Phytosterols are plant derived compounds which are also referred as stanols, and have a similar structure to that of cholesterol. This substance competitively help block the absorption of cholesterol in the digestive track, and therefore play a major contributing agent in lowering the total, LDL and non-HDL levels in blood. There are numerous food forms such as margarine, yogurt, salad dressing, which are fortified with phytosterols. Therefore, the significance of reducing blood cholesterol, coronary heart diseases and flexible government regulations increase the end-use consumption which furthermore suspects the growth of this market during the forecast period. It is expected that the phytosterols market will grow by 8.5% till 2020.
Global market value is projected to reach around $ 800 million by 2020 which will be substantial growth from 2014 market size of around $ 475 million. Europe and North America which occupied 38% of the market share in 2014 worldwide, are estimated to show growth in coming years as well and estimated market capturing would be nearly 50% by 2020, due to the health factors of the region.
Phytosterols are widely used as additives in food products such as dairy, sausages, cold cuts etc. The major growth enhancing parameters of phytosterols are favorable regulatory scenario, promoting their use in functional foods and nutraceutical. Increased cardiovascular diseases and rising aging population, especially in European countries are other driving force of the market growth. However the side effects and less awareness among masses hinders the growth cycle.
Phytosterols which are beneficial for cholesterol reduction in the blood, is widely present in plant based food and beverages. The massive increase of death rate in various regions due to coronary heart diseases and increased cardio vascular diseases has enhanced the phytosterols market over the years. Moreover, the beta- sitosterol accumulated the largest market share in 2013 of 65% and is expected to grow with a healthy rate in the next five years. The CAGR of 7.5% is estimated from 2015-2020 for beta-sitosterol due to its usage in wide range of medical applications such as colon cancer, cervical cancer etc.
Based on the variety of end user applications of phytosterols which includes food ingredients, pharmaceutical items and the cosmetic products are expected to enhance the demand for phytosterols globally. Regulating bodies approving the usage of phytosterols in food ingredients is another factor fuelling the demand for the global phytosterols market.
Moreover, considering the geographical derivation, European countries lead the market especially Germany in Europe has shown estimated market revenue at $ 290 million in 2013 and forecasted to do so in coming years from 2015-2020, with the CAGR of XX% by 2020. North America and Asia-Pacific phytosterol demand is also expected to grow at an estimated CAGR of XX% and XX% during 2015 to 2020, respectively. European countries have been the major consumers of phytosterols substances in past but Asia pacific and North America also likely to show significant potential in year 2015-2020 due to the key benefits of phytosterols in cancer treatments as well as blood cholesterol control.
The market players of phytosterols are diversified as small, medium and major with more players expected to enter the market in the long run. Therefore the industry dominant companies include BASF, Archer Daniels Midlands (ADM), Raisio Life Sciences and Bunge Limited. Acquisition was found to be the most preferred growth strategy in the phytosterols market. Other players such as DuPont, Cargill Inc., Gustav Parmentier GmbH also occupy chunk of the market share.
The increasing awareness and consciousness towards health and more research being done on the phytosterols beneficial aspects provides the scope for enriched future. Therefore awareness of phytosterols benefits needs to be raised in various countries, will lead to the increase in consumption exponentially.