According to a new report published by Allied Market Research, titled, Phytosterols Market by Market type and Application: Global Opportunity Analysis and Industry Forecast, 2014-2022, the global phytosterols market has generated $490 million in 2015, growing at a CAGR of 9.62% during the forecast period to reach $935 million by 2022. In 2015, Beta-sitosterols type occupied three-fifths share in terms of revenue.
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Increase in coronary diseases such as heart disease (Atherosclerosis and heart attack), stroke, type 2 diabetes, high blood pressure, obesity, and peripheral vascular diseases, governmental approvals, and advancements in technologies have fueled the growth of phytosterols. In addition, the rise in awareness of health benefits associated with phytosterols has propelled its demand among consumers. Furthermore, anti-aging and anti-cancerous properties in phytosterols have increased its applications in the cosmetics and pharmaceutical industries. Moreover, regulating bodies such as FDA and various committees have approved the use of phytosterols in food items such as sausages, bakery products, beverages, and others. Phytosterols blended with food products can reduce various health problem like heart risks, coronary heart diseases, increased cholesterol levels, and obesity and the market is expected to find major acceptance in the coming years.
Key Findings of the Phytosterols Market
In the application segment, pharmaceuticals occupied one-third share in 2015.
The phytosterol market in Asia-Pacific is anticipated to grow with a CAGR of 10.1% during the forecast period.
In North America, the phytosterols market in the pharmaceuticals segment is expected to grow with a CAGR of 9.7% from 2016-2022.
The campesterol type occupied more than one-fourth share in 2015.
In LAMEA, the phytosterols market in -sitosterols segment is likely to achieve a CAGR of 9.1% during the forecast period.
PHYTOSTEROLS MARKET KEY SEGMENTS
By Type
Beta-sitosterols
Campesterols
Stigmasterols
Others
By Application
Food Ingredients
Pharmaceuticals
Cosmetics
Top Impacting Factors
1. Health benefits and high prevalence of diseases
Increasing prevalence of diseases is one of the driving factors of phytosterols market. The health benefits associated with phytosterols have escalated their demand among consumers. as they prevent absorption of cholesterol and associated diseases. In addition, phytosterols have other beneficial effects such as anti-cancerous and anti-oxidant property against various diseases, which are further expected to drive the market in the coming years.
2. Advancement in technology
Increase in the demand for herbs and minerals extracts to be reinforced as food additives in beverages and foods are anticipated to create numerous opportunities for the market in the coming years.
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