Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Global Lecithin Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
Global lecithin market attained a value of USD 825.05 million in 2022. Aided by the growing food and beverage industry, the market is projected to further grow at a CAGR of 6.8% between 2023 and 2028 to reach a value of USD 1042.42 million by 2028.
Lecithin is a group of phospholipids that is found in both animal and plant tissues and is considered essential for proper biological functioning of the body. It is also used to treat diseases such as Alzheimer and dementia, and gallbladder conditions, among others. It is widely used in food industry due to its viscous nature, both in liquid as well as semi-liquid products. Moreover, it also finds its application in personal care items and other industries such as pharmaceuticals and cosmetics, among others.
In the food industry, lecithin is gaining popularity owing to the health benefits associated with it, such as improving the health of the heart, enhancing digestion, lowering cholesterol, helping fight dementia, and reducing other health risks and complications.
Milk duct clogging is a common issue that is faced by breast feeding women and can be prevented by the intake of lecithin supplements. Properties of lecithin such as flavour protector, emulsifier, and antioxidant have further enhanced their use in food preparation, cosmetics, and pharmaceuticals, driving the growth of the lecithin market.
Rising prevalence of allergies is increasing the demand for hypoallergenic foods, thereby helping in the growth of the global lecithin market. Lecithin is commonly used to improve the taste and quality of hypoallergenic foods, helping attract more consumers towards hypoallergenic food products.
Furthermore, lecithin is known as a minimally processed and natural ingredient due to which it meets the increasing preference for clean label products by consumers from all across the globe. Lecithin is found in various forms such as liquid, powder, and granules, and used in powdered form to manufacture candy, butter, and other similar products, rather than in liquid form.
Lecithin that is obtained from plants is commonly used for pharmaceutical applications. It acts as an emulsifier, wetting agent, revitalising agent, mould release agent, and dispersant in various medicines and thereafter offer several benefits such as increasing bioavailability and skin penetration of medications, which is further supporting the growth of the lecithin market.
Competitive Landscape
This report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the lecithin companies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $751.33 Million |
| Forecasted Market Value (USD) by 2028 | $1042.42 Million |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
Some of the major key players explored
- Archer Daniels Midland Company
- Bunge Limited
- Cargill, Incorporated
- Caldic B.V
- Lecithin GmbH
- Lecilite Ingredients Pvt Ltd
- Lipoid GmbH
- Sternchemie GmbH & Co. KG
Market Segmentation
Market Breakup by Source
- Soy
- Sunflower
- Rapeseed
- Others
Market Segmentation by Form
- Liquid
- Powder
- Granules
Market Segmentation by End Use
- Food and Beverages
- Animal Feed
- Pharmaceuticals
- Personal Care and Cosmetics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/85b6mi
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