The lecithin and phospholipids market is valued at USD 1.7 billion in 2023. The market is expected to reach a valuation of USD 3.3 billion by 2033, and is projected to grow at a CAGR of 7.1% during the forecast period.
Lecithin and phospholipids are being mainly used across the healthcare sector. There are primarily recommended by the neurologists to treat Alzheimer’s. Apart from that, these are also used for the treatment of cholesterol, BP, anxiety, etc. These are also abundantly available in the natural form, which makes these elements easy to access.
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The fast-growing convenience food market and fast-food market might also surge the demand for lecithin and phospholipids. Their ability to act as antioxidants and flavor protectors is expected to surge their market share during the forecast period. They are also being utilized in the beverages because of assisting in lump reduction and giving a fine texture.
Urbanisation has led to a lot of people coming out of the traditional patterns. Thus, instead of cooking food by themselves, the fast-moving lifestyle has in a way motivated people to consume food from the quick service restaurants. These restaurants are known to make use of soy on a large-scale basis. Based on the research, even the quick service restaurants might exhibit massive growth in the coming years. These factors might surge the sales of lecithin and phospholipids.
The ability to act as emulsifiers is leading to the large-scale application of lecithin and phospholipids in chocolate industry. Furthermore, they also assist in moisturizing the consumables, and increase their shelf life. These properties have created a lot of buzz amongst the key players in the food industry.
Furthermore, a lot of key players are also investing on the development of liquid lecithin and phospholipids plants. The purpose is to scale up the production of these elements, and cut down the existing demand supply gap.
However, the side effects which include allergy, and an increase in the price of raw materials is expected to hinder the progress of the market.
Key Takeaways:
- The market is anticipated to grow at a CAGR of 7.1% in 2023-2033.
- In 2023, the market is valued at US$ 1.7 billion.
- As of 2033, the lecithin and phospholipids market is projected to reach a valuation of US$ 3.3 billion.
- Based on the regional analysis, Asia Pacific is expected to be the largest market.
- USA market is projected to grow at a CAGR of 6.5%.
- UK market is anticipated to grow at a CAGR of 4.8%.
- China market is expected to grow at a CAGR of 10.3%.
- Japan lecithin and phospholipids market is projected to surge at a CAGR of 11%.
- South Korea market might advance at a CAGR of 8.6%.
- Based on the product type, the chemically modified lecithin is expected to hold the largest market share during the forecast period, and is projected to grow at a CAGR of 7.8%.
- On the basis of form, the powder segment is projected to hold the highest market share during the forecast period, and is anticipated to grow at a CAGR of 7.2%.
Competitive Landscape
The key players operating in the lecithin and phospholipids market are looking for production expansion. Apart from that, there are also measures being taken to carry out profitable mergers. There is also a massive investment that is being made in the technological aspect of the business. The key players are also making massive investments in the R&D to give special focus on the quality management.
In February 2022, Lecico was the proud recipient of Platinum medal by EcoVadis for its sustainability actions.
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Lecithin and Phospholipids Market Segmentation
By Product Type:
- Unrefined Lecithin (Soybean Lecithin, Sunflower Lecithin, Rapeseed Lecithin, Others),
- Refined Lecithin,
- Chemically Modified Lecithin
By Form:
- Powder,
- Granules,
- Liquid
By Nature:
- GMO,
- Non-GMO
By Function:
- Emulsifier,
- Dispersing Agent,
- Surfactants,
- Others
By Application:
- Bakery & Confectionary,
- Dairy Products,
- Infant & Dietetic Food Products,
- Meat & Poultry Items,
- Instant Foods,
- Other Processed Foods,
- Dietary Supplements & Pharmaceuticals,
- Cosmetics,
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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