Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Phytosterols Market (By Product: Beta-sitosterol, Campesterol, Stigmasterol, Others; By Application: Food Ingredients, Pharmaceuticals, Cosmetics) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 – 2026”.
LOS ANGELES, April 09, 2019 (GLOBE NEWSWIRE) — The phytosterols market to grow at a noteworthy CAGR of around 9.6% during the period from 2018 to 2025. Some of the major factors behind these projections include increase in the prevalence of the cardiovascular diseases across the globe, changing lifestyle of the people, rising number of people suffering from obesity. Research study estimates the global phytosterols market to grow at a significant rate and reach the market size of over 1,129.6 USD Million by 2026.
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North America to Dominate the Global Phytosterols Market
The report focuses on the regional markets including North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to dominate the global phytosterols market during the forecast period 2018-2026, owing to the favorable government policies regarding use of phytosterols, huge patient population suffering from cardiovascular diseases, and high investments in the private and government research & development programs.
According to the World Health Organization (WHO), 9.3% of the total American population were suffering from diabetes in 2016. Diabetic patients are more prone to the cardiovascular diseases. Continuously increasing patient population suffering from diabetes, favorable reimbursement policies, and increased spending power of the people have significantly boosted the market growth in the North America.
Europe is anticipated to hold the optimum share of the global phytosterols market owing to the rising prevalence of cardiovascular diseases and presence of major global players in the region.
Additionally, LAMEA is expected to witness a steady growth due to lack of global players in the region, poor reimbursement policies and lack of knowledge regarding the cardiovascular diseases.
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Beta-Sitosterols to lead the global Phytosterols market
The global phytosterols market is segmented on the basis of products, application and geography.
Based on products, the market is segmented into beta-sitosterol, campesterol, stigmasterol, and others. Beta-sitosterol segment is expected to account for largest share amongst products owing to the increasing use of beta-sitosterol and increasing awareness regarding it. Increasing use of beta-sitosterol in the vast array of applications including cosmetics, pharmaceuticals, and food products is the other factor which is anticipated to boost the market growth.
On the basis of application, the phytosterols market is segmented into food ingredients, pharmaceuticals, and cosmetics. Pharmaceuticals segment is expected to account for largest share amongst application owing to the increase in prevalence of cardiovascular diseases across the globe and especially in North America, Europe, and India. Food ingredients segment is anticipated to account for significant share amongst application due to the rising awareness regarding the use of phytosterols for the management of excess amount of cholesterol in the body.
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On the basis of region, the global phytosterols market is segmented into North America, Europe, China, Japan, Southeast Asia, India, South America, and Middle East and Africa.
North America dominates the global phytosterols market owing to the rising prevalence of cardiovascular diseases (CVD) especially the coronary heart diseases (CHD). Cardiovascular diseases including sudden cardiac arrest, stroke, and coronary heart diseases accounts for major number of deaths in North America. According to the American Medical Association, cardiovascular diseases accounted for approximately 900,000 deaths in the U.S. in 2016. Increase in prevalence of CVD’s in the region and ongoing research & development regarding phytosterols are some of the factors which are driving the market in North America.
Some of the leading companies operating in the global phytosterols market include BASF, Unilever, DuPont, ADM, Cargill, Raisio, and Arborisand.
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