Phytosterols Market size to exceed $1bn by 2024: Global Market Insights Inc. Phytosterols Market size generated over USD 500 million revenue in 2015 and expects gains at over 8.5%; according to a new research report by Global Market Insights, Inc. Growing trend towards food fortification with vitamins, minerals and herbal extracts has created more conducive environment for naturally derived ingredients incorporation in foods and beverages and stimulates phytosterols market growth. They are used as additives across a wide range of food products includes milk, cold cuts, bakery products, sauces, yoghurts, spreads and margarines. UK, Germany, Italy, Poland and France across the Europe phytosterols market size forms a significant portion of the regional industry which may generate over USD 450 million revenue by 2024. Probiotics market has witnessed high acceptance level among consumers which may act as restraint for phytosterols industry growth in the region.
Government affirmation for usage as additives to fulfil nutritional requirements of foods and beverages has backed industry growth. Increasing regulatory inclination in UK and Germany towards naturally derived ingredients should fuel product demand. Beta-sitosterol market size may generate over 9% growth. It is used to manufacture medicines for heart disease treatment and reducing high cholesterol level. FDA also allowed manufactures to claim beta-sitosterol for coronary heart diseases reduction in product labelling. Food ingredient applications may generate over USD 500 million business by 2024. Fortified ingredients with high nutritional content and calorie levels reduction in food & beverages due to rising consumer health awareness may drive industry growth. FDA, Health Canada and EFSA approval of food fortification of phytosterols in various dietary supplements and food products should prove beneficial for industry growth. They are classified as GRAS in foods by FDA and are regulated under (EC) No 258/97 of the European Parliament and of the Council. Key raw materials, vegetable oil & tall oil, are also used for host of applications such as lubricants, adhesives, rubbers and inks. This factor may create raw material supply deficit and put pressure on phytosterols market price trend. 1|Page