Global Lecithin Market will grow USD 2.4 Billion by 2024. Currently, the shifting focus of people toward the consumption of non-allergen and non-GMO food products have encouraged giants in the lecithin market to come up with a new range of products. The introduction of customer-centric food products has helped them generate quite some revenue, apparently. The recent launch of a new portfolio of lecithin products by one of the renowned contributors of lecithin market, Cargill validates the fact that this business thrives extensively on changing customer demands. Reportedly, the introduction of de-oiled lecithin had been totally dependent on the growing requirement of label-friendly ingredients from the consumers.
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Egg yolk lecithin market demand was estimated at over USD 115 million in 2017. It constitutes 66% to 76% of phosphatidylcholine and is used to repair cell membranes. These product act as an emulsifier and is successful in mixing two immiscible liquids. Eggs are widely used in food products owing to its emulsifying properties in products like mayonnaise which aids to blend water and oil, thereby driving the product demand.
Rapeseed or canola lecithin market size may surpass consumption at over 29 kilo tons by 2024. Increasing demand for non-GMO lecithin for its allergen free, lubricant, antioxidant and dispersing properties is expected to boost the product demand. They have technical properties similar to soy and sunflower and can be substituted in ratio of 1:1 for both.
Browse key industry insights spread across 415 pages with 519 market data tables and 45 figures & charts from the report, “Lecithin Market Size By Source (Soy [GMO, Non-GMO], Rapeseed/Canola, Sunflower, Egg Yolk), By Application (Food & Beverages, Animal Feed, Industrial, Pharmaceutical, Cosmetics), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, Denmark, China, India, Japan, South Korea, Thailand, Malaysia, Australia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Growing consumer demand towards various bakery products like breads, pastries and cakes may drive lecithin market demand. Emulsifying properties may cater to pharmaceutical and cosmetic industries, thus propelling the industry growth over the forecast timeframe. They are applied in manufacturing of various confectionary products which includes fudges, chocolates, caramels and toffee owing to its antioxidant and flavor protective properties. Pharmaceutical industry prefers soy product owing to its maintenance in oil-in-water and water-in-oil emulsion, thus increasing the industry demand.
Rapeseed lecithin market share from cosmetic applications may account for over 10% of the total demand by 2024. This oil is widely used as a remedy for skin ailments as it acts as a rich source of vitamins E & K which reduces skin afflictions and aging signs like acne, fine lines, spots and wrinkles. It also contains anti-oxidant in good amount which protects the skin from oxygen free radicals thus, making it soft and nourished and enhance the overall product demand.
Germany egg yolk lecithin market size from food & beverages is anticipated to register gains around 2.5% by 2024. Increasing convenience of ready to eat products and changing food preferences coupled with low fat and organic baked products are predicted to provide a stimulus to the industry growth.
U.S. canola lecithin market demand may witness growth at over 4.5% over the forecast period. Increasing demand for various organic cosmetic products owing to several benefits may boost product demand in the region. Growing demand for various skincare products which includes creams, and lotions, may foster industry growth. The consumers are now focusing towards organic, ethical and vegan cosmetic products which may enhance market demand.
China pharmaceutical applications in sunflower lecithin industry demand may exceed USD 3.4 million by the end of foreseeable timeframe. With government increasing investment in healthcare and R&D, China represents great opportunity for innovative products and technologies and collaboration between international and domestic pharmaceutical companies. It is used in the form of tablets for the treatment of disorders such as dementia in Alzheimer disease. It is also used for treating bladder disease and types of depression, cholesterol and skin disease eczema, which may favor the industry growth.
Spain non-GMO based soy lecithin market size is poised to exceed USD 19 million in the near future. Lecithin in aquafeed improves survival rate of fish and improves growth rate. It reduces the leaching of water soluble nutrients and act as natural antioxidant and feed attractant which may increase the product demand.
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