Lecithin Industry to Reach $2.91 Billion by 2031
Meticulous Research® has released its latest 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 report projects that the lecithin market will reach $2.91 billion by 2031, growing at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The growth of the lecithin market is driven by the increasing demand for natural and functional ingredients, the rising prevalence of lifestyle-related health issues such as cardiovascular diseases and diabetes, and the growing consumption of processed food and beverages. Additionally, the market is benefiting from increased awareness of phospholipids’ health benefits. However, the market faces challenges from the availability of synthetic alternatives and soy allergies.
The report also identifies growth opportunities in the personal care industry and emerging markets, despite challenges such as fluctuating raw material prices and limited consumer awareness about lecithin. The growing trend toward non-GMO and clean-label products is expected to impact the market significantly.
The lecithin market is segmented by type, source, form, application, and geography. The unrefined segment is expected to hold the largest market share by 2024, driven by its use in food additives and cosmetics. Soy is projected to dominate the market as the leading source of lecithin, due to its availability and cost-efficiency. Liquid lecithin is anticipated to lead the form segment, owing to its versatility and stability. The food and beverages sector is expected to capture the largest market share, driven by the demand for processed and plant-based food products.
Geographically, Europe is expected to be the largest market for lecithin by 2024, followed by North America and Asia-Pacific
Key Players:
The lecithin market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the 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).
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Key Questions Answered in the Report-
- What is the value of revenue generated by the sale of lecithin?
- At what rate is the global demand for lecithin projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the lecithin market?
- What are the major factors impacting the growth of this market at global and regional levels?
- What are the major opportunities for existing players and new entrants in the market?
- Which type, source, form, and application segments create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the lecithin market?
- Who are the major players in the lecithin market? What are their specific product offerings in this market?
- What recent developments have taken place in the lecithin market? What impact have these strategic developments created on the market?
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