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Email: [email protected] MarketResearch.com PHYTOSTEROLS MARKET

GLOBAL TRENDS & FORECAST TO 2020

TYPE (BETA-SITOSTEROL, CAMPESTEROL, AND STIGMASTEROL), BY APPLICATION (FOOD, PHARMACEUTICALS, COSMETICS, AND FEED) & BY REGION

[email protected] Report Code: FB 3431 PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

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1 © MarketsandMarkets PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

1 EXECUTIVE SUMMARY

The phytosterols market, in terms of value, is projected to reach $XX million by 2020, at a CAGR of XX% from 2015 to 2020. Factors such as increasing incidences of deaths due to cardiovascular diseases, numerous health benefits, increasing end-use applications, and promotions by various government regulatory bodies are the major drivers of the phytosterols market. Phytosterols are defined as plant stanols and sterols and are found in the fatty tissues of plants. Phytosterols have a chemical structure similar to cholesterol (except for the addition of one ethyl or methyl group); however, the absorption of phytosterols in humans is much lesser that that of cholesterol. Phytosterols are naturally found in all items of plant origin, mainly oils, but also in dried fruits and pulses. They are widely used as food additives in food and beverages, such as yogurt, milk, sausages, cold cuts, bakery products, spicy sausages, margarines, and spreads.

The market for phytosterols is projected to grow significantly for the next five years in almost all parts of the world, especially in European and North American countries. Besides the inability of humans and animals to synthesize phytosterols, the rise in aging population and the increased awareness level regarding health & wellness also act as factors contributing to the market growth. Phytosterols have been given the GRAS (Generally Recognized As Safe) status in the U.S., followed by the approval from the FDA and later by the EU Scientific Committee on Food (SFC).

FIGURE 1 PHYTOSTEROLS MARKET SNAPSHOT (2015 VS. 2020)

XX XX XX XX XX XX XX XX

MarketSize($Million) XX XX XX Beta-sitosterolXX CampesterolXX StigmasterolXX Others*XX 2015-e 302.3XX 87.8XX 43.7XX 40.6XX 2020-p 463.2XX 133.0XX 65.1XX 60.0XX

Note: e – Estimated; p – Projected Others* include avenasterol, ergosterol, brassicasterol, lupeol, and cycloartenol Market size has been taken up to one place of decimal Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

In this report, the phytosterols market, on the basis of type, is segmented into beta-sitosterol, campesterol, stigmasterol, and others (avenasterol, ergosterol, brassicasterol, lupeol, and cycloartenol). The beta- sitosterol segment accounted for the largest share in the global market in 2014 and is projected to follow the same trend for the next five years. The segment is projected to grow at a CAGR of XX% between 2015 and 2020 to reach $XXmillion by 2020. Campesterol and stigmasterol segments are projected to grow at CAGRs of XX% and XX%, respectively, between 2015 and 2020.

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FIGURE 2 PHYTOSTEROLS MARKET TREND, BY REGION, 2014

Best markets to invest for the next five years XX

XX XX XX

XX 2020) - XX XX XX

(2015 XX

XX CAGR% CAGR% XX

XX XX XX XX XX XX XX XX Rank (in terms of market size) XXNorth America XXEurope XXAsia-Pacific RoWXX XXLatin America

Bubble size indicates projected market size for 2020 Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

The European region is estimated to be the largest market that consumes phytosterols in 2015. This market, in terms of value, is projected to grow at the highest CAGR of XX% from 2015 to 2020. It is followed by the North American market, projected to grow at a CAGR of XX% from $XX million in 2015 to $XX million by 2020.

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FIGURE 3 EUROPEAN & NORTH AMERICAN COUNTRIES PROJECTED TO BE THE LARGEST MARKETS

EUROPE XX XX NORTH AMERICA

XX ASIA-PACIFIC XX XX XX

LATIN AMERICA XX XX REST OF THE WORLD XX Market Share % XX CAGR%

Note: Market share taken for 2014 and CAGR from 2015 to 2020 Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

The European region is estimated to be the largest and the fastest-growing market for phytosterols and it is projected that the market will reach a value of $XX million by 2020, at a CAGR of XX%. Regulatory approvals from the EU, increasing incidences of cardiovascular diseases, rise in aging population, and increasing awareness regarding health & wellness are the major driving factors for the growth of the phytosterols market in Europe for the next five years. Germany was the largest phytosterols market in Europe and accounted for ~XX% of the region’s market in 2014. The German phytosterols market is projected to grow at a CAGR of XX% during the period under consideration. Other major European phytosterols markets include France, Italy, and Spain accounting for around XX%, XX%, and XX%, respectively, in 2014.

The phytosterols market is a diversified and competitive one with a large number of players. The market is dominated by major players such as Raisio Plc. (Finland), BASF SE (Germany), and Bunge Limited (U.S.), which collectively account for a little more than half of the global phytosterols market with respect to the developments between 2010 and March 2015.

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2 PREMIUM INSIGHTS

This chapter highlights the important aspects of the phytosterols market and business space. This market is growing rapidly with new product launches & developments, expansions, agreements, and acquisitions. Increasing health benefits, increasing end-use applications, and an increase in the number of government promotions for increased consumption of phytosterols are the major factors driving its market, globally. The global market for phytosterols is segmented on the basis of type, application, and region. The market for phytosterols appears to have a significant and bright commercial potential in the future. The next set of illustrations will provide a brief about the significant dynamics, projections, and trends in the phytosterols market.

2.1 ATTRACTIVE OPPORTUNITIES IN PHYTOSTEROLS MARKET

FIGURE 4 ATTRACTIVE OPPORTUNITIES IN PHYTOSTEROLS MARKET

ATTRACTIVE MARKET OPPORTUNITY

• Global phytosterols market - $XX million in 2014 from $XX million in 2013 • Market growth is attributed to increasing incidences of cardiovascular diseases, various XX health benefits, increasing end-use applications, and increasing number of XX government promotions for the consumption of phytosterols • Emerging economies such as China, India, and Brazil offer several untapped opportunities

2015-e 2020-p

e – Estimated; p - Projected Source: Expert Interviews, Annual Reports, and MarketsandMarkets Analysis

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2.2 FOOD: LEADING SEGMENT, BY APPLICATION

FIGURE 5 FOOD SEGMENT: PROJECTED TO BE THE LARGEST SEGMENT

Market Size ($Million) CAGR% XX (2015-2020)

XX XX XX XX XX

XX XX XX XX XX XX XX 2015-e 2016-p 2020-p XXFood Ingredients XXPharmaceuticals XXCosmetics XXFeed

e – Estimated; p - Projected Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

The global phytosterols market is segmented on the basis of application into food, pharmaceuticals, cosmetics, and feed. The food segment accounted for the largest share in 2014, was valued at $XX million, and is projected to grow at a CAGR of XX% between 2015 and 2020. The segment dominates the market as phytosterols are used extensively in a wide range of food and beverages, including dairy and cold cuts. However, the consumption of phytosterols in pharmaceuticals is projected to be the fastest-growing and reach $XX million by 2020. This segment is projected to grow at a CAGR of XX% between 2015 and 2020.

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2.3 BETA-SITOSTEROL: LEADING SEGMENT, BY TYPE

FIGURE 6 BETA-SITOSTEROL: LARGEST MARKET FOR THE NEXT FIVE YEARS

XX 2015-e XX 2020-p XX CAGR% XX XX XX XX XX

XX XX XX MarketSize($Million) XX XX XX XX XX XX XX Beta-Sitosterol Campesterol Stigmasterol Others*

Note: Others* include avenasterol, ergosterol, cycloartenol, lupeol, and brassicasterol CAGR has been taken up to one place of decimal e – Estimated; p – Projected Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

There is high demand for phytosterols across the globe, especially for beta-sitosterol. Beta-sitosterol accounted for more than half of the total phytosterols market, followed by campesterol with shares of ~XX% and ~XX%, respectively, in 2014. The market is growing exponentially owing to the increase in demand for phytosterol-rich food and pharmaceuticals. Beta-sitosterol is also projected to be the fastest- growing market for the period under consideration.

7 © MarketsandMarkets PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

2.4 LIFE CYCLE ANALYSIS: ASIA-PACIFIC AND LATIN AMERICA ARE BEST MARKETS FOR INVESTMENTS The phytosterols market in this report is divided into five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and Rest of the World (RoW).

FIGURE 7 ASIA-PACIFIC REGION TO PROVIDE IMMENSE OPPORTUNITIES FOR PHYTOSTEROLS MARKET GROWTH

XX GROWTH(VOLUME) XX

TIME INTRODUCTION GROWTH MATURITY DECLINE

Source: Expert Interviews, Government Authorities, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

Europe commands the lion’s share of the total phytosterols market, followed by the North American and Asia-Pacific regions. Both the European and North American markets are in the middle of the growth phase. The European market is expected to grow at a faster pace compared to North America, based on the food habits and popularity of phytosterols products in the region. The Asia-Pacific phytosterols market is in the initial phase of the growth stage and has the immense potential to exploit the benefits of phytosterols during the forecast period. The growth of the market in the Asia-Pacific region can be attributed to increasing consumers’ health awareness, increasing per capita income, and changing lifestyles.

8 © MarketsandMarkets PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

3 MARKET OVERVIEW

3.1 INTRODUCTION Phytosterols (referred to as plant sterol and stanol esters) are a group of natural fatty substances found in all plant cell membranes. They resemble cholesterol in their structure and hence when consumed, compete with the cholesterol for absorption in the digestive systems. As a result, the absorption of cholesterol is blocked and the level of blood cholesterol is reduced.

According to National Institute of Health, there are over XX different phytosterols found in nature. Humans cannot synthesize phytosterols and hence their only source of phytosterols is via the food they consume. The safety of phytosterols and their esters have been affirmed by various government agencies such as FDA (the U.S. Food and Drug Administration) and EUSC (European Union Scientific Committee). Phytosterols can be found in varying concentrations in fat-soluble fractions of seed, root, stem, branches, leaves, and flowers; however, their concentration is the highest in edible oils, seeds, and nuts.

3.2 EVOLUTION The evolution of phytosterols was believed to have started in ancient Egypt. Pomegranates, which are considered a rich source of phytosterols, were a symbol of fertility to the Greeks. Pollen grains from date palm were used to promote fertility in women in ancient Egypt. Some other plants high in phytosterols such as cramp bark (also known as ladies mantle or papoose root) have a long history of treating female health complaints.

FIGURE 8 EVOLUTION OF THE PHYTOSTEROLS MARKET

Before 1930 1971 and later . Beta-sitosterol was examined in the form of a drug product to lower cholesterol in humans . Sugano and his colleagues demonstrated . Ellis and Gardner demonstrated the the hypocholesterolemic effects of unabsorbability of phytosterols sitostanol . Plant sterol was chemically described . Introduction of esterification of phytosterols . Schonheimer and his colleagues found out with long-chain polyunsaturated fatty acids that phytosterols were not absorbed by . Benecol was introduced in Finland and rabbits and rats later in the U.S.

. It was recognized that sterols lower the serum concentrations of cholesterol . D.W. Peterson found out that phytosterols could interfere with the absorption of cholesterol in chickens . O.J. Pollak showed that the addition of phytosterols to the diet can reduce cholesterol levels in humans . Cytellin, derived from tall oil phytosterols, was developed and marketed by Eli Lilly Company till 1982 1930-1970

Source: Related Associations/Institutes, Company Websites, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

The term “phytosterol” was first used in 1897 for sterols of plant origin. The non-absorbability of phytosterols was described by G.W. Ellis and J.A. Gardner in 1912. In the 1920s, Schonheimer and his colleagues discovered that phytosterols (sitosterol, stigmasterol, ergosterol, and brassicasterol) were not absorbed by rabbits or rats. Although plant sterols were chemically described in 1922, their biological role

9 © MarketsandMarkets PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

in human health was considered decades later. In 1952, D.W. Peterson at the University of California, Berkeley, provided the first evidence that phytosterols interfere with the absorption of cholesterol in chickens. He also found that addition of XX% soy sterol, when added to XX% cholesterol containing diet, can inhibit atherogenesis. In 1953, O.J. Pollak was the first to show that the addition of plant sterols in diet can reduce the cholesterol level in humans. He fed XX healthy men an average dose (XX g/day) of plant sterols for a period of XX weeks and observed that there was a reduction of XX% of plasma cholesterol levels. In 1957, Eli Lilly Company introduced “Cytellin,” the first plant sterol product, and marketed it till 1982. In the late 1970s, Sugano and his colleagues demonstrated the hypocholesterolemic effects of sitosterol. By the early 1980s, the hypocholesterolemic effects of sitostanol were also demonstrated. In the late 1980s, the esterification of phytosterols with long chain polyunsaturated fatty acids was discovered. In 1995, Benecol, a canola oil-based margarine, that is rich in sitosterol ester, was commercially introduced in Finland by the Raisio Plc. and later introduced in the U.S. in 1999. The first GRAS approval for phytosterols was obtained in 1999 and later in 2000 the first approval for the use of phytosterol esters as a novel food ingredient in yellow fat spreads was obtained.

3.3 MARKET SEGMENTATION

3.3.1 PHYTOSTEROLS MARKET, BY TYPE On the basis of type, the phytosterols market is segmented into beta-sitosterol, campesterol, stigmasterol, and others (including avenasterol, ergosterol, cycloartenol, lupeol, and brassicasterol). The market was dominated by the beta-sitosterol segment and this trend is projected to remain the same from 2015 to 2020.

FIGURE 9 PHYTOSTEROLS MARKET, BY TYPE

PHYTOSTEROLS MARKET, BY TYPE

Beta-Sitosterol Campesterol Stigmasterol Others*

• Market Size, • Market Size, • Market Size, • Market Size, 2014 = 2014 = 2014 = 2014 = $XX Million $XX Million $XXMillion $XX Million • CAGR = XX • CAGR = XX • CAGR = XX • CAGR = XX

Note: CAGR taken between 2015 and 2020 *Others include avenasterol, ergosterol, cycloartenol, lupeol, and brassicasterol ergosterol Source: Related Associations/Institutes, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

10 © MarketsandMarkets PHYTOSTEROLS MARKET - GLOBAL TRENDS & FORECAST TO 2020

4 PHYTOSTEROLS MARKET, BY TYPE

4.1 BETA-SITOSTEROL Beta-sitosterol is the most widely used phytosterol in the world, owing to its health attributes. Beta- sitosterol, a white, waxy powder, has a characteristic odor and is soluble in alcohol. Beta-sitosterols are similar in structure to cholesterols and compete with them for absorption in the human intestine. Hence, it blocks/lowers the absorption of cholesterol and thus lowers the blood cholesterol level in the body. It is also helpful in treating BPH (Benign Prostatic Hyperplasia). Avocados, cucurbita pepo (pumpkin seeds), cashew fruit, rice bran, wheat germ, corn oils, soybeans, and dandelion coffee are some of the major sources of beta-sitosterols. Key companies such as Raisio Plc. (Finland), BASF SE (Germany), and Bunge Limited (U.S.), which together account for more than half (XX%) of the global phytosterol market, offer beta-sitosterols through their product portfolio for human and animal consumption.

TABLE 1 BETA-SITOSTEROL MARKET SIZE, BY REGION, 2013-2020 ($MILLION)

CAGR% Region 2013 2014 2015-e 2020-p (2015-2020)

North America XX XX XX XX XX

Europe XX XX XX XX XX

Asia-Pacific XX XX XX XX XX

Latin America XX XX XX XX XX

RoW XX XX XX XX XX

Total XX XX XX XX XX

Source: Annual Reports, SEC Filings, Press Releases, Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis

The European region accounted for the largest market for beta-sitosterol in 2014 and is projected to follow the same trend for the next five years. Owing to the health benefits associated with the intake of beta- sitosterol, its market is projected to grow at a CAGR of XX% and reach $XX million by 2020. On the other hand, its market in North America is projected to grow at a CAGR of XX% for the period under consideration. This market is projected to reach $XX million by 2020 from $XX million in 2015. Consumers across Europe have become more aware of the importance of nutraceuticals and functional foods, which is driving the market for phytosterols such as beta-sitosterols. On the other hand, substantial R&D efforts have been devoted in the last couple of decades to develop phytosterol functional foods in these regions.

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5 PHYTOSTEROLS MARKET, BY APPLICATION

5.1 FOOD Phytosterols are almost similar to cholesterol in chemical structure and hence compete for absorption in the body. This helps in lowering down the cholesterol absorption, which leads to the reduction of blood cholesterol level in the body. According to the U.S. National Library of Medicines, phytosterols are also helpful in the prevention of cancer, diabetes, and obesity. Rich sources of phytosterols include whole grains, unrefined plant oils, nuts, seeds, and legumes. The level of awareness amongst people regarding the benefits of phytosterols is increasing and hence they are willing to include more phytosterols and other healthy products in their diet. There has been an increase in the per-capita income of people in most of the countries in the world, which has also helped them to spend more on healthy diet. Considering these factors, the food segment was the largest for the consumption of phytosterols in 2014 and the trend is projected to be the same for the next five years. Key players such as DSM N.V. (The Netherlands) and BASF SE (Germany) manufacture various phytosterols for human consumption.

TABLE 2 PHYTOSTEROLS MARKET SIZE FOR FOOD, BY REGION, 2013-2020 ($MILLION)

CAGR% Region 2013 2014 2015-e 2020-p (2015-2020)

North America XX XX XX XX XX

Europe XX XX XX XX XX

Asia-Pacific XX XX XX XX XX

Latin America XX XX XX XX XX

RoW XX XX XX XX XX

Total XX XX XX XX XX

Source: Annual Reports, SEC Filings, Press Releases, Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis

The European region accounted for the largest share in the food market in 2014, wherein around XX% of its global value was generated from the region in 2014. The market is estimated to be valued at $XX million in 2015 and projected to reach $XX million by 2020. The region is also projected to be the fastest- growing market between 2015 and 2020 with a CAGR of XX% owing to rise in cardiovascular diseases and increasing awareness amongst people regarding the health benefits of phytosterol products. North America stood second with a market size of $XX million in 2014 and is projected to reach $XX million by 2020, at a CAGR of XX% from 2015. The Asia-Pacific region is the third-largest market for phytosterols and is projected to grow at a CAGR of XX% from $XX million in 2015 to $XX million by 2020. Latin America and RoW phytosterols markets are projected to grow at CAGRs of XX% and XX%, respectively, between 2015 and 2020.

6 PHYTOSTEROLS MARKET, BY BRAND

6.1 PINVITA - DUPONT DuPont offers plant sterol ingredients through its PinVita brand that is derived from natural pine sources and is available in free and esterified form. They can be formulated in various ranges of applications, such as dietary supplements, fats & oils, dairy, cereals & bars, and bakery products. PinVita received the GRAS status and was introduced in April 2011.

TABLE 3 PINVITA PHYTOSTEROL INGREDIENTS APPLICATION

Product Application

 Dietary supplements PinVita FSP  Bakery

 Dietary supplements PinVita FSF  Bakery  Cereal bars

 Dietary supplements PinVita ES  Oils

Source: Annual Reports, Company Website, and MarketsandMarkets Analysis

7 PHYTOSTEROLS MARKET, BY REGION

7.1 NORTH AMERICA

7.1.1 U.S. The U.S. was the largest market for phytosterols worldwide, accounting for around XX% of the North American market in 2014, and is projected to grow at a significant CAGR of XX% for the next five years.

There has been an increase in phytosterols consumption in the country owing to various factors such as:

 Increasing demand for natural products

 Rising aging population and increasing demand of age-related supplements

 Awareness over the risk of cardiovascular diseases

 Proactive cancer care measures

FDA has approved the inclusion of a specified amount of CardioAid (a plant sterol ingredient by ADM (U.S.)) in XX food categories including fruit and vegetable juices, margarine & vegetable oil spreads, dressings for salads, beverages, snack bars, dairy analogs, cheese & cream, baked foods, ready-to-eat cereals, mayonnaise, pasta & noodles, sauces, salty snacks, processed soups, puddings, yogurt, and confections.

TABLE 4 U.S.: PHYTOSTEROLS MARKET SIZE, BY TYPE, 2013-2020 ($MILLION)

CAGR% Type 2013 2014 2015-e 2020-p (2015-2020)

Beta-sitosterol XX XX XX XX XX

Campesterol XX XX XX XX XX

Stigmasterol XX XX XX XX XX

Others* XX XX XX XX XX

Total XX XX XX XX XX

Others* include avenasterol, ergosterol, brassicasterol, lupeol, and cycloartenol Source: Expert Interviews, Related Associations/Institutes, Related Research Publications, Government Publications, and MarketsandMarkets Analysis

The U.S. phytosterols market is projected to grow at a CAGR of XX% and reach $XX million by 2020, from $XX million in 2014. Beta-sitosterol dominated the U.S. phytosterols market during the review period, growing at a CAGR of XX%, to reach a value of $XX million by 2020. The country’s rise in aging population and the increasing risk of cardiovascular diseases have led to an increase in the market size of beta- sitosterol in the country.

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