Phytosterols Industry

Phytosterols Market Analysis

The Phytosterols Market is expected to register a CAGR of 8.6% during the forecast period.

• The phytosterols market is experiencing growth due to the increasing demand for functional food and dietary supplements with the potential for plant phytosterols. The beta-sitosterol segment currently holds a significant share of the market. Phytosterols are plant compounds structurally similar to cholesterol, reducing cholesterol absorption in the small intestine. They are often recommended as part of a heart-healthy eating plan, which is expected to have a positive impact on the market.
• North America and Europe are major consumers of phytosterols globally, with applications mainly focused on nutraceuticals and dietary supplements. In the United States, the National Cholesterol Education Program recommends that people with high cholesterol consume two grams of phytosterols daily. The Food and Drug Administration (FDA) has also approved a health claim related to the role of phytosterols in reducing the risk of heart disease.
• The cosmetic industry is also experiencing a higher demand for phytosterols. They are commonly used in cosmetics due to their positive effects on maintaining skin health and youth. Creams and other cosmetic products containing phytosterols smooth and moisturize the skin, prevent the formation of wrinkles and help with collagen synthesis. The growing demand for phytosterols in the cosmetic industry is expected to fuel market growth.

Phytosterols Market Trends

Increasing Prevalence of Cardiovascular Disease

• One of the key factors driving the growth of the phytosterol market is the increasing number of deaths caused by cardiovascular diseases (CVD). CVD is a leading cause of premature death across the globe, including heart attacks, strokes, and other circulatory diseases.
• According to data from the Organization for Economic Cooperation and Development (OECD), CVD accounts for close to 670,000 deaths (29% of all deaths) annually in Europe. In England alone, 7 million people live with CVD, contributing to over a quarter of deaths each year, according to data from the Office of Health Improvement and Disparities.
• Due to the rising incidence of cardiovascular disease (CVD), there has been a surge in the use of phytosterols within the pharmaceutical industry, as they have been shown to offer protective benefits against CVD. Regulatory bodies such as the Food and Drug Administration (FDA) and European Union have mandated that manufacturers label their products with the amount of phytosterols contained and indicate that they are intended solely for use by consumers with heart disease.
• Additionally, as healthcare expenses continue to rise, there is a growing emphasis on preventive healthcare solutions. This has prompted consumers to take greater responsibility for their own health by seeking out health information and making informed decisions when purchasing phytosterol dietary supplements. As a result, the market for these products is experiencing significant growth.

Europe to Dominate the Market Growth

• Europe is poised to dominate the global phytosterol market, with a significant market share driven by the growing demand for plant-based food products. The region is also experiencing an upsurge in demand for plant-derived fortified food products, which is boosting the growth of the phytosterol market. According to the European Food Safety Authority (EFSA), consumption of 1.5 g-2.4 g of plant sterols per day helps to reduce blood cholesterol levels by 7%-10%.
• To capitalize on the cholesterol-lowering effect of phytosterols, manufacturers are introducing products infused with plant sterols. For instance, the UK-based company Raisio has incorporated plant sterols in yogurt drinks, bars, spreads, and soft chews. Moreover, the increasing disposable income of consumers is driving sales of phytosterol food products in the market. A study on consumer purchase behavior of food with added phytosterols in European countries published in Elsevier B.V. revealed that the United Kingdom has the largest penetration rate of households (12.1%) purchasing foods with added phytosterols.
• As a result, the increasing consumption of phytosterol food products is expected to propel market growth in the forecast period.

Phytosterols Industry Overview

The global phytosterol market is highly competitive, with numerous global and regional players vying for a significant share. ADM, BASF SE, DuPont, Merck Group, and Cargill Inc. are some of the leading players in the market. To remain competitive, these key players are adopting various strategic moves, such as expanding their presence or production facilities. This helps them gain a foothold in the market and a competitive edge. Additionally, these companies are increasing their investments in research and development (R&D) to develop products with enhanced functionalities that meet consumer needs, expand their presence, and maintain their position in the market.

Phytosterols Market Leaders

Phytosterols Market News

• June 2022: Kensing LLC, a manufacturer of plant sterols, natural vitamin E, and high-purity surfactants, announced the acquisition of Vitae Naturals, a manufacturer of plant sterol esters and non-GMO vitamin E derivatives which have their applications in skincare, food, and nutrition end-use industry.
• February 2022: Elicit Plant, an AGtech company specializing in crops' water resistance and developing innovative phytosterol-based solutions, raised a USD 17.26 million series. The funds will be used to advance international growth and R&D programs for its phytosterol-based solution that addresses water stress and allows farmers to respond to climate change challenges.