Campaigns to Curb High Prevalence of Obesity and Heart Diseases to Bolster Demand for Phytosterols, says TMR
Archer Daniels Midlands Co., Raisio plc, and BASF SE constituted the
largest share in the global phytosterols
market in 2014. As per Transparency Market Research (TMR),
product innovation and differentiation are key strategies adopted by
the leading market players to gain a stronghold in the market. These
companies have remained ahead of the pack by consistently introducing
several phytosterols used as food ingredients.
Besides product innovations, many companies are also focusing on
mergers and acquisitions as well to expand their business portfolio
and geographical presence. These companies are also looking to
explore the untapped opportunities across developing regions to
emerge dominant in the global phytosterols market.
Spike in
Phytosterols Demand Expected as Prevalence of Heart Diseases
Increases Globally
“The rising prevalence of coronary heart diseases around the world
is a key factor bolstering phytosterols sales,” observed a TMR
analyst. The prevalence of cardiovascular ailments is notably more
common in developed countries across North America and Europe.
Incidentally these nations also exhibit a high prevalence of obesity,
a prime factor leading to heart diseases. “Despite being
structurally similar to cholesterols, phytosterols act as blockades,
averting absorption of cholesterol into the blood stream,” added
the TMR analyst.
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A high concentration of phytosterols is found in beans, nuts, and
vegetable oils. Owing to the several health benefits they offer, TMR
expects demand for phytosterols to rise considerably in the near
future. Of the several health benefits offered by phytosterols, their
cholesterol lowering properties have been fundamental in boosting
their sales opportunities. Furthermore, studies have evidenced that
phytosterols also help in fighting chronic ailments such as cancer
and prevents skin damage from exposure to the sun. With regulating
bodies such as the European Food Safety Authority approving the usage
of phytosterols, their demand is expected to considerably increase
through the report’s forecast period from 2015 to 2021.
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Lack of Awareness
Limits Phytosterols Market’s Growth in Developing Countries
Despite witnessing favorable opportunities, the growth of the
phytosterols market is restricted to an extent due to the lack of
awareness in developing regions. Developed regions such as Europe and
North America presently exhibits the most lucrative growth
opportunities for the market. The inadequate knowledge about the
benefits of phytosterols, particularly among consumers in India and
China, limits the growth of the market in the countries, which
otherwise could prove highly attractive.
The availability of products with similar properties also inhibits
the market’s trajectory to an extent. For instance, the rising
demand for omega 3 fatty acids will negatively impact phytosterols
sales.
Technological Advancements in Extraction Process to Boost
Phytosterols Sales
Phytosterols are derived from vegetable and tall oils. Since these
sources are abundantly available in nature, phytosterols are
considered highly fit for commercial extraction. The technological
advancements in extraction process will thus fuel opportunities for
the market in the forthcoming years. The growing demand for
phytosterols from Asia Pacific is expected in the near future. This
will in turn create newer avenues for the market to explore. Such
factors are expected to boost the market during the forecast period
despite the aforementioned limitations.
According to TMR, phytosterols exhibit diverse applications across
various industries. Of these, the food ingredients industry accounted
for over 50.4% of the demand witnessed in the global phytosterols
market in 2014. Regionally, the market is expected to witness robust
growth in developed regions. Europe dominated the global phytosterols
market and is expected to reach US$388.8 mn by the end of 2021.
By revenue, the global phytosterols market stood at US$473.8 mn in
2014. Rising at a positive CAGR of 10%, the market is expected to
reach US$926.7 mn by the end of 2021.
This review is based on findings published by TMR in a report, titled
“Phytosterols Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2021.”
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