Phytosterols Market's Consumption to Hit 40 Kilotons/Year by 2024: Global Market Insights, Inc.
SELBYVILLE, Del., Sept. 12, 2019 /PRNewswire/ -- The world phytosterols market is set to achieve more than a 9% CAGR up to 2024, according to a new report published by Global Market Insights, Inc., owing to changing consumer perceptions towards cholesterol management and natural food additives. The study delivers substantial information about the product, applications, and regional trends of this industry.
Escalating demand for functional food, along with rising consumer awareness towards a nutritionally enriched diet, will drive the phytosterols market size over the coming years. A rise in the global consumption of food has encouraged the increased usage of phytosterols across the food and beverage segment. The substance is used as an additive in several food products, such as milk, sauces, bakery products, yogurts, spread and margarine, offering lucrative growth avenues for phytosterols suppliers.
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Changing lifestyles and increasing purchasing power of consumers have resulted in the rising demand for frozen food and packaged products. Growing consumption of frozen and processed food globally has resulted in a higher risk for cardiovascular disease across all age groups. According to WHO, in 2013, more than 30% of deaths were caused as a result of CVD. Increasing prevalence of chronic diseases and severe health conditions among a rapidly increasing population will drive phytosterols market trends.
Phytosterols have gained immense popularity over the last few years and find significant applications across the pharmaceuticals, cosmetics, and food ingredients sectors. The substance has been approved as safe for inclusion in pharmaceutical products and is awarded the GRAS status in food applications by the U.S. Food and Drug Administration.
Rapid population growth in the Asia-Pacific region, combined with the surging consumption of food supplements among health-conscious consumers, is expected to impact the growth of China and India's phytosterols market share.
Growing demand for dietary supplements among athletes and fitness enthusiasts will promote the product's adoption across the region. It has been observed globally that regular intake of dietary supplements has helped in the treatment of health conditions, which will open new growth opportunities from pharmaceutical applications.
According to Food Science and Technology Journal, adding phytosterols into chocolates allows the functionality of the product to be maintained, even at the time of storage. Stigmasterol and campesterol are two of the major phytosterols products, and their demand is propelled by the increasing application in medicines used for cardiovascular disease treatment, as well as in progesterone and cortisone production.
Campesterol is expected to witness significant proceeds as it is extensively used in dietary supplements and for medicinal purposes. The substance is found to be useful in lowering the LDL cholesterol levels when incorporated as part of a regular diet.
Browse key industry insights spread across 170 pages, with 196 market data tables and 36 figures and charts, from the report on "Phytosterols Market" in detail, along with the table of contents:
Campesterol market share is projected to record gains of over 9% by 2024.
Growing consumer demand for anti-aging creams, combined with the anti-inflammatory properties of phytosterols will further boost the phytosterols' industry outlook. Several companies are enhancing their production capabilities by extensive usage of phytosterols in various creams and cosmetic products, as it provides several benefits, including improved skin elasticity, UV protection, reduced skin roughness.
China phytosterols market size from cosmetic applications is anticipated to witness a steady growth by 2024.
Amplified consumer spending on health-related fitness products as well as cosmetics is expected to fuel phytosterols market forecast over the coming years. Key market players like Lipofoods, Dupont, Cargill, Arboris, BASF Cognis, DRT and Fenchem, among others, have constantly been involved in the development and distribution of suitable health and wellness products.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Phytosterols Market Forecasts to 2024
The phytosterols industry is expected to cross USD 1.1 billion by 2024, on account of rising consumer inclination towards healthy lifestyles and nutrition rich diets.
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SOURCE Global Market Insights, Inc.
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