness numerous opportunities
with the reinforcement of herbs and mineral extracts as food additives in
beverages and foods. However, the high cost and preference for substitutes pose
key limitations to the purchase of phytosterols. The demand for phytosterols
has been fueled by the increasing incidence of coronary heart diseases. Nonetheless,
pharmaceutical phytosterols exhibit poor solubility, low bioavailability, and
side effects such as constipation, diarrhea, bloating, and swelling, which
highlight the need for improved drug quality. Additionally, the increasing
demand for herbal and mineral extracts as food additives in beverages and foods
is expected to create various opportunities for the market in the coming years.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Global
Phytosterols Market By Type (Beta-Sitosterol,
Campesterol, and Stigmasterol), By Application (Food, Pharmaceutical, Cosmetics
& Feed and Others), By Company, By Region, Forecast & Opportunities,
2028, By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future
growth potential of Global Phytosterols Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Phytosterols Market.
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