The global lecithin market was valued at USD 1.15 billion in 2018 and is projected to reach USD 1.59 billion by 2023, at a CAGR of 6.7% during forecast period. The global phospholipids market was valued at USD 3.23 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 6.2% during forecast period. The lecithin market is driven by factors such as increased demand from the feed segment, a shift in preference towards convenience foods in the emerging economies of the Asia Pacific and South American regions. On the other hand, the phospholipids market is driven by the increased demand for natural ingredients in personal care products and cosmetics in countries such as China, India, Japan, and South Korea.

Key Players:

•             Cargill (US)

•             ADM (US)

•             Stern-Wywiol Gruppe (Germany)

•             DowDuPont (US)

•             Bunge (US)

•             Lipoid GmbH (Germany)

•             Wilmar International (Singapore)

•             Sonic Biochem Extractions (India)

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Market Dynamics

Drivers:

•             Multifunctionality in Various End-Use Industries

•             Growing Demand for Naturally Sourced Ingredients

•             Increasing Demand for Phospholipids in the Pharmaceutical and Cosmetics Industries

Restraints:

•             Health Concerns Regarding the Consumption of Soy Lecithin

•             Concerns Regarding the Negative Impact of Gmo Soy Lecithin

Opportunities:

•             Emerging Markets: New Growth Frontiers

•             Growing Demand for Alternate Sources of Lecithin

•             Investments in the Development of Industrial Applications

Challenges:

•             Fluctuating Prices of Raw Materials

Target Audience:

•             Lecithin & phospholipid producers, suppliers, distributors, importers, and exporters

•             Manufacturers from industries such as confectionery products, chocolate, bakery products, nutrition & supplements, cosmetics, pharmaceuticals, paints, herbicides, and feed

•             Government and research organizations

•             Associations and industry bodies such as National Soybean Processors Association (NSPA), the United States Department of Agriculture (USDA), the Food and Drug Administration (FDA), The European Vegetable Oil and Protein meal Industry (FEDOIL), European Feed Manufacturers’ Federation (FEFAC), European Feed Safety Ingredients Certification (EFISC), The Soybean Processors Association of India, American Soybean Association (ASA), United Soybean Board (USB), National Aquaculture Association (NAA), Brazilian Association of Vegetable Oil Industries (ABIOVE), Canadian Oilseed Processors Association (COPA), Cosmetics Toiletries and Fragrance Association (CTFA), the International Soybean Growers Alliance (ISGA), the Australian Oilseeds Federation (AOF), the Paraguayan Chamber of Cereal and Oilseed Exporters (CAPECO), Ukrainian Association of Producers and Processors of Soya, Cámara de la Industria Aceitera de la República Argentina (CIARA), and National Oilseed Processors Association (NOPA)

Based on source, the sunflower segment of the lecithin market is projected to grow at the highest CAGR during the forecast period

Based on source, the lecithin market has been segmented into soy, sunflower, rapeseed, and eggs while the phospholipids market is segmented into soy and egg. The sunflower segment is projected to grow at the highest CAGR during the forecast period. For food applications, the preferred lecithin is non-GMO lecithin, due to concerns about health issues related to the consumption of genetically modified products and strict regulations in regions such as Europe. The lecithin extracted from soy is generally GM; hence, end-user industries are switching to other options such as sunflower and rapeseed. The wide availability of sunflower in European countries such as Ukraine and Russia is also expected to favor the growth of the lecithin market in this region.

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In terms of application, nutrition & supplements segment is estimated to account for the largest share of the phospholipids value market

The nutrition & supplement segment is estimated to account for the largest share of the phospholipids market in 2018. The demand for phospholipids is growing in the developing economies of Asia Pacific, Eastern Europe, along with Africa, and the Middle East. Developing regions are expected to emerge as the fastest-growing consumers of phospholipids for pharmaceuticals and nutrition & supplement applications, due to the continuous increase in the per capita income in these regions and the increase in health awareness among consumers for natural ingredients.

Geographic Prominence:

The Asia Pacific region accounted for the largest share of the phospholipids market in 2017 market. Changes in consumer preference toward natural ingredients have increased the demand for phospholipid products. In Asia Pacific, a rise in the young population (under 30 years of age) and rising awareness about health have prompted consumers to opt for healthier alternatives such as food supplements. Furthermore, increased demand for bakery items such as cakes, pastries, and cookies will also drive the demand for lecithin in the region.