Lecithin Market

Lecithin Market generated a revenue of USD 1,200 Million in 2020 and is forecast to witness a 6.7% CAGR during the forecast period (2021-2028), due to the growing use of lecithin to treat various diseases which include dementia, gallbladder disease, and age-related memory loss.

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Market Dynamic

Key Drivers

The major factors fueling the Lecithin Market includes surging demand for convenience food products, growing application of lecithin in baked goods, ready-to-eat and instant food products and increasing production of lecithin around the world. For example, the Bloomberg report projects that the Global Ready-To-Eat Market is estimated to touch USD 1,471.94 billion by the end of 2028, exhibiting a CAGR of 5.4% over the forecast period (2022-2028), which is expected to fuel the Lecithin Market size in the approaching years.

Moreover, the increasing use of lecithin in the end-use industries which include Pharmaceutical and Food and Beverages, owing to its ability to improve heart health and cholesterol levels will supplement the market growth further. Increasing inclination towards the consumption of non-GMO food products has persuaded lecithin manufacturers to expand their product portfolio by launching new products, which will offer enormous opportunities for the market. For example, in 2018, Cargill Incorporated, one of the prominent contributors to the lecithin market, introduced a new portfolio of defatted lecithin products. With the increasing use of lecithin in cosmetic industry as it offers several benefits which include skin repair, hydration, and anti-aging effects, the market is expected to grow significantly.

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Source – Segment Analysis

Sunflower segment is estimated to witness a faster CAGR during the forecast period, due to its growing demand across France, Ukraine, Hungary, and Russia. The wide range of benefits provided by sunflower based lecithin has augmented its demand across various healthy foods, driving the segment’s growth.

The soy segment is predicted to witness a promising growth because of its easy availability, cost-efficiency, and simple extraction process. The growing use of soy-based lecithin in personal care and cosmetics owing to growing awareness regarding skincare and adoption of beauty trends will expand the market growth. In addition, the product helps in improving cholesterol levels along with decreasing excess LDL cholesterol, thus, making it an important ingredient in food products and supplements to boost health.

Applications – Segment Analysis

Convenience foods application is expected to grow at a higher CAGR over the forecast period, owing to its growing use to produce different confectionery products like fudge, caramels, brittles, chocolates, as it helps in binding fat, improve hydration of high-protein ingredients, decreasing the fat content throughout the retort process, and improve dispersion of high-fat powders. On the other hand, the pharmaceutical & personal care segment is estimated to lead the market during the upcoming years due to the increasing demand for emulsion-based pharmaceuticals products.

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Regional – Segment Analysis:

Asia-Pacific is expected to hold a faster CAGR during the forecast period, due to the increasing number of food outlets and food service joints. Growing awareness regarding diet and nutritious eating habits, surging demand for organic ingredients, and accelerating ageing population are other factors fueling the regional growth. Rising cases of lifestyle-associated diseases have augmented the demand for the product along with the growing demand for personal care products and cosmetics further support the market growth. Also, the advanced health programs supported by government policies coupled with the innovations in technology for medical devices will boost the regional industry expansion.

Top Market Players

Various notable players operating in the market, include Cargill Incorporated, ADM, Lipoid GmbH, Bunge Loders Croklaan, American Lecithin Company, DuPont, Praan Naturals, Global River Food Ingredients, AKK Soya International, and NOW Foods, among others.

Key Developments:

• • In 2021, AAK acquired BIC Ingredients, BIC Ingredients supplies non-GM specialty lecithin and lecithin compounds.
  • In 2021, Lecico entered into a partnership with Ciranda for lecithin and phospholipids across North America, emphasizing on clean label food trends and local commercial and technical support.
  • In February 2021, Strenchemie announced the release of soy lecithin dairy alternatives for the European market. The company has also received a GRAS no objection letter from the FDA for its range of sunflower-based lecithin in April 2021.
  • In 2019, AKK, one of the leading Swedish companies, acquired UK-based Soya International and the business trade name became AAK Soya International Ltd.
  • In 2019, Praan Natural introduced Organic Sunflower & Soy Lecithin Powder and Liquid into its ethically derived product range.

Segments covered in the Report:

The global Lecithin market has been segmented on the basis of Source, Application, and regions. Based on Source, the market is segmented into Soy, Sunflower, Rapeseed, and Others. Based on Application, the market is segmented into Convenience Foods, Bakery, Confectionery, Pharmaceuticals & Personal Care, Animal Feed, Industrial, and Others. 

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Key questions answered in this research report:

• • At what pace is global Lecithin market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Lecithin market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Lecithin market?
  • Which Source generated maximum revenues in 2019 and identify the most promising Source during the forecast period?
  • What are the various Application areas of global Lecithin market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Lecithin Market by Source

• • Soy
  • Sunflower
  • Rapeseed
  • Others

Global Lecithin Market by Application

• • Convenience Foods
  • Bakery
  • Confectionery
  • Pharmaceuticals & Personal Care
  • Animal Feed
  • Industrial
  • Others

Global Lecithin Market by Region

• • North America Lecithin Market (Option 1: As a part of the free 25% customization)
    • North America Lecithin Market by Source
    • North America Lecithin Market by Application
    • US Lecithin Market All-Up
    • Canada Lecithin Market All-Up
  • Europe Lecithin Market (Option 2: As a part of the free 25% customization)
    • Europe Lecithin Market by Source
    • Europe Lecithin Market by Application
    • UK Lecithin Market All-Up
    • Germany Lecithin Market All-Up
    • France Lecithin Market All-Up
    • Spain Lecithin Market All-Up
    • Rest of Europe Lecithin Market All-Up
  • Asia-Pacific Lecithin Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Lecithin Market by Source
    • Asia-Pacific Lecithin Market by Application
    • China Lecithin Market All-Up
    • India Lecithin Market All-Up
    • Japan Lecithin Market All-Up
    • Rest of APAC Lecithin Market All-Up
  • RoW Lecithin Market (Option 4: As a part of the free 25% customization)
    • RoW Lecithin Market by Source
    • RoW Lecithin Market by Application
    • Brazil Lecithin Market All-Up
    • South Africa Lecithin Market All-Up
    • Saudi Arabia Lecithin Market All-Up
    • UAE Lecithin Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Lecithin Market All-Up

Major Players Operating in the Lecithin (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cargill Incorporated
  • ADM
  • Lipoid GmbH
  • Bunge Loders Croklaan
  • American Lecithin Company
  • DuPont
  • Praan Naturals
  • Global River Food Ingredients
  • AKK Soya International
  • NOW Foods