Persistence Market Research (PMR) has published a report on the sterols market, which includes the global industry analysis of 2014-2018 and opportunity assessment of 2019-2029, and projects that the global sterols market is expected to reach ~US$ 800 Mn by the end of 2019 in terms of value, and is forecasted to reach ~US$ 1.5 Bn by the end of 2029.
According to the report, the fast-pace lifestyle of the working population around the globe is leading them to the early age cardiovascular disease. Fast-food and unhealthy eating habits aggregate risks of increasing cholesterol level in the human body. According to the World Health Organization (WHO), 31% of people die annually from cardiovascular disease around the globe. 80% of deaths are due to heart attacks or strokes, and more than 75% of these deaths are accruing in the emerging economies.
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In order to prevent heart attack and risk of cardiovascular diseases the demand for functional food with added sterols is increasing across the globe. Daily consumption of 1.5 grams to 3 grams of sterol lowers the blood LDL-cholesterol by 7% to 12% in just 3 weeks. This adaptation of functional food with added sterols will lower the risk of cardiovascular disease and provide thrust to the sterols market in 2019 and beyond.
Plant-based Sterols Remain in Trend, Creating Lucrative Opportunities
Consumers are well aware of healthy food and diet as the risk of cardiovascular diseases (CVDs) is compelling them to adopt a healthy lifestyle, which also includes healthier dietary practices. CVD patients are following the trend of natural, plant-based ingredients same trend and demanding for more functional food with added plant-based sterols in it. Thus, the demand from dairy, snacks, bakery, and beverage product manufacturers are increasing for the plant-based sterols.
For instance, Cragill, Inc. has identified this trend and is offering the plant-based sterols under its brand CoroWise to the manufacturers of dairy, snacks, bakery and beverage products. Although the emerging markets are remaining untapped in the plant-based sterols, revels the PMR study.
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‘Flavored Functional Products’ – A Highly Lucrative Application Category
The demand for sterols is continued to rise and manufacturers of sterols providing very limited functional products for consumers. Manufacturers are facing skintight competition to garb the leading market position. Manufacturers need to invest in the research and development for sterols and the functional foods. New products with added sterols and existing products with new flavors are current demand form the consumers of functional products. According to the study, the growth opportunity for leading player is to launch new and innovative functional food that have sterols as the main ingredient on a regular basis. This will help companies to increase their presence in the regional markets as well as create a strong global footprint in the global sterols market.
PMR’s business intelligence also underlines groundbreaking insights into the competitive scenario of the global sterols market along with the highlights of the differential strategies implemented by manufacturers. Key players in the global sterols market focusing on investing in research and development, which is likely to help them retain or increase their market share in the global sterols market. According to the report, manufacturers are also focusing on new product development and increasing product offerings, which will help them increase their global presence.
This study underlines key opportunities in the global sterols market and finds that the market would exhibit growth at a value CAGR of ~7% during the forecasted period.