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on November 2, 2023
Market Summary: The global Plant Sterol Esters market was valued at USD 750 million in 2022 and is projected to reach USD 1.4 billion by 2032, with a compound annual growth rate (CAGR) of 6.5% during the forecast period. The market growth is driven by the increasing demand for sterols in the food and beverage industry, fueled by the rising popularity of healthy eating habits and awareness of the health benefits of sterols. Additionally, the use of sterols as cholesterol-lowering agents in pharmaceutical applications is contributing to market revenue growth.
Furthermore, the demand for plant-derived sterols in cosmetics and personal care products is on the rise, driven by consumers' preference for natural and organic items. The market for sterols is also boosted by the growing demand for dietary supplements and functional foods to address chronic conditions like cardiovascular disease, obesity, and diabetes. Sterols play a significant role in sustainable and bio-based products, such as biodegradable polymers, which align with the increasing adoption of eco-friendly practices.
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Government Regulations: The European Food Safety Authority (EFSA) has set maximum levels for added sterols in food products and imposed restrictions on certain sterol derivatives' use. The U.S. Food and Drug Administration (FDA) has provided guidance for products containing plant sterols and stanols regarding safety and labeling requirements. The World Health Organization (WHO) recommends limiting the intake of saturated fat, trans fats, and cholesterol-containing foods to reduce the risk of cardiovascular disease. The Codex Alimentarius Commission has established a code of practice for marketing food products with added sterols, covering guidelines on labeling, composition, and use levels. In Europe, legislation mandates declaring the presence of certain added sterols on food product labels if they exceed 0.2%.
Sterol Market: Drive factors
The Plant Sterol Esters market is influenced by various factors that drive its growth and demand. Sterols are a class of organic compounds that play essential roles in various industries and applications. Some of the key drive factors for the sterol market include:
- Health and Nutrition: Sterols, especially plant sterols, have gained popularity due to their cholesterol-lowering properties. They are often added to functional foods and dietary supplements to promote heart health. The growing awareness of the importance of maintaining healthy cholesterol levels has driven the demand for sterols in the food and dietary supplement industry.
- Pharmaceutical Industry: Sterols are used as raw materials in the pharmaceutical industry for the synthesis of steroidal drugs and hormones. The demand for pharmaceutical products, including hormones and corticosteroids, drives the sterol market.
- Cosmetic and Personal Care: Some sterols, such as phytosterols and sterol esters, are used in cosmetic and personal care products for their skin-conditioning and moisturizing properties. The beauty and skincare industry's growth fuels the demand for sterols in various formulations.
- Agriculture and Plant Growth Regulators: Sterols are used in agriculture as plant growth regulators. They can enhance plant growth, improve crop yield, and protect plants from stress. The agricultural sector's expansion contributes to the sterol market's growth.
- Functional Foods and Beverages: The trend of incorporating functional ingredients into foods and beverages has led to the increased use of sterols in products like fortified margarines, spreads, and dairy alternatives. Consumers are seeking products that offer health benefits, further driving demand in this segment.
- Increasing Vegan and Plant-Based Diets: As more people adopt vegan and plant-based diets, the demand for plant-based sterols has risen. Plant sterols are naturally found in various plant-based foods and are often added to dairy alternatives and other vegan products.
- Research and Development: Ongoing research and development in the field of sterols and their applications have led to the discovery of new uses and benefits. This has expanded the market and led to the development of innovative products and applications.
- Regulatory Support: Regulatory bodies in various countries have recognized the potential health benefits of sterols and have provided guidelines and approvals for their use in specific applications. This has bolstered the sterol market's growth by providing a regulatory framework for their inclusion in food and dietary products.
- Consumer Awareness: Increased consumer awareness of the benefits of sterols in maintaining good health and well-being has driven demand for sterol-enriched products.
- Global Population Growth: The overall increase in the global population has a direct impact on the demand for food, pharmaceuticals, and other products containing sterols.
These factors, among others, contribute to the growth of the Plant Sterol Esters market. The market is diverse, with applications in various industries, making it responsive to changing consumer preferences and market dynamics.
Some of the major companies in the market include Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Raisio plc, Matrix Fine Sciences Pvt. Ltd, HyPhyto Inc, Lipofoods SLU, Vitae Caps S.A, Xi'an Healthful Biotechnology Co. Ltd, and LKT Laboratories Inc.
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Posted in: Business
Topics:
sterol market, plant sterol esters market