Rise in demand for naturally sourced ingredients and rise in demand from pharmaceutical and cosmetics industries for phospholipids drive the growth of the global phospholipid market. Based on region, the market across Asia-Pacific held the highest market share in 2020, and is expected to maintain its dominance throughout the forecast period.
Portland, OR , Sept. 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global phospholipid market garnered $2.84 billion in 2020, and is estimated to reach $5.64 billion by 2030, witnessing a CAGR of 7.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.
Surge in demand for naturally sourced ingredients and rise in demand from pharmaceutical and cosmetics industries for phospholipids drive the growth of the global phospholipid market. However, genetically modified foods hinder the market growth. On the other hand, growth in demand for alternate sources of phospholipid and label-friendly products create new opportunities in the coming years.
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The food and beverages industry has been through a high demand in the lockdown period.
Most supermarkets and other stores were closed and manufacturers faced problems such as lack of resources and labor availability, thereby impacting the scale of production.
All these factors indirectly affected the demand for the phospholipid market.
The report offers detailed segmentation of the global phospholipid market based on source, form, application, and region.
Based on consumer source, the soy segment accounted for the largest share in 2020, contributing to nearly than half of the total share, and is estimated to maintain its lead position during the forecast period. On the other hand, the other segment including sunflower and krill phospholipid is expected to manifest the largest CAGR of 7.6% from 2021 to 2030.
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Based on form, the powder segment held the highest market share, contributing to more than two-third of the global phospholipid market in 2020, and is projected to continue its leadership status throughout the forecast period. However, the granule segment is expected to witness the highest CAGR of 8.0% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the largest share in 2020, accounting for nearly two-fifths of the total market, and is estimated to continue its dominance in terms of revenue by 2030. However, LAMEA is expected to portray the fastest CAGR of 9.0% during the forecast period. Other provinces studied in the report include Europe and North America.
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Leading players of the global phospholipid market analyzed in the research include The key players profiled in the report include Archer Daniels Midland Company, Bunge Ltd, Cargill, Incorporated, DuPont de Nemours, Inc, Kewpie Corporation, Lasenor Emul SL, Lipoid GmbH, SojaProtein a.d, VAV Life Sciences Pvt. Ltd, and Wilmar International Ltd.
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