The latest market report published by Credence Research, Inc. “Global Industrial Lecithin Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Industrial Lecithin Market generated revenue of around USD 246.14 million in 2021 and is anticipated to grow a CAGR of over 9.07% during the forecast period from 2021 to 2028 to reach around USD 455.95 million in 2028. While, cumulative growth opportunity presented by the global Industrial Lecithin is around USD 2.47 billion during 2022 to 2028.
Global Industrial Lecithin Market, 2021 – 2028 (USD Million)
Browse the full report at Industrial Lecithin Market (credenceresearch.com)
Lecithin is used in various industries, including food & beverage, pharmaceutical, and cosmetics. Fats and water are attracted to the amphiphilic characteristic of lecithin, a lipid group. Egg yolks, soybeans, sunflower seeds, and other commercial sources are all sources of lecithin. Lecithin is commonly employed for its unique properties, such as smoothening food textures, dissolving particles, repelling sticky substances, homogenizing liquid mixes, and acting as an emulsifier and stabilizing agent. Food manufacturers use commercial lecithin, a mixture of phospholipids and oil obtained from extracting oil from seeds.
Soy Based Industrial Lecithin to Grow at Rapid Pace
Soy [GMO & Non-GMO], Rapeseed/Canola, Sunflower and Egg Yolk are some of the important sources of Industrial Lecithin used across different industries. However, Soy-based Industrial Lecithin is growing in demand and held significant share in total revenue generation with over 40% in 2021. While, Rapeseed/Canola, Sunflower and Egg Yolk market segment is poised to play important role growth of Industrial Lecithin in the years to come.
Coatings, Inks & Paints Industry to Govern Future Growth of Industrial Lecithin Industry
Agricultural spraying, Coatings, Inks & Paints, Industrial drilling and Leather Textiles are major application markets for the global Industrial Lecithin industry. Coatings, Inks & Paints industry held the largest share of global Industrial Lecithin industry in 2021 with over 35% contribution to revenue generated by Industrial Lecithin market. Secondly, agriculture sprayer industry is also expected to grow at a significant CAGR which in turn likely to drive demand for Industrial Lecithin. Moreover, Industrial drilling and Leather Textiles are also witnessing increasing consumption of Industrial Lecithin.
Europe is Leading Industrial Lecithin Demand
Europe is leading the Industrial Lecithin industry with over 30% share in 2021. Increasing demand for bio-based raw materials for the production of paints & coatings owing stringent environmental regulations in Europe and North America, demand for Industrial Lecithin is on the rise. Moreover, demand for Industrial Lecithin is growing in Asia Pacific owing to increasing consumption of Industrial Lecithin based agriculture sprayers.
Major players operating in the Industrial Lecithin industry include but not limited to ADM, American Lecithin Company, Bunge Ltd., Cargill, DuPont, Giiava, Lecilite, Lipoid GmbH, NOW Foods, Sternchemie GmbH & Co. KG and Thew Arnott & Co., Ltd. Global Industrial Lecithin market is characterized by the presence of large number of manufacturers across the world. Increasing production capacity in order to achieve economies of scale and growing in market share is primary focus of the industry participants.
Global Industrial Lecithin Market by Type, 2016 – 2028
- Soy [GMO & Non-GMO]
- Egg Yolk
Global Industrial Lecithin Market by Distribution Channel, 2016 – 2028
- Agricultural spraying
- Coatings, Inks & Paints
- Industrial drilling
- Leather Textiles
Global Industrial Lecithin Market by Company, 2016 – 2028
- American Lecithin Company
- Bunge Ltd.
- Lipoid GmbH
- NOW Foods
- Sternchemie GmbH & Co. KG
- Thew Arnott & Co., Ltd.