Phytosterols Market is Expected to Rise to an Annual Revenue Figure of US$926.7 mn by 2021
The phytosterols market is expected to witness a significant growth during the forecast period especially in the developing countries such as India and China. Consumer awareness for health and wellness along with the adoption of a healthier lifestyle is fuelling the demand for phytosterols market in these regions.
Phytosterols are inclusive of plant sterols and plant stanols. Saturated sterols, which lack double bond in the sterol ring are called stanols. Phytosterols resemble cholesterols, but the variation is visible in the carbon side chain and the prevalence or absence of a carbon double bond. The main difference between phytosterols and cholesterol lies in the absorption levels in the blood stream. Cholesterols are absorbed in the blood, thereby increasing the cholesterol level in the human body which in turn increases the incidences of coronary heart diseases. Phytosterols, on the other hand are not absorbed by the body and are present at low levels. Due to their chemical resemblance, phytosterols block cholesterol from being absorbed by the blood, thereby reducing the triglyceride level in the human body.
Rising incidences of deaths due to cardiovascular diseases especially in the developed regions such as Europe and North America is propelling the demand for the phytosterols. Phytosterols are almost similar to cholesterols, but they act as blockages for cholesterol and prevent the absorption of the same in the blood stream. This reduces the triglyceride level in the human body, which in turn reduces the incidences of coronary heart diseases.
Availability of omega 3 fatty acids (EPA/DHA) is impeding the growth of the global phytosterols market as the market share of omega 3 fatty acids is more compared to phytosterols, due to which the manufacturers are shifting towards omega 3 fatty acid ingredients. Lack of support from the governing bodies in the developing regions such as Asia Pacific and Middle East regarding the health benefits offered by phytosterols is impeding the growth of the phytosterols market. This has led to the low awareness about the benefits of phytosterols among the consumers in the developing regions.
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B-sitosterol held the largest market share in the global phytosterols market on account of the widespread availability of its source. Campesterol accounted for the second largest market share in the global phytosterols market and it is expected to witness a significant growth owing to its anti-inflammatory properties. The others segment is inclusive ergosterol and brassicasterol and this segment accounted for the lowest market share in 2014.
Europe dominated the global phytosterols market with a market share of over 40% and is expected to retain its position in the future. North America is the second largest market for phytosterols. However, Rest of the World is the fastest growing market for phytosterols. The rapid growth is mainly attributed to the increasing awareness of the consumers about the benefits of phytosterols. The increasing consumption of phytosterol fortified products in medical application owing to the growing number of coronary heart diseases is also fuelling the demand for the phytosterols market in Rest of the World.
The global phytosterols market is marked by some tough competition from the major players operating in this market. Frequent mergers and acquisitions, partnerships, and joint ventures among others are some of the major strategies adopted by these players to sustain in the global phytosterols market. Archer Daniels Midlands Co, BASF SE, Bunge Ltd, Cargill Inc, Raisio plc, Arboris LLC, Pharmachem Laboratories are some of the major players operating in the global phytosterols market.