The Asia-Pacific countries, such as China, Indonesia, Singapore, and India are experiencing a substantial increase in cardiovascular disease rate due to rapidly changing lifestyle. The growing public health risk is resulting in the potential market for phytosterol industry. One of the strategies for lowering cholesterol and risk of heart diseases is to change the eating habits by replacing trans and saturated fat from monounsaturated and polyunsaturated fats, but this has not been sufficient to overcome the health issues. Therefore, the Asia-Pacific market is inclining towards phytosterols.
The Asia-Pacific phytosterols market is expected to witness a CAGR of 8.5% during the forecast period of 2018–2023.
Changing consumer preferences and more inclination toward western culture have led Asia-Pacific countries in bad health conditions. It was recorded that Asians and Pacific Islanders were at third highest risk for heart-related deaths at 22.5% in 2013. Thus, these countries are at a higher risk and therefore becoming a major market for the phytosterol industry.
Considering the Australian market, there has been significant growth in the consumption of phytosterols, based on the regulations from the Food Standards Australia and New Zealand (FSANZ). The need of phytosterols has increased over the years due to an increase in the number of deaths to 43,603, which is nearly 30% of the total in 2013. On the other hand, China, Japan, and India are also facing similar health difficulties due to aging population and change in lifestyle.
The Asia-Pacific phytosterols market is segmented based on the parameters of product type, application type, and geography. The product type differentiations are beta-sitosterol, campesterol, and stigmasterol. Other elements include avenasterol, ergosterol, brassicasterol, lupeol, and cycloartenol. Moreover, the beta-sitosterol accumulated the largest market share in 2016 of 65.48% and is expected to grow in the next five years.
The insoluble dietary fibers market in Asia-Pacific is an upcoming market as there are many developing countries and the growing disposable income, economy, and rising population adds to the food industry. The rising standard of living of the consumers and preference for healthy and nutritious food is also driving the insoluble dietary fibers market, which, in turn, adds to the dietary fiber market. The major players adopt several strategies like acquiring small-scale firms to expand their presence and investing more in R&D to increase their market share.
- January 2017 - Cargill and FDA jointly announced a newly validated method for measuring the level of plant sterols and stanols in food and dietary supplements.
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- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
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1.1 Research Methodology
1.2 Definition of the Market
2. Key Findings of the Study
3. Market Overview
3.2 Market Dynamics
18.104.22.168 Increasing Prevalence of Heart Disease
22.214.171.124 Supportive Regulatory Environment
126.96.36.199 Increasing End-use Applications
188.8.131.52 Low Consumer Awareness
184.108.40.206 Side Effects of Phytosterols
220.127.116.11 Increased Health Consciousness
18.104.22.168 Technical Innovations
3.2.4 Porters Five Forces Analysis
22.214.171.124 Bargaining Power of Suppliers
126.96.36.199 Bargaining Power of Buyers
188.8.131.52 Threat of New Entrants
184.108.40.206 Threat of Substitute Products and Services
220.127.116.11 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
18.104.22.168 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Most Adopted Strategies
5.2 Most Active Companies
5.3 Market Share Analysis
6. Company Profiles
6.2 Archer Daniels Midland (ADM)
6.4 Bunge Limited
6.8 Enzymotec Ltd
6.9 Forbes Medi-Tech Inc.
6.10 Gustav Parmentier
6.11 Pharmachem Laboratories
6.12 Raisio PLC