Global Lecithin Market To Generate Revenue worth $2,490.19 Million by 2030

The global lecithin market is projected to generate $2,490.19 million revenue by 2030, advancing at a CAGR of 6.8% during 2021–2030. This can be attributed to the increasing prevalence of lifestyle-related health problems, such as cardiovascular disease, osteoporosis, obesity, and diabetes, the high usage of this substance in medicine manufacturing, and the increasing demand for food with a low fat content. Moreover, the growing demand for animal feed additives, owing to the growing global meat consumption, propels the market growth.

Unrefined Lecithin Contributes Majority of Revenue

Based on product type, the market is categorized into unrefined, refined, and chemically modified. Among these, the unrefined category accounted for the largest revenue share in 2021, and it is expected to dominate the market during the forecast period. This is due to the growing need for organic and natural products, rising baked food consumption, and increasing usage of cosmetic products in emerging economies. Moreover, this unrefined product can be sourced from soybean, sunflower, and rapeseed and has an expansive application base in multiple industries.

Based on form, the liquid category accounted for the largest revenue share in 2021, and it is further expected to maintain its position during 2021–2030. This can be ascribed to the high demand for liquid lecithin in the cosmetics, industrial coatings, confectionary, and a host of other sectors. Moreover, its wide usage in food products, majorly dietary supplements, drives the market.

The non-GMO category, based on nature, will witness the faster growth during the forecast period. This is due to the increasing focus of manufacturers on organic products and the extensive usage of the non-GM variant in the production of foods and beverages.

Geographically, Europe held the largest revenue share, of more than 30%, in 2021, and it is expected to maintain its position during the forecast period. This is due to the large number of manufacturers, increasing focus on a healthy lifestyle, coupled with increasing instances of critical diseases, and favorable government regulations and protocols for phospholipids. Moreover, Germany contributes the majority of the revenue to the market, owing to the increasing count of pharmaceutical, ready-to-eat food, and confectionary factories, high investment in R&D by market players, and rising usage of lecithin in the cosmetics industry.

Furthermore, APAC will register significant growth during the forecast period. This can be attributed to the growing end-use industries, rising disposable income and standard of living, and increasing investment by prominent players to establish manufacturing sites, due to the cheap labor availability in the region. Additionally, the fast production growth of animal nutrition products in India, China, and South Korea is likely to provide significant opportunities to the lecithin market in the region.

North America also held a substantial revenue share in 2021, and it is expected to grow with a significant CAGR during the forecast period. This is due to the increasing aging population, high production of nutrition and health supplement products, and well-developed healthcare sector.

Major players in the market are Cargill Incorporated, Archer Daniels Midland Company, Lipoid GmbH, American Lecithin Company, Global River Food Ingredients Inc., Tianjin Hexiyuan Lecithin Technology Co. Ltd., Barentz International BV, and Sime Darby Oils Zwijndrecht Refinery B.V.