Lecithin can be defined as any group of yellow brownish fatty substances present in animal and plant tissues, and is used for smoothing food textures, homogenizing liquid mixtures, and dissolving powders (emulsifier). In 2015, the global lecithin market was valued at US$ 770.5 Mn and is estimated to reach US$ 804.7 Mn by the end of 2016. In terms of value, the global lecithin market is projected to expand at a CAGR of 5.4% during the forecast period, and is expected to be valued at US$ 1,225.0 Mn by 2024 end.
Increasing preference for low fat food and rising demand for convenience foods and packed foods in the market in various countries are factors expected to drive growth of the global lecithin market during the forecast period. As a result of increasing demand for natural products in Asia Pacific, there are a number of opportunities for various players in the global lecithin market. Ever-rising demand for personal care products and cosmetics with natural ingredients is also expected to result in significantly high sales of ingredients used in these products.
As a result of rising popularity of lecithin and increasing awareness regarding associated benefits, the global lecithin market is expected to exhibit a robust growth during the forecast period. Due to recent concerns over GMO (genetically modified organisms) and growing awareness about food allergies, non-GMO products are expected to witness a significant growth resulting in a high demand for lecithin based products.
Presence of significantly high number of players in the market is creating intense competition. Lecithin is extracted from soy, sunflower, canola, rapeseed, egg, and sometimes shrimps. Lecithin percentage in all raw materials is very less; varying form 0.3 – 1.0%, and hence requires rigorous processing and high volumes of raw material, which leads to high processing costs. These are some of the restraints affecting the global lecithin market.
Among all source type segments in the lecithin market, revenue from the soya bean segment is projected to lead with a CAGR of 5.6% (2016–2024). This segment is expected to remain dominant and expected to account for 50.3% value share over the forecast period. The soya bean segment is estimated to account for major value share in 2016, owing to continuous development, which is expected to fuel growth of this segment over the forecast period.
The food & beverage segment is expected to contribute comparatively high revenue among the application type segment over the forecast period, and is estimated to account for around 40.7% value share of the overall global market by 2016 end. Pharmaceutical segment is also expected to witness a favorable revenue growth in the global lecithin market, registering a CAGR of 5.9% over the forecast period. This segment is projected to create incremental $ opportunity of US$ 96.2 Mn between 2016 and 2024.
Markets in North America, APAC and Europe are expected to contribute significantly to overall revenue growth of the global lecithin market. Increasing demand for natural foods is rising globally, with consumers opting for more nutritious food products, are factors expected to fuel the growth of global lecithin market. Among the regions, North America is estimated to account for a major share in terms of revenue at 35.6% in 2016, followed by Europe.
North America market is likely to witness highest growth in terms of value over the forecast period, followed by Europe and Asia Pacific. Sales of soya bean lecithin-based products in North America and APAC are estimated to collectively account for over 59.4% revenue share of the global lecithin market by 2016 end. Among all major markets for source type, soya bean and sunflower segments are expected to witness significant growth rates over the forecast period.
Key market players
Key players in the global lecithin market covered in the report include E. I. du Pont de Nemours and Co, Cargill, Inc., Archer Daniels Midland Company, Sternchemie GmbH & Co. KG, NOW Foods, American Lecithin Company, Bunge Limited, Thew Arnott & Co. Ltd., and Lipoid GmbH.
Persistence Market Research offers an eight year forecast for the global lecithin market between 2016 and 2024. The primary objective of the report is to offer key insights on the expected future growth of the global lecithin market. The study demonstrates market dynamics that are expected to influence the current environment and future status of the global lecithin market over the forecast period. The primary objective of this report is to offer updates on global lecithin market.
The report offers data regarding market share of the global lecithin market and the market is segmented on the basis of source type into soya bean, sunflower and others. The market is also segmented on the basis of form type, which includes liquid, granules, and powder. The market is also segmented on the basis of applications that includes food & beverage, pharmaceuticals, cosmetics, animal feed, and industrial purpose. The report also highlights various trends in the global lecithin market. A section of the report highlights region-wise trends in the global lecithin market. It also provides a market outlook for 2016–2024, and sets the forecast within the context of the segment by source type, form type, and applications. This study discusses key regional trends contributing to growth of the global lecithin market, as well as analyses the degree to which drivers are influencing markets in each region. Key regions assessed in this report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
In the final section of the report, a competitive landscape has been included to provide report audiences with a dashboard view. Detailed profiles of key players are also included in the scope of the report to evaluate their long-term and short-term strategies, recent developments, key brands and products offered. Key players in the global lecithin market covered in the report include E. I. du Pont de Nemours and Co, Cargill, Inc., Archer Daniels Midland Company, Sternchemie GmbH & Co. KG, NOW Foods, American Lecithin Company, Bunge Limited, Thew Arnott & Co. Ltd., and Lipoid GmbH.
Key Segments Covered
Key Regions Covered
To ascertain the global lecithin market size, we have taken into account the revenue generated by the various lecithin manufacturers and processors globally. The forecast presented here assesses the total revenue generated by value, across the global lecithin market. In order to provide an accurate forecast, we initiated by sizing up the current market, which forms the basis on how the lecithin market is expected to develop in the future. Given the characteristics of the market, we triangulated the outcome on the basis of three different types of analysis; based on supply side, downstream industry demand and the economic envelope.
In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze the market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the global lecithin market and identify the right opportunities across the market.
Another key feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is overlooked while forecasting the market. However, absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective of the global lecithin market. The overall absolute dollar opportunity along with the segmental split is mentioned in the report.
To understand key growth segments in terms of growth and adoption for lecithin globally, PMR has developed the lecithin market ‘Attractiveness Index.’ The resulting index should help providers identify real market opportunities.