The Lecithin market, which was anticipated to be worth $ 136.10 Million in 2021, is expected to expand to US$ 189.37 Million by 2028, with a CAGR of 6.7 percent throughout the analyzed period. Lecithin is a type of fat that is required by the body’s cells. It’s found in a variety of foods, including egg yolk, soy, sunflower, rapeseed, cottonseed, and more. Emulsifiers, lubricants, and surfactants are all properties of lecithin. Lecithin is a form of emulsifier made up of phospholipids made up of phosphoric acid, choline, glycerol, and other fatty acids that are widely used in the baking industry. The substance is used in commercial baking operations because it improves dough and batter workability. As a result, growth in the baking industry is expected to have a direct impact on lecithin demand over the projection period. Lecithin is commonly used for a variety of purposes, including smoothing food textures, softening powders, homogenizing liquid mixes, pushing back sticky material, and as a stabilizing ingredient. Furthermore, lecithin has been used to treat a variety of diseases, including Alzheimer’s and dementia. It is also utilized to treat eczema, liver illness, gallbladder disease, excessive cholesterol, depression, and anxiety, all of which are expected to drive the lecithin market forward throughout the forecast period.
Market Dynamics and Factors:
Because of the changing customer perspective on their eating habits, the packaged food industry has seen significant expansion. Changes in consumer lifestyles, such as longer working hours, an increase in the number of women in the workforce, and easy access to packaged food items in a variety of cuisines, have influenced this shift in choice. When processed meats such as ready-to-eat meals sausages, liver sausages, and salami are made, lecithin acts as an emulsifier.
Rising R&D achievements by manufacturers to achieve profitable production and higher product development may hasten the market statistics. Additionally, government regulations and protocols for phospholipids act as a critical role in food application in the European region and may boost the product demand. The global phospholipids business may exceed USD 4 billion by the end of the projected period. These are the compounds that are blended from a source such as lecithin which includes egg and soy and present various functional characteristics in pharmaceutical, nutrition & supplement application, which in turn foster lecithin industry growth.
Lecithin Market Report Highlight:
- By Source, During the predicted period, the soy category held the biggest market share. Soy is utilized as an emulsifier in a variety of commercial and industrial applications, including food, animal feed, personal care and cosmetics, and pharmaceuticals.
- By Application, the food and beverage segment is expected to hold the largest market share. Lecithin is used as an emulsifier, a viscosity reduction, a wetting agent, a crystallization control agent, and a release agent in food processing, among other things. Lecithin is also used in a wide range of industrial applications.
- By Form, the Granules segment is the most widely used form and is expected to grow the demand during the forecasted period.
- During the projection period, the North American region is expected to dominate the market. The regional market will develop as demand for cosmetics and disposable income rises, followed by a demand for skincare and haircare goods.
- The Asia Pacific lecithin market is expected to grow significantly during the projected period, led by nations such as South Korea, Japan, India, and China. Rising pharmaceutical R&D spending and the region’s growing trend toward generic medicine manufacture are likely to accelerate industry dynamics.
Major Key Players for Lecithin Market:
- Sun Nutrafoods (SNF)/Ago Solvent Products
- Cargill Incorporated
- Archer Daniels Midland (ADM)
- Avanti Polar Lipids
- American Natural Processors
- Danisco/DuPont Nutrition & Health
- Ruchi Soya
- VAV Life Sciences
- Sime Darby Unimills
- The Lecithin Company
- Gauri Agrotech Products
- Keshav Industries
- Bunge Argentina
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Key Industry Development:
In March 2021, Lecico announced a North American distribution partnership with Ciranda for lecithin and phospholipids, with a focus on clean-label food trends and local marketing and technical assistance.
In February 2021, For the European market, Sternchemie announced the release of soy lecithin dairy alternatives. In April 2021, the FDA granted the company a GRAS no objection letter for its section of sunflower-based lecithin.
Lecithin Market Segmentation:
- Egg Yolk
- Food & Beverages
- Pharmaceuticals & Nutraceuticals
- Personal Care & Cosmetics
For this report, Introspective Market Research has segmented the Lecithin Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Lecithin Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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