May 06, 2020
According to the research report titled ‘Global Phytosterols Market by Type (Beta-sitosterol, Campesterol, and Stigmasterol), Application (Food, Pharmaceuticals, Cosmetics, and Feed) & by Region - Global Trends & Forecast to 2019-2026’, available with Market Study Report LLC, global phytosterols market garnered USD 612.6 million in 2018 and is expected to record a y-o-y growth rate of 8.5% during 2019-2026.
Notably, phytosterol is similar to the structure of cholesterol and is found in plants. It enriches the food as well as dietary supplements and helps in reducing the cholesterol levels in blood.
Consumer awareness pertaining to benefits of phytosterols and growing demand for functional food are further fueling the market expansion. The product can be found in all types of plant-based products such as oils, pulses and dried fruits. It is extensively used as a food preservative in spreads, margarines, spicy sausages, bakery products, cold cuts, sausages, milk and yogurt among others. Rising prevalence of heart diseases has favored the use of phytosterols in various consumable products, which in turn is impelling the market size. However, rising concerns regarding the side-effects associated with phytosterols in consort with nascent marketing strategies may hinder the market growth.
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As per type, phytosterols market is divided into stigmasterol, campesterol and beta-sitosterol. Based on application spectrum, the market is split into feed, cosmetics, pharmaceuticals and food.
Regionally, phytosterols market in Europe is presumed to expand substantially during the estimated timespan. Growing elderly population, high occurrence of cardiovascular diseases and associated deaths, alongside increasing health awareness are swaying the business dynamics in Europe.
Raisio Plc., Pharmachem Laboratories Inc., Hyphyto Inc., Gustav Parmentier GmbH, Arboris LLC, E.I. Du Pont De Nemours & Co., Cargill Inc., Bunge Ltd., BASF SE and Archer Daniels Midland Co. are the major companies in global phytosterols market.