Global Cholesterol Market, 2023-2028
Market Overview
Cholesterol is a component of human intercellular lipids that is readily absorbed into the skin, has moisturizing properties, and is widely used as a component of pharmaceutical ingredients such as anti-inflammatory ointments and baby care products such as nipple cream. Cholesterol is also used as a raw material for the production of vitamin D3 and as a feed additive. The global cholesterol market is expected to increase by USD 31.7 million, at a compound annual growth rate (CAGR) of 5.43% from 2023 to 2028.
On the basis of source, the cholesterol market is segmented into plant-based cholesterol and animal-based cholesterol. The plant-based cholesterol segment is expected to grow at the fastest CAGR through 2028.
The majority of cholesterol is currently produced from animal sources, with only Evonik Industries AG (PHYTOCHOL®), Merck KGaA (SyntheChol™) and Hunan Kerey Pharmaceutical Co., Ltd. offering plant-derived cholesterol on the market. Plant-derived cholesterol is used as a high-end pharmaceutical excipient in non-animal-derived cell culture media for small molecule liposomal drugs, nucleic acid drugs, mRNA vaccines and protein drugs, as well as in the preparation of plant-derived vitamin D3 products. With the further enrichment of downstream applications, the plant-derived cholesterol industry is expected to grow rapidly.
The global cholesterol market, based on applications is segmented into VD3, feed additives, cosmetics and pharmaceuticals, and others. The VD3 segment led the cholesterol market in 2022, contributing more than half of the market share and is expected to maintain its dominance during the forecast period of 2023 to 2028. However, the cosmetics and pharmaceuticals segment is expected to register the fastest CAGR through 2028. As one of the most important building blocks of life, cholesterol is an essential raw material used in innovative technologies from lipid nanoparticles for mRNA delivery to cell culture media. In addition, the cholesterol for feed market will also see a decent growth. Feed-grade cholesterol (80% and 91% purity) is mainly used as a shrimp feed additive. According to industry experts, the Chinese national standard for cholesterol as a shrimp feed additive is currently being actively promoted. Once cholesterol is mandated to be added to shrimp feed, it will inevitably contribute significantly to feed-grade cholesterol demand.
In 2022, the Asia Pacific region emerged as the leading contributor to the global cholesterol market, holding the largest market share. This dominance is projected to continue throughout the forecast period. The Asia Pacific region, with a particular focus on China, not only houses a significant number of cholesterol manufacturers but also serves as a major global producer of vitamin D3. China's significant role as a global producer of vitamin D3 further strengthens the region's position in the cholesterol market. Cholesterol is a crucial raw material in the synthesis of vitamin D3, which is widely used in the pharmaceutical, food, and personal care industries.
At present, 95% of the global vitamin D3 capacity is concentrated in China, and the major foreign producers include Koninklijke DSM N.V., Dishman Carbogen Amcis Limited, etc. On December 17, 2019, The State Administration for Market Regulation (SAMR) and the State Standardization Administration issued the national standard for feed additives vitamin D3 oil, which came into effect on July 1, 2020. The new standard specified that the starting material for vitamin D3 oil should be lanolin cholesterol, limiting the use of brain stem cholesterol and making lanolin the only legal source material for the production of vitamin D3.
Competitive Landscape
The global cholesterol market is controlled by a handful of players, of which Chinese players are an important part of it. Companies profiled in this report include Anhui Chem-Bright Bioengineering Co., Ltd., Anhui Tianqi Chemical Engineering Co., Ltd., China Resources Boya Bio-pharmaceutical Group Co., Ltd., Dishman Carbogen Amcis Limited, Evonik Industries AG, Henan Liwei Biological Pharmaceutical Co., Ltd., Hunan Kerey Pharmaceutical Co., Ltd., Jiangxi Tianxin Pharmaceutical Co., Ltd., Merck KGaA, Nippon Fine Chemical Co., Ltd., NK Ingredients Pte. Ltd. (filed for bankruptcy), Rowi Biotechnology Co., Ltd., Taizhou Hisound Pharmaceutical Co., Ltd., Xiamen Kingdomway Group Company, Zhejiang Garden Biochemical High-Tech Stock Co., Ltd., among others.
As Chinese companies continue to establish market dominance with their cost advantages, the remaining companies are at risk of losing market share. In the past few years, Singapore-based cholesterol producer NK Ingredients Pte. Ltd. stopped cholesterol production and filed for bankruptcy in 2017, and India-based Dishman Carbogen Amcis Limited has also been losing market share. Japan Fine Chemicals Limited, the absolute market leader in lanolin products and cholesterol in Japan, has also been experiencing difficulties in losing market share overseas. It’s a different story for Chinese companies, as Zhejiang Garden Biochemicals has been experiencing high capacity utilization over the past few years and, according to the company, has even experienced oversupply due to capacity constraints.
Key Questions Answered
What is the projected global market size of cholesterol by 2028
Which source segment generates the highest revenue
In the cholesterol market, which application segment attains the foremost position
Which region segment generates the most substantial revenue
Who are the key players with the largest market share in the cholesterol market
What is the estimated global market size for the cholesterol market in 2023
What are the main factors driving the growth of the cholesterol market
What is the expected incremental growth of the cholesterol market during the forecast period
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Figures and Tables 8
Part 1. Introduction 13
Report Description 13
Objectives of The Study 13
Market Segment 14
Years Considered for The Report 16
Methodology 16
Part 2. Key Findings 18
Part 3. Market Overview 24
Introduction 24
Market Dynamics 24
Drivers 24
Restraints 24
Part 4. Cholesterol Market by Source 25
Overview 25
Plant-based Cholesterol 27
Market Size and Forecast 27
Plant-based Cholesterol Market, by Region 28
Animal Cholesterol 29
Market Size and Forecast 29
Animal-based Cholesterol Market, by Region 30
Part 5. Cholesterol Market by Application 32
Overview 32
VD3 34
Cholesterol for VD3 Market, Size and Forecast 34
Cholesterol for VD3 Market, by Region 35
Feed Additives 36
Cholesterol for Feed Additives Market, Size and Forecast 36
Cholesterol for Feed Additives Market, by Region 37
Cosmetics and Pharmaceuticals 38
Cholesterol for Cosmetics and Pharmaceuticals Market, Size and Forecast 38
Cholesterol for Cosmetics and Pharmaceuticals Market, by Region 39
Others 40
Cholesterol for Others Market, Size and Forecast 40
Cholesterol for Others Market, by Region 41
Part 6. Cholesterol Market by Geography 43
Overview 43
Market Size and Forecast 43
North America 44
Market Size and Forecast 45
Key Countries 47
United States 47
Canada 48
Mexico 48
Europe 49
Market Size and Forecast 49
Key Countries 51
Germany 52
France 52
UK 53
Italy 54
Spain 54
Rest of The Europe 55
Asia-Pacific 56
Market Size and Forecast 56
Key Countries 58
China 58
Japan 59
India 60
South Korea 60
Australia 61
Rest of Asia-Pacific 62
MEA 62
Market Size and Forecast 63
Key Countries 65
Saudi Arabia 65
Turkey 66
South Africa 66
Rest of MEA 67
Latin America 67
Market Size and Forecast 68
Key Countries 70
Brazil 70
Rest of Latin America 71
Part 7. Key Competitor Profiles 72
Zhejiang Garden Biochemical High-Tech Stock Co., Ltd. 72
Company Information 72
Product and Services 72
Business Overview 72
SWOT Analysis 73
Anhui Chem-Bright Bioengineering Co., Ltd. 73
Company Information 74
Product and Services 74
Business Overview 74
SWOT Analysis 75
Dishman Carbogen Amcis Limited 75
Company Information 75
Product and Services 75
Business Overview 75
SWOT Analysis 76
Henan Liwei Biological Pharmaceutical Co., Ltd. 76
Company Information 77
Product and Services 77
Business Overview 77
SWOT Analysis 78
Nippon Fine Chemical Co., Ltd. 78
Company Information 78
Product and Services 78
Business Overview 78
SWOT Analysis 79
Hunan Kerey Pharmaceutical Co., Ltd. 79
Company Information 80
Product and Services 80
Business Overview 80
SWOT Analysis 81
Evonik Industries AG 81
Company Information 81
Product and Services 81
Business Overview 81
SWOT Analysis 82
Part 8. Other Prominent Vendors 83
Merck KGaA 83
Rowi Biotechnology Co., Ltd. 83
Taizhou Hisound Pharmaceutical Co., Ltd. 83
Xiamen Kingdomway Group Company 83
NK Ingredients Pte. Ltd. 83
Anhui Tianqi Chemical Engineering Co., Ltd. 83
China Resources Boya Bio-pharmaceutical Group Co., Ltd. 83
Jiangxi Tianxin Pharmaceutical Co., Ltd. 83
DISCLAIMER 84
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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