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The global lecithin market size is estimated to grow by USD 195.88 million between 2022 and 2027 exhibiting a CAGR of 6.09%. Lecithin is a mixture of fat essential to cells in the human body. It is found in egg yolk, animal cells, and many plants such as sunflowers. It is used commercially as an emulsifier.
The growth of the market depends on several factors, including increasing sales of bakery products, increasing demand for dairy products, and growing adoption of lecithin in dietary supplements.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the global lecithin market growth is the growing adoption of lecithin in dietary supplements. The main reason for the increasing demand for dietary supplements is that consumers are increasingly becoming conscious of their diets and are showing greater interest in healthy eating habits. Hence, dietary supplements are used to compensate for the deficiency of certain nutrients in the diet, which are necessary for the body.
There is an increasing demand for lecithin as it can be taken as a dietary supplement to improve immune function and can be used to treat high cholesterol and digestive issues and to prevent clogged milk ducts in women who are breastfeeding. Some of the other benefits of dietary supplements include mitigating health issues that arise from sedentary lifestyles and fast-food eating habits by strengthening the body's immunity and resistance to diseases. Hence, such factors are expected to drive the global lecithin market growth during the forecast period.
A key factor shaping the global lecithin market growth is the increasing demand for plant-based lecithin. One of the main features of plant-based lecithin is that it contains natural emulsifiers. Some of the various types of vegan or plant-based lecithin, including soy, sunflower, and canola lecithin, are used in food and other applications.
The main reason for the high demand for plant-based lecithin is that it serves as a healthy alternative to protein-based lecithin, as plant-based lecithin does not cause allergies to consumers. Hence, market vendors are significantly expanding their plant-based lecithin manufacturing capabilities due to their certain advantages. Therefore, such factors are expected to drive the global lecithin market growth during the forecast period.
The rising demand for enzymes as substitutes for lecithin is one of the key challenges hindering the global lecithin market growth. Enzymes and emulsifiers, which include lecithin, are key ingredients that are widely used in the bakery industry. Thus, due to the technical advances in enzyme manufacturing, it has been concluded that enzymes are an ideal alternative to lecithin, which can pose a significant threat to the growth of the global lecithin market.
Additionally, enzymes are mostly preferred that lecithin as it forms a network of gluten proteins and enhances the stability and consistency of the dough in baking and it is more economical as well. Some of the variety of applications of enzymes include handling, mixing, and fermentation stage of dough. Hence, such factors are expected to hinder the global lecithin market growth during the forecast period.
This report extensively covers market segmentation by Application (animal feed, food and beverages, pharmaceuticals, and others) and Geography (Europe, North America, APAC, South America, and Middle East and Africa).
The market share growth by the animal feed segment will be significant during the forecast period. One of the key ingredients used in animal feed is lecithin as it is an excellent source of dietary phospholipids. The main reason for the usage of lecithin in animal feed is that Its unique qualities enhance animal and livelihood health and boost the profitability of agricultural livestock farmers, resulting in faster and stronger growth of livestock animals and their enhanced health in terms of better resistance to infections and diseases and a lower mortality rate besides improved meat quality.
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The animal feed segment was valued at USD 193.12 million in 2017 and continued to grow until 2021. Another significant advantage of the use of lecithin in animal feed is that it fuels the growth and survival of fish larvae by promoting skin quality and luster, feed utilization, growth rates, and other factors. Also, it is an excellent source of phospholipids, which are obtained from a variety of shellfish, fish, krill, shrimp, and shrimp. Some of the key benefits of lecithin in animal feed include a healthy diet of young aquatic species. As lecithin is a source of phospholipids, choline, and inositol, it significantly supports the survival and growth of larvae. Thus, such benefits are expected to drive the growth of this segment which, in turn, will drive the global lecithin market growth during the forecast period.
Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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One of the main reasons for the growth of the lecithin market in Europe is due to its wide range of applications in various end-user industries, such as dairy, bakery, confectionery, and cosmetics. The bakery and confectionery segment is one of the major segments driving the growth of the lecithin market in Europe as lecithin is a key ingredient in Food products such as cake mixes, chocolates, dairy products, ice creams, mayonnaise, dressings, and margarine require emulsifiers to achieve the correct texture. Hence, such applications of lecithin are expected to drive the lecithin market in the region during the forecasting period.
In 2020, during the COVID-19 pandemic, the growth of the global lecithin market witnessed a significant slowdown because of the temporary closure of manufacturing plants for lecithin due to the lockdown measures, resulting in a decline in the production of lecithin in the region. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of operations in end-user industries, such as restaurants, reviving the growth of the regional lecithin market. Such factors are expected to drive the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lecithin Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bunge Ltd: The company offers Lecithin solutions such as BungeMaxx Soyabean lecithin, BungeMaxx sunflower lecithin, and BungeMaxx Canola lecithin.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
AAK AB, American Lecithin Co., AMITEX AGRO PRODUCT PVT. LTD., Archer Daniels Midland Co., AVRIL SCA, Bunge Ltd., Cargill Inc., Fismer Lecithin GmbH, Foodchem International Corp., Giiava, Haneil Soyatech Pvt. Ltd., Lecilite Ingredients Pvt. Ltd., Matrix Life Science Inc., Prestige Group, Sonic Biochem Extraction Pvt. Ltd., Sternchemie GmbH and Co. KG, VAV Life Sciences Pvt. Ltd., Kriti Nutrients Ltd., Lipoid GmbH, and Wilmar International Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lecithin market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Lecithin Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.09% |
Market growth 2023-2027 |
USD 195.88 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.65 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 35% |
Key countries |
US, India, China, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AAK AB, American Lecithin Co., AMITEX AGRO PRODUCT PVT. LTD., Archer Daniels Midland Co., AVRIL SCA, Bunge Ltd., Cargill Inc., Fismer Lecithin GmbH, Foodchem International Corp., Giiava, Haneil Soyatech Pvt. Ltd., Lecilite Ingredients Pvt. Ltd., Matrix Life Science Inc., Prestige Group, Sonic Biochem Extraction Pvt. Ltd., Sternchemie GmbH and Co. KG, VAV Life Sciences Pvt. Ltd., Kriti Nutrients Ltd., Lipoid GmbH, and Wilmar International Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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