Global Phospholipids Market to Reach US$ 7.8 Billion by 2032 with 7.3% CAGR

The global phospholipids market was estimated to be worth US$ 3.8 billion in 2022 and is projected to grow to US$ 7.8 billion by 2032. It is anticipated that the usage of phospholipids in mRNA vaccines and medication delivery systems will increase demand even more.

With a CAGR of 5.5%, an absolute dollar potential of US$ 1.3 billion, and a projected market size of US $2.8 billion by 2032 at a CAGR of 7.7%, the US is the centre of the worldwide demand. The US government began to assist many phospholipid producers in order to increase lipid production as a result of the COVID-19 outbreak. For lecithin, the FDA issues a GRAS affirmation. For instance, BARDA and other agencies announced agreements with Croda International Plc and Evonik Industries to increase lipid synthesis for mRNA vaccines.

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Key Findings of Phospholipids

The global phospholipids market is poised for significant growth, driven by the rising demand across food, cosmetic, and pharmaceutical industries. This surge is primarily due to increasing awareness of phospholipid-based products, a growing number of health-conscious consumers, and heightened demand for dietary supplements. Key players such as Avanti Polar Lipids, Lipoid GmbH, Kowa Company, Lipoid LLC, and BASF SE are at the forefront of this market, leveraging innovative strategies to strengthen their market presence. These strategies include new product launches, expansions, mergers and acquisitions, and collaborations, which collectively contribute to the dynamic and competitive nature of the market.

The Asia-Pacific region is expected to be the fastest-growing market for phospholipids, fueled by the rapid expansion of its food, pharmaceutical, and cosmetic industries. This region's growth is further bolstered by increased consumer awareness and demand for health-enhancing products. As the market evolves, major players continue to adapt by implementing strategic initiatives to capitalize on emerging opportunities. This proactive approach is essential for maintaining a competitive edge and addressing the diverse needs of consumers globally, ensuring sustained market growth and innovation in the phospholipids sector.

List of Key Companies Profiled in The Report

Archer Daniels Midland Company
Croda International Plc.
Bunge Ltd.
Cargill, Inc.
Kewpie Corporation
Lasenor Emul SL
Lecico GmbH
Lipoid GmbH
Sime Darby Unimills B.V.
SojaProtein a.d.
Stern-Wywiol Gruppe
VAV Life Sciences Pvt. Ltd.
Wilmar International Ltd.
Others

Country-wise Insights

The United States is a significant player in the phospholipids market, experiencing a CAGR of 5.5% and presenting an absolute dollar opportunity of US$ 1.3 billion. By 2032, the market size is projected to reach US$ 2.8 billion at a CAGR of 7.7%. The FDA's GRAS affirmation for lecithin supports this growth. In June 2022, Croda International Plc announced a partnership with the US government to expand manufacturing capacity for lipid systems used in novel drug delivery. This collaboration includes a US$ 75 million investment from the government and US$ 58 million from Croda for a new lipid facility. This funding is a joint award from BARDA, the US Department of Health and Human Services, and the US Department of Defense's Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defence.

The UK is emerging as a key contributor to global phospholipids demand, with a CAGR of 6.7% and an absolute dollar opportunity of US$ 172 million, forecasting a market size of US$ 349 million by 2032 at a CAGR of 7.1%. In March 2022, Croda International Plc received a £15.9 million (approximately US$ 20.8 million) grant from the UK government to boost specialty lipids production at their Leek facility. In Japan, the phospholipids market was valued at US$ 155 million in 2021 and is expected to reach US$ 315 million by 2032, growing at a CAGR of 6.7%, with an absolute dollar opportunity of US$ 150 million. South Korea's market is projected to reach US$ 189 million, with an absolute dollar opportunity of about US$ 100 million during the forecast period, growing at a CAGR of 7.6%.

More Insights Available

With this latest product, Fact.MR offers a dispassionate evaluation of the global phospholipids industry, including market data from 2017 to 2021 and projections for 2022 to 2032.

The analysis shows significant growth in the global phospholipids market across five regions (North America, Asia Pacific, Europe, Middle East & Africa, and Latin America) by source (soy, eggs, and other sources) and by application (nutrition and supplements, pharmaceuticals, and other applications).

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Competitive Landscape

Phospholipid providers are ramping up production to meet growing demand across various applications. Recent developments include several strategic initiatives and product launches. In June 2022, Germany's LECICO GmbH introduced LIPAMINE PC 30 P IP, a soy-sourced phospholipid intended for nutraceuticals and pharmaceuticals. Similarly, Evonik Industries, in the same month, entered an agreement with the US government to expand lipid manufacturing for mRNA therapies, including COVID vaccines, backed by a US$ 220 million investment. In November 2021, Bunge Loders Croklaan announced a new production facility in the Port of Amsterdam, slated for completion in 2024. Earlier, in April 2021, VAV Lifesciences, through its subsidiary VAV Lipids, secured a supply agreement with a US-based CDMO for phospholipids used in mRNA-based COVID vaccines for companies like Pfizer-BioNTech and Moderna. Additionally, in March 2021, Lecico and Ciranda formed an exclusive North American distribution agreement. In January 2021, Fonterra Co-Operative Group Limited launched milk phospholipids sourced from non-GMO, rBST-free, grass-fed cows, targeting mental stress relief and nutraceuticals. These developments underscore the competitive landscape and the continuous innovation in the phospholipids market.

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This release was published on openPR.