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Lecithin Phospholipids Market to Flourish with an Impressive CAGR Forecast to 2020
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Based on the different type of lecithin the market can be segmented in four different classes namely, standardized or refined, fractionated, de-oiled, and modified. On the basis of various applications the global lecithin market can be broadly classified in four different segments namely food, animal feed, nutrition & supplements, and cosmetics. Food was the largest market segment of lecithin whereas nutrition & supplements is the fasted growing market segment in 2013.
Based on the different sources the global phospholipids market can be divided in three broad categories namely soy, egg and others. Soy is the largest market segment in 2013 owing to the easy and cheap availability. On the basis of various end user applications of phospholipids the market can be broadly categorize in three broad segments namely, pharmaceuticals, nutrition & supplements, and others. Pharmaceutical was the largest application segment whereas the nutrition and supplements is the fasted growing application segment of phospholipids in 2013.
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The increasing demand for green and naturally sourced ingredients, coupled with increasing consumer awareness towards healthy life style are two dominant drivers of the global lecithin & phospholipids market. More over the increasing consumption of convenience foods and functional food and beverages drives the lecithin market
Individual allergy soy lecithin, the health hazards associated with use of hexane to Extract Lecithin from Soybean, and continuously fluctuating price of the raw materials are acting as some of the major challenge for the industry. Growing demand for Non-genetically modified lecithin in Europe and North America is providing new market opportunity for global Lecithin & Phospholipids Market
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Europe is the largest market for lecithin and phospholipids followed by North America and Asia Pacific. The high level of consumer awareness about functional food and growing health concerns among consumers is keeping growth highest in Asia Pacific region. Moreover the increasing demand for convenience food in changing life style scenario in this region is expected to boost the market even further in upcoming years.
Some of the leading companies operating in global lecithin & phospholipids market include, Archer Daniels Midland Company (ADM), Cargill Incorporated, Lasenor Emul Sl., Lipoid Gmbh, Stern Wywiol Gruppe, Avanti Polar Lipids Inc, E. I. DU Pont DE Nemours and Company, Lecico Gmbh, Ruchi Soya Industries Limited, and Vav Life Sciences Pvt. Ltd.
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