The global lecithin market size is expected to reach USD 1,235.0 million by 2028 according to a new study by Polaris Market Research. The report “Lecithin Market Share, Size, Trends, Industry Analysis Report, By Type (De-oiled, Modified, Fluid); By Source (Sunflower, Soy, Egg, Others); By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The demand for the product is expected to increase during the forecast period due to growing health consciousness and greater awareness regarding the benefits of the product. Growing shift towards health and wellness products and increasing disposable income of consumers has significantly increased the demand for the product.
There has been growing demand for the product registered from cosmetics, personal care, and animal feed products. Nutraceutical production has increased during the pandemic to cater to the growing consumer demand. However, the market has been impacted by the COVID-19 outbreak, which has led to disrupted supply chain, lockdowns, decreased deliveries, and limited workforce.
On the basis of type, the market is segmented into de-oiled, modified, and fluid. The fluid segment dominated the global industry in 2020. Fluid lecithin is used for emulsification, stabilization, softening, and wetting dispersibility properties. They are utilized in food products to enable easy mixing and stable blends while avoiding separation. They also assist in adjusting the viscosity of products by reducing friction between small solid particles dispersed in liquid.
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On the basis of product, the market is segmented into sunflower, soy, egg, and others. The soy segment accounted for a major share of the global industry for lecithin in 2020. Health benefits associated with soy, increasing health consciousness among users boosts the growth of this segment. The wide availability of soy and lower prices associated with it have further increased its demand across the globe. Rapid urbanization, increasing application in personal care and cosmetics products have driven the overall growth of this segment.
The demand for dietary supplements is expected to increase during the forecast period. The fitness industry’s growth, the geriatric population, and public health and wellness initiatives, particularly during the pandemic, all contribute to the demand growth.
Some leading industry participants include include American Chemie Inc., American Lecithin Company, Archer Daniels Midland Company, Bunge Limited, Cargill Inc., DuPont de Nemours, Fismer Lecithin GmbH., GIIAVA, Global River Food Ingredients, Lipoid GmbH Lecio Gmbh, NOW Foods, Sonic Biochem, Soya International, Stern Ingredients India Pvt. Ltd, Sternchemie Gmbh & Co. Kg, Thew Arnott & Co. Ltd., VAV Life Sciences Pvt Ltd, Wilmar International.
Polaris Market Research has segmented the lecithin market report on the basis of type, source, application, and region:
Lecithin, Type Outlook (Revenue, USD Million, 2016 – 2028)
Lecithin, Source Outlook (Revenue, USD Million, 2016 – 2028)
Lecithin, Application Outlook (Revenue, USD Million, 2016 – 2028)
- Animal Feed
- Dietary Supplements
- Functional Food & Beverages
Lecithin, Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa