According
to a new market report published by Transparency Market Research
“Phytosterols Market by Types ((B-sitosterol, Campesterol,
Stigmasterol and Others (Ergosterol and Brassicasterol) by
Application (Food Ingredients, Pharmaceuticals, Cosmetics)) - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 -
2021,” The phytosterols
market, in terms of revenue was valued at USD 473.8 million in
2014, which is expected to reach USD 926.7 million by 2021, growing
at a CAGR of 10.0% from 2015 to 2021. However, in terms of volume,
the global phytosterols market was valued at 17.99 million tons in
2014 which is expected to increase to 32 million tons by 2021 growing
at a CAGR 8.6% over the forecast period.
Phytosterols
are steroid compounds possessing cholesterol like molecules that are
found in all plant foods. Consumption of phytosterols in a wide
variety of foods has been an imperative factor in reducing the
cholesterol level in the human body. Products such as B-sitosterol,
Stigmasterol, Campesterol find application in food ingredients,
pharmaceuticals and cosmetics.
The
global phytosterols market has been segmented on the basis of
geography into North America, Europe, Asia Pacific and Rest of the
World (RoW). Europe dominated the global phytosterols market
accounting for more than a quarter of the market. High production of
phytosterols in Europe is the major factor driving the demand for the
phytosterols market in Europe. Further, owing to the increasing
awareness for health and wellness among the consumers, they are
looking towards the consumption of phytosterol fortified food
products as well as cosmetic items and pharmaceutical products.
Europe is also the fastest growing market for phytosterols compared
to the other regions.
North
America held the second largest market share in the global
phtyosterols market. However, this market is expected to have a slow
growth rate owing to the presence of other substances such as Omega-3
in the supplement industry. U.S. is the major market for phytosterols
in North America followed by Mexico.
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The
demand for phytosterols in Asia Pacific is low compared to the other
regions owing to the lack of awareness about the benefits of
phytosterols among the consumers. Additionally, lack of support from
the government regarding the promotion of phytosterols is impeding
the growth of this market. However, this region has the potential to
be one of the major markets for phytosterols due to its rapid growth
rate.
Rest
of the world (RoW) includes Middle East, Latin America and Africa.
This region accounted for the lowest market share, but it is the
fastest growing market for phytosterols. The rapid growth rate is
attributed to the rising disposable income of the consumers and the
increasing awareness regarding health and wellness among the
consumers, and the urge for the adoption of a healthier lifestyle.
Archer
Daniels Midlands Co, BASF SE, Bunge Ltd, Cargill Inc, E.I. DuPont De
Nemours, Raisio plc are some of the major players operating in the
global phytosterols market.
The
report covers phytosterols market and provides estimates in terms of
revenue (USD million) and volume (million tons) from 2015 to 2021.
Market estimates on the basis of product type and application type
have also been provided for each region.
The
market has been segmented as follows:
Global
Phytosterols Market, by Product Type
- B-sitosterol
- Campesterol
- Stigmasterol
- Others
Global
Phytosterols Market, by Application Type
- Food Ingredients
- Pharmaceuticals
- Cosmetics
Global
Phytosterols Market, by Geography/Country
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia Pacific
- India
- China
- Japan
- Rest of Asia Pacific
- Rest of the World (RoW)
- Middle East
- Latin America
- Africa
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