Phytosterols Market size to exceed $1bn by 2024
UK, Germany, Italy, Poland and France across the Europe phytosterols market size forms a significant portion of the regional industry which may generate over USD 450 million revenue by 2024. Probiotics market has witnessed high acceptance level among consumers which may act as restraint for phytosterols industry growth in the region.
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Government affirmation for usage as additives to fulfill nutritional requirements of foods and beverages has backed industry growth. Increasing regulatory inclination in UK and Germany towards naturally derived ingredients should fuel product demand.
Beta-sitosterol market size may generate over 9% growth. It is used to manufacture medicines for heart disease treatment and reducing high cholesterol level. FDA also allowed manufactures to claim beta-sitosterol for coronary heart diseases reduction in product labelling.
Food ingredient applications may generate over USD 500 million business by 2024. Fortified ingredients with high nutritional content and calorie levels reduction in food & beverages due to rising consumer health awareness may drive industry growth.
FDA, Health Canada and EFSA approval of food fortification of phytosterols in various dietary supplements and food products should prove beneficial for industry growth. They are classified as GRAS in foods by FDA and are regulated under (EC) No 258/97 of the European Parliament and of the Council.
Key raw materials, vegetable oil & tall oil, are also used for host of applications such as lubricants, adhesives, rubbers and inks. This factor may create raw material supply deficit and put pressure on phytosterols market price trend.
Browse key industry insights spread across 110 pages with 188 market data tables & 21 figures& charts from the report, “Phytosterols Market Size By Product (Beta-Sitosterol, Campesterol, Stigmasterol), By Application (Pharmaceuticals, Food ingredients, Cosmetics), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Poland, China, India, Japan, Indonesia, Malaysia, Thailand, Australia, Brazil, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2024), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
- Pharmaceutical application in the U.S phytosterols market may witness over 9.0% CAGR. Rising incidences such as cancer and cardiovascular diseases on account of climate dynamics may fuel product demand. It finds application in improving immune systems and curing diseases such as arthritis, tuberculosis, psoriasis, allergies, asthma, hair loss and bronchitis.
- Cosmetic application, led by Japan and China phytosterols market size in Asia Pacific, generated business worth over USD 8 million in 2015. It is used for improving skin elasticity, decreasing skin roughness and providing UV protection.
- Stigmasterol market size should witness over 3.5% growth. It is mainly processed from oilseeds and medicinal herbs, and are used in progesterone and cortisone production. These derived products are used as intermediates in the biosynthesis of androgens, estrogens and corticoids in pharmaceutical industry.
- Brazil phytosterols market size should surpass USD 30 million by 2024 with estimated gains at over 8.5%.
- Campesterols are used in dietary supplements and medicinal purposes due to growing consumer’s health awareness.
- Global phytosterols market share is highly consolidated with few leading industry participants fulfilling over 45% of the total demand in 2015. Key industry participants include BASF Cognis, Raisio, ADM and DuPont.