Phytosterols Market Analysis by Trends, Size, Share, Growth Opportunities, and Emerging Technologies
The phytosterols market was USD 952.4 million in 2022, and it will touch USD 1,921.4 million, propelling at a CAGR of 9.2%, by 2030.
The growth of the industry is credited to the rapidly-changing lifestyles, growing consciousness, surging worries over animal cruelty, and increasing income. Furthermore, phytosterol supplements and products derived from plants are approved by various government agencies concerned with pharmaceuticals and foods all over the world.
The beta-sitosterol category, based on type, will generate a larger share of the industry, of approximately 60%, by the end of this decade. This is because of the mounting inclination of customers toward functional dietary supplements and foods, boosted by the increasing consciousness regarding the properties of plant-based beta-sitosterol.
Furthermore, the increasing recognition of the environmental impact related to traditional chemical ingredients has resulted in the extensive acceptance of sustainable and bio-based alternatives across various industries.
The fruits & vegetables category, based on source, accounted for the largest phytosterols market share. This is because of the extensive accessibility of various fruits and vegetables across different nations, particularly Indonesia, India, and Brazil.
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In 2022, Europe accounted for the largest share of the industry, with 40%. This is mainly because of the surging customer consciousness regarding the health advantages provided by phytosterol-fortified food products and the inclination of consumers to invest in premium personal care goods, such as cosmetics derived from sustainable and natural plant extracts.
APAC is expected to observe the fastest growth in the years to come. This is mainly because of the substantial processed foods and beverages consumption. Moreover, the surging health consciousness, increasing middle-class population, mounting prevalence of chronic illnesses, and growing food industry in the continent further boost the expansion of the regional industry.
It is because of the surging consciousness regarding the benefits of plant-based foods, along with the rapidly changing lifestyles, the phytosterols industry will continue to grow in the years to come.
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