The De-oiled Lecithin Market is estimated to be valued at USD 156. 5 million in 2018 and is projected to reach USD 232.1 million by 2023, at a CAGR of 8.2% during the forecast period. The market is driven by factors such rise in clean label food, increase in demand of trans-fatty acid and healthy snacking, and the replacement of artificial and synthetic emulsifier with natural and eco-friendly emulsifiers such as de-oiled lecithin in various different regions.
Increase in health-conscious consumers due to hike in obesity cases in developed regions such as North America and Europe are expected to drive the demand for de-oiled lecithin in the food applications. Further, Asian countries such as China and India are witnessing an increase in demand for healthy and less fatty functional food among consumers in the region.
The demand for food products such as sugar confectionery, chocolates, and convenient foods is estimated to increase in the region, subsequently driving the growing demand for de-oiled lecithin. In addition, the population in European and North American countries are facing health issues such as weight gain and obesity. This leads to a shift toward less oily and healthy food ingredients, thus providing a lucrative opportunity for de-oiled lecithin manufacturers for food.
The soybean source segment is estimated to account for the largest share of the de-oiled lecithin market in 2018. The demand for soy de-oiled lecithin is expected to increase at a significant rate in animal feed applications, owing to low cost when compared to other types of de-oiled lecithin, which helps reduce the over feed cost and increase yield, especially in developing and emerging countries. Further, the European Food Safety Authority has authorized the use of de-oiled lecithin as feed additives for all animal species boosting the demand for soy de-oiled lecithin in the region.
Leading companies are DowDuPont (US), Cargill (US), Archer Daniels Midland (US), Bunge Limited (US) and Stern Wywiol Gruppe (Germany). Other players include Lecico GmBH (Germany), American Lecithin Company (US), Lecital (Austria), Lasenor Emul (Spain), GIIAVA (INDIA) PVT. LTD (India), Novastell Essential Ingredients (France), Rasoya Proteins Ltd. (India), Clarkson Grain Company, Inc. (US), Amitex Agro Product Pvt. Ltd. (India), and Austrade Inc. (US).
