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Lecithin market size to surpass $1,605 million by 2026, finds report
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Friday, 22 November, 2019, 12 : 00 PM [IST]
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The lecithin market is anticipated to reach over $1,605 million by 2026. This was stated by Global Lecithin Market Report, a new research by Market Study Report, which provided a market overview of the lecithin industry, which covers product scope, market revenue, opportunities, growth rate, sales volumes and figures.
It also explored the worldwide players of the market, and is segmented by region, type and application with forecast to 2026.
In 2017, the soy segment dominated the global market in terms of revenue. Europe was the leading contributor to the global market revenue in 2017. The increasing health awareness in the region, coupled with high disposable incomes, drive the market growth. The increasing demand of Lecithin in the region is owing to high consumer awareness regarding the benefits of lecithin and growing industrial applications.
Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to increasing disposable incomes in developing countries of this region, and the rising demand for lecithin for animal feed, and pharmaceuticals.
A significant increase in awareness regarding healthy diet, changing lifestyles, and health benefits offered by lecithin drive the growth of the market.
Other driving factors include the growing inclination towards use of naturally-sourced products and increasing use of lecithin in medicinal and pharmaceutical applications. Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific, further fuels the growth of the lecithin market.
Factors such as increase in per capita income, changes in consumer behaviour, and increased awareness regarding health and nutrition are expected to accelerate the adoption of lecithin in the coming years.
Increasing demand from developing nations, and growing use in the nutraceutical industry is expected provide numerous growth opportunities to the market players during the forecast period.
The well-known companies profiled in the lecithin market report include Stern-Wywiol Gruppe Pvt Ltd, Lipoid GmbH, E I duPont de Nemours Company, Cargill, Inc, Archer Daniels Midland, Wilmar International, American Lecithin Company, Northland Organic Food Corporation, VAV Life Sciences Pvt Ltd, and Soya International.
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
This report has segmented the global lecithin market based on type, source, application and region.
Lecithin market share and forecast, by type:
- Fluid lecithin
- De-oiled lecithin
- Modified lecithin
Lecithin market growth and forecast, by source:
Lecithin market growth and forecast, by application:
- Food products
- Animal feed
- Pharmaceuticals and personal care
- sIndustrial
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