The Lecithin Market is anticipated to reach over USD 1,605 million by 2026 according to a new research published by Polaris Market Research. In 2017, the soy segment dominated the global market, in terms of revenue. Europe was the leading contributor to the global market revenue in 2017.
A significant increase in awareness regarding healthy diet, changing lifestyles, and health benefits offered by Lecithin drive the growth of the Lecithin Market. Other driving factors include growing inclination towards use of naturally sourced products, and increasing use of Lecithin in medicinal and pharmaceutical applications. Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific further fuels the growth of the Lecithin market. Factors such as increase in per capita income, changes in consumer behavior, and increased awareness regarding health and nutrition are expected to accelerate the adoption of Lecithin in the coming years. Increasing demand from developing nations, and growing use in the nutraceuticals industry is expected provide numerous growth opportunities to the market players during the forecast period.
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Europe generated the highest revenue in the Lecithin Market in 2017. The increasing health awareness in the region coupled with high disposable income drives the market growth. The increasing demand of Lecithin in the region is owing to high consumer awareness regarding the benefits of Lecithin, and growing industrial applications. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to increasing disposable incomes in developing countries of this region, and rising demand of Lecithin for animal feed, and pharmaceutical.
The well-known companies profiled in the Lecithin Market report include Stern-Wywiol Gruppe Pvt. Ltd., Lipoid GmbH, E. I. duPont de Nemours Company, Cargill, Inc., Archer Daniels Midland, Wilmar International, American Lecithin Company, Northland Organic Food Corporation, VAV Life Sciences Pvt. Ltd., and Soya International. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.