Biosynthesis of plants and root culture is the new biotechnological alternative to increase the production of phytosterols.
The global phytosterols market size is expected to reach $935 million by 2022 from $490 million in 2015 at a CAGR of 9.62% from 2016 to 2022. The phytosterols market holds substantial scope for growth globally. Its contribution to the global market would increase significantly within the next six years. High cost and preference of substitutes are key limitations for purchasing phytosterols. Increase in incidence of coronary heart diseases has fueled the demand for phytosterols. However, poor solubility, poor bioavailability, and side effects such as constipation, diarrhea, bloating, and swelling are observed in pharmaceutical phytosterols, which are expected to drive the demand for improvement in the quality of drugs.. Increasing demand for herbal and mineral extracts to be reinforced as food additives in beverages and foods are anticipated to create numerous opportunities for the market in the coming years.
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Increase in coronary diseases such as heart disease (Atherosclerosis and heart attack), stroke, type 2 diabetes, high blood pressure, obesity, and peripheral vascular diseases, governmental approvals, and advancements in technologies have fueled the growth of phytosterols. In addition, the rise in awareness of health benefits associated with phytosterols has propelled its demand among consumers. Furthermore, anti-aging and anti-cancerous properties in phytosterols have increased its applications in the cosmetics and pharmaceutical industries. Moreover, regulating bodies such as FDA and various committees have approved the use of phytosterols in food items such as sausages, bakery products, beverages, and others. Phytosterols blended with food products can reduce various health problem like heart risks, coronary heart diseases, increased cholesterol levels, and obesity and the market is expected to find major acceptance in the coming years.
To withstand the competition, the key players in the global phytosterols market have adopted different key business strategies, such as acquisitions, product launch, agreements, and partnerships. Product launches strategy drives the market. The key market players profiled in this report are manufacturers and suppliers. Data pertaining the market players and their strategic moves are gathered through press releases of respective companies, various blogs available on the website, and primary calls made to the experts in the phytosterols market.
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In 2015, Europe was the dominating market in phytosterols, occupying more than two-fifths share followed by North America, whereas the phytosterols market in Asia-Pacific is anticipated to grow with a CAGR of 9.9% from 2016-2022.
The key players in global phytosterols industry include Archer Daniels Midlands, Cargill Incorporated, Pharmchem Laboratories Inc., BASF SE, E.I. DuPont De Nemours, Raisio plc, Arboris LLC, Unilever plc, Hyphyto Inc., and Gustav Parmenteir GmbH.
Other prominent phytosterols industry (not profiled in the report) are Connoils LLC, Vitae Caps S.A., Matrix Fine Pvt Ltd, Xi’an Healthful Biotechnology Co., Ltd, Vigon International, Phyto-Source LP, Degussa Food Ingredients GmbH, Enzymotec Ltd, Femchem Enterprises Ltd, and PrimaPharm B.V.