Persistence
Market Research (PMR) delivers key insights on the global lecithin
market in its published outlook titled, “Lecithin Market: Global
Industry Analysis and Forecast, 2016–2024”. In terms of value,
the global lecithin market is expected to expand at a CAGR of 5.4%
during the forecast period due to various factors on which PMR offers
vital insights in detail. Global
lecithin market was valued at US$ 770.5 Mn in 2015 and is
expected to reach a value of US$ 1225.0 Mn at the end of the forecast
period in 2024.
Market
dynamics
Food
additives are used in various food products in order to impart
desirable qualities in various food products and also to make food
more appealing. For example, emulsifiers such as lecithin improve the
texture in salad dressings and other food products. Increasing
preference for low fat food and rising demand for convenience foods
and packed foods in the market in various developed and developing
countries are factors primarily driving growth of the global lecithin
market. In terms of the various food emulsifier products, demand for
lecithin is expected to increase at a reasonable rate till the end of
the forecast period.
Market
forecast
On
the basis of source type, the market is segmented into soya bean,
sunflower and others. Soya bean segment is projected to witness a
robust growth, followed by sunflower segment. On the basis of form
type, the market is segmented into liquid, granules, and powder.
Liquid segment is expected to witness highest revenue share, followed
by granules and powder segment in the global lecithin market. On the
basis of applications, the market is segmented into food &
beverage, pharmaceuticals, cosmetics, animal feed, and industrial
purpose. As a result of increasing demand for natural ingredients in
various food products, the food & beverage segment is expected to
witness highest growth in the global lecithin market over the
forecast period. Food manufacturers are offering GMO (genetically
modified organism) free products or replacing GMO ingredients to
cater to increasing preference for GMO–free products.
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Food
manufacturers are focused on new product launches to fulfill the
increasing demand of specialty ingredients for convenience food such
as ready mixes and on-the-go products. As per US FDA, partially
hydrogenated oils (PHOs) are not Generally Recognized As Safe (GRAS).
As a
result of increasing consumer demand for non-GMO ingredients and raw
materials alternatives other than soy, the companies are focusing on
production capacity expansion in Asia Pacific region. The production
capacity will supplement lecithin production and enable the
manufacturers to serve customers in Europe and North America.
This
report discusses trends that drive growth of each segment and offers
analysis and insights on the potential of the lecithin market in
specific regions. Asia Pacific, North America and Europe are expected
to record high growth rates between 2016 and 2024. Among all the
regions globally, North America is estimated to account for
comparatively higher value share in 2016, followed by Europe and Asia
Pacific. The market in North America is expected to remain dominant
over the forecast period, and is expected to account for 37.7%
revenue share of the global market by 2024. Asia Pacific is another
major market for lecithin. In Asia Pacific, increasing consumer
demand for non-GMO ingredients and raw material alternatives other
that soy, are some of the factors that is driving the lecithin market
over the forecast period. India, China, and other countries in Asia
Pacific region, are expected to witness significant growth over the
forecast period in global lecithin market.
Competitive
landscape
This
report covers detailed profiles of key players global lecithin
market, which includes key strategies, key developments, product
offerings and others. Key companies profiled in this report are 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.
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