The market for lecithin & phospholipids is growing with the increase in their applications. The increase in demand for convenience foods, nutrients, and supplements is the major driver for this market. The increasing consumer awareness and health concerns have led to increase in demand for phospholipids. Lecithins are used globally as food additive and surfactant. The increase in income and changes in lifestyles in developing countries has resulted in an increase in demand for convenience foods and healthcare products, which has resulted in the growth of the lecithin & phospholipids market. This has created new opportunities for manufacturers to produce lecithin & phospholipids as per the demand in various applications. The major limitation in this market is the increasing prices of raw materials.
Lecithin & phospholipids are widely used in various industries such as food, pharmaceuticals, feed, and cosmetics. In these industries, the manufacturing of products requires mixing, blending, and even distribution of ingredients. Lecithin is commonly used as a food additive and surfactant. Lecithin & phospholipids are used as viscosity modifiers and lubricants. Various technologies such as extraction technology, membrane technology, non-GM lecithin, and PS are used to manufacture lecithin. The increase in demand for convenience foods, healthcare products, and bakery goods has resulted in increase in the use of lecithin as an emulsifier in the food and pharmaceutical industries. With increase in disposable income, the demand for convenience foods and bakery products has increased, which has resulted in growth of the food segment in the lecithin market. Phospholipids are beneficial to human health. Phospholipids form cell membranes and help in absorbing nutrients. The benefits of phospholipids have resulted in its use in the pharmaceutical industry. The increase in health concerns among consumers has led to increase in demand for healthcare products, which has resulted in increase in demand for phospholipids for pharmaceutical and medicinal applications.
The market for lecithin is projected to reach USD 1.11 Billion by 2020, with increasing applications of lecithin & phospholipids and rising opportunities in emerging region such as the Asia-Pacific The lecithin and phospholipids market was valued at USD 784.5 Million and USD 1.67 Billion in 2014 and is projected to grow at a CAGR of 5.9% and 19.1% from 2015 to 2020 respectively. In 2014, the market was dominated by Europe. The Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020, in terms of both, value and volume, due to increase in demand for convenience foods, nutrition, and supplements.
The Lecithin & Phospholipids Market is an emerging one, with key market players driving the growth with new product developments, expansions, mergers & acquisitions, and agreements to maintain their position in the lecithin & phospholipids market. Key players adopted these strategies to enhance their product portfolio and tap potential markets.
The lecithin & phospholipids industry has many players, (small-, medium-, and large-scale); however, it is dominated by a few. The key players in this market are Cargill Incorporated (U.S.), Archer Daniels Midland (U.S.), Lipoid GmbH (Germany), E.I.du Pont de Nemours Company (U.S.), and Stern-Wywiol Gruppe GmbH & Co. KG (Germany).Other players such as Ruchi Soya Industries Limited (India), Avanti Polar Lipids Incorporated (U.S.), Lasenor Emul SL. (Spain), Lecico GmbH (Germany), VAV Life Sciences Pvt. Ltd (India) are also expanding their presence in the market.
