NEW YORK, United States, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Soy Lecithin Market By Application (Nutritional Supplements, Food & Beverages, Animal Feed, And Others), By Form (Solid, And Liquid), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.
“According to the latest research study, the global soy lecithin market size was valued at around USD 2.1 billion in 2021. The market is expected to grow above a CAGR of 5.56% and is anticipated to reach over USD 3.45 billion by 2028.”
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Soy Lecithin Market Overview:
Soy lecithin refers to a mixture of oils derived from soybean, phospholipids, phosphatidylcholine, and glycolipids. Even though lecithin naturally occurs in soybeans but for commercial purposes, they are extracted with the aid of chemical solvents. Some major concerns related to soy lecithin arise in people who are soy allergic. Eating tofu or drinking soy milk is not the same as consuming soy lecithin in supplements or chocolates. As per a report influenced by the Food and Allergy Research and Resource Program, soy lecithin contains trace amounts of soy proteins which include soy allergens. But soy lecithin lacks sufficient amounts of the same and hence does not trigger any allergic reactions in most cases. Many medical personnel do not ask allergic patients to avoid soy lecithin intake.
One of the major benefits of incorporating soy lecithin in diets involves lowered cholesterol levels. As per scholars, soy lecithin can help raise high-density lipoprotein (good) cholesterol and reduce low-density lipoprotein (LDL). Another significant benefit of regular consumption of soy lecithin is the improvement in heat health. This is especially considered in the case of patients at high risk of blood pressure or other heart conditions. For instance, since soy cannot be digested easily, the body takes longer to break the associated proteins making a person feel full for a longer duration. Soy lecithin can contribute significantly to breastfeeding mothers.
As per recommendations by the Canadian Breastfeeding Foundation, breastfeeding mothers are instructed to take at least 1200 milligrams of lecithin, four times a day to prevent recurrent plugged ducts. Lecithin may also help fight dementia since it contains chlorine which helps the brain to communicate. Soy lecithin is gaining popularity amongst cosmetics brands because they are great smoothing and moisturizing agent for the skin.
Key Insights from Primary Research
- As per the analysis, the soy lecithin market share is likely to grow above a CAGR of around 5.56% between 2022 and 2028.
- The soy lecithin market size was worth around USD 2.1 billion in 2021 and is estimated to hit approximately USD 3.45 billion by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on form segmentation, the liquid was predicted to show maximum market share in the year 2021
- Based on application segmentation, Food & Beverages had the leading revenue-generating applications in 2021.
- On the basis of region, North America was the leading revenue generator in 2021
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Soy Lecithin Market: Growth Drivers
- Increasing application of soy lecithin to drive market growth
The global soy lecithin market is expected to gain momentum during the projection period owing to the rise in the production of soybean, the most important raw material required to produce soy lecithin. Since the raw material is so readily available, it makes the manufacturing and production process quite easy since manufacturers can get their hands on the basic material at cost-effective prices. In 2020, more than 353,463,735.67 metric tonnes of soybean were produced globally which was more than 5.15% higher than the total production in 2019.
Brazil led the global market in terms of producing soybean with a market share of 34.2%, whereas the USA was the second to lead with a global market share of 32.1%. The rise in production rate is driven due to the various benefits offered by soybeans like the high nutritional efficacy as a feed ingredient or food. The main factors driving the market value of soybean are a culmination of the presence of balanced amounts of nutritional amino acids, high protein value along with existence of useful nutrients.
Restraints
- Use of artificially created soybean lecithin to restrict the market growth
The use of artificially created soybean lecithin may restrict global market growth, whereas the growing demand in the cosmetics sector is anticipated to provide global market expansion opportunities. The limited research on the pros and cons of soy lecithin is projected to challenge global market growth.
Soy Lecithin Market: COVID-19 Impact Analysis
Covid-19 had a negative impact on the global market cap since the majority of the manufacturing units had temporarily closed for operations. Even the ones that were already in the production phase could not reach the end consumers owing to transportation restrictions. Availability of raw materials was an added pressure on the global market once the facilities could partially or completely function.
Competitive Players
The report contains qualitative and quantitative research on the global soy lecithin Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. Some of the main players in the global soy lecithin market include;
- Cargill
- Lipoid GmbH
- Sternchemie Gmbh & Co.KG
- Sodrugestvo
- Archer Daniels Midland (ADM)
- Wilmar International
- Bunge Limited
- Thew Arnott & Co. Ltd.
- LEKITHOS
- DowDuPont
- SOYA International
- and International Flavors & Fragrances (IFF)
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Soy Lecithin Market: Segmentation
The global soy lecithin market is segmented based on form, application, and region.
Based on form, the global market is divided into solid and liquid where the highest revenue is expected to be generated from the liquid formula since this form makes it easier to be mixed with other items used in the manufacturing of paints, cosmetic products, animal feed, etc. The liquid soy lecithin is used extensively to manufacture cheese, chocolates, salad dressing, and margarine while it also reduces the cholesterol level in these items. As per the National Library of Medicine studies, soy lecithin led to a decrease of 42.65% and 56.11% in low-density lipoprotein (LDL) cholesterol and a decrease of 40.65% and 42.60% in total cholesterol, when used on serum cholesterol concentration over two months of the administration
Based on application, the global market segments are nutritional supplements, food & beverages, animal feed, and others. The global market is expected to be dominated by the F & B segment owing to the increasing applications of soy lecithin in the production of various food items and beverages. Since soy lecithin can be equally used in the manufacturing of conventional food items as well as healthy food products, the versatility offered by the product is why the global market is witnessing a high acceptance rate. The F & B sector is one of the fastest-growing industries and its global market value in 2021 was over USD 5.75 trillion and is expected to grow at an exceptionally high CAGR of around 10 % by the end of the decade. These factors may contribute to the segmental growth during the projection period.
Regional Analysis:
The global soy lecithin market is projected to be dominated by North America owing to the increasing applications in the food & beverages industry in countries like the USA, Canada, and Mexico. Since a higher number of people are adopting smart and healthy lifestyles, there is a rising trend of incorporating food items into the diet that can help enhance immunity levels. Soy lecithin is used extensively in health supplements thus driving its demand in the regional market.
The US market is an internationally popular hub of health supplements supplying products across the globe. The popularity is expected to aid regional market growth. Europe may register a significant CAGR due to the increased intake of protein-rich food items which is propelled by the rise in research activities for non-genetically modified organisms (GMO). The regional market is witnessing a surge in investments by key market players in understanding more about the potential uses of soy lecithin across sectors.
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Recent Industry Developments:
- In February 2019, the global market witnessed a joint venture announced between Simmons Grains Co, a US-based organic soybean processor, and Lasenor Emul, SL., a leading manufacturer of emulsifiers. The JV was created with the intention to create organic soy lecithin products for feed and food applications.
- In January 2019, LECICO GmbH, a leading manufacturer of sunflower, soy, and rapeseed lecithin, was acquired by the Avril Group. With the acquisition, the company has managed to expand its product portfolio and increase its consumer database in the lecithin market.
Key questions answered in this report:
- What is the market size and growth rate forecast for Soy Lecithin industry?
- What are the main driving factors propelling the Soy Lecithin Market forward?
- What are the leading companies in the Soy Lecithin Industry?
- What segments does the Soy Lecithin Market cover?
- How can I receive a free copy of the Soy Lecithin Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2021 | USD 2.1 Billion |
| Market Forecast in 2028 | USD 3.45 Billion |
| Growth Rate | CAGR of 5.56% |
| Base Year | 2021 |
| Forecast Years | 2022- 2028 |
| Key Companies Covered | Cargill, Lipoid GmbH, Sternchemie Gmbh & Co.KG, Sodrugestvo, Archer Daniels Midland (ADM), Wilmar International, Bunge Limited, Thew Arnott & Co. Ltd., LEKITHOS, DowDuPont, SOYA International, and International Flavors & Fragrances (IFF) |
| Segments Covered | By Product Type, By Application, and By End Use |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global soy lecithin market is segmented as follows:
By Application
- Nutritional Supplements
- Food & Beverages
- Animal Feed
- Others
By Form
- Solid
- Liquid
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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