Market Trends of Phytosterols Industry
Increasing Prevalence of Cardiovascular Disease
- One of the key factors driving the growth of the phytosterol market is the increasing number of deaths caused by cardiovascular diseases (CVD). CVD is a leading cause of premature death across the globe, including heart attacks, strokes, and other circulatory diseases.
- According to data from the Organization for Economic Cooperation and Development (OECD), CVD accounts for close to 670,000 deaths (29% of all deaths) annually in Europe. In England alone, 7 million people live with CVD, contributing to over a quarter of deaths each year, according to data from the Office of Health Improvement and Disparities.
- Due to the rising incidence of cardiovascular disease (CVD), there has been a surge in the use of phytosterols within the pharmaceutical industry, as they have been shown to offer protective benefits against CVD. Regulatory bodies such as the Food and Drug Administration (FDA) and European Union have mandated that manufacturers label their products with the amount of phytosterols contained and indicate that they are intended solely for use by consumers with heart disease.
- Additionally, as healthcare expenses continue to rise, there is a growing emphasis on preventive healthcare solutions. This has prompted consumers to take greater responsibility for their own health by seeking out health information and making informed decisions when purchasing phytosterol dietary supplements. As a result, the market for these products is experiencing significant growth.
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Europe to Dominate the Market Growth
- Europe is poised to dominate the global phytosterol market, with a significant market share driven by the growing demand for plant-based food products. The region is also experiencing an upsurge in demand for plant-derived fortified food products, which is boosting the growth of the phytosterol market. According to the European Food Safety Authority (EFSA), consumption of 1.5 g-2.4 g of plant sterols per day helps to reduce blood cholesterol levels by 7%-10%.
- To capitalize on the cholesterol-lowering effect of phytosterols, manufacturers are introducing products infused with plant sterols. For instance, the UK-based company Raisio has incorporated plant sterols in yogurt drinks, bars, spreads, and soft chews. Moreover, the increasing disposable income of consumers is driving sales of phytosterol food products in the market. A study on consumer purchase behavior of food with added phytosterols in European countries published in Elsevier B.V. revealed that the United Kingdom has the largest penetration rate of households (12.1%) purchasing foods with added phytosterols.
- As a result, the increasing consumption of phytosterol food products is expected to propel market growth in the forecast period.
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