According to Future Market Insights (FMI), by the end of 2023, value of the lecithin market is projected to reach US$ 1,682.4 million. A significant CAGR of 7.0% is anticipated between 2023 and 2033. It is expected to positively impact the market in 2033, with a valuation of US$ 3,118.5 million.
Growing consumer awareness of healthy living and the need for products that are organically sourced and green are two key factors propelling the global market.
Growing consumption of functional foods and beverages, as well as convenience foods, is driving the lecithin business even more. An additional factor driving sales is the anticipated increase in demand for organic food items.
The lecithin market is anticipated to grow significantly in developed nations as customers search for dietary options that support weight loss and address calorie issues.
“Customers from several industries are increasingly demanding lecithin made from natural sources as they become more aware of numerous uses for the substance. Given the abundance of available raw materials, firms are concentrating on exploiting a variety of resources to diversify their product lines.” – Nandini Roy Choudhury, Client Partner at Future Market Insights
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Functional and natural ingredients in food & beverage products offer a nutritional dimension that helps maintain a balanced lifestyle. It is anticipated to augment lecithin demand in the next ten years.
Lecithin is used in numerous food products such as confectionery, chocolate, dairy products, and salad dressing. It is found in ready-to-eat food items owing to its ability to act as an emulsification agent.
Emulsifier agents aid in binding oil & water together and keep fat separate. Lecithin is hence used in various creamy foods which have high oil content. For example, it keeps a chocolate bar held together by retaining the cocoa butter and cocoa solids attached to each other.
Lecithin is also used to add moisture, preserve foods, and provide products with a long shelf life. Versatile use of lecithin in the food industry is anticipated to accelerate its demand by 2033.
Key Takeaways from the Lecithin Market Report:
- The global demand for lecithin expanded at a CAGR of 5.6% in the historical period from 2018 to 2022.
- The United States lecithin industry is estimated to cross a valuation of US$ 795.0 million by 2033.
- India lecithin industry is anticipated to showcase a CAGR of 10.2% in the next ten years.
- The unrefined lecithin segment by product type is likely to reach a valuation of US$ 1,843.3 million in 2033.
- By form, the powder segment is expected to surpass a market valuation of US$ 2,221.5 million in 2033.
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Competitive Landscape
Marketing & branding efforts are important strategies for lecithin manufacturers to differentiate their products from competitors and create a strong brand identity. It could involve promoting the health benefits of lecithin, highlighting its role as a natural ingredient, or targeting specific customer segments with tailored messaging.
Manufacturers might also focus on expanding their product lines or entering new markets to drive growth. It could involve developing new lecithin-based products such as functional foods or supplements, or entering niche geographic markets where there is high demand for lecithin.
For instance,
- AAK began offering Akolec in February 2021, which is a range of plant-based lecithin emulsifiers produced from soybean and sunflower oils. These emulsifiers are designed to improve the processing, functionality, and nutritional value of various food & beverage products such as baked goods, confectionery items, and sweetened drinks.
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Lecithin Market Outlook by Category
By Product Type:
- Refined Lecithin
- Chemically Modified Lecithin
- Unrefined Lecithin
- Soybean Lecithin
- Sunflower Lecithin
- Rapeseed Lecithin
- Others (Corn Lecithin)
By Nature:
- Genetically Modified (GMO)
- Non-GMO
By Form:
- Powder
- Granules
- Liquid
By Function:
- Emulsifier
- Dispersing Agent
- Surfactants
- Others
By Application:
- Bakery & Confectionery
- Infant & Dietetic Food Products
- Dairy Products
- Meat & Poultry Items
- Other Processed Foods
- Instant Foods
- Dietary Supplements & Pharmaceuticals
- Animal Feed
- Cosmetics
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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