Increasing demand for herbs and minerals extracts to be reinforced as food additives in beverages and foods are anticipated to spur the market growth over the forecast period. Phytosterols are steroid compounds derived from plants and have similar characteristics as cholesterol such as structural behavior and functionality. Phytosterols compete with cholesterols to reduce their level and helps to restrict absorption in digestive system. They find applications in food additives in cold cuts, spicy sauces, milk sausages, yoghurts, spreads, bakery products and margarines.
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Government affirmation regarding phytosterols application as food additives to supplement the nutritional requirement in foods and beverages is expected to drive the global market growth over the next five years. Growing cardiovascular diseases ad heart attacks due to high cholesterol content is anticipated to shift consumers towards phytosterols content foods. This also expected to replace cholesterol market with phytosterol in the near future. However this is a challenge to shift prospect’s mind towards phytosterol usage owing to less awareness for the product. Other similar products are also projected to hinder the global market as substitutes to the product.
Major phytosterols applications include food ingredients, pharmaceutical and cosmetics industries. Food ingredient dominated the global application market in the recent past and is expected to witness the same trend over the next five years owing to growing consumption of nutritional foods and beverages worldwide. Rising purchasing power of consumers particularly in emerging countries is expected to create huge market scope over the foreseeable future. Pharmaceutical industry followed food ingredient industry and contributed to second major market. Cosmetic industry has niche application market as compared to other two.
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Phytosterols market is segmented on the basis of products into stigmesterol, campesterol, ergosterol, beta-sitosterol and brassicasterols. All these phytosterols are found in fruits, seeds, vegetables and nuts. Beta-sitosterol has vital range of applications in medical industry such as colon cancer prevention, shin problems and cervical cancer. Capesterol is collected from various plants for medical applications. Various levels of campesterols have different effects on different individuals. Even high phytosterol amount in the body is responsible for cardiovascular problems.
Stigmasterol is used to manufacture semisynthetic progesterone, is a hormone required by human body to rebuild body tissues regarding estrogen effects. It is also an intermediate androgens, estrogens and corticoids biosynthesis process. Ergosterol occurs in fungal grows upon the plants due to exposure to ultra violet which transforms it into vitamin D2 that helps in bones development. It majorly finds applications in food ingredients and medical industry. Brassicasterol occurs in terrestrial plants such as oilseed rape and algae (unicellular phytoplankton). Beta-sitosterol was the leading product segment in the market in the recent past followed by campesterol. Innovation regarding product development is anticipated to provide more applications over the next five years.
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Europe dominated the global market followed by North America in 2013. Government favorable support regarding phytosterol usage as food additives and in medical industry is projected to spur the market over the forecast period. Asia Pacific is expected to be the emerging market on account of less awareness towards the product. However, rising purchasing power of consumers and shift in general population lifestyle particularly in emerging economies such as Indonesia, India and China is expected to fuel the market growth over the next five years.
Global phytosterol market is concentrated in nature due to top four companies contributed for more than half of the market. The market is oligopolistic owing acquisitions and mergers of several companies by major participants. The key players in the market include Cognis-BASF, Archer Daniels Midland Company, Fobes Medi-Tech, Triple Crown, Raisio Life Sciences, Arbois, Teriaka Ltd, K-Patel Phyto Extracts and Fenchem Enterprises Ltd.
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