NEW YORK, April 16, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, The global lecithin market was valued at USD 1.09 billion in 2019 and is projected to reach USD 1.80 billion by 2027, at a CAGR of 6.5% during the forecast period. The global phospholipids market was valued at USD 3.06 billion in 2019 and is projected to reach USD 5.08 billion by 2027, at a CAGR of 6.9% during the forecast period. The Phospholipid and Lecithin market is growing due to their sources being easily obtained in the environment and due to the various end-use purposes that these ingredients have in multiple industries. Demand for naturally derived food supplements and nutraceuticals is expected to boost market growth. Determinants like the lack of awareness and also the higher cost of some varieties of the phospholipid and lecithin are restraining the expansion of this market.
The APAC region accounted for the maximum share of the phospholipids market. Differences in consumer preference toward natural components have increased the demand for phospholipid products. In the APAC segment, an increase within the young population and increasing awareness about health have prompted consumers to go for healthier alternatives like food supplements. Moreover, increased demand for bakery items like cakes, pastries, and cookies will drive the demand for lecithin within the region Based on the source, the soy segment is forecasted to cover the maximum market.
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The easier extraction method of soy-derived ingredients compared to sunflower or egg-derived ingredients, coupled with the wide availability of soy in many countries, are the major factors supporting the dominant nature of soy-sourced lecithin. However, there has been a shift in the demand from soy to alternate sources of lecithin, such as sunflower and rapeseed, owing to GMO concerns over soy lecithin. The sunflower category in the lecithin market is forecasted to have a healthy CAGR during the forecast period while in the phospholipids market, the egg market is projected to grow at the highest CAGR during the forecast years. GMO issues are the major factor restraining the growth of the lecithin market, globally. Allergy issues associated with soy is a major challenge faced by consumers, influencing the growth of the lecithin market.
Due to the rising demand for the green and naturally sourced ingredient and rising consumer awareness towards a healthy lifestyle, growth in consumption of convenience foods, functional food and beverages, and the fluctuating price of the raw materials, lecithin is also seeing increased usage as a food additive. In December 2017, Merck signed a Distribution Agreement with Avanti Polar Lipids. Avanti Polar Lipids is a leading producer and supplier of the highest purity lipids for research and pharmaceutical product development. Through this agreement, customers outside of the US will have improved on-demand access to the Avanti research lipid portfolio through the life science business of Merck’s robust e-commerce platform. Products will be stocked globally for enhanced availability to customers. Merck is a leading science, and technology will be an exclusive multinational distributor of the USA-based company. Under the terms of the contract, Merck will employ its sales, marketing, and e-commerce expertise to distribute Avanti Polar Lipids research lipid portfolio.
In the phospholipids market, growing demand for nutraceuticals for major illnesses and the aging population is expected to create opportunities for manufacturers and the end-use industries to expand in this region. Japan and South Korea are projected to be the fastest-growing markets for phospholipids. India is also has a significant market for phospholipids, with a significant adoption rate for phospholipids-based nutritional and health supplements.
Companies considered and profiled in the market study
The market is dominated by key players such as Cargill (US), ADM (US), Stern-Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US). Other companies include Lipoid (Germany), Wilmar International (Singapore), Sonic Biochem Extractions (India), Avanti Lipids Polar (US), Lecico (Germany), VAV Life Sciences (India), Sodrugestvo (Luxembourg), Kewpie (Japan), Sojaprotein (Serbia), American Lecithin Company (US), Sime Darby Unimills, Lecital (Austria), and Lasenor Emul (Spain).
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented Lecithin and Phospholipids market on the basis of application, source, type and region:
Based on source, the lecithin market has been segmented as follows:
- Soy
- Sunflower
- Rapeseed
- Egg
- Others (corn and krill)
Based on type, the lecithin market has been segmented as follows:
- Fluid
- De-oiled
- Modified
Based on application, the lecithin market has been segmented as follows:
- Feed
- Food
- Baked goods
- Confectionery products
- Convenience food
- Others (dairy, meat & fish, snacks, spreads & margarines, soups, gravies, and sauces)
- Industrial
- Health care
Based on source, the phospholipids market has been segmented as follows:
- Soy
- Egg
- Others (milk and krill)
Based on application, the phospholipids market has been segmented as follows:
- Nutrition & supplements
- Pharmaceuticals
- Others (personal care products and cosmeceuticals)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/lecithin-and-phospholipids-market
Regional Outlook (Volume Metric Tons, Revenue, USD Million; 2019-2026)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
- Rest of Latin America
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