Market Overview
Market Research Future (MRFR) assessed the global phytosterols market 2020 through the analysis period til 2023. By 2023, the phytosterols market can rise at about 8.7% CAGR in the forecast period. The increase in demand for food products and health supplements, especially from plant sources, that aid in the management of cardiovascular diseases, and body weight-related malaises can boost expansion of the phytosterols market. The surge in sales of beta-sitosterol as a crucial ingredient in food and supplements that can manage cardiac arrest and artery blockage among others can favor expansion of the market through the review period. The rise in functional food & beverages, and pharmaceutical applications of phytosterols can support expansion of the market in the near future. The rise in health awareness among consumers can drive the phytosterols market in the near future. In addition, the increase in preference for phytosterols-fortified functional food and beverages can support expansion of the market in the near future. On the flip side, non-defined stringent laws associated with the use of phytosterols for food and beverages can hinder the surge of the phytosterols market in the near future.
Phytosterols help in reduction and management of body weight and prevent disorders like cardiovascular diseases, obesity, and unnecessary body fat deposition. Continuously increasing obesity and other body weight related issues across the globe have turned up an opportunity for supplements and functional food and beverage industry to include plant-derived ingredients in their products, which is driving the growth of the phytosterols market.
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Segment Analysis
The segment assessment for the global phytosterols market are done by application and type.
The type-based segments of the global phytosterols market are stigmasterol, beta-sitosterol, and campesterol among others. The beta-sitosterol segment can dominate the market. The campesterol segment can also earn considerable revenue in the near future.
The application-based segments of the phytosterols market are supplements, food products, pharmaceuticals, and cosmetics among others. The food products segment can earn significant share for the global as phytosterols are used in different food preparations.
Regional Analysis
North America phytosterols market can rise at considerable pace through the review period. Europe market can rise at high pace, following North America. Europe phytosterols market can rise due to high consumption of phytosterols as food preparations and supplements is observed to surge at high rate among growing obese populace and cardiovascular diseases patient pool. The increase in demand for phytosterols as functional food and beverages industry can also favor the market rise in the near future. In North America, the rise in consumer awareness about plant-derived effective nutrients and surge in sales of functional beverages can promote expansion of the regional market in the near future. In Asia Pacific, the phytosterols market can surge at high pace across China and India, thus supporting the market rise. The phytosterols market in APAC can rise at steady pace.
Key Players
Bunge Ltd. (U.S.), Cargill Inc. (U.S.), Pharmachem Laboratories, Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), I. du Pont de Nemours and Company (U.S.), BASF SE (Germany), Raisio Plc. (Finland), Arboris, LLC (U.S.), Gustav Parmentier Handeslgesellschaft GmbH (Germany), and Danone (France) are some reputed companies in the phytosterols market that are listed by MRFR. Key producers are laying emphasis on the introduction of new product development that is observed to expand customer base can favor expansion of the market in the years to come. Key players are observed to promote their products with advertisements across social media and television that can escalate the demand for phytosterols.
