Lecithin Market Size

Lecithin Market Size

Lecithin Market size exceeded USD 2 Billion in 2021 and is estimated to grow at over 5.5% CAGR from 2022 to 2030. Increasing consumer inclination towards functional and fortified food products owing to the ongoing trend of a healthy lifestyle has positively influenced lecithin business during the forecasted timeframe.

Lecithin is composed of phospholipids naturally derived from soy, sunflower, and rapeseed. The blending properties of lecithin propel its usage in the pharmaceutical, cosmetics, and food & beverage industries.
 

Food & beverage industry value had exceeded USD 8 trillion in 2020 with an inclination toward health beneficial and fortified foods, which has augmented the consumption of lecithin products. Further, the rising demand for ready-to-eat products along with changing dietary preference for low sugar, low fat, and organic baked products is expected to positively influence the business growth. Additionally, the rise in economic standards accompanied by technological innovations and new shopping trends in online retail as well as food services is likely to drive the industry’s growth.
 

Fast-paced lifestyle, growing urbanization, and increasing employment amongst women have enhanced the dependency on readymade and packaged foods thus propelling the consumption of lecithin. Favorable government regulations and protocols for phospholipids have boosted lecithin use in food application in the European region. Also, the rapid increase in cosmetic products and increasing disposable income in the U.S. accompanied by the demand for skin care products. The growing demand for natural products in skincare will foster the lecithin market statistics, as lecithin can be metabolized by humans and are non-toxic. Additionally, the shifting focus of manufacturers toward R&D activities to develop more efficient products and expand business in the potential application industry.
 

The COVID-19 outbreak has also affected business growth in its initial phase. Owing to severe lockdown and pause in the supply chain the lecithin market has faced a decline in growth all over the world. Also, the slowdown in the food & beverage sector post-pandemic has majorly impacted the demand for lecithin globally.