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Lecithin Market Growth Analysis By Regional Players | 2019-2024
Lecithin Market
Growing consumer demand towards various bakery products like breads, pastries and cakes may drive lecithin market demand. Emulsifying properties may cater to pharmaceutical and cosmetic industries, thus propelling the industry growth over the forecast timeframe. They are applied in manufacturing of various confectionary products which includes fudges, chocolates, caramels and toffee owing to its antioxidant and flavor protective properties. Pharmaceutical industry prefers soy product owing to its maintenance in oil-in-water and water-in-oil emulsion, thus increasing the industry demand.
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Key Profiles:
• ADM
• SOYA
• Cargill
• Bunge
• Lekithos
• Sun Nutrafoods
• Haneil Soyatech
Rapeseed or canola lecithin market size may surpass consumption at over 29 kilo tons by 2024. Increasing demand for non-GMO lecithin for its allergen free, lubricant, antioxidant and dispersing properties is expected to boost the product demand. They have technical properties similar to soy and sunflower and can be substituted in ratio of 1:1 for both.
Rapeseed lecithin market share from cosmetic applications may account for over 10% of the total demand by 2024. This oil is widely used as a remedy for skin ailments as it acts as a rich source of vitamins E & K which reduces skin afflictions and aging signs like acne, fine lines, spots and wrinkles. It also contains anti-oxidant in good amount which protects the skin from oxygen free radicals thus, making it soft and nourished and enhance the overall product demand.
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Egg yolk lecithin market demand was estimated at over USD 115 million in 2017. It constitutes 66% to 76% of phosphatidylcholine and is used to repair cell membranes. These product act as an emulsifier and is successful in mixing two immiscible liquids. Eggs are widely used in food products owing to its emulsifying properties in products like mayonnaise which aids to blend water and oil, thereby driving the product demand.
U.S. canola lecithin market demand may witness growth at over 4.5% over the forecast period. Increasing demand for various organic cosmetic products owing to several benefits may boost product demand in the region. Growing demand for various skincare products which includes creams, and lotions, may foster industry growth. The consumers are now focusing towards organic, ethical and vegan cosmetic products which may enhance market demand.
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Germany egg yolk lecithin market size from food & beverages is anticipated to register gains around 2.5% by 2024. Increasing convenience of ready to eat products and changing food preferences coupled with low fat and organic baked products are predicted to provide a stimulus to the industry growth.
ADM, SOYA, Bunge, Lekithos and Sun Nutrafoods are key industrial players in lecithin market. Strong R&D spending and new product launches may enhance the product portfolio, thereby stimulating the industry growth.
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