The phytosterols market is expected to reach USD 1.6 billion by 2028 from USD 1.0 billion by 2023, at a CAGR of 8.3% during the forecast period. This growth is attributed to the increasing demand for phytosterol products due to an increase in health awareness.
The demand for nutritious and healthy food and drinks is increasing as consumers become more aware of the impact of their diet on their health. This has resulted in a rise in functional foods, which are products that provide additional health benefits beyond basic nutrition. Phytosterols are commonly used as an ingredient in functional foods due to their cholesterol-lowering properties. They can be found in various food products such as spreads, dairy, and baked goods. As people become more health-conscious, the demand for functional foods containing phytosterols is likely to grow.
Although the use of phytosterols in functional foods is currently limited to developed regions, there is an opportunity for the phytosterol industry to expand its market to underdeveloped and emerging nations as awareness of the health benefits of phytosterols increases. However, there are challenges to be addressed such as low incomes and the high cost of functional foods. Nevertheless, by providing access to functional foods that can improve people’s diets and overall health, the phytosterol industry has the potential to positively impact the health and well-being of people in these regions.
North America is expected to boost market growth during the forecast period due to the increasing demand for phytosterols. One of the main factors is the growing awareness among consumers of the health benefits of phytosterols in fortified food products. As phytosterols are naturally present in plants, the popularity of plant-based diets has further increased the demand for them. The aging population in North America is contributing to the rising demand for phytosterols, as their ability to reduce cholesterol levels is beneficial for maintaining heart health. The increasing prevalence of diabetes is also a factor driving the demand for phytosterols, as studies have linked them to improved insulin sensitivity in people with type 2 diabetes.
The phytosterol market in North America is dominated by key players such as ADM (US), BASF SE (Germany), Cargill, Incorporated (US), International Flavors & Fragrances Inc. (US), Ashland (US), Matrix Life Science (India), AOM (Argentina), Lipofoods (Spain), Avanti Polar Lipids (US), DRT (France), Wilmar International Ltd (Singapore), VITAE NATURALS (Spain), TAMA BIOCHEMICALS CO., LTD (Japan), BOC Sciences (US), and Herbo Nutra (India). These key players are analyzed in this study, including their company profiles, recent developments, and key market strategies.
