Global Lecithin Market Size, Share, and COVID-19 Impact Analysis, By Source (Egg, Soy, Sunflower, and Others), By Grade (Food Grade, Pharma Grade, Feed Grade), By Application (Food and Beverage, Feed, Nutrition and Supplements, Pharmaceuticals and Other Applications), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The global Lecithin Market is projected to grow from USD 1.49 billion in 2021 to USD 2.5 billion by 2030 at a CAGR of 6.9% during the forecast period. Lecithin is used to treat a variety of ailments, including Alzheimer's disease and dementia. Also, lecithin is used to diagnose eczema, gallbladder disease, liver disease, high cholesterol, anxiety, and depression. In the production of ready-to-eat meals and processed meats, it can also be employed as a lubricant or emulsifier. The market demand will be fueled by these diverse applications.       

The global lecithin market is predicted to rise steadily throughout the forecast period, due to rising consumer awareness of the need of eating a balanced diet that includes beneficial fats like lecithin. The increasing popularity of lecithin in the pharmaceutical industry and the medical benefits that come with lecithin consumption are expected to contribute in the expansion of the lecithin market.  

COVID-19 ANALYSIS         

During the COVID-19 epidemic, the lecithin market was impacted in two ways: by disrupting the market and supply chain, and by directly influencing demand and production. During this time, the global market has lost a lot of money and has suffered a lot of losses. However, the advent of new initiatives has brought about changes in the worldwide market. The Food and Drug Administration (FDA) has eased labeling standards for some components, such as soy lecithin, during current pandemic. In addition, the FDA stated that items do not need to be labeled as allergens and that soy lecithin is exempt from the list. As a result, throughout the shutdown periods around the world, this type of activity has aided the lecithin industry in rebalancing things. In the current scenario, the global market is predicted to expand rapidly in order to meet the considerable Lecithin Market Size forecasted throughout the forecast period.    

Increasing Demand for Dietary Supplement Propel Market Growth 

Consumers are seeking a variety of dietary supplements to maintain and improve their overall well-being as a result of their healthy lifestyle. As a result, the market for lecithin in the dietary supplement business is being driven by a strong focus on preventative healthcare, as well as strong endorsements and marketing efforts for lifestyle enhancement products. The key element influencing the market is the rise in demand for food ingredients sourced from various natural sources, which is expected to boost the sector. The industry is predicted to grow as a result of a boom in product introductions in response to market demand. For Instance, Lasenor announced the debut of VEROLEC ORGANIC, an organic soya lecithin sourced from the United States and certified organic by the USDA (United States Department of Agriculture). 

Increasing Demand for Convenient and Natural Food Drives Market Growth

The rising demand for functional foods, convenience foods, and beverages is expanding demand for the lecithin industry during the forecast period. The increased demand for green and organic food products is expected to boost the market revenue and expanding opportunities. Customers seek balanced nutrition food options that aid weight loss and solve calorie concerns this is expected to expand market growth in the developing countries.    Furthermore, functional and natural ingredients in food and beverage items give nutritional value, assisting in the preservation of a healthy lifestyle. As a result, demand for de-oiled lecithin is predicted to increase over the course of the study.  

Volatility in Prices of Raw Materials

Fluctuating prices of the raw materials may limit the worldwide lecithin market's growth over the forecast period. Furthermore, strict government rules exist in some places, resulting in product non-uniformity in terms of quality and compliance. The underdeveloped economies have yet to become aware of the situation. Furthermore, the fact that certain people are allergic to soybeans should not be overlooked.  

SEGMENTATION INSIGHT

The Global Lecithin Market is segmented by Source, Grade, Application, and Region. Based on the Source, the market is categorized into Egg, Soy, Sunflower, and Others. Based on Grade, the market is categorized into Food Grade, Pharma Grade, and Feed Grade. Based on Application, the market is categorized into Food and Beverage, Feed, Nutrition and Supplements, Pharmaceuticals and Other Applications. Based on the Region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.      

REGIONAL INSIGHTS   

The Global Lecithin Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.             

North America is predicted to be the fastest expanding region in the global lecithin market, owing to the increased number of health-conscious people in the region who are focused on include nutritional and healthy food products and components in their everyday food. In the approaching years, the lecithin industry is predicted to develop because to increased disposable income among Americans and Europeans. Consumers in the European region prefer the lecithin ingredient generated from sunflower seeds than soybean beans.    

The Asia Pacific region is expected to grow significantly in the worldwide lecithin market over the forecast period, owing to an increased focus on lecithin research and development for increased use in pharmaceutical applications. People in Asia, particularly in China, South Korea, India, and Japan, are likely to spend more on healthcare and nutrition, propelling the lecithin market in the APAC region.

LIST OF KEY COMPANIES PROFILED:     

• ADM
• Cargill, Incorporated.
• Caldic B.V.
• Bunge Loders Croklaan
• Haneil Soyatech Pvt Ltd
• GIIAVA.
• Lipoid GmbH
• Orison Chemicals Limited
• Foodchem International Corporation
• Wilmar International Ltd
• LECICO GmbH 
• Imcopa Food Ingredients
• Ruchi Soya Industries ltd.
• Sun Nutrafoods
• Clarkson Specialty Lecithins

 KEY INDUSTRY DEVELOPMENTS:    

· In September 2021, BIC Ingredients, a supplier of non-GM specialised lecithin and lecithin compounds, was acquired by AAK.

· In March 2021, Lecico and Ciranda established North American distribution collaboration for lecithin and phospholipids with a focus on clean label food trends and local commercial and technical assistance.

• In April 2021, Strenchemie announced the launching of soy lecithin dairy substitutes for the European market in February 2021. The FDA issued a GRAS no objection letter for the company's line of sunflower-based lecithin. 

SEGMENTATION

By Source

• Egg
• Soy
• Sunflower
• Others

By Grade

• Food Grade
• Pharma Grade
• Feed Grade

By Application

• Food and Beverage
• Feed
• Nutrition and Supplements
• Pharmaceuticals
• Other Applications

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America 
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa