Lecithin Market to Grow with a CAGR of 8.05% through 2028
Diverse
applications, clean-label preferences, and the rise of vegan diets is expected
to drive the Global Lecithin Market growth in the forecast period, 2024-2028.
According to
TechSci Research report, “Lecithin Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Lecithin
Market stood at USD 553.23 million in 2022 and is anticipated to grow with a
CAGR of 6.51% in the forecast period, 2024-2028. This can be attributed to global
market reach. The global lecithin market has a broad reach, with key markets in
North America, Europe, and Asia-Pacific. Emerging economies in Asia, in
particular, have witnessed significant growth in demand for lecithin due to
changing consumer lifestyles, urbanization, and increasing disposable incomes.
The global nature of the market ensures that it remains resilient, even in the
face of regional economic fluctuations.
Moreover, as
consumer preferences diversify, there is a growing demand for customized
lecithin solutions that meet specific formulation and application requirements.
Manufacturers are offering tailored lecithin products to cater to the unique
needs of their customers, providing solutions for various industries, including
food, pharmaceuticals, cosmetics, and industrial applications.
Lecithin
manufacturers are engaged in fierce competition driven by price sensitivity
among buyers. To gain a competitive advantage in the market, manufacturers are
placing emphasis on process innovation and sourcing low-cost raw materials.
Additionally, the rapid growth of end-use industries such as food, beverage,
feed, and pharmaceuticals, coupled with increased lecithin production, is
helping to bridge the gap between supply and demand, and this is expected to
moderate price increases during the forecast period.
Phospholipids,
including lecithin, play a crucial role as components of cell membranes,
regulating various cellular activities such as protein synthesis and cell
movement within the body. Lecithin and other phospholipids are widely adopted
in the food and beverage, dietary supplement, and cosmetic industries as
emulsifiers. They are also gaining popularity as natural antioxidants to combat
lipid oxidation.
In the
pharmaceutical sector, lecithin sourced from plant origins is predominantly
used. It finds applications in various pharmaceutical processes, including
liquid and solid dosage forms, as well as liposomal applications. Its versatile
utility as a revitalizing agent, emulsifier, dispersant, wetting agent (in
powder and tablet forms), and mold release agent makes it indispensable.
Lecithin also plays a role in slowing down fat crystallization, aiding in skin
penetration, enhancing bioavailability, and protecting active ingredients.
Changing
consumer preferences, particularly a preference for non-GMO and hypoallergenic
food products, have prompted lecithin manufacturers to enhance their product
offerings by introducing new products. For instance, in 2018, Cargill
Incorporated, a significant player in the lecithin market, launched a
completely new portfolio of defatted lecithin products. Industry participants
are also focused on elevating the overall quality of their products.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Lecithin Market.”
The Global Lecithin
Market is segmented into source, end-use, form, regional distribution, and
company.
Based on its form,
the liquid form of lecithin claimed the top spot in the lecithin market in
2022, securing the largest share of revenue. This notable achievement can be
attributed to a significant surge in demand for the liquid form across various
end-use industries, including industrial coatings, cosmetics, food processing,
and confectionery production. Liquid lecithin is not only utilized in various
food products as either a natural component or a food additive but also finds
use as a dietary supplement. In the realm of dietary supplements, liquid
lecithin typically comprises a mixture of choline, inositol,
phosphatidylcholine, phosphatide, and other compounds, rather than being solely
phosphatidylcholine. Furthermore, the liquid form is known for its effortless
dispersion in oil when compared to other forms of lecithin.
Lecithin powder,
on the other hand, serves as a valuable ingredient in numerous industries,
including feed, food and beverage, cosmetics, and pharmaceuticals, among
others. This powdered form is commonly featured in bakery and confectionery
products, and it is often added to cooking sprays to prevent baked goods from
sticking to pans. Notably, lecithin powder possesses the unique ability to bind
both non-lipid and lipid ingredients, effectively keeping water and oil-based
components together. Due to this property, many prominent manufacturers prefer
using lecithin powder in food products such as butter and candy over its liquid
counterpart.
Based on region,
Europe took the lead in the lecithin market in 2022, claiming the highest share
of revenue. This can be attributed to the significant presence of lecithin
producers in the region. Additionally, the availability of abundant raw
materials and the increasing health consciousness among consumers in Europe have
been key drivers of demand.
Meanwhile, the
North American region has seen demand driven by the presence of crucial
end-users and the ready availability of raw materials. The presence of
extensive soybean fields in the United States and canola fields in Canada has
fueled market growth in this area. Soybeans are a major source for lecithin
production, and the combination of large-scale soybean cultivation and a
growing number of small-scale crushing facilities has boosted soybean
production in North America.
In Asia-Pacific,
a significant regional market has emerged, thanks to rising demand from
populous countries like India and China, which are experiencing rapid
population growth and changing demographic trends. The presence of vast
expanses of land suitable for oilseed cultivation is expected to further
stimulate market growth in this region. The increasing number of small-scale
food producers is anticipated to drive demand for lecithin in various
application segments such as convenience foods, bakery products, and
confectionery. The rapid introduction of new products in these application
segments is expected to further bolster demand in the food and beverage
industry.
Major companies
operating in Global Lecithin Market are:
- Cargill Inc
- Archer-Daniels-Midland
Co
- Lipoid GmbH
- Bunge Limited
- American
Lecithin Company
- Global River
Food Ingredients
- DuPont de
Nemours Inc
- Stern-Wywiol
Gruppe GmbH & Co KG
- Haneil Soyatech
Pvt. Ltd.
- NOW Foods
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“The global
lecithin market is on the cusp of transformative changes, driven by a
combination of evolving consumer preferences and technological innovations. The
shift towards plant-based, clean-label, and sustainable options, coupled with
the versatile functional properties of lecithin, is opening up new
opportunities for growth and innovation within the industry. Industry players
that embrace these emerging trends and adapt to meet the evolving demands of
consumers are likely to thrive in this dynamic and promising market,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Lecithin Market By Source (Soy,
Sunflower, Rapeseed, Others), By End-use (Convenience Food, Bakery,
Confectionary, Pharmaceutical, Personal Care and Cosmetics, Animal Feed,
Others), By Form (Liquid, powder, Granules), By Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Lecithin Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Lecithin Market.
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