NEWARK, Del, May 15, 2023 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), by the end of 2023, the value of the lecithin market is projected to reach US$ 1,682.4 Million. A significant CAGR of 7.0% is anticipated between 2023 and 2033. It is expected to positively impact the market in 2033, with a valuation of US$ 3,118.5 Million.
Two dominant drivers of the global market are the growing demand for green & naturally derived ingredients and increasing awareness about a healthy lifestyle.
The lecithin industry is further pushed by the rising consumption of convenience foods and functional foods & beverages. Sales are also set to be propelled by rising demand for organic food products.
With consumers looking for food options promoting weight loss and addressing calorie concerns, the lecithin industry is expected to gain considerable impetus in developed countries.
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Functional and natural ingredients in food & beverage products offer a nutritional dimension that helps maintain a balanced lifestyle. It is anticipated to augment lecithin demand in the next ten years.
Lecithin is used in numerous food products such as confectionery, chocolate, dairy products, and salad dressing. It is found in ready-to-eat food items owing to its ability to act as an emulsification agent.
Emulsifier agents aid in binding oil & water together and keep fat separate. Lecithin is hence used in various creamy foods which have high oil content. For example, it keeps a chocolate bar held together by retaining the cocoa butter and cocoa solids attached to each other.
Lecithin is also used to add moisture, preserve foods, and provide products with a long shelf life. Versatile use of lecithin in the food industry is anticipated to accelerate its demand by 2033.
Key Takeaways:
- The global demand for lecithin expanded at a CAGR of 5.6% in the historical period from 2018 to 2022.
- The United States lecithin industry is estimated to cross a valuation of US$ 795.0 Million by 2033.
- India lecithin industry is anticipated to showcase a CAGR of 10.2% in the next ten years.
- The unrefined lecithin segment by product type is likely to reach a valuation of US$ 1,843.3 Million in 2033.
- By form, the powder segment is expected to surpass a market valuation of US$ 2,221.5 Million in 2033.
“Customers from several industries are increasingly demanding lecithin made from natural sources as they become more aware of numerous uses for the substance. Given the abundance of available raw materials, firms are concentrating on exploiting a variety of resources to diversify their product lines,” – says a lead analyst at Future Market Insights (FMI).
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Competitive Landscape:
Marketing & branding efforts are important strategies for lecithin manufacturers to differentiate their products from competitors and create a strong brand identity. It could involve promoting the health benefits of lecithin, highlighting its role as a natural ingredient, or targeting specific customer segments with tailored messaging.
Manufacturers might also focus on expanding their product lines or entering new markets to drive growth. It could involve developing new lecithin-based products such as functional foods or supplements, or entering niche geographic markets where there is high demand for lecithin.
Key Companies Profiled are Archer Daniels Midland Company, Caldic Canada Inc., Cargill, Inc., Haneil Soyatech Pvt Ltd., GIIAVA (India) Pvt Ltd., Bunge Limited, Lipoid GmbH, Foodchem International Corporation, Orison Chemicals Limited, Sodrugestvo Group S.A., Lecico GmbH, DuPont, Inc.
For instance,
- AAK began offering Akolec in February 2021, which is a range of plant-based lecithin emulsifiers produced from soybean and sunflower oils. These emulsifiers are designed to improve the processing, functionality, and nutritional value of various food & beverage products such as baked goods, confectionery items, and sweetened drinks.
Get More Valuable Insights:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global lecithin industry presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the global lecithin industry based on product type (refined lecithin, unrefined lecithin, chemically modified lecithin), nature (GMO, non-GMO), form (granules, powder, liquid), function (emulsifier, dispersing agent, surfactants), application (bakery & confectionery, dairy products, infant & dietetic food products, meat & poultry items, instant foods, other processed foods, dietary supplements & pharmaceuticals, cosmetics, animal feed), and region.
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Market Outlook by Category:
By Product Type:
- Refined Lecithin
- Chemically Modified Lecithin
- Unrefined Lecithin
- Soybean Lecithin
- Sunflower Lecithin
- Rapeseed Lecithin
- Others (Corn Lecithin)
By Nature:
- Genetically Modified (GMO)
- Non-GMO
By Form:
- Powder
- Granules
- Liquid
By Function:
- Emulsifier
- Dispersing Agent
- Surfactants
- Others
By Application:
- Bakery & Confectionery
- Infant & Dietetic Food Products
- Dairy Products
- Meat & Poultry Items
- Other Processed Foods
- Instant Foods
- Dietary Supplements & Pharmaceuticals
- Animal Feed
- Cosmetics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Table of Content (ToC):
1. Executive Summary | Lecithin Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition
3. Market Dynamics
3.1. Drivers
3.1.1. Supply Side Drivers
3.1.2. Demand Side drivers
3.1.3. Economic Side Drivers
4. Value Chain Analysis
4.1. Operating margins at each node of the supply chain
4.2. List of Active Market Participants
5. Global - Pricing Analysis
5.1. Price Point Assessment by Region
5.1.1. Manufacturer-Level Pricing
5.1.2. Distributor Level Pricing
5.2. Price Point Assessment By Product
5.3. Price Forecast till 2033
About the Food & Beverage Division at Future Market Insights (FMI):
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 Million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
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Beverage Flavoring Agent Market Share: The beverage flavoring agent market is valued at US$ 4.5 Billion in 2022 and is projected to grow at a CAGR of 5.7% during the forecast period, to reach a value of US$ 7.8 Billion by 2032.
Industrial Plant Derived Chelating Agent Market Value: According to Future Market Insights research, during the projected period, the Global Industrial Plant Derived Chelating Agent is expected to grow at a CAGR of 4.6%.
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