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Phospholipid Market Size, Trends & Forecast Analysis 2024-2033
Phospholipid Market Size
According to The Business Research Company's, The phospholipid market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rising demand for natural ingredients, pharmaceutical applications, nutraceutical and dietary supplements, cosmetics and personal care, food industry applications..
The phospholipid market size is expected to see strong growth in the next few years. It will grow to $4.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to nutraceutical and functional foods, clean label trend, cosmetics and personal care innovations, biotechnological and industrial applications, research and development investments. . Major trends in the forecast period include advanced drug delivery systems, functional foods and supplements, liposomal formulations, research in lipidomics, enhanced cosmetic formulations..
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Market Drivers and Trends:
The growing adoption of a healthy lifestyle is expected to boost the growth of the phospholipid market going forward. A healthy lifestyle is defined as an individual having good physical, mental, and social health. Maintaining a healthy lifestyle requires a regular intake of phospholipids through diet and supplementation that help to prevent and treat a wide range of medical disorders such as cardiac health, brain health, liver protection, and others because it supports a wide range of physiological functions such as continuing growth, maintenance, and repair of each cell. For instance, a survey commissioned by the British Nutrition Foundation, a UK-based registered charity, that delivers impartial, authoritative, and evidence-based information on food and nutrition, revealed that in 2021, approximately 62% of Britishers have made a change to their diet to get healthier over the past year. Therefore, the growing adoption of a healthy lifestyle is driving the growth of the phospholipid market.
Product innovation has emerged as the key trend gaining popularity in the phospholipid market. Major companies operating in the market are developing innovative products to strengthen their position in the market. For instance, in January 2021, Fonterra Co-operative Group Limited, a New Zealand-based dairy nutrition co-operative, launched NZMP milk phospholipids, a milk-based phospholipid. NZMP Milk Phosphide is produced using non-GMO, rBST-free, grass-fed New Zealand cow's milk with minimal lactose and sugar content and higher healthy whey protein, that helps in muscle growth and recuperation. Additionally, the pleasant flavor of milk can be used in numerous food and beverage products to enhance nutritional value.
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Major Key Players of the Market:
The Archer-Daniels-Midland Company; Bunge India Private Limited; Cargill Incorporated; Wilmar International Limited; Lasenor Emul SL; Kewpie Corporation; Lipoid GmbH; Sojaprotein; VAV Life Sciences Pvt. Ltd.; Avanti Polar Lipids Inc.; Lecico GmbH; Sime Darby Oils Zwijndrecht Refinery B.V.; Stern-Wywiol Gruppe; Berg + Schmidt India Pvt. Ltd.; Novastell India Private Limited; American Lecithin Company; Austrade; Barentz International BV; Beijing Gingko-Group Biological Technology Co. Ltd; Bergstrom Nutrition Inc.; BioActor BV; Bioiberica S.A.U.; Caelus Health B.V.; Chemi S.p.A.; Croda International Plc.; Denofa AS; De Nederlandse Staatsmijnen; Enzymotec Ltd.; Royal FrieslandCampina N.V.; Gnosis Advanced Biotech; HARKE Chemicals GmbH; Jiusan Oils & Grains Industries Group; Kerry Group plc.
Phospholipid Market 2024 Key Insights:
• The phospholipid market will grow to $4.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• The Rise Of Healthy Lifestyles Boosts Phospholipid Market
• Product Innovation Drives Growth In The Phospholipid Market
• North America was the largest region in the phospholipid market in 2023
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