The global phytosterols market is estimated to reach USD 989.8 million by 2020, growing at an expected CAGR of 7.2% from 2014 to 2020. Phytosterols are steroid compounds derived from plant and are comparable to cholesterol in the structural behavior and functionality. Phytosterols are used as an additive in a large food products variety including cold cuts, spicy sauces, spreads, margarine, milk sausages, bakery products, and yogurts. Phytosterols contest with cholesterols during absorption in the intestines of the digestive system to decrease cholesterol level and to control intake.
The global phytosterols market is projected to witness a high growth on account of the encouraging supervisory scenario, which encourages their application in nutraceuticals and functional foods. Adding to it, verified capability of phytosterols, to decrease cardiovascular disorders is also estimated to impact the global phytosterols market favorably.
Food ingredient segment accounted for the largest share of over 50% of the total revenue generated in 2013. Increased functional food & beverages consumption in developed countries across the globe is expected to benefit the market.
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In 2013, beta-sitosterol held the largest market share of over 65% of the global phytosterols market. The beta-sitosterols is also projected to experience the maximum growth rate, at a projected CAGR of 7.4% from 2014 to 2020. It finds application in a large pool of medical applications which include prevention from cervical cancer, skin problems, and colon cancer. This wide range of usage is likely to drive the complete market over the next six years.
Europe phytosterols market accounted for over 25% of the global revenue generated in 2013. The regional market is also anticipated to grow at a CAGR of 8.8% over the forecast period. The encouraging supervisory scenario in the region is projected to be the factor driving the overall market. Increasing shift in the lifestyle of the population and rising levels of disposable income is also expected to propel the growth of the market. North America and Asia-Pacific phytosterol markets are projected to witness significant growth over the next six years.
The global phytosterols market shows oligopolistic nature. The three top businesses functioning in the market include Cognis-BASF, Raisio Life Sciences, and ADM. The other major companies of the global phytosterols market include Cognis-BASF, Fobes Medi-Tech, Cargill Inc., Pharmaconsult Oy Ltd, Arbois, Fenchem Enterprises Ltd, Lipofoods. Other companies venturing into the market include Phyto-Source LP, Archer Daniels Midland Company, Raisio Life Sciences, K-Patel Phyto Extracts, Triple Crown, PrimaPharm B.V., Degussa Food Ingredients GmbH, and Enzymotec Ltd.
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