Lecithin Market How will COVID-19 Affects Food & Beverages Industry?
The global lecithin market is expected to witness growth at an accelerated pace during the forecast period owing to increasing consumer awareness about the consumption of nutritional diet, including healthy fats such as lecithin says, Fortune Business Insights
Some of the key companies that are present in the global lecithin market include
Archer Daniels Midland Company
Sime Darby Unimills
Global River Food Ingredients and DowDuPont.
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Improvement in Lifestyle and Eating Habits to Stir the Growth of Global Lecithin market
The remarkable rise in awareness concerning healthy diet, improved lifestyles, and health benefits offered by lecithin are forecast to drive the lecithin market. Other growth drivers include rising inclination towards the use of organically sourced products and rise in the use of lecithin by health care and pharmaceutical industries.
Rise in income level improves lifestyles, specifically in the developing countries of Asia-pacific. This additionally boosts the growth of the lecithin market in the region. Factors such as increase In per capita income, changes in consumer behaviour, and rising awareness regarding nourishment and diet are anticipated to speed up the adaptation of lecithin in the coming years.
Major Segmentation includes;
Food & Beverages
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The rising demand from developing countries and increasing applications in the nutraceuticals industry are likely give impetus to the global market players during the forecast period.
Growing inclination towards a healthy lifestyle and increasing demand for nutrient rich food & beverages and supplements are expected to aid the expansion of the market. Lecithin are made of phospholipids which are sourced from oilseeds, comprising of sun flower, rapeseed and soy.
The product offers several health benefits. The increasing awareness about the same is fuelling its demand in food and beverages, pharmaceutical, and cosmetic industry. Companies are experimenting to create food products to help consumers reduce their calorie and sugar intake without compromising on the taste. Such initiatives by the leading players are expected to bode well for the overall market.
Also, consumption of bakery products such as cupcakes, pastries, pies including bread and brioche supports launch of an impressive product range which in turn drives the growth of industry.
Manufacturing Cost of Lecithin May Hinder Growth, Affecting the Global Market
Rise in R&D efforts by companies aimed at advanced product improvement are likely to support growth of the market. However, religious restrictions associated with the consumption of lecithin along with the volatility in prices of raw materials used for the production, are expected to hinder growth for global lecithin market in the upcoming years.
North America Likely to Dominate Global Market of Lecithin
North America is expected to be the fastest growing region in the global lecithin market due to the presence of health-conscious population in the region, who are focused on adding nutritional and healthy food items in their regular food. Higher disposable income of consumers in Europe and America is expected to propel the growth of the lecithin market in the forthcoming years. Consumers in Europe prefer the lecithin ingredient derived from the sunflower seed over soybean soured.
Asia Pacific is projected to witness growth at an accelerated pace over the forecast period in the global lecithin market. Growth is likely to be driven by the increasing focus on research & development of lecithin for its more expanded utilization in pharmaceutical applications. Growing healthcare and nutrition expenditure of people in Asian countries, especially in China, South Korea, India, and Japan are expected to propel the growth of the lecithin market in the APAC.
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