The Lecithin And Phospholipids Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Lecithin And Phospholipids Global Market Report 2024, The lecithin and phospholipids market size has grown strongly in recent years. It will grow from $1.66 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to food and beverage industry growth, pharmaceutical applications, cosmetics and personal care products, animal feed additives, health supplements..
The lecithin and phospholipids market size is expected to see strong growth in the next few years. It will grow to $2.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to consumer preferences and awareness, environmental concerns and sustainability, biodiesel production, industrial applications expansion, animal nutrition demand.. Major trends in the forecast period include regulatory compliance and quality assurance, customized industrial applications, expanded applications in cosmetics, green and sustainable practices, enhanced emulsification and stabilization..
The increasing application within the bakery products, confectionery products, and food industry is expected to propel the growth of the lecithin and phospholipids market going forward. The use of lecithin and phospholipids in bakery, confectionery products, and the food business use to improve the quality of biscuits, wafers, and other bakery goods, along with the extensibility of gluten. It improves the elasticity and consistency of baking dough and make it easier to handle allowing less nutritious fats to be substituted without changing the texture of the food. For an instance, in July 2021, the according to the data published by LASENOR, an India-based, global, and innovative brand engaged in the manufacturing of food emulsifiers and lecithin, the lecithin employed in foodstuff for the food industry, recorded 54k tons of production in 2020, which increased to 98k tons in 2021. Therefore, the increasing application within the bakery products, confectionery products, and food industry is driving the growth of the lecithin and phospholipids market.
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The lecithin and phospholipids market covered in this report is segmented –
1) By Type: Fluid, De-oiled, Modified
2) By Source: Soy, Sunflower, Rapeseed, Egg, Other Sources
3) By Nature: GMO, Non-GMO
4) By Application: Feed, Food, Baked Goods, Confectionary Products, Convenience Food, Nutritional Supplements, Industrial, Cosmetics, Pharmaceuticals, Other Applications
The development of methods to produce lecithin and phospholipids from renewable sources, is a key trend gaining popularity in the lecithin and phospholipids market. Major players operating in the lecithin and phospholipids sector are focused on developing innovative methods to produce lecithin and phospholipids from renewable sources, to sustain their position in the market. For an instance in April 2022, Louis Dreyfus Company, a Netherlands-based food, and beverages manufacturing company inaugurated its new soy liquid lecithin plant, which focused on the production of soy lecithin via the soybean processing method and lecithin refining operations along with a food-grade packaging line and canola oil distribution facility. The plant can process 1.75 lakh buses of soybeans per day.
The lecithin and phospholipids market report table of contents includes:
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