Global Lecithin Market is anticipated to reach USD 1.49 billion by 2025. From several commercial sources like soybeans, sunflowers, and egg yolk Lecithin is obtained. Lecithin finds applications in several verticals such as pharmaceuticals, food and beverage, and cosmetic industry. Lecithin is commonly used due to its exclusive features like smoothening textures of food, for softening powders, for homogenizing mixtures in liquid, to repel the sticky material, and also as a stabilizing and emulsifier agent.
The factors that propel the growth of the lecithin industry include use as a food additive in food industry, in the pharmaceutical industry for treatments associated with liver and cholesterol effects, neurological conditions, for cardiovascular disorders, and growing health consciousness among customers. On the other hand, there are factors that may hamper the growth of the market including increasing inclination towards organic food. Lecithin market is anticipated to grow at a significant CAGR of 6.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Lecithin industry may be explored by source, application, and geography. The market may be explored by source as Sunflower, Rapeseed, Soybean, and Others. The “Soybean” segment led the lecithin market in 2016 and is anticipated to maintain its dominance by 2025 owing to rising demand in industrial applications, such as inks, and paints, and therapeutic and functional benefits of soybean.
The key applications that could be explored in the lecithin industry include Bakery, Convenience Foods, Confectionary, Industrial, Animal Feed, Pharmaceuticals & Personal Care, and Others. The “Animal Feed” segment led the market in 2016 and is anticipated to maintain its dominance by 2025.
North America accounted for the major share of the lecithin market size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include occurrence of a huge number of soybean fields in the Canada and U.S. North America is followed by Asia-Pacific and Europe region.
Some of the key players that fuel the growth of the lecithin industry comprise “Sodrugestvo” Group of Companies, Archer Daniels Midland Company, Cargill Incorporated, AMERICAN LECITHIN COMPANY, Thew Arnott Group, Swanson Health Products, Lipoid GmbH, NOW Foods, DuPont Lucas Meyer GMBH, and Bunge Limited. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Source Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• Convenience Foods
• Pharmaceuticals & Personal Care
• Animal Feed
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/food-ingredients
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