Phytosterols Market: Global Industry Analysis and Forecast (2023-2029)

Phytosterols Market was valued at US$ 950.9 Mn. in 2022. Global Phytosterols Market size is expected to grow at a CAGR of 8.8 % through the forecast period.
Phytosterols Market Overview:
Sterols are naturally occurring chemicals that are found mostly in plant cell membranes (vascular plant). Plant sources of sterols include grains, nuts, vegetable oils, and tall oils, among others. The main sources of sterols are vegetable oils such as sunflower oil, soybean oil, and corn oil. Plants produce a variety of sterols, including Beta-Sitosterol. Sterols are amphipathic lipids generated from acetyl-coenzyme and are a subset of steroids. Some of the primary reasons projected to drive market expansion for sterols during the forecast period include changes in consumer dietary preferences and an increase in the incidence of cardiovascular disorders. Because of their structural similarities to cholesterol, sterols limit, cholesterol absorption and have several health advantages. During the projected period, the market growth is expected to be hampered by the restricted availability of sterol-based products in emerging economies and changing raw material costs.To know about the Research Methodology :- Request Free Sample Report
Phytosterols Market Covid-19 Insights:
The COVID-19 pandemic had an influence on a variety of businesses, but one of the few that was particularly hard struck was the sterols market. During Covid-19, the market growth for sterols was hampered by delays in production activities and the closure of many end-use sectors such as personal care, food, and refreshments in both developed and developing countries. The sterols business, on the other hand, has issues with the supply chain, a shortage of workers, and a scarcity of raw materials, among other things. During the covid-19 epidemic, governments in several nations granted food and pharmaceutical industries special license. In comparison to other markets, the need for sterols has been influenced on a minor scale.
Phytosterols Market Dynamics:
Market Drivers:-

Consumer demand for nutritious and healthful foods is increasing at a fast rate. Nutrients are added to healthy foods to assist increase the nutritional content and promote the health of customers. Vitamins, prebiotics, minerals, amino acids, and antioxidants are some of the most important elements in nutritious food. The demand for sterols is being driven by the growing health-conscious population in both emerging and developed economies. Various causes, such as the rise in chronic illnesses and micronutrient deficiencies, the rise of the middle class in emerging nations, and new government fortification initiatives, are all contributing to market growth. The market is growing due to an increased desire for cholesterol-free foods to avoid chronic disorders such as cardiovascular disease, high blood pressure, high cholesterol, diabetes, and others. These factors are driving he demand for phytosterols market.

Market Challenges:-

Phytosterols, also known as plant sterols or stanol esters, are naturally occurring chemicals in plants that have a structure like human cholesterol. The products have a variety of advantages as well as some minor adverse effects include constipation, nausea, upset stomach, heartburn, gas, and faeces discoloration. Higher sterol levels are linked to an increased risk of negative effects; thus, these products aren't recommended for persons who have phytosterolemia, a rare hereditary disease. These are the challenges faced by phytosterols market.
Phytosterols Market Segment Analysis:
Based on Type, The Phytosterols Market is segmented into Beta-Sitosterol, Campesterol, and Stigmasterol.

This segment had around 45 % of the market share, and it is expected to increase at a substantial CAGR over the forecast period.

The Beta-Sitosterol category has a significant market share due to rising consumer awareness of health and nutrition, which drives up demand for Beta-Sitosterol. As a result, Beta-Sitosterol is one of the most important phytosterol segments. Campesterol, on the other hand, is the fastest-growing category in the market due to its low cholesterol qualities. It boosts demand for phytosterol-fortified foods, which boosts the Phytosterols Market's development.

Based on the Application, the Phytosterols Market is segmented into Fortified Foods, Pharmaceuticals, and Cosmetics.

The food category dominated the market with 31% share in 2022 and it is expected to rise considerably during the projected period. The expansion of the food segment is being aided by an increase in the number of food processing enterprises, as well as an increase in the consumption of processed foods. Dairy goods, sauces and dressings, drinks, bakery and confectionery, and other foods are included in the food section.

As a result, the Sterols market will be driven by the rise of the food sector. During the forecast period, the personal care industry is also predicted to increase significantly. The market for Sterols is also being driven by an increase in the use of personal care products.
Phytosterols Market Regional Insights:
The North-America region is expected to witness significant growth at a CAGR of 8.8% through the forecast period. Because of the increased need for phytosterols in the functional food segment, the dietary supplement market is growing at a fast rate. Rising health concerns have increased demand for dietary supplement items in recent years. The United States has a much higher per capita consumption of phytosterols, which is aided by the booming dietary supplement and pharmaceutical industries. In terms of product options and market penetration, the dietary supplement market in the United States is by far the most sophisticated.

Europe dominated the market with 40% share in 2022. The primary driving drivers for the growth of the phytosterols market in Europe over the next five years are regulatory approvals from the EU, increased prevalence of cardiovascular problems, and an aging population. Germany is Europe's most important market.

Phytosterols are expected to grow in popularity due to their numerous health benefits. Globally, the market is being driven by an increase in end-use applications and an increase in awareness of health and wellbeing.

The objective of the report is to present a comprehensive analysis of the global Phytosterols Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Phytosterols Market dynamic, structure by analyzing the market segments and projecting the Phytosterols Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Phytosterols Market make the report investor’s guide.
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Global Phytosterols Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 950.9 Mn.


Forecast Period 2023 to 2029 CAGR:
8.8%
Market Size in 2029:
US $ 1716.1 Mn.


 Segments Covered:
by Type
• Beta-Sitosterol
• Campesterol
• Stigmasterol


by Application
• Fortified Foods
• Pharmaceuticals
• Cosmetics



Phytosterols Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Phytosterols Market, Key Players are:
• Archer Daniels Midland
• Cargill Incorporated
• Merck Group
• Ashland Inc.
• K Patel Phyto Extractions Pvt Ltd.
• BASF SE.
• Arboris LLC.
• Hyphyto Inc.
• PrimaPharm B.V.
• Lipofoods SLU.
• Unilever plc
• Rasio plc

Frequently Asked Questions:

1] What segments are covered in the Global Phytosterols Market report?
Ans. The segments covered in the Phytosterols Market report are based on Product Type and Application.

2] Which region is expected to hold the highest share in the Global Phytosterols Market?
Ans. The North America region is expected to hold the highest share in the Phytosterols Market.

3] What is the market size of the Global Phytosterols Market by 2029?
Ans. The market size of the Phytosterols Market by 2029 is expected to reach US$ 1716.1 Mn.

4] What is the forecast period for the Global Phytosterols Market?
Ans. The forecast period for the Phytosterols Market is 2023-2029.

5] What was the market size of the Global Phytosterols Market in 2022?
Ans. The market size of the Phytosterols Market in 2022 was valued at US$ 950.9 Mn.