Albany, NY, Feb. 22, 2016 (GLOBE NEWSWIRE) -- The phytosterols market, in terms of revenue was valued at USD 473.8 million in 2014, which is expected to reach USD 926.7 million by 2021, growing at a CAGR of 10.0% from 2015 to 2021. However, in terms of volume, the global phytosterols market was valued at 17.99 million tons in 2014 which is expected to increase to 32 million tons by 2021 growing at a CAGR 8.6% over the forecast period.
Phytosterols are steroid compounds possessing cholesterol like molecules that are found in all plant foods. Consumption of phytosterols in a wide variety of foods has been an imperative factor in reducing the cholesterol level in the human body. Products such as B-sitosterol, Stigmasterol, and Campesterol find application in food ingredients, pharmaceuticals and cosmetics.
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The global phytosterols market has been segmented on the basis of geography into North America, Europe, Asia Pacific and Rest of the World (RoW). Europe dominated the global phytosterols market accounting for more than a quarter of the market. High production of phytosterols in Europe is the major factor driving the demand for the phytosterols market in Europe. Further, owing to the increasing awareness for health and wellness among the consumers, they are looking towards the consumption of phytosterol fortified food products as well as cosmetic items and pharmaceutical products. Europe is also the fastest growing market for phytosterols compared to the other regions.
North America held the second largest market share in the global phtyosterols market. However, this market is expected to have a slow growth rate owing to the presence of other substances such as Omega-3 in the supplement industry. U.S. is the major market for phytosterols in North America followed by Mexico.
The demand for phytosterols in Asia Pacific is low compared to the other regions owing to the lack of awareness about the benefits of phytosterols among the consumers. Additionally, lack of support from the government regarding the promotion of phytosterols is impeding the growth of this market. However, this region has the potential to be one of the major markets for phytosterols due to its rapid growth rate.
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Rest of the world (RoW) includes Middle East, Latin America and Africa. This region accounted for the lowest market share, but it is the fastest growing market for phytosterols. The rapid growth rate is attributed to the rising disposable income of the consumers and the increasing awareness regarding health and wellness among the consumers, and the urge for the adoption of a healthier lifestyle.
Archer Daniels Midlands Co, BASF SE, Bunge Ltd, Cargill Inc, E.I. DuPont De Nemours, Raisio plc are some of the major players operating in the global phytosterols market.
The report covers phytosterols market and provides estimates in terms of revenue (USD million) and volume (million tons) from 2015 to 2021. Market estimates on the basis of product type and application type have also been provided for each region.
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The market has been segmented as follows:
Global Phytosterols Market, by Product Type
- B-sitosterol
- Campesterol
- Stigmasterol
- Others
Global Phytosterols Market, by Application Type
- Food Ingredients
- Pharmaceuticals
- Cosmetics
Global Phytosterols Market, by Geography/Country
North America
- The U.S.
- Canada
- Mexico
Europe
- Germany
- K.
- France
- Italy
- Rest of Europe
Asia Pacific
- India
- China
- Japan
- Rest of Asia Pacific
Rest of the World (RoW)
- Middle East
- Latin America
- Africa
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