The phytosterols market is anticipated to reach US$ 0.8 billion in 2022 and expand at a CAGR of 9.1% over the forecast period (2022-2032). By 2032, the market will probably be valued at US$ 2.0 billion. In 2022, the global phytosterols market is projected to increase by 8.4% year over year (Y-o-Y).
The Phytosterol market is experiencing steady growth, driven by increasing consumer awareness of the health benefits of these plant-derived compounds. Phytosterols, also known as plant sterols, are natural components found in fruits, vegetables, and grains. They have been scientifically proven to lower cholesterol levels, making them popular in functional foods, dietary supplements, and pharmaceuticals.
Numerous research studies in the field of phytosterols have revolutionized the industry. Surging demand for dietary supplements supporting cardiovascular health is expected to boost the market. High per capita expenditure on pharmaceuticals and healthcare is another crucial factor that would propel growth. Spurred by the aforementioned factors, the global phytosterols market is projected to grow at a CAGR of 9.1% in the forecast period of 2022 to 2032.
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Growing awareness regarding the health benefits associated with phytosterols has fostered the rise in demand for phytosterol based products globally. Also, the diversity in the application of phytosterols at various end sectors has driven the market forward over the years, and this will continue during the forecast period. The global phytosterol market is anticipated to grow tremendously years to come.
Phytosterols Market Driven by Growing Consumers’ Demand for Healthy Products
There are many health benefits associated with the consumption of phytosterol products. Phytosterols can act as an antioxidant, giving it the power tohelp in the prevention of cancer development; it helps in the prevention of breast, ovarian, and stomach cancers. Phytosterols help in the prevention of skin aging so that the skin glows as often. Individuals suffering from cardiovascular disease are usually administered with food products or drugs containing phytosterols.
Furthermore, the nutritional content contained in phytosterols has surged consumers’ interest in its consumption. Phytosterol is rich in vitamin D, whose deficiency diseases include osteomalacia and rickets. These health benefits are supporting the growth of the phytosterol market globally.
Increasing Application in Nutraceuticals
The potential health benefits of plant sterols has fostered the application of phytosterols in pharmaceutical and nutraceutical industries. The growing demand for nutraceuticals among consumers is a strong force driving the phytosterol market globally. Phytosterols are also used as dietary supplement.
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Phytosterols Market: Region-wise Analysis
Europe is the largest market for phytosterols due to the rise in demand for non GMO (Genetically Modified Organisms). It’s now mandatory for manufacturers within the European Union to label their products with the content of phytosterol and it should only be consumed by individuals with heart related diseases. Europe is anticipated to grow at moderately over the forecast period. In addition, the rise in demand for bio-based ingredients in various industries like the cosmetic industry have fostered the growth of the market within the region. North America is the second largest market after Europe in terms of total revenue.
The Asia Pacific is the fastest growing region for the phytosterols market. It’s expected to witness a significant growth over the forecast period. Increasing consumer demand for healthy products coupled with rising disposable income will trigger the market within the region.With the lack of awareness in the Middle East and Africa, the phytosterols market growth is expected to decline over the forecast period.
Global Phytosterols Market: Competitive Landscape
- BASF SE
- Raisio Plc.
- Bunge Limited
- Archer Daniels Midland Company
- DuPont Nutrition & Health.
Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
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Global Phytosterols Market Segment Analysis
The global phytosterol market can be segmented on the following basis:
Application
- Food Industry
- Pharmaceutical Industry
- Cosmetics Industry
- Feed Industry
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