Lecithin is a naturally occurring fatty substance in animal and plant tissues, while phospholipid, which is a class of lipids, is a major component of lecithin. Both of these are active components in various products used for dietary and nutritional supplementation. The growing demand as nutraceutical ingredients along with various other applications of these products are driving the demand in the lecithin & phospholipids market during the next few years to come. The phospholipids find applications in pharmaceuticals, while technological advancements in the overall market are also expected to drive the demand patterns across the global market. As a result, businesses from around the world are hoping for positive investments and global expansions in the industry.
Drivers and Opportunities
Versatility of lecithin is contributing towards growing its end-user applications. Growth in the adoption rate of these products is considered to be a great sign for the global market. Increasing consumer awareness towards health, wellbeing and fitness also serves as a vital driver for the global lecithin and phospholipids market. Growth in demand for phospholipids with the increasing applications in the healthcare segments is also crucial for the industry. Changing customer preferences and rising demand for the natural ingredients are also expected to drive the market. Growing demand for non-GM lecithin across the developing markets and overall opportunities for investment in the emerging markets are also hoping to create better investment and business opportunities for the existing businesses.
Segments and Forecasts
The global lecithin & phospholipids market is segmented on the basis of the types of sources, applications and geography. The types of sources include sunflower, soy, egg and other products, which are used in the applications like nutrition and supplements, foods, cosmetics, pharmaceuticals and other products. On the basis of geography, researchers segment the global market into Asia Pacific, Europe, North America and the rest of the world. Despite all the driving factors and growth opportunities the industry is struggling with certain hindrances. These hindrances include growing soy lecithin allergy and health hazards through the use of hexane, which is used for the extraction of lecithin. Fluctuating prices of phospholipids and lecithin are also expected to impact the industry growth.
However, during the timeframe of 2014 to 2019, the global lecithin and phospholipids market is expected to grow at a steady CAGR of over 5%. At the forecasted growth rate, it is expected to reach past $5,067.5 million by 2019. Asia Pacific is expected to dominate the geographic regions, while the food applications are estimated to record maximum demand and market share during the forecasting period.