According to the current analysis of Reports and Data, The Global Lecithin Market was valued at USD 1.09 billion in 2019 and is projected to reach USD 1.80 billion by 2027, at a CAGR of 6.5% during the forecast period. The global phospholipids market was valued at USD 3.06 billion in 2019 and is projected to reach USD 5.08 billion by 2027, at a CAGR of 6.9% during the forecast period. The Phospholipid and Lecithin market is growing due to their sources being easily obtained in the environment and due to the various end-use purposes that these ingredients have in multiple industries. Demand for naturally derived food supplements and nutraceuticals is expected to boost market growth. Determinants like the lack of awareness and also the higher cost of some varieties of the phospholipid and lecithin are restraining the expansion of this market.
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The APAC region accounted for the maximum share of the phospholipids market. Differences in consumer preference toward natural components have increased the demand for phospholipid products. In the APAC segment, an increase within the young population and increasing awareness about health have prompted consumers to go for healthier alternatives like food supplements. Moreover, increased demand for bakery items like cakes, pastries, and cookies will drive the demand for lecithin within the region Based on the source, the soy segment is forecasted to cover the maximum market. The easier extraction method of soy-derived ingredients compared to sunflower or egg-derived ingredients, coupled with the wide availability of soy in many countries, are the major factors supporting the dominant nature of soy-sourced lecithin. However, there has been a shift in the demand from soy to alternate sources of lecithin, such as sunflower and rapeseed, owing to GMO concerns over soy lecithin. The sunflower category in the lecithin market is forecasted to have a healthy CAGR during the forecast period while in the phospholipids market, the egg market is projected to grow at the highest CAGR during the forecast years. GMO issues are the major factor restraining the growth of the lecithin market, globally. Allergy issues associated with soy is a major challenge faced by consumers, influencing the growth of the lecithin market.
Market Overview:
All enterprises involved in the processing, packaging, and distribution of raw food materials fall within the food and beverage sector. Fresh and packaged meals, as well as alcoholic and nonalcoholic beverages, are all included. Apart from drugs, this industry touches every product designed for human consumption.
As a result of the current economic depression caused by the Covid-19 outbreak, consumers are seeking to save as much money as possible. Consumers are doing so in a variety of ways, including buying more generic things and cooking their own meals instead of going out. As a result, food processing companies are getting more creative in order to reduce the cost of goods sold, attract more customers, and increase profit margins.
Obesity has a tremendous impact on the global food and beverage industry. The desire for healthful foods has grown, as has the demand for more detailed nutritional information. Companies have responded by launching lower-calorie foods and tightening control over how their brand is viewed in response to both of these changes. Companies want to be viewed as a healthy brand, thus they support activities that indicate this, such as youth sports. There has even been talk of levying a tax on foods linked to obesity to deter people from eating them.
Some of the Leading Market Players Are Listed Below:
- Cargill (US),
- ADM (US),
- Stern-Wywiol Gruppe (Germany),
- DowDuPont (US),
- Bunge (US)
- Lipoid (Germany),
- Wilmar International (Singapore),
- Sonic Biochem Extractions (India)
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Market Segmentation:
Based on source, the lecithin market has been segmented as follows:
- Soy
- Sunflower
- Rapeseed
- Egg
- Others (corn and krill)
Based on type, the lecithin market has been segmented as follows:
- Fluid
- De-oiled
- Modified
Based on application, the lecithin market has been segmented as follows:
- Feed
- Food
- Industrial
- Health care
Global Phospholipids Market
Based on source, the phospholipids market has been segmented as follows:
- Soy
- Egg
- Others (milk and krill)
Based on application, the phospholipids market has been segmented as follows:
- Nutrition supplements
- Pharmaceuticals
- Others (personal care products and cosmeceuticals)
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Lecithin and Phospholipids market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Lecithin and Phospholipids market.
The global Lecithin and Phospholipids market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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