Press Release

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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