Latest Regulatory Trends Impacting the Lecithin & Phospholipids Market

Northrook, IL -- (SBWire) -- 02/11/2020 --The global lecithin market was valued at USD 1.15 billion in 2018 and is projected to reach USD 1.59 billion by 2023, at a CAGR of 6.7% during the forecast period. The global phospholipids market was valued at USD 3.23 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 6.2% during forecast period. The lecithin market is driven by the increased demand for lecithin in the feed segment, around the globe. Apart from this, the growing preference for lecithin in industrial applications owing to the need for biodegradable substances is expected to boost the sales of lecithin in this emerging application. Countries such as Ukraine, Russia, Japan, South Korea, China, and India are expected to create lucrative opportunities for lecithin & phospholipid manufacturers to expand their product offerings in the coming years. Increased demand for cosmetics in European and Asia Pacific countries is expected to be a potential growth opportunity for phospholipid manufacturers due to the preference for natural ingredients.

Based on source, the sunflower segment of the lecithin market is projected to grow at the highest CAGR, in terms of value, during the forecast period. GMO concerns in soy lecithin have prompted consumers to opt for alternate sources such as sunflower lecithin. This has created opportunities for manufacturers in countries such as Ukraine, Russia, and Argentina, which are the largest producers of sunflower lecithin. Despite the high demand for sunflower lecithin, its supply is still not sufficient. Hence, the growing popularity of sunflower lecithin is expected to result in rapid growth during the forecast period.

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Based on application, the feed segment of the lecithin market is projected to grow at the highest CAGR in terms of value, during the forecast period, making it a key revenue pocket for lecithin industry players. China is expected to be a high growth market for lecithin manufacturers. Increased demand for processed meat and rise in the preference for protein-rich diets owing to increasing household incomes are expected to drive lecithin usage in the feed market of the country. According to an article published by the Organisation for Economic Co-operation and Development (OECD), China is expected to become the leading consumer of pig meat on a per capita basis, at a global level, surpassing the European Union (EU) by 2022. Additionally, the booming aquaculture industry in the country is expected to create opportunities for lecithin manufacturers in the coming years.
On the other hand, in the phospholipids value market, nutrition & supplements is projected to grow at the highest CAGR during the forecast period. Developed countries such as the US, Canada, and the UK are expected to be major consumers of nutrition & supplement products owing to the rise in obesity rates in these countries. Apart from this, consumers in emerging economies of Asia Pacific such as China, India, Indonesia, and Vietnam are expected to spend considerable amounts on healthcare products in the coming years, making Asia Pacific the fastest-growing market in the nutrition & supplements segment.

In terms of value, Asia Pacific is projected to be the fastest-growing region for lecithin as well as phospholipids during the forecast period. The growing trend of increased convenience food consumption and bakery and confectionery products is expected to drive the lecithin market in the region. In the phospholipids market, growing demand for personal care products such as soaps, shampoos, and other grooming products is expected to boost demand in this region. Thus, the application of lecithin & phospholipids in food, pharmaceuticals, animal feed, and nutraceuticals is the major factor that drives the growth of the market, globally.

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The market for lecithin & phospholipids is dominated by key players such as include Cargill (US), ADM (US), Stern Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US). Other players include Lipoid GmbH (Germany), Wilmar International (Singapore), Sonic Biochem Extractions (India), Avanti Lipids Polar (US), Lecico (Germany), VAV Life Sciences (India), Sodrugestvo (Luxembourg), Kewpie Corporation (Japan), Sojaprotein (Serbia), American Lecithin Company (US), Sime Darby Unimills, Lecital (Austria), and Lasenor Emul (Spain).

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