Global lecithin market is anticipated to reach over USD 1,605 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
According to the recent research, based on the source of lecithin, soy segment held the biggest revenue share of the global market in the year 2017. In terms of regional contribution, Europe was the chief contributor to the worldwide lecithin market revenue in the year 2017.
The study cites that a substantial increment in the awareness pertaining to healthy diet, health benefits of using lecithin, and changing lifestyles spur market progression. Other market propellers include increasing preference for naturally acquired products, and surging utilization of Lecithin in pharmaceutical and medicinal applications. Lifestyle improvements based on increasing income level, particularly in the emerging economies of Asia-Pacific, are adding significant momentum to market growth.
Industry experts believe that hike in per capita income, consumer behavior changes, and surged awareness about health & nutrition would further expedite the adoption of lecithin in varied applications over the projected timeline. Surging demand from emerging nations, as well as rising utilization in the nutraceutical industry, are projected to offer stupendous growth opportunities to market players in the foreseeable future.
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Depending on regional proliferation, the Europe market amassed the highest revenue in the global market in the year 2017. The high revenue creation can be attributed to burgeoning health awareness in the region along with the high disposable income of individuals. The surging demand for Lecithin across Europe is majorly powered by high consumer awareness with regards to the outstanding advantages offered by lecithin and rising industrial applications.
The findings of the report also suggest that Asia-pacific is projected to grow at a rapid pace demonstrating the maximum CAGR in this market space, on account of surging disposable income in emerging nations of this regional segment and increasing demand of Lecithin for pharmaceutical and animal feed.
The competitive landscape of the global lecithin market encompasses ace regional and international players including Soya International, VAV Life Sciences Pvt. Ltd., Northland Organic Food Corporation, American Lecithin Company, Wilmar International, Archer Daniels Midland, Cargill, Inc., E. I. DuPont de Nemours Company, Lipoid GmbH, and Stern-Wywiol Gruppe Pvt. Ltd. These organizations capitalize on new product launches and strategic collaborations to enhance their foothold in the global market.
The study provides a thorough analysis of the market with respect to Porter's five forces including bargaining power of supplier, bargaining power of buyer, threat of substitute, threat of new entrant, and degree of competition. Insights pertaining to lecithin market dynamics including market forces, drivers, challenges, and opportunities have also been included in the report.