The ingredient and technology, called Multibene, is also thought to be the first phytosterol ingredient approved for use in meat products.
The MultiBene technology combines plant sterols and one or more minerals, such as calcium, potassium and/or magnesium in various food items. The composition has world-wide patent protection.
The product's developer, Dr Heikki Karppanen, a professor of medical pharmacology based at the University of Helsinki, says that the combination of mineral and plant sterol offers unique advantages over the currently available sterol ingredients.
"Most people with high cholesterol are also suffering from high blood pressure and need to control both. Other sterol makers can only claim to lower cholesterol," he told NutraIngredients.com.
There is also a major public health need for increased intake of calcium, given the warnings about the threat of osteoporosis, he said.
The composition can be tailor-made depending on its application. For yoghurts, which already have naturally high levels of calcium, magnesium or potassium may be added to lower blood pressure.
But calcium could be added with sterols to orange juice, for example.
Karppanen, through his four-person research company Pharmaconsult, is now looking for licence agreements with the leading food producers for use of the technology in yellow fat spreads, milk and yoghurt type products, and savoury sauces.
He notes that most of the major sterol suppliers have already agreed to supply sterols for the composition. They have also sought to licence the technology for their own use, but Multibene is likely to go first through a food marketer.
The technology has already been licensed to some smaller players for the Nordic market, such as the Finnish baker Fazer and meat company Pottu, which has seen good flavour profiles and cholesterol-lowering effects in tests using the ingredient in its cold meats.
"Many people have cholesterol problems mainly because of their meat consumption so this could be a very tempting way of controlling the problem," added Karppanen.
The ingredient could also be cheaper than phytosterols currently available in Europe as it does not require the esterification process used by Unilever, or two-step chemical process used by Raisio. Instead, Multibene is made by a micronising technique that breaks down the sterol into very small particles.
The sterol and mineral can be added at different stages of the food manufacturing, depending on the application, notes Karppanen. And food manufacturers could even purchase lower cost sterols made by the biggest sterol producers, he adds.
After applying for novel foods approval in September 2001, Pharmaconsult received notification from the European Commission last week that the ingredient can be included in foods for the European market.
The approval comes as consumers are increasingly aware of the benefits of lowering cholesterol and of the actions of phytosterols, thanks to the marketing of the early players.
Last year the European phytosterol market was worth $75 million but it is forecast to grow by 15 per cent each year, according to Frost & Sullivan, boosted by anticipated new product launches.