SKU: DMFB1983 | Published On: Jan 10 2023 | Available Formats
The global "Soy Lecithin Market" is predicted to reach a high CAGR of 5.8% during the forecast period (2023-2030).
Lecithin sourced from soy has long been in use as a food additive. A wide array of food products including condiments, chocolates, and dressings use soy lecithin as an emulsifier, lubricant, stabilizer, wetting and dispersing agent. Soy lecithin is also rich in choline, a vitamin-like essential nutrient that reduces the levels of bad cholesterol, thus making it a dietary supplement of choice for the heart health-savvy population.
Metrics |
Details |
Market CAGR |
5.8% |
Segments Covered |
By Product Type, By Application, By End Use Industry, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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The lecithin industry is increasing at a breakneck pace, thanks to the rising demand for convenience foods, functional foods, and beverages. The growing demand for green and organic food products is likely to boost the business, expanding revenue opportunities. The lecithin market in developing nations is predicted to increase rapidly as customers seek balanced nutrition meal options that assist weight loss and address calorie issues. Furthermore, increased demand for natural fats produced from plants and animals, as well as growing awareness among people about the need of eating nutritious and high-quality food, will drive demand in this market. However, worries over genetically modified (GM) soybeans, as well as restrictions on the use of soy lecithin in food products due to soy's allergenic nature, are impeding the market's expansion. Also, rigorous regulatory laws relating to genetically modified soybeans and excessive intake of soy lecithin, which has been linked to a variety of health problems, may deter people from purchasing these goods, limiting market expansion.
Covid 19 basically has made a devastating impact on the Soy Lecithin Market in a pretty big way. Due to the restrictions imposed on global trade, the supply and demand chain of the market specifically has been disrupted. Due to Covid restrictions have been imposed on the kind of free movement of working people too, which for all intents and purposes is fairly significant. This actually has literally resulted in decreasing production for the Lecithin market.
The global soy lecithin market has been segmented by function into emulsifier, stabilizer, antioxidant, lubricant, wetting agent, nutritional supplement, and others. Because of the demand for soy lecithin as an emulsifier in food, feed, plastics, pharmaceuticals, and other industries, emulsifiers thus became basically the largest segment, which literally is quite significant. Food and beverages led the global soy lecithin market in 2018, with a market share of over 50%. A significant portion of the market definitely is made up of animal feed, cosmetics, medicines, and a few other businesses.
By geography, the global soy lecithin market is segmented into North America, South America, Europe, Asia Pacific, Middle East and Africa. It has been projected that Asia-pacific will lead the soy lecithin market during the forecast period. This is mostly because of the availability of the raw materials present in this region. Soy lecithin is an important raw material of paints that helps in the reduction of viscosity in the paint. It is also used in construction, food. India and China are supposed to be the key driving regions for this market.
North America and Europe are also projected to give a boost in the forecast period. The increase in demand for high protein foods in developed regions has increased the demand for the Soy Lecithin market. Due to the increase in the busy lifestyle, people are looking for a cheap and high-quality protein source, which has increased the demand for the Soy Lecithin market.
The global soy lecithin market is fragmented with the foothold of a large number of companies. The market is highly competitive with the likes of new product launches in the fields of organic and non-GMO soy lecithins. All the key market players including The Archer Daniels Midland Company (Yelkin and Ultralec series) and Cargill, Incorporated (Topcithin NGM, Metarin NGM, Emulpur) are focusing on widening their portfolio of non-GMO soy lecithins to cater for the growing demand from organic food processors across the globe
Other key players in the market are American Lecithin Company, Sonic Biochem Extractions Ltd., DuPont Nutrition & Biosciences, Lipoid GmbH, and Agro Solvent Products Pvt. Ltd.
Sonic Biochem Extractions Pvt. Ltd. :
Overview:
Sonic Biochem Extractions is the global leader in manufacturing non-GMO soya and sunflower ingredients. Sonic Biochem was established in 1997. This is the first soya processing company to go in for organic farming and agriculture-extension activities to improve the quality of soybeans.
Product Portfolio:
Key developments:
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