Lecithin Market Size And Growth Factors By 2030

Lecithin Market Growth & Trends

The global lecithin market size is expected to reach USD 1,068.8 million by 2030, expanding at a CAGR of 7.7% from 2022 to 2030,  according to a new report by Grand View Research, Inc. The growth is majorly driven by rising demand for lecithin, which has compelled the end-use manufacturers to include it in their product formulations.

U.S. lecithin market size, by source, 2020 - 2030 (USD Million)

Lecithin Market Segmentation

Grand View Research has segmented the global lecithin market report based on source, end-use, form, and region

Based on the Source Insights, the market is segmented into Soy, Sunflower, Rapeseed, Others.

  • The soy segment dominated the lecithin market with the highest revenue share of over 79% in 2021. This is attributable to the growing food industry in regions of Europe and Asia Pacific due to the presence of extensive areas of land under soybean cultivation and production. It is mainly used for manufacturing dairy products, ice creams, dietary supplements, infant formulas, bread, margarine, and other convenience foods. However, growing concerns regarding increasing cholesterol levels and allergic properties of soybean are expected to lower its demand during the forecast period.
  • Lecithin extracted from sunflower seeds is expected to witness an increased demand in the growing product category of healthy foods, owing to the wide range of benefits provided by the product. Also, the demand for sunflower lecithin is expected to remain high on account of its growing consumption for manufacturing supplements.

Based on the End-use Insights, the market is segmented into Convenience Food, Bakery, Confectionary, Pharmaceutical, Personal Care And Cosmetics, Animal Feed, Other Industrial, Others.

  • The animal feed segment has dominated the lecithin market with the highest revenue share of more than 40% in 2021. This is attributable to the ever-rising meat consumption by the majority of the population throughout the globe. In addition, the highly developed animal husbandry industry has also positively impacted the overall growth of the industry.
  • Convenience foods save time and energy when preparing food at home or in a restaurant. Lecithin is used in convenience food products to assist in binding fat and keeping it in suspension, improving hydration of high-protein ingredients, lowering the fat cap throughout the retort process, and enhancing dispersion of high-fat powders. Furthermore, its exceptional qualities to improve mouthfeel and texture, as well as facilitate the even distribution of ingredients, are expected to fuel its inclusion in the convenience food category.
  • The confectionery segment consists of products that are mainly rich in sugar, such as chocolates, ice cream, gums, and caramels. Enhanced surface properties provided by lecithin boost its consumption in the confectionery segment. It also aids in reducing the moisture content of foods, owing to which its demand in the end-use segment is expected to remain high during the forecast period.

Based on the Form Insights, the market is segmented into Liquid, Powder and Granules.

  • Liquid form dominated the lecithin market with the highest revenue share of more than 86% in 2021. This high share is attributable to a sharp rise in demand for liquid form from multiple end-use application industries, such as industrial coatings, cosmetics, food processing, and confectionaries.
  • While liquid form is used in several food products, either as a food additiveor naturally, it is also consumed as a dietary supplement. Liquid lecithin in the dietary supplement is frequently a mixture of choline, inositol, phosphatidylcholine, phosphatide, and other compounds and is not merely phosphatidylcholine. Also, the liquid form tends to effortlessly disperse in oil as compared to its other forms.
  • Lecithin powder is utilized as an ingredient in several end-use industries, namely feed, food & beverage, cosmetics, and pharmaceuticals, among others. The product is frequently used in bakery and confectionery products. The powder form is added to cooking sprays to prevent the sticking of baked goods to the pans. It also has the unique property of binding with non-lipids and lipids, consequently keeping ingredients with water and oil together. For the same reason, key manufacturers prefer powder in food products such as butter and candy over liquid.

Lecithin Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Key Companies Profile & Market Share Insights

The global lecithin market is highly fragmented in nature and is facing intense competition. Market players are investing heavily in R&D activities related to technological advancements for process optimization, new product development, existing product portfolio expansion, and regional expansion.

Some of the prominent players operating in the global lecithin market include,

  • Cargill, Inc.
  • ADM
  • Lipoid GmbH
  • Bunge Limited
  • American Lecithin Company
  • Global River Food Ingredients
  • DuPont de Nemours, Inc.
  • Stern-Wywiol Gruppe GmbH & Co. KG
  • Haneil Soyatech Pvt. Ltd.
  • NOW Foods
  • Thew Arnott & Co. Ltd.
  • GIIAVA
  • AKK Soya International
  • Imcopo Food Ingredients B.V.
  • Sun Nutrafoods
  • Lasenor EMUL., S.L.
  • Sime Darby Unimills B.V.
  • LECICO GmbH
  • Wilmar International Ltd.
  • Yugen Chemicals
  • Barentz
  • Tianjin Hexiyuan Lecithin Technology Co., Ltd.
  • Orison Chemicals Limited

Order a free sample PDF of the Lecithin Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

South Africa Veterinary Medicine Market Size, Share, Revenue Analysis By 2028

Image
South Africa Veterinary Medicine Industry Overview The  South Africa veterinary medicine market  size is expected to reach USD 248.2 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.1% from 2021 to 2028. The market holds many opportunities to grow during the forecast period owing to the growing livestock and pet population, increasing consumption of meat, rising incidence of diseases in animals, and the presence of key global companies. According to a report published by the African Union/Interafrican Bureau for Animal Resources (AU/IBAR), MSD Animal Health leads the South African market for veterinary medicines, followed by other key companies. South Africa Veterinary Medicine Market Segmentation Grand View Research has segmented the South Africa veterinary medicine market on the basis of animal type, product, mode of delivery, and end-use: Based on the Animal Type Insights, the market is segmented i...
Read more

U.S. Cold Storage Market Distributor Analysis and Forecasts By 2030

Image
U.S. Cold Storage Market Growth & Trends The  U.S. cold storage market  size is estimated to reach USD 96.90 billion by 2030, expanding at a CAGR of 13.6% over the forecast period, according to the new research conducted by Grand View Research, Inc. The U.S. is widely regarded as one of the leading markets in developing technologies responsible for the effective management of cold storage processes. The pharmaceutical industry is expected to offer growth opportunities to the market. Inventory management of pharmaceutical goods, such as vaccines   and medicines, is an expensive process that necessitates adequate security measures to maintain product quality. Advanced cold storage technologies that offer beneficial features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly mitigate the possibility of wastage of temperature-sensitive goods. U.S. Cold Storage Market S...
Read more

Fencing Market Competitive Landscape And Component Benchmarking 2030

Image
Fencing Market Growth & Trends The global  fencing market  size is anticipated to reach USD 44.39 billion by 2030, growing at a CAGR of 5.5% over the forecast period, according to a new report by Grand View Research, Inc. The growing need to safeguard agricultural assets and the aggressive investments being made by private companies in strengthening the security and enhancing the aesthetics of their premises are expected to drive the growth of the market over the forecast period. The growth of the  real estate market  and the increase in the number of remodeling projects being undertaken are expected to contribute to the growth of the market. Fencing Market Segmentation Grand View Research has segmented the global fencing market based on material, distribution channel, installation, application, end use, and region: Based on the Material Insights, the market is segmented into Metal, Wood, Plastic & Composite, Concrete. The metal segment accounted for ...
Read more