29-Nov-2022 | Zion Market Research
The global Lecithin market size was worth around USD 550 million in 2021 and is predicted to grow to around USD 912 million by 2028 with a compound annual growth rate (CAGR) of roughly 7.5% between 2022 and 2028.
Lecithin, also known as Phosphatidyl Choline, is a kind of phospholipid (phosphoglyceride) that plays a vital role in cell structure and metabolism. Lecithins are made up of phosphoric acid, choline, glycerol esters, and two fatty acids that vary in chain length, location, and degree of unsaturation, resulting in distinct lecithins with varied biological activities.
A mixture of phosphoglycerides including lecithin, cephalin (particularly phosphatidyl ethanolamine), and phosphatidyl inositol is also known as lecithin. This blend, as well as around 35% neutral oil, is found in commercial lecithin, the majority of which is derived from soybean oil. It is commonly employed as a wetting and emulsifying agent, among other things. Animal feeds, baking items and mixes, chocolate, cosmetics and soaps, dyes, pesticides, paints, and plastics are some of the products that employ it.
The major demand for lecithin is from the food manufacturing industry, as it is largely used as a food additive and is used in various forms such as realizing agent, a natural emulsifier, an anti-spatter, and a lubricant stabilizer. Pharmaceutical manufacturers also prefer lecithin for the treatments of cardiovascular diseases, liver and cholesterol effects, and neurological conditions. Owing to these factors it is anticipated that the global lecithin market will open up new growth opportunities. Lecithin is also used as a dispersing agent in the pharmaceutical industry that assists in encapsulation.
It is used in various industrial applications such as emulsifiers, release agents, spreading agents, anti-sludge additives, and many others. Rubber, plastic, paint, and textile are major industries where lecithin is used in different industrial applications. However, volatility in the price of the raw material is expected to impede market growth as it can be challenging for the major players to plan their budgets for the upcoming initiatives because the costs of the raw materials are subject to fluctuation.
The global lecithin market is segmented based on the source, form, end-use, and region.
The source categorizes the global market into soy, sunflower, rapeseed, and other segments. In 2021, the soy segment had the highest revenue share of more than 70%, and it is anticipated that it will continue to dominate during the projection period. This can be ascribed to the growing food industry in parts of Asia-Pacific and Europe, where soybean farming and production occupy substantial land areas.
It is mostly used to make dairy products, ice cream, dietary supplements, infant formula, bread, margarine, and other ready-to-eat meals. Nevertheless, it is anticipated that within the anticipated time frame, demand would decrease as worries about rising cholesterol levels and the allergic properties of soybeans increase. In addition, the sunflower category is anticipated to expand at a notable rate throughout the projection period due to the vast range of advantages it offers. Additionally, it is projected that sunflower lecithin demand will continue to be high due to its expanding application in the manufacture of supplements.
The market is divided into three categories based on the form: liquid, powder, and granules. Over 80% of the revenue in 2021 came from the liquid sector, which is anticipated to continue to dominate during the projection period. This high proportion is attributable to a large rise in the demand for liquid form across several end-use application industries, including industrial coatings, cosmetics, food processing, and confectioneries.
While it is used in liquid form as a food additive or naturally in many food products, it is also used as a dietary supplement. Liquid lecithin found in dietary supplements is often a mixture of choline, inositol, phosphatidylcholine, phosphatide, and other ingredients rather than pure phosphatidylcholine. The powder category, on the other hand, is anticipated to expand significantly during the projected period. Lecithin powder is used as an ingredient in several end-use industries, including feed, food & beverage, cosmetics, and medicines. It frequently appears in products for bakeries and confectioneries.
The powder form is added to cooking sprays to prevent baked items from sticking to the pans. Additionally, it has the amazing capacity to bond with both lipids and non-lipids, maintaining the cohesiveness of molecules that contain both water and oil. For the same reason, major producers prefer powder to liquid in culinary goods like butter and confectionery.
The global lecithin market is segmented based on end-use into animal feed, bakery, confectionery, pharmaceutical, convenience food, and personal care & cosmetics. Due to the increasing consumption of meat by the majority of people worldwide, the animal feed segment is anticipated to dominate the market throughout the forecast period. Moreover, the industry's growth has benefited from the highly developed animal husbandry sector.
Contrarily, the convenience food segment is anticipated to maintain a sizable market share during the forecast period. Convenience foods save time and energy while preparing meals at home or in a restaurant. Lecithin helps to decrease the fat cap during the retort process, increase the dispersion of high-fat powders, hydrate high-protein components, bind fat, and keep it suspended in convenience food products. It is also anticipated that its exceptional capacities to improve mouthfeel and texture and facilitate the more uniform distribution of ingredients will boost its inclusion in the convenience food market.
The market for lecithin is divided into five regions based on geography: North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In Asia-Pacific, a significant regional market has emerged. Growing demand from China and India, whose populations are developing swiftly, as well as changing demographic trends, have contributed to the region's rise.
The availability of large tracts of land for the production of oilseeds is expected to hasten the expansion of the market. The growth of small-scale food producers is predicted to increase demand for lecithin in application areas such as convenience foods, bakeries, and confectionery. Because of the quick new product development in these application categories, it is projected that demand in the food and beverage industry will rise even more.
The global lecithin market is dominated by players like Cargill, ADM, Lucas Meyer GmbH., Thew Arnott Group, NOW Foods, DuPont, Sodrugestvo Group of Companies, Swanson Health Products, American Lecithin Company, Bunge Limited, Lipoid GmbH among others.
This review is based on a report by Zion Market Research, titled “Lecithin Market By Source (Soy, Sunflower, Rapeseed, and Others), By Form (Liquid, Powder, and Granules), By End-use (Convenience Food, Bakery, Confectionary, Pharmaceutical, Personal Care & Cosmetics, Animal Feed, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.”- Report at https://www.zionmarketresearch.com/report/lecithin-market
The global lecithin market is segmented as follows:
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