Global Lecithin Market Size, Share, Growth Analysis, By Form(Liquid, Powder and Granules), By End-use(Convenience Food, Bakery), By Source(Soy, Sunflower) - Industry Forecast 2024-2031

Global Lecithin Market size was valued at USD 589.07 million in 2022 and is poised to grow from USD 634.43 million in 2023 to USD 1148.44 million by 2031, at a CAGR of 7.70% during the forecast period (2024-2031).

It is increasingly utilized in baked goods, ready-to-eat meals, confectioneries, pasta, and instant foods, which is a primary driver of growth due to its qualities as an emulsifier, viscosity reduction, and wetting agent. Due to the existence of clients who are price sensitive, lecithin producers compete on the basis of competitive pricing. To gain a competitive edge in the market, manufacturers place a high priority on process innovation and the sources of affordable raw materials. Small price increases are anticipated over the projected period as a result of the rapid expansion of end-use sectors such food, beverage, feed, and pharmaceuticals as well as the rise in lecithin production.

Phospholipids are elements of cell membranes that control cellular processes like protein synthesis and cell migration to different regions of the body. Lecithin and other phospholipids, in particular, are widely used as emulsifiers in the food and beverage, dietary supplement, and cosmetic sectors. They are also being adopted as natural antioxidants to reduce lipid oxidation.

Lecithin derived from plant sources is mostly used in the end-use segments for pharmaceutical products. As a revitalizing agent, emulsifier, dispersion, wetting agent (powder and tablet), and mold release agent in addition to liquid dosage forms, solid dosage forms, and liposomal applications, it is utilized in a wide range of pharmaceutical applications. Additionally, it prevents substances from oxidation, promotes skin penetration, reduces fat crystallization, and boosts bioavailability.

Lecithin producers have been compelled to expand their product line as a result of shifting consumer preferences towards the consumption of non-GMO and hypoallergenic food goods. For instance, one of the major players in the lecithin industry, Cargill Incorporated, introduced a whole new line of defatted lecithin products. Players in the industry are concentrating on improving their product offerings and gaining impetus.

US Lecithin Market is poised to grow at sustainable CAGR for the next forecast year.