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Lecithin is a fat type, that is crucial for the body and is present in several foods, such as egg yolk, soybeans, and others. The application of lecithin has increased crucially in the past few decades due to its advantageous health benefits. Globally, most commercial lecithin is derived from raw materials such as soybean and egg yolk. Other raw materials such as cottonseed, corn germ, palm and palm derivatives, and coconut oil contain a low level of lecithin content where commercial extraction is non-economical.
The global lecithin market is expected to witness continuous growth during the forecast period, owing to increasing consumer awareness towards the consumption of nutritional diet, including healthy fats such as lecithin. Factors such as the growing popularity of lecithin in the medicine industry and health benefits associated with lecithin consumption is projected to aid in the growth of the lecithin market in the forthcoming years.
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Furthermore, the rise in demand for functional, convenient and natural food is also expected to contribute positively to the growth of the lecithin market. However, religious constraints associated with consumption of lecithin, coupled with fluctuating prices of the raw materials used for its production can hinder the growth of global lecithin market over the forecast period.
Multifunctionality and a wide range of applications of lecithin mark it as a premium product among the products & by-products obtained during the processing of edible oils. Plant lecithins are an invaluable ingredient in today’s food, feed, cosmetic, pharmaceutical, and other application areas. Lecithin serves as a valuable wetting agent and nutrient in the aquaculture industry. Even lecithin find application in industrial sectors such as paint, leather processing, textiles, and herbicides.
Some of the key companies that are present in the global lecithin market include Haneil Soyatech, Cargill Inc., Archer Daniels Midland Company, Sime Darby Unimills, Soya International, Global River Food Ingredients, and DowDuPont.
· Sunflower seed
· Food Grade
· Pharma Grade
· Feed Grade
· Food & Beverages
· Animal Feed
· Other Applications
· North America (USA, Canada, and Mexico)
· Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe)
· Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
· South America (Brazil, Argentina, and Rest of South America)
· Middle East & Africa (South Africa and Rest of MEA)
Among sources segment, the soy segment is projected to hold dominance during the forecast period, owing to its high economic output from the raw material. Increased consumption of meat and meat products has led to an increase in demand for industrial poultry products of superior quality. Lecithin, being a good source of energy and important amino acids can escalate poultry productivity. Lecithin is also used in feed industry as emulsifier in milk replacers for feeding piglets and calves. The health benefits offered by soy and soy products are increasing consumer preference and is therefore anticipated to help the market for lecithin grow significantly in the coming years.
Among segmentation by application type, animal feed is anticipated to hold a major market share in the global lecithin market during the forecast period due to the scaling up in the utilization of lecithin in animal feed as emulsifiers. The food & beverage segment is expected to be performing decently in the global lecithin market, owing to increased use of lecithin for the production of confectionary products.
North America is expected to be the fastest growing region in the global lecithin market, due to the rising number of health-conscious population in the region, who is focused on adding nutritional and healthy food items and ingredients in their regular food. Higher disposable income of American and European population is expected to propel the growth of the lecithin market in the forthcoming years. European region consumers majorly prefer the lecithin ingredient derived from the sunflower seed over soybean soured.
Asia Pacific region is projected to be witnessing significant growth over the forecast period in the global lecithin market, due to the increasing focus on research & development of lecithin for its more expanded utilization in pharmaceutical applications. Growing healthcare and nutrition expenditure of people in Asia countries, especially in China, South Korea, India, and Japan are expected to propel the growth of the lecithin market in the APAC region.