(Food-Beverage-News.Com, November 12, 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 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 factors such as increased demand from the feed segment, a shift in preference towards convenience foods in the emerging economies of the Asia Pacific and South American regions. On the other hand, the phospholipids market is driven by the increased demand for natural ingredients in personal care products and cosmetics in countries such as China, India, Japan, and South Korea.
Based on type, the lecithin market has been segmented into de-oiled, fluid, and modified. The de-oiled segment is projected to grow at the highest CAGR during the forecast period.
Based on source, the lecithin market has been segmented into soy, sunflower, rapeseed, and eggs while the phospholipids market is segmented into soy and egg. The sunflower segment is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific region accounted for the largest share of the phospholipids market in 2017 market. Changes in consumer preference toward natural ingredients have increased the demand for phospholipid products. In Asia Pacific, a rise in the young population (under 30 years of age) and rising awareness about health have prompted consumers to opt for healthier alternatives such as food supplements.
Major players are Cargill (US), ADM (US), Stern-Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US), who are focusing on expansions & investments, acquisitions, and agreements to strengthen their base in the lecithin & phospholipids market. 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); these players are also strengthening their market position through expansions and new product launches.
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