Phytosterols Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Phytosterols Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

The global phytosterols market is projected to experience robust growth during the forecast period. The demand for phytosterols worldwide is steadily increasing, driven by their expanding use in cosmetics, medicines, and food products. The personal care product segment is witnessing rising demand, attributed to factors such as growing disposable income, product innovation, and high market penetration. Simultaneously, the pharmaceutical industry is expanding due to the increasing prevalence of diseases and rising healthcare expenditure. Moreover, substantial investments in biotechnology R&D are expected to further drive phytosterol consumption in the pharmaceutical sector.

Phytosterols are commonly found in personal care products, such as anti-aging lotions, catering to the concerns of the aging population. The market for these products is driven by various factors, including the growing female population, the younger generation's preference for cosmetic products, increased usage of acne treatment products by adolescents, and growing awareness about the benefits of personal care and cosmetic products. These factors are anticipated to fuel the global utilization of phytosterols in the personal care and cosmetics industry.

The global population is witnessing rapid aging, leading to a larger proportion of elderly individuals. This demographic is more susceptible to health issues, particularly cardiovascular diseases. As the aging population continues to grow, there is an increasing demand for products that can help manage cholesterol levels and support heart health. Phytosterols, known for their cholesterol-lowering properties, are being sought after by this demographic, further driving the demand for phytosterol-enriched products. Cardiovascular diseases, such as heart attacks and strokes, remain significant global health concerns, with high levels of LDL cholesterol being a known risk factor for these conditions. The popularity of phytosterols among individuals seeking to lower their risk of cardiovascular diseases has surged due to their ability to reduce LDL cholesterol levels. As the incidence of such diseases rises, so does the demand for phytosterol-enriched products.

Increasing Application in Cosmetic Products

Phytosterols have garnered significant traction in the cosmetic industry owing to their potential skincare benefits. The flourishing cosmetic and skincare business is driving the growing demand for phytosterols. These compounds, known for their skin-replenishing and anti-inflammatory properties, are utilized in anti-aging creams and lotions in the cosmetic industry. Extensive research and development (R&D) efforts are underway to enhance therapeutic effects, leading to notable innovation and expansion in the market.

The plant-based nature and skin-replenishing advantages of phytosterols are poised to spur demand in the coming years. For example, in March 2019, KahlWax launched 6427 Megasoft Complex, a novel skincare cosmetics product. This multifunctional offering combines phytosterol-rich oils, natural waxes, and emollients. As the beauty industry increasingly emphasizes natural and sustainable ingredients, the use of phytosterols is expected to grow. Skincare brands actively seek innovative ways to incorporate plant-based compounds into their products, with phytosterols presenting a promising opportunity. Ongoing research and advancements in extraction techniques are likely to improve the availability and efficacy of phytosterols in cosmetics, thereby fostering continued utilization and exploration in cosmetic formulations.

Phytosterol-infused foods and beverages are witnessing continuous demand, driven by the rising awareness of their potential health benefits. Phytosterols are added to various food products such as milk, sausages, baked goods, yogurts, spreads, and margarine to enhance their nutritional value. Additionally, the use of herbal and mineral extracts as food additives is on the rise. Phytosterols are also integral to dark chocolate formulations, which are widely enjoyed by the public.

According to a Forbes article published in September 2022, the demand for Ready-To-Drink (RTD) beverages is growing, thereby boosting the requirement for liquid phytosterols. With the increasing demand, production, and consumption of functional food and beverage products in aqueous forms like juices, gels, and emulsions such as sauces, the demand for liquid phytosterols is expected to rise, creating opportunities for innovation and solutions in the relatively less commercialized segment of the research domain.

The aging population's increasing desire for improved health and reduced susceptibility to diseases is contributing to the rapid growth of the global healthcare market. Phytosterols, renowned for their effectiveness in reducing cholesterol absorption, have become indispensable in the pharmaceutical industry due to their high efficiency and efficacy. Technological advancements in the manufacturing sector and continuous research and development efforts are being employed to meet the demand for phytosterol supplements. Consequently, the extraction and utilization of phytosterols in pharmaceuticals, particularly nutritional supplements, have become more accessible. These supplements offer a means to effectively manage human diseases and health conditions. As the population continues to age, the market for phytosterol supplements is projected to expand, providing substantial opportunities for pharmaceutical companies to meet the growing demand and develop new products in this field.

The increasing prevalence of cardiovascular disease further underpins the significance of phytosterols in promoting better health outcomes.

The increase in fatalities caused by cardiovascular diseases (CVD) is a key driver behind the expansion of the phytosterol market. Heart attacks, strokes, and other circulatory diseases are significant contributors to premature mortality on a global scale. Notably, atherothrombotic ischemic stroke and coronary heart disease are strongly linked to a high global mortality rate. Therefore, it is crucial to implement cost-effective measures to reduce cardiovascular events. Several studies emphasize the importance of lowering low-density lipoprotein cholesterol (LDL-C) to prevent atherosclerotic cardiovascular disease (CVD). Phytosterols (PS) ingestion, alongside lipid-lowering medications, has shown efficacy in reducing cholesterol absorption.

According to data from the Organisation for Economic Cooperation and Development (OECD), nearly 670,000 deaths (29% of all deaths) occur annually in Europe due to CVD. Similarly, in England alone, more than 7 million individuals live with CVD, accounting for over 25% of annual deaths, as reported by the Office of Health Improvement and Disparities.

The rising prevalence of cardiovascular disease (CVD) has led to an increased use of phytosterols in the pharmaceutical sector, as they provide preventive advantages against CVD. Regulatory agencies like the Food and Drug Administration (FDA) and the European Union require manufacturers to label their products with the quantity of phytosterols and specify their use for individuals with heart disease.

Furthermore, as healthcare costs continue to escalate, there is a growing emphasis on preventative healthcare options. Informed customers seek health information and are increasingly inclined to take responsibility for their own well-being, leading them to choose phytosterol dietary supplements after conducting thorough research.

To capitalize on the cholesterol-lowering properties of phytosterols, companies are offering products infused with plant sterols. For example, Raisio, a UK-based company, now includes plant sterols in yogurt drinks, bars, spreads, and soft chews. Additionally, the market for phytosterol food items is driven by the rising disposable income of consumers. Among European nations, the United Kingdom has the highest penetration rate of households using these products (12.1%), as indicated by a study on consumer purchasing patterns.

Hence, the consumption of food products containing phytosterols is expected to drive market expansion during the forecast period. Merger and acquisition activities are also likely to play a significant role in shaping the industry landscape.

Mergers & Acqusitions

• In June 2022, Vitae Naturals, a manufacturer specializing in plant sterol esters and non-GMO vitamin E derivatives for the skincare, food, and nutrition industries, was acquired by Kensing LLC, a leading manufacturer of plant sterols, natural vitamin E, and high-purity surfactants.
• In February 2022, AGtech startup Elicit Plant successfully raised a series funding of USD 17.26 million. They specialize in developing cutting-edge phytosterol-based solutions for enhancing crops' water resistance. The funding will be allocated towards enhancing the company's research and development efforts and expanding their presence internationally. Their phytosterol-based water stress solution enables farmers to adapt to the challenges posed by climate change.
• An agreement between Kensing and Azelis, effective from December 2021, grants Azelis exclusive distribution rights across Europe, the Middle East, and Africa. As per the agreement, Azelis will be the sole distributor of Kensing's vitamins and phytosterols derived from vegetable oil in the designated regions. Azelis will also be responsible for managing the supply chain, formulating the products, and providing technical support.
• In July 2019, Raisio Plc. invested USD 55 million in expanding their range of plant-based goods, adding more value to their healthy food offerings. This strategic investment has further strengthened their market position in the European Market.
• IIn February 2019, Chicago-based Archer Daniels Midland Company (ADM), a key player in the phytosterols market, announced the acquisition of Ziegler Group. This acquisition has allowed ADM to expand its market presence and product range in the field of nutrition.

Market Segmentation

The global phytosterols market is segmented by type, application, competitional landscape, and regional distribution. Based on type, the market is fragmented into beta-sitosterol, campesterol, and stigmasterol. Based on application, the market is segmented into food pharmaceuticals, cosmetics & feed, and others.

Market Players

Archer Daniels Midland, BASF SE, Cargill, Inc., Ashland Inc., Lipofoods SLU, Pharmachem Laboratories Inc., Gustav Parmentier GmbH, Raisio Plc., DuPont de Nemours, Inc, Unilever PLC are among the major market players operating in the Global Phytosterols Market.

Report Scope:

In this report, global phytosterols market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Global Phytosterols Market, By Type:
• Beta-Sitosterol
• Campesterol
• Stigmasterol
• Global Phytosterols Market, By Application:
• Food
• Pharmaceutical
• Cosmetics & Feed
• Others
• Global Phytosterols Market, By Region:
• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Kuwait
• Turkey
• Egypt

Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global phytosterols market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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