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.
Opportunities in the phytosterols market
Despite the restraints, there are some opportunities in the phytosterols market. One of the major opportunities is the development of new and innovative phytosterol-based products. For example, phytosterols are being used in new types of functional foods such as yogurts, cereals, and spreads. They are also being used in new types of dietary supplements such as capsules, powders, and liquids.
Another opportunity is the expansion into new markets. The phytosterols market is still in its early stages of development in some countries. There is a growing demand for phytosterol-based products in these countries.
Challenges in the phytosterols market
The phytosterols market also faces some challenges. One of the major challenges is the competition from other cholesterol-lowering agents. There are a number of other cholesterol-lowering agents available on the market, such as statins and bile acid sequestrants. These agents are more effective than phytosterols in lowering cholesterol levels.
Another challenge is the stringent regulatory requirements. The regulatory requirements for phytosterols vary from country to country. This can make it difficult for companies to market phytosterol-based products in different countries.
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.
