Global Lecithin Market Gaining Traction Increased Uptake of Bakery Products
The global lecithin market size valued at $860 million in 2018 and the demand will be growing at a compound annual growth rate (CAGR) of 6.20% during the forecast period of 2019 to 2025.
Hyderabad, India – July 6, 2019 /MarketersMedia/ —
As urbanization engulfs emerging economies, the greater populace is now observing a restless lifestyle and subsequently, greater spending on convenience and processed food, owing to which the lecithin market is thriving. Additionally, the growing health awareness amongst people is adding further impetus on lecithin demand. According to a recent business intelligence report published by IndustryARC, the global lecithin market size valued at $860 million in 2018, and the demand will be growing at a compound annual growth rate (CAGR) of 6.20% during the forecast period of 2019 to 2025.
IndustryARC’s latest business intelligence report titled Lecithin Market which covers Lecithin Market Size by source and applications, Lecithin market share by top 5 companies and also the market share by start-ups during the forecast period. The report also documents that the manufacturers are trying to create processed food that has fewer calories without compromising on the taste, which will increase the demand for the lecithin market.
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Global Lecithin Market: Leading Segments
Europe recorded the largest dominance in the global lecithin market with a regional share of 32% in 2018. European Lecithin Manufacturing Association (ELMA) is the largest producer of lecithin and collaboration of Spain, UK, France, and Germany.[1] Because of the increasing demand for bakery products such as cakes, pastries, and bread across these countries, the Europe lecithin market is poised to continue returning profits during a foreseeable future. Europeans are majorly dependent on wrapped and sliced bread as they take less time to be prepared. Considering these factors, Europe is observing a rapid growth in the lecithin market in recent years.
Furthermore, the key application segment in the food industry for the lecithin market has been growing in recent times and will witness continuous growth in the coming years. The estimated growth opportunities for the key application demand is projected to grow at a CAGR of 6.10% aforementioned forecast period.
Global Lecithin Market: Market Demand and Growth Drivers
Due to change in lifestyle in recent times, consumer awareness is increasing in people and the demand for green and naturally sourced ingredients has driven the lecithin market.
Lecithin is a multi-purpose functional ingredient that fraternizes well with other ingredients in food. It serves various functions in the food industry from bakery to culinary. Additionally, it provides a very essential nutrient for health and development.
On the other hand, the latest on-going trend in the lecithin market is the increased mass production of sliced and wrapped bread. Such consumers are more dependent on the products that take less time for preparation.
Lecithin market is gaining traction from the pharmaceutical industry owing to its extraordinary features such as dispersing agent, wetting agent, and emulsifier. Lecithin is used to stabilize the emulsion. However, egg lecithin is commonly used in the cosmetic industry as well.
Considering soy lecithin is widely used in poultry feed. The global animal feed market size was valued $16-17 billion as of 2018, according to IndustryARC’s business intelligence report.
Global Lecithin Market: Competitive Landscape
Some of the key players dominating the global lecithin market are DuPont Nutrition& Health, Lipoid GmbH, American Lecithin Company, Thew Arnott & Co., Ltd., Archer Daniels Midland Company, Bunge Limited, Cargill Inc., VAV Life Sciences Pvt. Ltd., NOW Foods, and Sternchemie GmbH & Co. KG.
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Related Reports:
Soy Lecithin Market
https://www.industryarc.com/Report/16258/soy-lecithin-market.html
Lecithin & Phospholipids Market
https://www.industryarc.com/Research/Lecithin-Phospholipids-Market-Research-504437
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