Lecithin market size to hit $1,605 million

The lecithin market is anticipated to reach over USD 1,605 million by 2026 according to a new research published by Polaris Market Research. In 2017, the soy segment dominated globally in terms of revenue. Europe was the leading contributor to the global market revenue in 2017.

Several factors contribute to the growth of the lecithin market: Awareness of the health benefits of lecithin, significant awareness of healthy diets, and changing lifestyles. The inclination towards use of naturally sourced products, as well as more use of lecithin in medicinal and pharmaceutical applications, also drive the market.

In Asia Pacific, lifestyle changes as a result of higher income levels fuel the growth of the region’s lecithin market. Factors such as increase in per capita income, changes in consumer behaviour, and awareness regarding health and nutrition are expected to accelerate the adoption of lecithin in the coming years. Growing demand from developing nations, and growing use in the nutraceuticals industry is expected provide numerous growth opportunities to the market players during the forecast period.

Soy is the most common source of lecithin, accounting for the highest share in the global market in 2017

Based on type, the lecithin market is segmented into Fluid Lecithin, De-Oiled Lecithin, and Modified Lecithin. The fluid Lecithin dominated the global market in 2017 owing to the increasing demand from the animal feed sector.

On the basis of source, the market is segmented into Rapeseed, Sunflower, Soy, and Other Sources. Soy accounted for the highest market share globally in 2017. The functional advantages offered by Soy combined with rising demand from industrial applications boosts the market growth.

The application segmented in divided into Food Products, Animal Feed, Pharmaceuticals & Personal Care, Industrial, and other Applications. The animal feed segment dominated the global market in 2017.

The report profiles the following lecithin providers: Stern-Wywiol Gruppe Pvt. Ltd., Lipoid GmbH, E. I. duPont de Nemours Company, Cargill, Inc., Archer Daniels Midland, Wilmar International, American Lecithin Company, Northland Organic Food Corporation, VAV Life Sciences Pvt. Ltd., and Soya International. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Access the lecithin report.