PUBLISHER: Meticulous Research | PRODUCT CODE: 1576517
PUBLISHER: Meticulous Research | PRODUCT CODE: 1576517
Lecithin Market Size, Share, Forecast, & Trends Analysis by Type (Unrefined, Refined, Modified), Source (Soy, Sunflower, Canola), Form (Liquid, Granular), Application (Food & Beverages, Pharmaceuticals, Animal Feed, Personal Care)-Global Forecast to 2031
According to the research report titled, 'Lecithin Market Size, Share, Forecast, & Trends Analysis by Type (Unrefined, Refined, Modified), Source (Soy, Sunflower, Canola), Form (Liquid, Granular), Application (Food & Beverages, Pharmaceuticals, Animal Feed, Personal Care)-Global Forecast to 2031,' the lecithin market is projected to reach $2.91 billion by 2031, at a CAGR of 6.5% during the forecast period 2024-2031. The report provides an in-depth analysis of the global lecithin market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2031.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and trends. The growth of this market is driven by the increasing demand for natural and functional ingredients, the growing prevalence of lifestyle-based health issues, such as cardiovascular diseases, osteoporosis, obesity, and diabetes, increasing demand for processed food & beverage products, and the growing awareness about phospholipids. Furthermore, the growing demand for lecithin from the personal care industry and the rising use of lecithin in developing nations are expected to offer growth opportunities for the players operating in this market. Additionally, the growing demand for non-GMO products and clean-label products is a prominent trend in this market.
However, fluctuations in raw material prices and availability and lack of knowledge regarding the advantages of lecithin are some of the challenges impeding the market's growth.
The key players operating in the global lecithin market are Cargill, Incorporated (U.S.), Archer-Daniels-Midland Company (U.S.), DuPont de Nemours, Inc. (U.S.), Lipoid GmbH (Germany), Bunge Global SA (U.S.), American Lecithin Company (U.S.), Global River Food Ingredients (U.S.), Sternchemie GmbH & Co. KG (Germany), Wilmar International Limited (Singapore), AAK AB (Sweden), Haneil Soyatech Pvt. Ltd. (India), Orison Chemicals Limited (China), Tianjin Hexiyuan Lecithin Technology Co., Ltd. (China), Sime Darby Oils Zwijndrecht Refinery B.V. (Netherlands), LECICO GmbH (Germany), and Sun Nutrafoods (India).
Based on type, the lecithin market is segmented into unrefined, refined, and modified. In 2024, the unrefined segment is expected to account for the largest share of the lecithin market mainly due to the rising demand for food additives, the growing demand for natural ingredients with minimal processing, and the increasing use of unrefined lecithin in cosmetic products. Furthermore, high availability, ease, and greater benefits compared to modified lecithin further support the growth of this market.
Based on source, the lecithin market is segmented into soy, sunflower, canola/rapeseed, egg yolk, and other sources. In 2024, the soy segment is expected to account for the largest share of 45.1% of the lecithin market. The large market share of this segment can be attributed to factors such as the high availability of soy as raw material, the lesser cost compared to other sources, and the rising use of soy-based lecithin in plant-based food and dairy alternatives. Furthermore, there is a rise in the use of soy-based phospholipids in pharmaceuticals and cosmetics as a natural ingredient, further driving the market growth.
Based on form, the lecithin market is segmented into liquid, powder, and granular. In 2024, the liquid segment is expected to account for the largest share of the lecithin market. The large market share of this segment can be attributed to factors such as ease of use, adaptability, and high stability. Emulsifying oil and water mixtures is a critical process in many food and cosmetic applications that is more accomplished by liquid lecithin.
Based on application, the lecithin market is segmented into food and beverages, pharmaceuticals & nutraceuticals, personal care, animal feed, and other applications. In 2024, the food and beverages segment is expected to account for the largest share of 46.4% of the lecithin market mainly due to the rising demand for processed food products such as dairy products, baked goods, processed meats, and meat analog products and the growing popularity of plant-based food products, including plant-based meat alternatives and vegan dairy products. Additionally, it also acts as an emulsifier, stabilizer, wetting agent, antioxidant, and viscosity reducer in food products, which further supports the growth of the segment.
Based on geography, the lecithin market is majorly segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of 31.3% of the lecithin market, followed by North America and Asia-Pacific. Europe's lecithin market is estimated to be worth USD 585.5 million in 2024. Europe's significant market share can be attributed to several key factors, such as increasing demand for healthy food products, growing demand for natural ingredients in various sectors, growing popularity of plant-based foods, presence of key manufacturers offering products in the region, and soaring demand for animal feed in the region.
Lecithin Market Assessment-by Type
Lecithin Market Assessment-by Source
Lecithin Market Assessment-by Form
Lecithin Market Assessment-by Application
Lecithin Market Assessment-by Geography
(Note: SWOT analyses of the top 5 companies will be provided.)