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Sterols Market size is forecast to reach US$1,585.7 million by 2027, after growing at a CAGR of 7.5% during 2022-2027. Sterols are the naturally occurring compounds that are majorly found in the cell membranes of plants (vascular plant). Sterols are obtained from plant sources such as cereals, nuts, vegetable oils, and tall oils among others. Vegetable oils including sunflower oil, soybean oil, and corn oil are the major sources of sterols. Beta-sitosterol is one of many sterols that come from plants. Sterols are a subgroup of steroids and they are amphipathic lipids synthesized from acetyl-coenzyme. The change in consumer food habits along with the increase in the prevalence of cardiovascular diseases are some of the major factors expected to drive the market growth for sterols during the forecast period. Sterols reduce cholesterol absorption, due to their structural resemblance with cholesterol and offer many benefits for human health. According to the WHO, cardiovascular diseases (CVDs) are one of the leading causes of death globally, and also estimated at approximately 17.9 million die each year. However, the limited availability of sterol-based products in developing economies and fluctuating raw material prices are likely to hamper the market growth during the forecast period.
Sterols Market Segment Analysis – By Type
The Phytosterols segments accounted for approximately 45% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. Phytosterols, also known as plant sterols, are a family of molecules related to cholesterol. Phytosterols block the absorption of cholesterol and also improve heart health and decrease blood levels of LDL (bad) cholesterol in the body. They are extensively found in nuts, seeds, vegetable oil, and margarine among others. So phytosterols are added to food and supplements to enhance heart health. Hence the growing demand for healthy food along with the increasing incidence of heart-related diseases are driving the market for phytosterols segment. According to the European Food Safety Authority (EFSA), if a person consumes 1.5 to 2.4 gm of plant sterols and stanols per day, then the blood cholesterol level can be reduced by 7-10%.
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Sterols Market Segment Analysis – By Application
The food segment accounted for more than 31% of the market share in 2021 and is estimated to grow significantly during the forecast period. The increasing number of food processing companies along with the growing consumption of processed food is supporting the market growth for the food segment. The food segment includes dairy products, sauces & dressings, beverages, bakery and confectionery, and others. According to the facts published by USDA, there are approximately 36,486 food processing plants in the United States. These plants include different types of food processing including, dairy processing, bakery processing, oil processing, and others. The United States Department of Agriculture reported that the food industry generated approximately US$1.7 trillion in 2019 in the United States. Hence, the food industry growth will drive the Sterols market. The personal care segment is also expected to register significant growth during the forecast period. According to Cosmetics Europe, the European cosmetics products market is valued at USD67.2 billion at a retail sales price in 2020. Hence the growth in usage of personal care products is also driving the market for the Sterols market.
Sterols Market Segment Analysis – By Geography
European region held the largest share in the sterols market in 2021, up to 33%, owing to the rapid growth in food & beverage, personal care, and pharmaceutical industries in the region. The presence of developed nations such as Germany and the United Kingdom is driving the market growth in the region. The increasing demand for non-GMO products in the European region is supporting the market growth for sterols. The European Union has made it mandatory for the food manufacturers to label their products with the content of phytosterol in the product specifications. Phytosterol products are widely preferred among heart patients to regulate proper blood flow. Cardiovascular diseases (CVD) remain the leading cause of death in Europe accounting for 45% of all deaths. More than 4 million Europeans die every year from CVD, primarily from coronary heart disease (CHD) and stroke. Hence the growth in CVD diseases along with the growing demand for healthy food is supporting the market for sterols in the European region.
Sterols Market Drivers:
Growth demand for nutritional and healthy food
The demand for nutritional and healthy food from consumers is expanding at a rapid pace. Healthy food includes nutrients added to them and they help to boost the nutritional value and benefit the health of consumers. Food ingredients such as vitamins, prebiotics, minerals, amino acids, and antioxidants, are the key ingredients of nutritional food. The health-conscious population is rapidly expanding in both emerging markets and developed markets are driving the demand for sterols. Various factors such as increasing instances of chronic diseases and micronutrient deficiencies, growth of the middle class in emerging economies, new government fortification programs, are also supporting the market growth. According to Invest India data, the domestic food processing industry employs approximately 1.93 million people in around 39,748 processing units with fixed capital of US$32.75 billion. The country also produced approximately 198.4 mn tonnes of milk during 2019-20 and export of meat, dairy, and poultry products increased from US$483.5 mn in April-June 2020 to US$1022.5 mn in April-June 2021. The increasing preference for cholesterol-less food to prevent chronic conditions such as cardiovascular diseases, blood pressure, high cholesterol, diabetes, and others are driving the market growth.
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Sterols Market Challenges:
Side effects of consuming phytosterols
Phytosterols, also known as plant sterols or stanol esters, are naturally occurring compounds found in plants that are similar in structure to cholesterol found in humans. The products offer various benefits along with some mild side effects such as constipation, nausea, upset stomach, heartburn, flatulence, and the discoloration of stools among others. Higher sterol doses are associated with an increased risk of side effects and these products are not given to people with a rare genetic disorder called phytosterolemia.
Sterols Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Sterols market. Major players in the Sterols market include
Recent Developments
In October 2019, Way2B Launches World’s First Functional Drink with Water-Soluble Plant Sterols. Way2B Way Better Water™ Drink is available in individual-serving bottles at Lunds & Byerlys and Cub Foods stores throughout the Twin Cities metro, and at Amazon.com through their LaunchPad program.
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Key Takeaways
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