Lithium Hexafluorophosphate Market Size will grow at a CAGR During 2021-2027

October 03, 2021

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 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.

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.

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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.

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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