Global Soy Lecithin Market

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

Report ID: SQMIG30C2113 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 97 | Figures: 76

Global Soy Lecithin Market News

  • In May 2022, in order to meet the rising domestic and international demand for oilseeds brought on by the food, feed, and fuel sectors, Cargill has disclosed plans to construct a new soybean processing facility in Pemiscot County, Missouri, close to Hayti and Caruthersville. With a 62-million-bushel capacity for yearly soybean production, the plant will be the first of its type in Southeast Missouri. Cargill expects to start construction on the project in the first few months of 2019 with an operating goal of 2026. When finished, the new plant will bring about 45 additional full-time jobs to the area.
  • In September 2021, in a deal that would expand AAK's presence in the European lecithin market, BIC Ingredients, the lecithin division of BIC International Holding, has agreed to be acquired by AAK. BIC Ingredients, based in the Netherlands, provides non-GMO specialized lecithin and lecithin compounds. A natural emulsifier called lecithin is made from plant-based oils including soy, sunflower, and rapeseed. The raw materials used by BIC Ingredients come from many parts of the world. The BIC Ingredients products will be included in AAK's line of specialized lecithins, which are offered under the Akolec name. AAK is situated in Malmo.
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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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