New York, US , Sept. 01, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Lecithin Market Information by Source, Applications, Form, and Region- Forecast till 2030”, the market is estimated to acquire a size of over USD 2.85 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 4.95% during the review timeframe.
Market Synopsis
Lecithin is a type of fat that is naturally amphiphilic and draws both water and fatty molecules. Lecithin can provide a wide range of health benefits when used in the recommended dosages stated on the packaging. Due to its emulsifying qualities, lecithin is very helpful in enhancing digestion. This characteristic aids in increasing the amount of mucus produced in the colon. Lecithin also helps the brain work better, making it more advantageous for dementia or Alzheimer's patients. Lecithin stands out among other goods and by-products produced during edible oils processing due to its versatility and a wide variety of uses. Plant lecithins are a crucial component of today's food, feed, cosmetics, and other products.
In the aquaculture sector, lecithin is a crucial nutrition and wetting agent. Even lecithin has industrial uses in the production of paint, leather goods, textiles, and pesticides. Due to the existence of price-sensitive buyers, lecithin manufacturers compete based on competitive pricing. In order to stand out from the competition, manufacturers strongly emphasize process innovation and the source of their low-cost raw materials. Additionally, as lecithin production expands and end-use sectors including food, beverage, feed, and pharmaceutical expand quickly, this tends to exceed the gap between supply and demand, leading to mild price increases anticipated during the forecast period.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 2.85 Billion |
| CAGR | 4.95% (2020–2030) |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Source, Applications, Form, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | increasing incidences of cardiovascular diseases |
| increasing awareness about the benefits of Lecithin |
Market Competitive Landscape:
The promising contenders in the lecithin market are:
- Archer Daniels Midland Company (US)
- Cargill Inc (US)
- Wilmar International (Singapore)
- Thew Arnott (UK)
- NOW Foods (US)
- Lecico Gmbh (Germany)
- Sternchemie Gmbh & Co. Kg (Germany)
- VAV Life Sciences Pvt Ltd (India)
- Swanson Health Products (US)
- Sodrugestvo Group S.A. (Luxembourg)
- DuPont de Nemours and Company (US)
- Lipoid GmbH (Germany)
- Bunge Limited (US)
- Lasenor Emul (Spain)
- American Lecithin Company (US)
Market U.S.P. Covered:
Market Drivers:
The demand for ready-to-eat foods is likely to increase, while dietary preferences for low-sugar, low-fat, and organic baked goods are predicted to change. Additionally, the industry's expansion is probably driven by the rise in economic standards, accompanied by technological advancements, new online retail shopping trends, and food services. In the upcoming years, the lecithin market is expected to expand due to factors like the rising popularity of lecithin in the pharmaceutical industry and the health advantages of lecithin consumption.
It is mostly employed in producing dairy goods, ice cream, nutritional supplements, newborn formulae, bread, margarine, and other ready-to-eat meals. However, it is anticipated that during the projected period, demand will decline due to growing worries about rising cholesterol levels and the allergenic qualities of soybean.
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Market Restraints:
The fluctuation of the raw materials may make it difficult for the major players to set their budgets for upcoming plans. Additionally, strict government controls are in force in some areas, which gives the products a non-uniform quality and compliance. However, the growth of the worldwide lecithin market over the anticipated period may be constrained by religious restrictions on lecithin usage and fluctuating prices of the raw materials required in its manufacturing.
COVID 19 Analysis
Directly influencing supply and demand and disrupting the market and supply chain, the COVID-19 pandemic has disastrously affected the lecithin business. However, the Food and Drug Administration (FDA) has loosened the COVID-19 labeling rules for a select component, including soy lecithin. The FDA excluded soy lecithin from the list of allergies since it was never required to be labeled as an allergen. Despite ongoing COVID-19 restrictions, such regulatory body measures have made it possible to rebalance the lecithin sector.
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Market Segmentation
By Source the market is segmented into egg, soy, sunflower, and others.
By Application, the market is segmented into personal care & cosmetics, pharmaceuticals & nutraceuticals, food & beverages
By Form, the market is segmented into granules, powder, and liquid.
Regional Insights
Due to rising public awareness of the advantages of naturally sourced ingredients and rising lecithin demand from the personal care and cosmetics industries, the North American regional market is anticipated to dominate the lecithin market during the projected period. Due to the region's growing number of health-conscious residents focused on including nutritive and healthy food items and ingredients in their normal food, the region is anticipated to experience the quickest growth. The population of America and Europe is anticipated to have more disposable income in the upcoming years, which will fuel the lecithin market's expansion. Consumers in the European region overwhelmingly favor sunflower seed lecithin over soured soybean when it comes to this component.
Due to the rising demand for lecithin in supplement form among the region's young population and the rising lecithin demand from the food sector, the Asia-Pacific lecithin market is also predicted to have the highest CAGR throughout the projected period. Due to the increased awareness in nations like South America, a consistent growth rate has also been predicted for the rest of the world. The Asia-Pacific region is anticipated to have considerable expansion in the global lecithin market over the forecast period due to increased efforts in lecithin research and development for its wider use in pharmaceutical applications. It is anticipated that rising healthcare and nutrition costs in Asia, particularly in China, South Korea, India, and Japan, will fuel the expansion of the lecithin market in the APAC region.
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