Phospholipid Market expected to reach $5,647.1 million by 2030, at a CAGR of 7.1%
The global phospholipid market was valued at $2,846.1 million in 2020, and is projected to reach $5,647.1 million by 2030, registering a CAGR of 7.1% from 2021 to 2030. In 2020, the soy segment accounted for the highest share in the phospholipid market size.
Phospholipid are extracted from the same base as lecithin such as egg, soy and others. Phospholipid have various features such as oil and water trending properties, viscous, soft and they are orange-brown coloured substance. They are used in various end use industries pharmaceutical, cosmetics, nutrition & supplements and others.
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Increasing demand for naturally sourced ingredients, rising consumer awareness towards healthy lifestyle with growth in consumption of convenience foods and functional foods are the factors which spurs the growth of the market. However, lack of awareness and the costliness of some variations of phospholipid are the restraining factors of this phospholipid market growth.
Phospholipid are a gathering of naturally happening particles that include fats, waxes, sterols, fat-soluble vitamins such as vitamins A, D, E, and K, and others. The main natural capacities of phospholipid incorporate storing energy, flagging, and acting as components of cell layers. Phospholipid are broadly used in different industries such as personal care & cosmetics, food & beverage, and pharmaceutical. The surge in the usage of phospholipid in industrial applications is the key factor contributing to the significant growth of the phospholipid market.
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Development in the field of phospholipid is getting to be a major issue for a cosmetics industry that's continually evolving, using raw materials obtained by taking after the most ecological friend and secure methods, which are directed each step of the way, to ensure its customers the most elevated levels of quality, adequacy, and security. Such advancements are frequently the natural product of long-standing association between open research facilities and private companies.
The key players operating in the phospholipid market are constantly focusing on innovation and developing new cosmetic products from various natural substances because nowadays an increase in the popularity of organic cosmetic products can be witnessed. Therefore, the producers are investing in R&D for bringing in better outcomes of the products in the market.
The soy segment dominated the global phospholipid market with around 47.8% share of the overall revenue in 2020. The nutrition and supplements segment is expected to witness significant growth during the phospholipid market forecast period, owing to the rise in health awareness among consumers globally as lecithin is used for treating memory disorders such as Alzheimer and dementia. It also used to improve cardiovascular health and helps in digestion. Furthermore, granulated segment is expected to grow at the highest CAGR during the forecast period, as it contains essentially ready nutraceutical that offers nutritional benefits to consumers.
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The key players profiled in phospholipid market include Archer Daniels Midland Company, Bunge Ltd, Cargill, Incorporated, DuPont de Nemours, Inc, Kewpie Corporation, Lasenor Emul SL, Lipoid GmbH, SojaProtein a.d, VAV Life Sciences Pvt. Ltd, and Wilmar International Ltd.
Key findings of the study
By source, the soy segment held the highest share, accounting for 47.8% of the global phospholipid market.
Based on form, the powder segment held the major share of 70.6% of the phospholipid market.
Region wise, North America held the major share in the market, and is expected to remain dominant throughout the forecast period.
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