Lecithin Market Size By Source (Soy [GMO, Non-GMO], Rapeseed/Canola, Sunflower, Egg Yolk), By Application (Food & Beverages, Animal Feed, Industrial, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Denmark, China, India, Japan, South Korea, Thailand, Malaysia, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 - 2024
Lecithin Market may exceed USD 2.4 billion by 2024; according to a new research report.
Increasing consumer expenditure on processed and convenience food owing to rising awareness regarding the demand for healthy food products may witness significant growth in lecithin market. Growing demand towards natural food products to reduce the usage of preservatives is likely to further support the industry growth.
Lecithin have wide application in food & beverage industry as it acts as an emulsifier and homogenizes fat particles in food. In bakery products it supports dough tolerance and work as releasing agent after baking. This product is rich in functional phospholipids which makes them ideal for usage in healthy food products and nutraceuticals. It is widely used in baked goods and confectionaries as it acts as instantizers which aid protein and other minerals to disperse in aqueous systems, thereby stimulating product demand.
Soy lecithin market demand may surpass USD 1.5 billion by 2024. These are extracted from raw soybeans and are accepted in both conventional and health food stores an ingredient in food products and sold in supplement form to boost health which turn will support industry demand. Furthermore, the growing concerns for healthy lifestyle are boosting the demand for nutrient rich food and supplements is likely to push the manufacturers to use nutrient rich and lucrative products.
Canola lecithin market was valued at over USD 75 million in 2017 and may surpass at a higher value in the projected timeframe. These oils are rich in polyunsaturated fats which aids in reducing LDL cholesterol and do not contain any artificial preservatives which trans-fat and GM are free. This product is used in production of mayonnaise, tartar sauce, salad dressings and cream cheese spread owing to its high smoke point and smooth texture. They also facilitate moisture retention in bakery products and improves taste and freshness, which in turn enhances overall lecithin market demand.
Sunflower lecithin market demand may witness significant gains at over 6% by 2024. These are derived by dehydrating sunflower and is processed through cold press system. They are rich in choline and other fatty acids which add on as a supplement which aids in reduction of the other fats and protect red blood cells. As an emulsifier it is able to balance the fat levels in bloodstream and help to boost heart health. It also helps in lubrication of joints and the reduction in inflammation around the body. In bakery products sunflower lecithin improves the extensibility of the gluten which has an impact on various aspects of baking process and improves the machinability of the dough, thus stimulating the product demand.
North America led by the U.S. and Canada lecithin market may witness gains at over 5% by the end of forecast period. Growing demand for natural products like skincare, fragrances and cosmetics owing to their benefits such as penetration in the skin, skin hydration and moisturizing effects is likely to foster the product demand. Increasing consumer demand towards organic, and ethical cosmetic products owing to its natural properties may stimulate the regional industry growth.
Europe led by France, UK, Spain, and Germany lecithin market may exceed USD 595 million by 2024. Growing demand for bakery products which include biscuits, pastries and cakes with low fat and calorie content may foster the market growth. Increasing demand for healthy and handy snacks products which are rich in essential nutrients like wrapped bread may propel the industry growth.
Asia Pacific led by, China, Japan and India lecithin market demand may witness gains at over 5% by 2024. The growth in demand can be attributed owing to high penetration of products across pharmaceuticals industry. Rising population in China and India may boost demand for medical aids which can be used in treatment of diseases such as Alzheimer, high cholesterol and skin diseases like eczema coupled with government initiatives to promote more pharmaceutical sector in the region, thereby boosting lecithin market demand.
Global lecithin market share is moderately consolidated with key players including ADM, GIIAVA, Bunge and SOYA. Companies are investing in R&D and new product development to expand their market demand.