Lecithin Market Outlook
According to the report by Expert Market Research (EMR), the global lecithin market trends reached a volume of 322.32 KMT in 2022. Aided by the growing demand for natural emulsifiers in food products and the widening applications of lecithin across various industries, the market is projected to further grow at a CAGR of 3.8% between 2023 and 2028 to reach a volume of 402.76 KMT by 2028.
Lecithin is a fatty component that can be found in a variety of foods, including bakery items, confections, and convenience foods. It comes from sources like soybeans, eggs, and sunflowers. It is crucial for emulsifying, stabilising, and offering nutritional advantages. Due to its emulsifying and lubricating qualities, lecithin has a wide range of uses in a variety of industries aside from food, such as medicines, cosmetics, and animal feed.
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The escalating consumer preference for natural and clean-label food products is driving the global lecithin market growth. There has been a noticeable trend towards goods supplemented with natural ingredients like lecithin as awareness of the health and nutritional advantages connected with natural emulsifiers grows. The popularity of lecithin has also increased due to the growing trend of health consciousness because of its well-known use as a component in nutritional supplements due to its high choline concentration, which supports liver and brain development.
In addition, the burgeoning applications of lecithin in various industries are contributing significantly to global lecithin market expansion. Lecithin is utilised as an emulsifier and dispersant in the pharmaceutical industry for creating new medicine formulations. Lecithin is used in the cosmetics sector for its moisturising qualities, which are important for many skincare and haircare products. Lecithin is also a vital component in the creation of animal feed because of its great lubricating qualities, which raise the nutritional value of the feed.
Additionally, lecithin has received more attention as a potential component for vegan and vegetarian goods due to the expanding need for plant-based substitutes in the food and beverage industry. With the rise of veganism and the burgeoning popularity of plant-based diets, lecithin, particularly from soy and sunflower sources, has emerged as a critical component in the formulation of dairy-free chocolates, baked goods, and spreads, thereby stimulating the lecithin market expansion.
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Lecithin Market Segmentation
The market can be divided based on source, form, end use, and region.
Market Breakup by Source
- Soy
- Sunflower
- Rapeseed
- Others
Market Breakup by Form
- Liquid
- Powder
- Granules
Market Breakup by End Use
- Food and Beverages
- Animal Feed
- Pharmaceuticals
- Personal Care and Cosmetics
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global lecithin companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Archer Daniels Midland Company
- Bunge Limited
- Cargill, Incorporated
- Caldic B.V.
- Fismer Lecithin GmbH
- Lecilite Ingredients Pvt Ltd
- Lipoid GmbH
- Sternchemie GmbH & Co. KG
- Others
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