What is the global market size of Soy Lecithin Market?

Global Soy Lecithin Market size was valued at USD 547.5 million in 2021 and is poised to grow from USD 588.7 million in 2022 to USD 984.2 million by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

Global Soy Lecithin Companies

Global Soy Lecithin Market Competitive Landscape

Top Players in the Global Soy Lecithin Market

Archer Daniels Midland Company
Denofa
Ruchi Soya Industries
Cargill, Inc.
Bunge Limited
DuPont de Nemours, Inc.
Lecico GmbH
Lipoid GmbH
American Lecithin Company
Stern-Wywiol Gruppe GmbH & Co. KG
Thew Arnott Group
Lucas Meyer Cosmetics
Austrade Inc.
Lasenor Emul S.L.
Sodrugestvo Group
Rasoya Proteins Limited
Vav Life Sciences Pvt. Ltd.
GIIAVA (AGRANA)
Swanson Health Products
Marathwada Chemical Industries Pvt. Ltd.

Soy Lecithin Market

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Soy Lecithin Market size was valued at USD 547.5 million in 2019 and is poised to grow from USD 588.7 million in 2023 to USD 984.2 million by 2031, growing at a CAGR of 7.7% in the forecast period (2024-2031).

The global soy lecithin market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Archer Daniels Midland Company', 'Denofa', 'Ruchi Soya Industries ', ' Cargill, Inc.', 'Bunge Limited', 'DuPont de Nemours, Inc.', 'Lecico GmbH', 'Lipoid GmbH', 'American Lecithin Company', 'Stern-Wywiol Gruppe GmbH & Co. KG', 'Thew Arnott Group', 'Lucas Meyer Cosmetics', 'Austrade Inc.', 'Lasenor Emul S.L.', 'Sodrugestvo Group', 'Rasoya Proteins Limited', 'Vav Life Sciences Pvt. Ltd.', 'GIIAVA (AGRANA)', 'Swanson Health Products', 'Marathwada Chemical Industries Pvt. Ltd.'

The processed and packaged food sector is expanding favorably, which is expected to be good for the market given the rising per capita food spending and changing dietary preferences. The need for nutrient-rich beverages, meals, and supplements is on the rise due to rising concerns about living a healthy lifestyle. This demand is expected to eventually drive producers to employ goods like soybean lecithin, which is both affordable and nutrient-rich. Additionally, the product's extensive chemical and physical qualities make it useful in the paint and cosmetics industries. Consumers in the United States spent an average of 10.3 percent of their disposable personal income on food in 2021, with food consumed at home accounting for 5.2 percent of the total (5.1 percent). Consumers, corporations, and government agencies in the United States spent $1.77 trillion in 2019 on food and drinks at supermarkets and other merchants as well as on takeout meals and snacks.

Consumers nowadays are looking for items that will enable them to live more ethically and sustainably. From this point forward, organic products are becoming incredibly popular. Additionally, producers hope to influence customers to choose healthier foods by incorporating organic components.

With the biggest revenue share of more than 30% in 2021, Europe dominated the global soy lecithin market. This is explained by the fact that the region has a sizable number of lecithin producers. Demand is also being fueled by an abundance of raw resources and rising health consciousness among customers in the area. The 2.7 million tonnes of soybeans produced in the European Union over the years remained largely consistent. More than 15 million tonnes of soybeans and over 19 million tonnes of soybean meal were imported into the EU28+ in 2019. 243.880 tonnes of beans (195.104 tonnes of equivalent soybean meal) and 461.408 tonnes of the meal were exported, respectively, to nations outside the EU28+. The majority of the imported soybeans and soybean meal are used in the EU28+ for feed, food, and fuel after being crushed. In addition to direct soy imports, embedded soy is also imported into the EU28+ (263.087 tonnes), but embedded soy exports are far greater at more than 3 million tonnes, demonstrating the crucial role the EU28+ plays in animal-based agriculture.

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

Global Soy Lecithin Market Competitive Landscape

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

Global Soy Lecithin Market Competitive Landscape

Global Soy Lecithin Market Report Snapshots

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