Owing to increased awareness about health among consumers, and increased adoption of low fat and convenience foods by different age groups, the global lecithin market has seen immense growth in recent years. Significant growth in working population across the globe has resulted in an increased number of consumers spending on processed and convenience foods, which is driving the growth of the global lecithin market. Also, different industries, such as food, health & nutrition, animal feed, and cosmetics industry, largely use lecithin as an emulsifier. Distributors and direct selling are the two channels majorly aiding in the distribution of lecithin, thereby catering to the surged demand for foods containing the multipurpose food ingredient.
Though, various factors such as flexible nature of lecithin and augmenting health concerns among people are highly encouraging food manufacturers to use new ingredients and cut fat content from processed foods, other factors like easy availability of substitutes for lecithin are hindering the growth of the lecithin market, worldwide.
In terms of source, the global lecithin market has been segmented into soy, egg, sunflower, and others. Among all sources, soy comes out as a natural emulsifier, which is extracted from soybean oil and comprises three forms of phospholipids, including phosphatidylcholine (PC), phosphatidylethanolamine (PE), and phosphatidylinositol (PI). On the other hand, based on application, the market has been categorized into food, animal feed, nutrition and health supplements, cosmetics, and others.
Geographically, Europe has been the largest market for lecithin, in recent past. Growing demand for lecithin from different industries, primarily, drove the regional market growth. These industries may include processed food, cosmetics, animal feed, and health and nutrition industry. Other factors that have been boosting the lecithin market growth in the European region include surge in global meat consumption, and increasing awareness about dairy products and meat quality. However, Asia-Pacific is expected to witness the fastest growth, in the near future, at a CAGR of 9.1%. The anticipated growth, as per the findings, can be attributed to the growing economically active population as well as augmenting disposable income and increasing urbanization, especially in developing countries like India and China. Growth of end-user industries for lecithin in the region is also likely to create equal opportunities for the global market growth.
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