According to a new research report by Global Market Insights Inc., Lecithin Market size is estimated to surpass USD 3.4 Billion by 2030.
Rising consumer inclination towards the consumption of various bakery products like bread, pastries, and cakes is anticipated to foster lecithin demand. Emulsifying properties of lecithin are expected to boot its usage in pharmaceutical and cosmetic industries which will eventually drive the business growth over the forecast period. Lecithin is majorly used in the manufacturing of numerous confectionary products such as fudges, chocolates, caramels, and toffee owing to its flavor protective and antioxidant properties which have positively impacted its demand in the food industry. Additionally, the huge demand for lecithin in the pharmaceutical industry for the treatment of disorders such as dementia in Alzheimer’s disease as well as gallbladder illnesses, certain types of depression, high cholesterol, and skin disease eczema is boosting the industry growth.
Lecithin is also majorly used to produce an extensive range of cosmetic products such as lotions, creams, hair shampoos, lipstick, and soaps. Lecithin acts as an exceptional skin restorative agent and moisturizer where it can penetrate the epidermis and carry substances to the right cell level thus boosting the product demand at the global level. Also, the growing cosmetics market in the Europe and Asia Pacific region is expected to boost the product demand.
The rapid increase in the usage of sunflower lecithin by end-use industries such as food & beverages, pharmaceuticals, and cosmetics to drive the lecithin industry statistics
Lecithin market from sunflower source is set to witness a CAGR of over 6% up to 2030. Sunflower lecithin is used as an alternative to soy lecithin as it is allergen-free, non-genetically modified, and processed without chemicals. It is also a natural emulsifier, aiding in the reduction of harmful body fats and protecting red blood cells. Rising consumer propensity to shift towards products manufactured from naturally derived ingredients, rising disposable income, and stringent regulation towards chemical concentration in cosmetic, and food & beverage industry.
Sunflower lecithin market size from food & beverage applications is anticipated to reach over USD 395 million by 2030. Sunflower lecithin is widely utilized in confectionery products owing to the rich concentration of phosphatidylinositol, vitamin, and vitamin E. The market for sunflower lecithin is expected to witness favorable growth due to the development of the global bread & bakery industry coupled with changing dietary patterns. Also, the utilization of sunflower lecithin in bakery formulations to maintain dough elasticity and to increase the fluffiness in end products such as bread, muffins, croissants, cakes, and pastries.
Sunflower lecithin industry from cosmetic application is set to register a CAGR of over 4.5% from 2022 to 2030. Rising consumer proclivity toward high-quality, exotic, aromatic, and naturally derived ingredients in cosmetic preparations may boost market share. Sunflower lecithin is widely used as a base in cosmetic preparations owing to its compatibility with organic ingredients such as honey, rose water, aloe vera, and almond oil. Rising consumer awareness towards dermatological aspects of overall health, rising inclination towards high-quality cosmetics, and rising inclination in millennials to opt for anti-aging products.
Browse key industry insights spread across 410 pages with 1036 market data tables & 45 figures & charts from the report, “Lecithin Market Size by Source (Soy [GMO, Non-GMO], Rapeseed/Canola, Sunflower, Egg Yolk), By Application (Food & Beverages, Animal Feed, Industrial, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Increasing per capita disposable income coupled with rising demand for natural skin care products is projected to propel the North America lecithin market statistics
North America emerges as one of the fastest growing markets for lecithin across the globe. North America driven by Mexico, Canada, and the U.S. is expected to register a CAGR of more than 6% up to 2030. The rapid increase in cosmetic products and disposable income in different countries of the region accompanied by the demand for skincare products will accelerate the regional lecithin market size. The need for lecithin will increase because customers are increasingly interested in natural, ethical, and vegan cosmetic goods. The demand for the product is most likely being driven by increased disposable income and the availability of several upscale skincare brands with exclusive storefronts.
Major industry players operating in the lecithin industry include Archer Daniels Midland (ADM), Cargill, International Flavors & Fragrances (IFF), Bunge Limited, GIIAVA, Ruchi Soya, Wilmar International, Lipoid GmbH, American Lecithin Company (ALC), Thew Arnott & Co. Ltd., Sternchemie Gmbh & Co.KG, Sodrugestvo, DowDuPont, LEKITHOS, LECICO, and SOYA International. The key strategies observed among the industry participants include new product launches, joint ventures, acquisitions, and expansion.