Plant Sterol Esters Market Trends

Growth Drivers

• Expansion of functional food industry - The functional food industry is experiencing rapid growth as consumers seek out products that offer additional health benefits beyond basic nutrition. Plant sterol esters are increasingly being incorporated into functional food products such as spreads, dairy alternatives, and beverages, driving market expansion. The future of the functional food sector seems bright; global revenue for functional foods is expected to rise from about 300 billion US dollars in 2017 to more than 440 billion by 2022.

• Increasing health awareness among the aging population - The aging population is more susceptible to health issues such as high cholesterol and cardiovascular diseases. As the elderly demographic expands, there is a higher demand for products that can address age-related health concerns, providing growth prospects for plant sterol esters market.
  As reported by WHO, the share of old age population globally will be around 1.4 billion in 2030, up from 1 billion in 2020. Furthermore, as people become more health-conscious, there is a growing demand for natural ingredients that can help manage cholesterol levels, which in turn helps in chronic disease management. Plant sterol esters have been shown to effectively lower LDL cholesterol, making them popular among consumers looking for natural cholesterol-lowering solutions.

• Technological advancements in extraction and formulation - Ongoing research & development efforts have led to advancements in the extraction and formulation of plant sterol esters, improving their efficacy and versatility. Enhanced formulations make it easier for manufacturers to incorporate plant sterol esters into a wide range of food and beverage products, further driving plant sterol esters market growth. 

Challenges

• High cost of product - The plant sterol esters market expansion is anticipated to be hampered by the high cost of these products in the various developing countries and worries about the stringent regulatory requirements for the approval of phytosterol-based products and components. The market for plant sterol esters is anticipated to face challenges during the forecast period due to a lack of knowledge and awareness about the product's advantages in developing countries.

• Limited consumer awareness - Despite their proven health benefits, many consumers remain unaware of plant sterol esters and their cholesterol-lowering properties. Lack of awareness hampers market growth as consumers may not actively seek out products containing plant sterol esters.