Lecithin is obtained from vegetable and animal sources, including oranges eggs cauliflower peanuts and beef liver. A commercial source of lecithin is egg yolks soybeans and brain tissues. Lecithin is dispersant emulsifier and viscosity modifier, which makes it suitable for application in various and use industries such as food animal feed pharmaceutical and personal care nutrition and supplements. As per the latest analysis of Market Research Future (MRFR), the lecithin industry is expected to witness a high CAGR over the forecast period.
Apart from that, increasing sports and physical activities along with a mounting number of gym and fitness clubs in the nutritional supplement sector are fuelling demand for lecithin over the forecast period. Rising population, along with snowballing production of high-quality crops have resulted in higher production of lecithin, promoting high CAGR in the market. However, fluctuating prices of lecithin in the global market are expected to pose as a hindrance in the market growth over the assessment period.
Key players
Some of the noteworthy players functioning in the lecithin market are Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), American Lecithin Company (U.S.), Lipoid GmbH (Germany), DuPont (U.S.), Bunge Limited (U.S.), Stern-Wywiol Gruppe GmbH & Co. Kg (Germany), Avanti Lipids Polar, Inc. (U.S.), Lasenor Emul S.L. (Spain), Lecico GmbH (Germany), Vav Life Sciences Private Limited (India).
Market segmentation
The global lecithin market has been studied for different sources of lecithin, its applications, and regions. Different sources for lecithin include soya bean, sunflower, maize, rice, and egg. Soybean was the most used source to create lecithin at the beginning of the forecast period. Around 45% of the lecithin market was held by soya bean due to a wide utilization of the source for the production of lecithin. Lecithin has various applications in different end-use industries. These industries include animal feed, food and beverages, pharmaceuticals, and nutrition and supplements. Growth in demand for lecithin from the pharmaceutical and personal care sectors is anticipated to promote favorable expansion in the lecithin market during the review period.
Detailed regional analysis
The global lecithin market has been studied for five regional segments such as North America Latin America Asia Pacific Europe and The Middle East and Africa. Among the segments, Europe held the largest share in the lecithin market at the beginning of the forecast period. The region is expected to witness a moderate CAGR over the assessment period of 2017 to 2023. Such expansion can be attributed to the growth of various end-use industries in the region, such as food and beverages, pharmaceuticals, and animal feed. Italy, the UK, Germany, Russia, and France are expected to spearhead the country-specific market for lecithin within Europe. This can be attributed to the wide utilization of lecithin in food applications and nutritional supplement.
On the other hand, North America’s lecithin market is anticipated to exhibit and average CAGR because of increasing awareness regarding the benefits associated with lecithin, along with the rise in the disposable income of consumers residing in the region. Canada and the US anticipated to head the country specific markets in North America due to a high demand for lecithin from the pharmaceutical sector. Moreover, a presence of major food companies in this region is projected to promote further growth.
Countries such as Peru, Brazil, Argentina, Guatemala, and Mexico estimated to dominate the country-specific market for lecithin in Latin America during the forecast period. Such domination can be attributed to the ascending demand for lecithin among consumers, coupled with an increase in the production of sunflower and soya bean.
In the Middle East and Africa countries such as Qatar, Oman, Turkey, The United Arab Emirates, and Saudi Arabia are expected to lead the regional lecithin market over the assessment period of 2017-2023. Such market domination can be attributed to strong demand for lecithin from the pharmaceutical sector.
Asia-pacific’s lecithin market is anticipated to witness the highest growth, as compared to other regions, during the forecast period. This can be attributed to the snowballing expansion of various end-use industries prevalent in the region. A surge in demand for lecithin is predicted to occur in countries such as Malaysia, Bangladesh, India, South Korea, Taiwan, and China due to a growing consumer base and favorable government regulations. Additionally, an ascending consumption of bakery products, the presence of cost-effective raw material, labor, and land, and favorable regulatory framework have contributed heavily to the growth trajectory of the regional lecithin market.
