Chicago, March 17, 2023 (GLOBE NEWSWIRE) -- According to MarketsandMarkets™, The global lecithin and phospholipids market is estimated to be valued at USD 5.5 billion in 2022. It is projected to reach USD 7.5 billion by 2027, recording a CAGR of 6.3% during the forecast period in terms of value. It is driven by the increasing awareness of the benefits of using natural emulsifiers encourages manufacturers to adopt lecithin due to its multifunctional abilities. It is a versatile and multifunctional ingredient for food formulators. It can be used as an emulsifier, release agent, and instantizing agent. It is the most popular emulsifier used in the food industry. It is used as an emulsifier in bakery products to ensure even blending and increase moisture retention.
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The recent upward trend has been witnessed for the demand for low-fat foods, which is eventually driving the lecithin & phospholipids market growth. This is mainly because of the deskbound lifestyles in developed countries and the important role of low-fat foods in having a healthy diet. The demand for healthy food is very high in Europe and the US, owing to consumer awareness, hence projecting the market growth.
The US is expected to lead the lecithin market, as the food & beverage industries in these countries are the largest; product innovation is one of the key factors presenting growth opportunities to market players in the US. The increasing demand for high-protein food products from health-conscious consumers has encouraged manufacturers to offer a wide range of products, resulting in overall consumption growth. The US is one of the key markets for lecithin. The increased demand for feed additives in the country is attributed to the trend of precision nutrition in the feed industry. Consumers who include animal-based products, such as dairy products, eggs, and meat in their diet, are increasingly conscious of the quality of the products available in the market. This, in turn, drives the demand for high-quality feed, including natural and organic feed such as lecithin.
Based on type, the de-oiled lecithin segment is projected to dominate the lecithin & phospholipids market in the forecasted period. The growth of the global de-oiled lecithin industry is driven by factors such as an increase in demand for green and organic food products globally and growth in trends among consumers involving weight loss and calorie concern in developed countries, owing to rise in the working population in the developing nations and increase in demand for convenience food with nutritional benefits.
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Among various types of sources, soy source dominated the lecithin & phospholipids market. Rise in concern among consumers regarding natural and organic food ingredients is encouraging the consumers to shift toward clean label products. The soybean lecithin is more preferred over others due to its easy availability and growth in the number of health-conscious consumers.
The lecithin & phospholipids market is constantly growing in the healthcare segment. Lecithin contains valuable phospholipids that play an active role in metabolic activity. Hence, an increasing number of health-conscious consumers are opting for lecithin-enriched products. It is advantageous to both manufacturers and consumers, as these are available in capsules, powders, and granulates. Sunflower lecithin is expected to be a suitable alternative to soy lecithin in dietary supplements and pharmaceutical applications due to allergen issues associated with soy.
The growing demand for natural and clean-label ingredients in food and beverages is driving the market growth. Moreover, the increasing demand for functional ingredients in the pharmaceutical and cosmetic industries is also contributing to the market growth. However, the availability of alternatives to Lecithin and Phospholipids, such as synthetic emulsifiers, may hinder the market growth.
The market is highly competitive, with several players operating in the global market. In conclusion, the Lecithin and Phospholipids market is expected to grow in the coming future, driven by the demand for natural and functional ingredients in various industries. However, the market growth may face challenges due to the availability of alternatives to Lecithin and Phospholipids.
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