Some of the major players operating in the Lecithin industry are Archer Daniels Midland (ADM), Cargill, International Flavors & Fragrances (IFF), Bunge Limited, GIIAVA, Ruchi Soya, and Wilmar International. Other notable companies include Lipoid GmbH, American Lecithin Company (ALC), Thew Arnott & Co. Ltd., Sternchemie Gmbh & Co.KG, Sodrugestvo, DowDuPont, LEKITHOS, LECICO, and SOYA International.
Selbyville, Delaware, Aug. 08, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Lecithin Market size was estimated at USD 2 Billion in 2021 and is expected to surpass USD 3.4 billion by 2030 and is expected to grow over a CAGR of 5.5% from 2022 to 2030. The research report provides a detailed analysis of top winning strategies, competitive scenario, wavering market trends, drivers & opportunities, market size & estimations, and major investment pockets.
Increasing consumption of bakery products owing to changing consumer dietary habits will drive the lecithin market growth.
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Some major findings of the lecithin market report include:
Increasing utilization of soy lecithin in pharmaceutical applications owing to the presence of phosphatidylcholine, a primary form of choline, which plays an important role in liver function, muscle movement, metabolism, and brain development is expected to positively impact the market growth.
High consumption of food & beverage such as bakery products, ready-to-eat foods, packaged foods, and functional beverages owing to growing population and rising disposable incomes is fostering lecithin demand.
Increasing demand for high-quality end products such as meat, milk, eggs, leather & wool coupled with stringent regulations in the farming industry towards animal health and hygiene will boost lecithin consumption in animal feed application.
Soy is expected to be the prominent source of the lecithin market with revenue size of over USD 1.4 billion in 2021 and expected to register a CAGR of more than 5.5% during the forecasted timeframe. Soy lecithin owing to its nutrition-rich content such as choline, iodine, calcium, sulfur, and vitamin E is used in varied applications across different end-use industries.
Sunflower is the fastest growing source of the lecithin industry during the projected timeframe with a CAGR of over 6%. Rising consumer proclivity towards high-quality products, changing dietary patterns, and easy availability of sunflower-based lecithin products may augment market share.
Soy-based lecithin market demand exceeded USD 1.4 billion in 2021. Soy lecithin product is majorly used as an emulsifier in various industrial applications such as food, animal feed, cosmetics, and pharmaceutical. Soy lecithin helps to modify viscosity and acts as a dispersant. It also extends shelf life and stabilizes the product, aiding in consistent blending by mixing and forming an excellent emulsion in water and oil formulations. The higher solubility of lecithin in water makes it suitable in animal feed as it provides faster & better digestion, providing higher nutrients. The addition of lecithin in animal feed promotes skin quality, feed utilization, growth rates, and shiny coats thus driving its demand in the global market. It is also known to be a consistent source of highly bioavailable phospholipids to various shellfish, lobsters, krill, and fishes.
GMO soy lecithin market size from pharmaceutical applications may register over 5% CAGR over the forecasted timeframe. Lecithin products are used in the treatment of hypercholesterolemia to reduce cholesterol levels by 18%. It is also used to change the lipid metabolism and to improve neurological disorders resulting in enhanced memory, thereby increasing the product demand.
Canola-based lecithin market is set to witness a CAGR of around 5% through 2030. Increasing demand for natural products & changing consumer perceptions towards natural food additives may trigger the demand for canola lecithin. The rising prevalence of obesity & cardiovascular diseases owing to changing dietary patterns & sedentary lifestyles is making consumers switch towards canola products owing to its high concentration of healthy fats, omega 3, and omega 6.
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Europe lecithin market demand driven by Germany, UK, France, and Spain is expected to surpass USD 800 million by 2030. The rising demand for baked goods including bread, pastries, cakes, and doughnuts is the major factor to support lecithin industry growth in the region. High consumer inclination towards products with less cooking time and ease of consumption has majorly supported the ongoing trend for ready-to-eat food products in the region which eventually boosted the demand for lecithin products in the European market.
The lecithin industry share is consolidated with the presence of a few global firms. Some of the key players in the market include Archer Daniels Midland (ADM), Cargill, International Flavors & Fragrances (IFF), Bunge Limited, GIIAVA, Ruchi Soya, and Wilmar International. Other notable companies include Lipoid GmbH, American Lecithin Company (ALC), Thew Arnott & Co. Ltd., Sternchemie Gmbh & Co.KG, Sodrugestvo, DowDuPont, LEKITHOS, LECICO, and SOYA International. Key players are anticipated to invest in new product launches, joint ventures, acquisitions, and expansion to gain a competitive advantage as well as enhancement of the consumer base.
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