In 2014, the global lecithin market valued at $787.7 million, and is projected to show a significant growth, by witnessing a CAGR of 5.4% in the forecast period (2015–2020). This prominent growth rate is ascribed to the increasing demand for convenience and low-fat food across the globe.
Insights on market segments
Cosmetics are expected to be the fastest growing application area for lecithin, in the forecast period. On the basis of geography, the Asia-Pacific (APAC) region is expected to witness high volume investment in food and cosmetics, and health & nutrient supplement industries, which is expected to offer traction to the growth in APAC lecithin market. These two industries are expected to act as primary demand sources owing to its differentiated array of applications in both cosmetic products (conditioners, lipsticks, and creams) and food products (chocolate, cheese, and baked food products).
Europe is the largest revenue generating market for lecithin
Based on the geography, European lecithin market held the largest market value in the global market for lecithin, in the historical period. This significant market is ascribed to the growing demand for lecithin in various industries such as animal feed, cosmetics, processed food, and health and nutrition industry. Along with the growth in these two industries, several other factors also have been impacting the European lecithin market growth include the surge in meat consumption, and growing awareness about meat quality and dairy products, globally.
Demand for processed food drives market growth
The major driving factor in the lecithin market, is the consumer spending nature on the processed food. In addition, several other factors including increasing demand for novel ingredients which cut fat proportion from processed food. Further, the increasing use of sunflower oil wherein it is the source of lecithin, by major players due to increased demand in the bakery industry is also driving the lecithin market growth. Thus, the multifunctional and flexible nature of lecithin, which helps increase its adoption in end-user industries acts as a driving factor in the global lecithin market growth.
Chocolate manufacturers generate ample opportunities for the market growth
Manufacturing of several food products such as chocolate, baked food, and cheese products, uses lecithin as emulsifying agent. Further, several manufacturers have been expanding their manufacturing facilities to widen their market shares, which in result, generating ample opportunities for the global lecithin market.
The major market players in the global lecithin market are Sternchemie GmbH & Co. KG, Ruchi Soya Industries Ltd., Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, Aceitera General Deheza S.A., VAV Life Sciences Pvt. Ltd., Lipoid GmbH, Lasenor Emul S.L., Kewpie Corporation, and Cargill Incorporated.
Browse the Report Summary at: https://www.psmarketresearch.com/market-analysis/lecithin-market
The information and data in the publication “Global Lecithin Market Size, Share, Development, Growth and Demand Forecast to 2020”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of top-down and bottom-up approach has been used to calculate the market size. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Availability of substitutes obstructs market growth
The availability of multiple substitutes, including mono- and di-glycosides, poly glycerol polyricinoleate, sucrose esters, poly glycerol esters of fatty acids, and sorbitan esters, acts as a major restraint for the lecithin market. Along with that, growing prices of raw materials, including egg, soybean, and sunflower, is also expected to restrain the market growth during the forthcoming period.