The global market for phytosterols is expected to
reach USD 989.8 million by 2020, according to a new study by Grand View
Research, Inc. Phytosterols are widely used as additives in food products such
as dairy, sausages, cold cuts, etc. One of the major drivers for the growth of
phytosterols market is the favorable regulatory scenario, promoting their use
in functional foods and nutraceuticals. In addition, proven ability of
phytosterols, to reduce cardiovascular disorders is also expected to have positive
impact on market demand. Increasing prevalence of coronary heart diseases is
further expected to augment the demand for phytosterols over the next six
years.
Food ingredients were the largest application
segment for phytosterols, accounting for close to 25,000 tons of global demand
in 2013. Increasing consumption of functional foods and beverages in North
America and Europe and rising awareness of phytosterols in these regions is
expected to play a major role in the development of the application. Pharmaceuticals
were the second largest application segment, with market demand exceeding
19,354.0 tons in 2013.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/phytosterols-market
Further
key findings from the study suggest:
- The global phytosterols demand was 49,299.6 tons in 2013 and is expected to reach 80,535.9 tons in 2020, growing at CAGR of 7.2% from 2014 to 2020.
- Europe was the largest regional market for phytosterols, with revenue estimated at USD 292.8 million in 2013. Favorable regulatory scenario in this region is expected to propel market growth. In addition, Europe is also expected to witness fastest growth, at an estimated CAGR of 8.8% from 2014 to 2020.
- North America and Asia Pacific phytosterol demand is expected to grow at an estimated CAGR of 6.6% and 6.3% from 2014 to 2020, respectively.
- In 2013, beta-sitosterol accounted for the largest market share of 65.48% and is expected to witness fastest demand growth, at an estimated CAGR of 7.4% from 2014 to 2020. Its use in a wide range of medical applications such as prevention from colon cancer, cervical cancer etc. is expected to boost its demand over the next six years.
- The global market for phytosterols is oligopolistic in nature and is dominated by three companies including ADM, Cognis-BASF and Raisio Life Sciences.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/nutraceuticals-functional-foods-and-dietary-supplements
For
the purpose of this study, Grand View Research has segmented the global
phytosterols market on the basis of application, product and region:
Phytosterols
Applications Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Pharmaceuticals
• Cosmetics
• Food Ingredient
Phytosterols Product
Outlook (Volume, Tons; Revenue, USD Million, 2012 - 2020)
• Beta-sitosterol
• Campesterol
• Stigmasterol
• Others
Phytosterols Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
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Grand
View Research, Inc.
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