Soy and egg yolk are considered to be the most common sources of lecithin. Major soybean-producing countries such as the United States, India, Brazil, and others have plenty of raw materials for lecithin producers.
Varied end user industries are displaying increased demand for naturally-derived lecithin. Manufacturers are focused on broadening their product portfolio, and increasing their R&D spending to introduce new products. According to FMI’s analysis, the global Lecithin Market reached a size of over US$ 1.1 billion in 2021. The market is further projected to expand at a CAGR of 6.7% over the forecast period of 2021-2031.
The consumer understanding of healthier lifestyles, and the demand for convenience foods, functional foods, and beverages is driving the lecithin market. The industry is also expected to benefit from the increasing demand for organic food products. With customers looking for food choices that promote weight loss and resolve calorie concerns, the lecithin market in developing countries is expected to grow significantly.
With emulsifier applications, lecithin prevents different interactions between fats and oils and other ingredients. Lecithin finds roles in boosting cardiac health, lowering cholesterol, and improving brain function pathways, among others. Further, choline derived from lecithin can help people with Alzheimer’s disease enhance their cognitive function.
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Egg lecithin is widely used in the pharmaceutical and cosmetic industries. It is considered safe for use by the FDA. As a result, the widespread use of lecithin in the pharmaceutical industry would also fuel global demand for lecithin.
Lecithin has also proven to display a number of skincare benefits, including colour and texture of the skin. High levels of antioxidants and natural moisturiser characteristics drive incorporation in a variety of cosmetic products.
Key Takeaways from Lecithin Market Study
- Soy-based lecithin will account for major market share owing to an abundance availability of soy as raw material
- Food processing applications will reflect strong growth owing to scope of multiple processes in the sector
- Lecithin demand to surge in America, enabling the U.S. account for over 75% of sales in 2021
- The U.K. emerges as key lecithin market in Europe, exhibiting 3.7% y-o-y growth in 2021
- Increasing focus on natural ingredients, especially in food, cosmetics, and pharmaceutical industries will fuel demand in Germany and France
- China will emerge as a lucrative market in East Asia owing to high soy production and consumption
“Several manufacturers are responding to the growing demand for lecithin by developing new, high-quality products for a wider consumer demographic. Major players invest heavily in research and development efforts, resulting in the influx of new offerings in recent years, all of which have increased sales,” – said a lead analyst at FMI
Application of Lecithin in Pharmaceuticals Opens Niche Opportunities
The growing use of lecithin in pharmaceutical companies has created a huge market for associated products. The pharmaceutical industry is seeing a rise in the use of phospholipid, which is a key component of fractionated and highly purified lecithin.
It is valued for its use as a scientific excipient in the manufacture of pharmaceuticals. The natural phospholipid is favoured over synthetic alternatives owing to ease of use, low cost, and regulatory acceptance. Because of the nutritional benefits associated with lecithin, it is used in protein supplements and infant formulas.
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Who is winning?
Some of the key players operating in the Lecithin market are, Lecio Gmbh, Archer Daniels Midland Company, VAV Life science Pvt. Ltd., Sonic Biochem, American Chemie Inc., Americal Lecithin Company, Fishmer Lecithin, Lasenor Emul, Sodrugestvo Group, Kewpie Corporation and other players.
Strengthening partnerships in high growth regions and product innovation to meet evolving consumer demand for natural and plant-based ingredients in food products are factors boosting demand in the lecithin market.
Leading players in the lecithin market are focused largely on widening their product portfolios in addition to seeking strategic partnerships for regional production and distribution objectives by market leaders.
Get Valuable Insights into Lecithin Market
Future Market Insights, in its new report, presents an unbiased analysis of the Lecithin, covering historical demand data and forecast figures for the period between 2021 and 2031. The study divulges compelling insights into the growth witnessed in the market. Based on the Lecithin Market based on product type, has been classified into Fluid, De-oiled, Modified. Based on the source, the Lecithin market is segmented into Soy, Sunflower, Rapeseed, Egg and Others. In terms, the application has been classified Food, Pharmaceuticals, Cosmetics, Animal Feed, Nutraceuticals and Others. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa.