Latin America Phytosterols Market Outlook
The Latin America Phytosterols Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3.38% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising demand for functional food and dietary supplements.
Plant sterols, also known as stanol esters, are naturally occurring compounds in plants with a structure that is similar to that of human cholesterol. When taken in meals, they compete with cholesterol for absorption in the gut. Phytosterols are abundant in whole grains, fruits, vegetables, soybeans, mushrooms, vegetable oils, lentils, and nuts.
Plant sterols are found in around 300 milligrams (mg) per day in a conventional western diet, and between 300 and 500 mg per day in a vegetarian diet. In persons with hypercholesterolemia, this dose is deemed insufficient to produce the required decrease in LDL.
Phytosterols are added to several commercially produced foods, such as juices, yoghurt, breakfast bars, salad dressings, and margarine, during the production process. Supplements containing phytosterols can be found at a variety of health food stores, supermarket stores, and pharmacies.
People with poorly managed high cholesterol (hypercholesterolemia) as well as individuals with familial hypercholesterolemia, an inherited genetic condition are among major consumers.
One of the primary reasons driving the market is the rising frequency of diseases such as hypercholesterolemia and cancer.
The use of herbal and mineral extracts as food additives is also increasing demand for the product. Phytosterols are an important component of dark chocolate, which is a favorite delicacy among the general public.
Latin America Phytosterols Market Trends, Drivers, Restraints, and Opportunities
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Increasing health-conscious population is projected to drive the market during the forecast period.
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Consumer spending on personal care and rising awareness for appearance and skin condition is anticipated to boost the market in the coming years.
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Rising heart related conditions and unhealthy lifestyles are expected to boost the market.
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Growing demand for protein rich food is expected to propel the market.
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Increasing awareness among farm owners about the health benefits and improving overall health of the livestock are projected to fuel the market.
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Increasing use of food additives in the food & beverages is expected to drive the market during the forecast period
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Rapid growth of the cosmetic industry is key factors boosting the market in the coming years.
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Competition from similar types of products act as major challenges that can hamper the market growth.
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R&D investment and technological advancement to enhance the therapeutic benefits of phytosterols is expected to create immense opportunities for the market players.
Scope of Latin America Phytosterols Market Report
The report on the Latin America phytosterols market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Phytosterols Market - Latin America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Sauces & Condiments, Beverages, Dairy Products, Bakery & Confectionery and Others), Product Types (Beta-Sitosterol, Stigmasterol, Campesterol, and Others)
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Regional Scope
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Latin America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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BASF SE; Ashland Global Holdings Inc.; Advanced Organic Materials SA; Cargill; Incorporated; Matrix Fine Sciences Pvt Ltd.
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Latin America Phytosterols Market Segment Insights
The dairy products segment is projected to account for a large market share
Based on applications, the Latin America phytosterols market is divided into sauces & condiments, beverages, dairy products, bakery & confectionery, and others. The dairy products segment is expected to represent a key share of the market during the forecast period owing to increasing use as additions in sauces, yoghurt, butter, and other dairy products because of their cardioprotective properties.
The beta-sitosterol segment is expected to grow at a robust pace
On the basis of product types, the Latin America phytosterols market is segmented into beta-sitosterol, stigmasterol, campesterol, and others. The beta-sitosterol segment is expected to hold a key share of the market in the coming years owing to growing demand of beta-sitosterol in pharmaceutical sector particularly in drugs used to treat genital diseases it is also found in drugs that treat urinary tract problems, colon cancer, migraines, cholesterol reduction, allergies, and heart disease.
Segments
Applications
- Sauces & Condiments
- Beverages
- Dairy Products
- Bakery & Confectionery
- Others
Product Types
- Beta-sitosterol
- Stigmasterol
- Campesterol
- Others
Region
Key Players
Competitive Landscape
Key players competing in the Latin America phytosterols market include BASF SE; Ashland Global Holdings Inc.; Advanced Organic Materials SA; Cargill; Incorporated; Matrix Fine Sciences Pvt Ltd.
Some of these players are coming up with business strategies including partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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