The Lecithin Market was worth USD 2872.64 Million in 2016 and is projected to reach around USD 5700.2 Million by 2023

Pune, India -- (SBWire) -- 11/15/2018 --The Lecithin Market was worth USD 2872.64 Million in 2016 and is projected to reach around USD 5700.2 Million by 2023. The Lecithin Market is estimated to grow at a CAGR of 9% during the forecast period 2017-2023. The Europe region accounted for the largest market share of approximate 51% in 2016 and is expected to remain dominant through the forecast period. The South America region is expected to grow at highest CAGR of 12% during the forecast period.

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Lecithin is a class of phospholipids that are obtained from naturally occurring substances, primarily from edible oils and eggs and which are primarily used in the food industry as an emulsifying agent. Lecithin is also used as dietary supplement esp. for the cardiovascular diseases, and as anti-aging agent. The global lecithin market is expected to demonstrate good demand as the global per capital GDP is on rise and is resulting in the increased uses across the income levels. Thus, in order to meet demand veg oil refiners are establishing facilities for the lecithin production in their production lines.

This in turn, is expected to boost the global lecithin market over the forecast period. Currently, the global demand for lecithin is higher than the supply. Therefore, leading suppliers of lecithin are expected to introduce lecithin manufacturing facilities. The report on global lecithin market covers a comprehensive view of the production as well as consumption of lecithin in the world market.

The global Lecithin market is driven by the factors such as growing demand for convenience food, rising awareness about the usability of lecithin in multiple industry applications, growing health awareness and preference for natural sources of ingredients. However, incidences of allergy to soy lecithin and health hazards associated with hexane which is used for extraction of lecithin are likely to act as primary restraining factors affecting the global lecithin market over the forecast period.

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The report provides profiles of the companies in the global lecithin market such as BASF SE, Archer Daniels Midland Company, Lipoid Gmbh, E. I. Du Pont De Nemours And Company, Stern-wywiol Gruppe Gmbh & Co. Kg, Ruchi Soya Industries Limited, Avanti Polar Lipids Incorporated, Lasenor Emul S.L., Lecico Gmbh, Vav Life Sciences Private Limited, Cargill Incorporated.