Lecithin market was valued US$ 980 Mn in 2017 and is estimated to reach approximately US$ 1550 Mn by 2026 at a CAGR of about 6 % during a forecast.
Lecithin market is segmented based on types, application and region. Based on sources, lecithin market is segmented into egg, sunflower, soy and others. Food, feed, nutrition & supplements, pharmaceuticals are application segments of lecithin market. Geographically, Lecithin market is divided into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Lecithin is gaining demands from the pharmaceutical manufacturers for treatments related to neurological conditions, liver and cholesterol effects and for cardiovascular diseases. Food manufacturing industry registers moderate growth in lecithin market. In addition increasing demand for green and naturally sourced ingredients, coupled with increasing consumer awareness towards healthy life style drives the market for lecithin. Fluctuating cost of raw material and religious restrictions placed by Islam and Judaism on consumption of lecithin is about to restrain the market. Nutraceutical industry where lecithin is used in dietary supplements offers an opportunity to lecithin market.
Global Lecithin Market
By source, lecithin market is categorised into egg, soy, sunflower, and others. Soy accounted for major share with easy availability and consumers perceiving soy based foods as healthier. Sunflower based lecithin will gain popularity in forecast as it is plant source and seed based lecithin being the fastest growing segment.
Application type is divided into food, feed, nutritional supplements, pharmaceuticals, and others. Food is largest contributor of lecithin market and nutritional supplements being the fastest growing segment. Increasing demand for natural foods and nutritious food Sources are factors anticipated to fuel the growth of lecithin market.
North America accounted for a major share in terms of revenue in 2016, followed by Europe. North America market is likely to witness highest growth in terms of value over the forecast period, followed by Europe and Asia Pacific. Religious restrictions placed by Islam and Judaism on consumption of lecithin hinders the growth in Asia Pacific.
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Last Update : 19 September 2019
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