Lecithin Market to Surge at 5.7% CAGR, Decline in Growth Likely Due to Coronavirus Outbreak, says FMI
The global lecithin market size is expected to reach US$ 7 Bn by the end of 2030. Future Market Insights (FMI) forecasts the market to rise at a positive CAGR of 5.7% between 2020 and 2030. According to the report, factors such as the lack of awareness and the costliness of some variations of the lecithin are restraining the growth of this market. The report presents an exhaustive market overview to give stakeholders a clear idea about the prevailing trends. It contains various facts and figures to help companies gauge the investment feasibility of the market across various regions and segments.
Lecithin And Phospholipids Market
A recent market study published by Future Market Insights on the lecithin market offers gl...
It includes in-depth insights into the lecithin market. Some of these are:
- The estimated value of the market was at US$ 4 Bn in 2020. Through the course of the report’s forecast period, the market is forecast to have a positive growth trajectory, however, disruptions are likely due to the unprecedented spread of coronavirus.
- Asia Pacific is estimated to occupy the largest share of the global lecithin market, in terms of value and volume.
- Increasing demand for natural sources in the cosmetics and pharmaceutical industry has boosted the demand for soy-based lecithin at a global level.
- Soy lecithin is increasingly used in the feed application and is also being used as a replacement to cocoa butter in the chocolate industry, owing to rise in price of cocoa butter.
- Key players are likely to focus on product innovations to stay relevant in developed markets.
“The lecithin market is driven by the increasing demand for lecithin in feed and food applications. It is also gaining from the rising demand use of natural ingredients in cosmetics and dietary supplements around the globe,” said a lead analyst at FMI.
Change in Buying Behaviour Due to COVID-19 Outbreak
Lecithin is widely available in medicinal, cosmetic, and other foods & supplements. The demand in the cosmetic and pharmaceutical industries and the growing need for alternative lecithin sources are the major factors driving the growth of the lecithin market. The market has witnessed high demand for de-oiled lecithin due to nutritional benefits to consumers.
The spread of the virus has been one of the biggest threats to the global economy and to financial markets. Meanwhile, coronavirus worries have rocked markets across the globe, with equity prices and bond yields plumming. With travel restrictions and large-scale quarantine imposed across China, people spent a lot of time indoors at home. Shopping habits shifted accordingly. Foot traffic to physical stores has declined dramatically and people buy far more of everything online – including fresh produce.
Who is Winning?
Some of the major players operating in the global lecithin market are Archer Daniels Midland Company, Cargill, Incorporated, LASENOR EMUL, S.L., Lipoid GmbH, Stern-Wywiol Gruppe GmbH & Co. KG, Avanti Lipids Polar, Inc., DuPont., Lecico Gmbh, Ruchi Soya Industries Limited, Vav Life Sciences Pvt. Ltd., The Valspar Corporation and others. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
Get Valuable Insights into Lecithin Market
Future Market Insights, in its new report, presents an unbiased analysis of the global lecithin market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. The report segments the global de-oiled market based on form, source, and application. Based on form, the market is divided into powdered and granulated de-oiled lecithin. Based on source, it is classified into soy, sunflower, rapeseed, and egg. Based on application, it is categorized into food, feed, and healthcare. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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