Lecithin Market - Forecast(2024 - 2030)

 

Lecithin Market — Forecast(2024–2030)

Lecithin Market Overview:

Lecithin Market size is estimated to reach US$2.1 billion by 2030, growing at a CAGR of 6.6% during the forecast period 2024–2030. The growing demand for natural and clean-label ingredients, the rise of non-GMO and allergen-free lecithin, and the expansion of the food processing and convenience food industries are driving the demand for Lecithin from the end users. This trend is expected to boost the growth of the Lecithin Market during the forecast period.


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Additionally, in food-related applications, consumers are becoming more health-conscious, seeking natural ingredients which makes Lecithin an attractive choice due to its wide range of food applications which include emulsification, release properties, wetting, dispersing, and texturization. The demand for natural ingredients in food boosts the Lecithin industry outlook during the forecast period.

COVID-19 / Ukraine Crisis — Impact Analysis:

● The COVID-19 pandemic drove up sales of supplements due to increased focus on health. According to the Consumer Healthcare Products Association (CHPA), the pandemic accelerated self-care in general and led to the largest spike in supplement sales in two decades. According to a survey by Proactive health, 44% of US consumers have increased purchases of dietary supplements during the pandemic which also benefitted the Lecithin market.

● The Russia-Ukraine war has profound implications for the lecithin market. Russia and Ukraine are major sunflower exporters. Ukraine’s seaports have not been operational since Russia began its attack. The country’s exports of oilseeds dropped to just 3% of their usual monthly volume in March 2022. In mid-April, the Ukrainian minister of agrarian policy and food said that around 1.25 million metric tons of oilseeds are blocked at seaports. Russia’s attacks also have targeted infrastructure critical to commodity processing and shipping, such as major export facilities. Additionally, western sanctions on Russia impose restrictions on exports.

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Key Takeaways:

● Dominance of Europe

Geographically, in the Lecithin market share, Europe is analyzed to hold the largest market share of 38% in 2023. In European countries, cardiovascular diseases (CVD) are one of the leading causes of mortality among the population. This in turn has increased the application of lecithin in food as it provides protection against cardiovascular diseases, and helps in reducing blood cholesterol levels. According to WHO, CVD causes more than half of all deaths across the European Region. According to the WHO, 54% of men and women in Europe — the highest percentage for any region of the world — are affected by LDL cholesterol. In Europe’s five major countries (Germany, France, Italy, Spain and the UK) about 133.3 million people suffer from a high level of bad cholesterol. The rise in demand for dietary supplements complementing cardiovascular health, and the increasing the consumption of lecithin, accelerate the market growth.

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● Sunflower Segment to Register the Fastest Growth

In the Lecithin Market analysis, the sunflower segment is estimated to grow with a CAGR of 7.3% during the forecast period 2024–2030. According to the National Sunflower Oil Association, 75% of Canadians desire products manufactured with sunflower oil. Sunflower lecithin is considered a clean-label ingredient and is favored by consumers seeking natural and transparent product formulations. As food producers and restaurants search for non-GMO substitutes, demand for sunflower products like oil and lecithin is surging.

● Food is the Largest Segment in the Market

According to the Lecithin Market forecast, the food segment is estimated to hold the largest market share in 2023, in terms of application. Lecithin is being used more frequently in meat, dairy, and pastries due to consumer demand for natural ingredients. Lecithin is widely employed in baking to promote moisture retention and ensure that the flour and additional ingredients are blended evenly. Lecithin is typically added to layer cakes at 0.5 to 1.5% based on flour weight and 0.1% to 0.2% to bread recipes. The demand for lecithin in application categories such convenience foods, bakery, and confectionery is anticipated to be driven by the rising number of small-scale food makers.

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● Non-GMO and Allergen-Free Lecithin

With consumers becoming more discerning about their dietary choices, there’s a growing preference for products that are free from genetically modified organisms (GMOs) and allergens. According to the ATLAS 2023 survey by Ingredion, data shows that consumers will continue to pay a premium for non-GMO products, with 69% of respondents stating that they would pay more for non-GMO food. Lecithin, sourced from non-GMO soybeans or allergen-free alternatives like sunflower, caters to this demand. The need for transparency and allergy-conscious products, position non-GMO and allergen-free Lecithin as a sought-after ingredient in various industries, including food, pharmaceuticals, and cosmetics. This reflects a broader consumer trend toward clean and allergen-free formulations. Thus, the availability of non-GMO & allergen-free Lecithin acts as a driver for the growth of the Lecithin Market during the forecast period.

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● Increasing Demand for Natural and Clean-Label Ingredients

Consumers are increasingly prioritizing healthier dietary choices, leading to a heightened preference for natural sources. According to the ATLAS 2023 survey by Ingredion, 42% of consumers look for clean label/natural ingredients before making a purchase. Lecithin, derived from soybeans, sunflower, or other plant-based options, aligns with this growing consumer trend. Its versatile applications in food, pharmaceuticals, and cosmetics, coupled with its role as a natural emulsifier and source of essential phospholipids, contribute to the escalating demand. Thus, the Lecithin Market stands to benefit significantly from the surging demand for natural and clean-label ingredients.

● Fluctuating Raw Material Prices to Impede to Market growth

The challenge of fluctuating raw material prices poses a significant obstacle for the lecithin market. The volatility in prices of essential raw materials, such as soybeans and sunflower seeds, introduces uncertainty in production costs. Ukraine is responsible for up to 46% of sunflower-seed, according to the Observatory of Economic Complexity. The second largest producer is Russia, which exports about 23% of the world’s supply. Ukraine sunflower seed prices have risen by up to 11% since the beginning of September 2022. This unpredictability can hinder pricing stability for lecithin-based products, affecting both manufacturers and consumers. Such challenges can hinder the Lecithin market growth in the future.

Lecithin Market Share (%) By Region, 2023

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Key Market Players:

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Lecithin Market. The top 10 companies in this industry are listed below:

  1. Archer Daniels Midland Company
  2. Cargill, Inc.
  3. DuPont de Nemours, Inc.
  4. Wilmar International Ltd.
  5. Bunge Limited
  6. VAV Life Sciences Pvt Ltd
  7. Lipoid GmbH
  8. American Lecithin Company
  9. Fismer Lecithin
  10. Sternchemie GmbH & Co. KG


Location: United States

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