Europe Sterol Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

Key Highlights

• Over the short term, the demand from the pharmaceutical, food, and beverage industries is accelerating the market's growth.
• However, one of the main factors hindering the expansion of the European sterol market is the high cost of the raw materials used in their manufacturing.
• Nevertheless, chances for the market over the forecast period are expected to emerge from sustainable and effective bio-based, GMO-based sterol products.
• In terms of revenue, Germany is expected to dominate the European market during the forecast period.

Europe Sterol Market Trends

Strong Demand from the Pharmaceutical Industry

• The pharmaceutical industry is the biggest consumer of sterol. Pharmaceutical drugs typically contain sterol, including anti-inflammatory drugs, hormone replacement therapy, and drugs that decrease cholesterol. Europe is the third-largest pharmaceutical manufacturer in the world, with USD 247.23 billion in exports in 2021, a 9.44% increase from 2020.
• For both adults and children, the sterol is a secure and reliable alternative for decreasing cholesterol levels. Additionally, doctors urge patients to take plant sterol supplements to lower their risk of developing heart disease because high cholesterol levels raise the possibility of heart failure. The leading cause of mortality in Europe is expected to remain cardiovascular illnesses in 2022.
• According to the WHO, by 2022, cardiovascular diseases will be to blame for more than 30% of all fatalities in Europe. It is anticipated that risk factors like smoking, inactivity, poor eating habits, and high blood pressure will continue to be the main contributors to cardiovascular disease in Europe.
• In 2022, it is expected that stomach cancer will still be the second-leading cause of cancer-related mortality in Europe. According to the WHO, stomach cancer accounts for 10% of all cancer-related mortalities in Europe. Stomach cancer seems to be less likely to strike those whose diets are high in sterols. The main risk factors for stomach cancer in Europe are anticipated to be smoking, a poor diet, and infection with helicobacter pylori.
• Additionally, certain stomach cancers, colon cancer, and rectal cancer are treated with the use of plant sterols. Additionally, these plant sterols support a loss of weight.
• In Europe, obesity and being overweight are anticipated to be serious public health issues in 2022. The WHO estimates that 60% of adults in Europe are overweight or obese, and that number is likely to rise in the years to come. The availability of low-cost, calorie-dense foods, an increase in sedentary behavior, bad diets, and other factors all contribute to this.
• Overall, it is anticipated that the region's market for sterol would be driven by the expanding pharmaceutical industry over the forecast period.

Germany to Dominate the Market

• Germany is the largest market for sterols in Europe, attributed to a strong pharmaceutical industry, which is the largest consumer of sterols. The food and beverage industry is also a major consumer of sterols, as they are used as emulsifiers and stabilizers in food products. The dietary supplement industry is also a major consumer of sterols, as they are used to reduce cholesterol levels. Germany is also a major producer of sterols, with several large companies producing them for the domestic and international markets.
• According to the UN Comtrade database, Germany's pharmaceutical exports by the end of 2021 were at USD 119.27 billion. This is an increase of 22.17% from 2020, when exports were at USD 99.25 billion. Germany is the second-largest exporter of pharmaceuticals in Europe, behind only the United Kingdom. Most Germany's pharmaceutical exports are to other European countries, with the United States being the largest non-European destination.
• The largest phytosterol market share in Germany is held by the food and beverage industry. The most prevalent food items are spreads and milk-related goods like yogurt and yogurt drinks. Manufacturers are developing products infused with plant sterols to benefit from the cholesterol-lowering properties of phytosterol.
• Sterols are used in food manufacturing as emulsifiers, stabilizers, and texturizers. They are also used to reduce cholesterol levels in foods. Common sterols used in food manufacturing include sitosterol, stigmasterol, and campesterol.
• Germany is by far Europe's largest market for food and drink, with more than 80 million of the richest consumers in the world calling it home. German food sales are projected over USD 200 billion in 2022.
• Considering the aforementioned factors, Europe's sterol market is anticipated to rise steadily over the forecast period.

Europe Sterol Market Competitor Analysis

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