The Global Lecithin Market is expected to reach USD 1.49 billion by 2025, according to a new report by Hexa Reports. The growing awareness about natural emulsifiers and its rising demand in the manufacturing of food products is expected to drive the market growth.
The emulsification and lubricant properties exhibited by lecithin coupled with eco-friendly nature have increased its importance. The product has numerous applications in the pharmaceutical, food & beverage, animal feed, paints, and industrial sectors. The growing demand for the product in chocolate & confectionery, margarine & spreads, bakery products, and beverages is anticipated to propel the market growth.
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The demand in Europe is increasing rapidly owing to the presence of a large number of sunflower lecithin manufacturing facilities in the region. The market in Asia Pacific is anticipated to grow rapidly on account of growing number of oilseed crushing facilities coupled with the prospects of exporting lecithin to Europe. The availability of non-GMO soybean in the region is expected to have a positive impact on the market growth.
Further key findings from the report suggest:
• Bakery application segment is projected to grow at a CAGR of 6.6% from 2017 to 2025 on account of the growing demand for sugar-free bakery products
• Industrial application segment is projected to grow at a CAGR of 6.0% from 2017 to 2025 owing to the growing demand for products derived from natural sources
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• North America accounted for 28.5% of the global market share in 2016 owing to the presence of a large number of soybean fields in the U.S. and Canada
• The market value of lecithin in the Central & South America region is expected to grow to USD 0.16 billion in 2025 backed by the growing consumption in Brazil and Argentina
• The market is highly fragmented in nature with the presence of a large number of small and large manufacturers
• Manufacturers have focused their research efforts on extracting lecithin from sources such as rice and maize to keep up with the growing demand
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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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