Lecithin Market Growth, Demand, Growth Opportunities, Industry Revenue, Future and Business Analysis
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 Growth 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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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.
Competitive analysis:
The major players operating in the lecithin market growth 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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