Newark, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The report published by The Brainy Insights shows that the global lecithin market is expected to grow from USD 550.2 million in 2021 to USD 1090.7 million by 2030, at a CAGR of 7.9% during the forecast period 2022-2030.
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Lecithin is an amphiphilic fat group that attracts water and fatty substances. When lecithin is consumed in the correct quantity, it can give several health benefits to consumers. It is widely used in digestion as it consists of emulsifying properties. This property enhances mucus production in the intestine. Moreover, it is also helpful for people with dementia and Alzheimer's disease by improving the function of the brain. Apart from this, it also helps control cholesterol levels by lowering the low-density lipoprotein (LDL). Lecithin has hydrating and moisturizing properties, which are highly helpful in manufacturing skincare products. These properties of lecithin are also beneficial in repairing inflamed skin and reducing the flaking of the skin. The emulsifying properties of lecithin are helpful for the food industry in mixing various food ingredients, which propels the market's growth.
Competitive Landscape:
To enhance their market position in the global lecithin market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In February 2020, Crystal Diagnostics announced that the U.S. patent and the trademark office issued the company a second patent related to proprietary liquid crystal Form for rapid and accurate detection of food-borne pathogens.
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Market growth and trends:
The increasing advantages of lecithin are expected to drive the market's growth. It is widely used as a digestive enzyme and is also helpful in improving brain functioning. The increasing demand for lecithin in skincare and personal care products owing to its moisturizing and hydrating properties, propels the market's growth. However, the fluctuating prices of raw materials used to produce lecithin hinder the market's growth over the forecast period. However, the outbreak of the Covid-19 pandemic affected the food and beverages industry as several manufacturing units were temporarily put on hold to stop the spread of the disease. Stringent government regulations regarding the use of lecithin in food products, coupled with religious constraints, are expected to challenge the market's growth over the forecast period.
Key Findings
● In 2021, the soy segment dominated the market with the largest market share of 26% and market revenue of 143.0 million.
The source segment is divided into soy, sunflower, rapeseed, egg, and others. In 2021, the soy segment dominated the market with the largest market share of 26% and market revenue of 143.0 million. Soy lecithin extraction is a cheap method that increases its demand.
● In 2021, the animal feed segment accounted for the largest share of the market, with 23% and a market revenue of 126.5 million.
The end-user segment is divided into convenience food, bakery, confectionary, pharmaceutical, personal care and cosmetics, animal feed, and others. In 2021, the animal feed segment accounted for the largest share of the market, with 23% and a market revenue of 126.5 million. The animal feed segment has been increasing owing to the increasing consumption of meat and poultry products due to the presence of high proteins in them.
● In 2021, the liquid lecithin segment accounted for the largest market share, with 46% and a market revenue of 253.0 million.
The form segment is divided into liquid, powder, and granule. In 2021, the liquid lecithin segment accounted for the largest share of the market, with 46% and a market revenue of 253.0 million. The segment has been growing owing to the increasing demand for liquid lecithin from various industries, such as food processing, cosmetics, industrial coatings, and confectionaries.
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Regional Segment Analysis of the Lecithin Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Europe emerged as the largest market for the global lecithin market, with a market share of around 39% and 214.5 million of the market revenue in 2021. The lecithin market in the region has been growing owing to the presence of ample amount of raw materials coupled with the presence of prominent market players in the region. The increasing economic development and growth in the region's food processing industry add impetus to the market's growth. Furthermore, the growing globalization and development in the food and beverages sector contribute to the growth of the lecithin market in the region.
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Key players operating in the global lecithin market are:
● American Lecithin Company
● Global River Food Ingredients
● Stern-Wywiol Gruppe GmbH & Co. KG
● Haneil Soyatech Pvt. Ltd.
● AKK Soya International
● Imcopo Food Ingredients B.V.
● Sime Darby Unimills B.V.
● Wilmar International Ltd.
● Tianjin Hexiyuan Lecithin Form Co., Ltd.
● Orison Chemicals Limited
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global lecithin market based on the below-mentioned segments:
Global Lecithin Market by Source:
● Soy
● Sunflower
● Rapeseed
● Eggs
● Others
Global Lecithin Market by End-use:
● Convenience Food
● Bakery
● Confectionary
● Pharmaceutical
● Personal Care And Cosmetics
● Animal Feed
● Others
Global Lecithin Market by Form:
● Liquid
● Powder
● Granules
About the report:
The global lecithin market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product Type analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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