Define Lecithin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2020 - 2027)
Lecithin is a substance or a mixture of phosphatides which is predominantly made up of phosphatidyl ethanolamine, phosphatidyl serine, phosphatidylcholine, and phosphatidyl inositol coupled with numerous other substances such as carbohydrates and fatty acids. It also comprises of nitrogenous and phosphorous compounds. These are generally found in vegetables, soya bean, egg yolk, and a naturally occurring emulsifier. They are non-toxic in nature and hence can be utilized in food, nutrition & supplements, animal feed, and pharmaceuticals & personal care as aerating agents, lubricants, emulsifiers, and viscosity modifiers.
Some of the prominent factors that positively
influence the growth of the Define Lecithin Market are increasing agricultural activities in emerging
economies, rising consumer spending on personal care products, and growing
consumption of convenience foods. Furthermore, rising consumer awareness along
with increasing health concerns has raised the demand for phospholipids, which
in turn has raised the consumption of lecithin based medical products, which is
further predicted to drive the growth of the market.
Increasing sports and physical activities along with
growing number of gym and fitness clubs has propelled the demand for nutrition
& supplement, which in turn is predicted to fuel the growth of the market
over the forecast period. Moreover, rising population along with increasing
production of high-quality crops has resulted in the production of lecithin
which is estimated to propel the growth of the market. However, fluctuating
price of lecithin in the global market is predicted to hinder the growth of the
market.
Regional Analysis:
Europe is estimated to be the largest market for
lecithin followed by North America and Asia Pacific due to rising demand from
numerous end-use industries such as cosmetics, pharmaceutical & personal
care, and agriculture among others. Asia Pacific lecithin market is estimated
to witness a strong growth owing to the continuous growth of various end-use
applications. In Asia Pacific, some of the prominent factors which contribute
to the regional market growth are increasing economic growth rate, competitive
manufacturing costs, and ease of availability of raw material. North America is
estimated to witness a steady growth over the forecast period on account of
increasing demand from the nutrition & supplements application. Developing
countries of Latin America and the Middle East and Africa is predicted to
witness moderate growth due to increasing end use application.
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Market Segmentation:
The global lecithin market is segmented on the basis
of source, application, and region. On the basis of source, the market is
categorized into sunflower, soya bean, egg, and others. Others source include
rice and maize. Among these, soya bean accounted for the largest market share
in 2016 and holds for around 45% market share due to the wide utilization of
these in the production of lecithin. Moreover, increasing demand for sunflower,
rice, egg yolks, and various food used to manufacture lecithin is anticipated
to enhance the demand for pharmaceutical further which is likely to propel the
growth on the market. On the basis of application, lecithin market is further
segmented into pharmaceuticals & personal care, food, animal feed,
nutrition & supplements, and others. Pharmaceuticals & personal care
segment is estimated to grow with the healthy CAGR due to increasing awareness
regarding the lecithin along with the wide use of personal care products in the
developing countries.
Competitive
analysis:
The major players operating in the lecithin market
are Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.),
American Lecithin Company (U.S.), Lipoid GmbH (Germany), DuPont (U.S.), Bunge
Limited (U.S.), Stern-Wywiol Gruppe GmbH & Co. Kg (Germany), Avanti Lipids
Polar, Inc. (U.S.), Lasenor Emul S.L. (Spain), Lecico GmbH (Germany), Vav Life
Sciences Private Limited (India) among others.
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