According
to a new report published by Transparency Market Research
Phytosterols (B-Sitosterol, Campesterol, Stigmasterol, Ergosterol)
Market for Food Ingredients, Pharmaceuticals, Cosmetics: Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 -
2019 the global demand for phytosterols was valued at USD 347.9
million in 2012 and is expected to reach USD 678 million in 2019,
growing at a CAGR of 10.0% from 2013 to 2019. In terms of volume, the
global demand for phytosterols was 14,075.0 tons in 2012.
The
growing consumption of phytosterol-fortified products in medical
applications on account of rising number of coronary heart diseases
has been one of the major factors for the growth of the phytosterols
market. In addition, high awareness regarding various health benefits
from the consumption of phytosterols has also contributed towards the
growth of the market. However, increasing substitution of
phytosterols by certain substances such as omega 3 fatty acids due to
provision of additional health benefits in comparison to phytosterols
is expected to slow down the growth of the market. Focus of
manufacturers towards technological innovation as well as market
expansion in emerging regions such as Asia Pacific is expected to
provide new opportunities for the growth of the market.
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β-sitosterol
accounted for the largest market share in the phytosterols market
acquiring over 65% of the market share in 2012, followed by
campesterol. β-sitosterols are the most widely consumed phytosterols
owing to the widespread availability of its source. They are found
across a large segment in plants. Moreover, the product is also
expected to witness the fastest growth rate over the forecast period.
Demand
for phytosterols was the largest from food ingredients, accounting
for over 50% of total market volumes in 2012 largely due to the large
consumption of supplements in North America and Europe and the high
level of awareness of phytosterols in these regions. However, future
market growth is expected to be from pharmaceuticals due to
technological innovation as well as increased application scope of
phytosterols in the pharmaceutical industry. The pharmaceutical
application segment is anticipated to grow at a CAGR of 9.3% between
2013 and 2019. Other applications of phytosterols such as cosmetics
accounted as niche segments on account of stiff competition from
substances providing similar application benefits.
Europe
accounted for the largest market share in the phytosterols market,
acquiring over 50% of the market share in 2012, followed by North
America and Asia Pacific. Moreover, Europe is anticipated to witness
the fastest growth rate on account of high consumption of formulation
and pharmaceuticals in the region. Other regions such as Asia Pacific
is expected to grow at a faster rate than North America due to the
high number of coronary heart disease cases (CHD) in the region as
well as rising awareness regarding the benefits of phytosterols in
prevention of CHD. In addition, the cosmetic industry in this region
is expected to have the highest growth rate and with increased usage
of phytosterols in cosmetics, Asia Pacific is anticipated to be one
of the major forces in the phytosterol market in the next few years.
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Phytosterols
Market: Product Segment Analysis
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β-sitosterol
-
Campesterol
-
Stigmasterol
-
Others (Ergosterol and Brassicasterol)
Phytosterols
Market: Application Analysis
-
Food Ingredients (Supplements and Beverages)
-
Pharmaceuticals
-
Cosmetics
Phytosterols
Market: Regional Analysis
-
North America
-
Europe
-
Asia Pacific
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