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 (2017 - 2022) 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 (2017 - 2022), 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 (2017 - 2022) 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.
1.1 Research Methodology
1.2 Definition of the Market
2. Key findings of the study
3. Market Overview
3.2 Market Dynamics
126.96.36.199 Increasing prevalence of heart diseases
188.8.131.52 Supportive regulatory environment
184.108.40.206 Increasing End-Use Applications
220.127.116.11 Low consumer awareness
18.104.22.168 Side Effects of Phytosterols
22.214.171.124 Increased Health Consciousness
126.96.36.199 Technical innovations
3.2.4 Porter Five Forces Analysis
188.8.131.52 Bargaining Power of Suppliers
184.108.40.206 Bargaining Power of Buyers
220.127.116.11 Threat of New Entrants
18.104.22.168 Threat of Substitute Products and Services
22.214.171.124 Degree of Competition
4. Market Segmentation
4.1 By Application
4.1.1 Food Ingredients
4.2 By Product
4.2.4 others(avenasterol, ergosterol, brassicasterol, lupeol, and cycloartenol)
4.3 By Geography
4.3.1 North America
126.96.36.199 United States
5. Competitive Landscape
5.1 Mergers & Acquisitions
5.2 Joint Ventures
5.3 New Product Launches
5.4 Most active companies in the past five years
5.5 Market Share Analysis
6. Company Profiles
6.1 Raisio Plc
6.3 Bunge Limited
6.4 Archer Daniels Midland (ADM)
6.8 Pharmachem Laboratories
6.9 Forbes Medi-Tech Inc.
6.10 Gustav Parmentier
6.11 Enzymotec Ltd.