Soy lecithin is growing popularity in the feed application in recent years

The global lecithin market was valued at USD 1.15 billion in 2018 and is projected to reach USD 1.59 billion by 2023, at a CAGR of 6.7% during forecast period. The global phospholipids market was valued at USD 3.23 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 6.2%

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Based on source, the lecithin market has been segmented into soy, sunflower, rapeseed, and egg. The soy segment is estimated to account for the largest share in the lecithin market in 2018. It is widely preferred among manufacturers owing to sufficient availability of soybean and cheap extraction process. Soy lecithin is growing popularity in the feed application and is also being used as a replacement to cocoa butter in the chocolate industry, owing to rise in price of cocoa butter. Based on source, the phospholipids market has been segmented majorly into soy and egg. The soy segment is estimated to account for the largest share of the phospholipids market in 2018. Increased demand for natural sources in the cosmetics and pharmaceutical industry has boosted the demand for soy-based phospholipids at a global level.

By application, the lecithin market has been segmented into feed, food, industrial, and healthcare. The feed segment is estimated to be the largest segment in 2018, and this trend is expected to continue through the forecast period owing to factors such as a shift in preference to protein-rich diets in emerging economies such as China, and increasing demand for soy lecithin in the feed segment. The phospholipids market, based on application, is segmented into nutrition & supplements and pharmaceuticals. The nutrition & supplements segment is estimated to be the largest in 2018 for phospholipids.

Asia Pacific is estimated to occupy the largest share of the global lecithin & phospholipids market, in terms of value and volume. Export opportunities of non-GMO lecithin from countries such as India to the European market is expected to drive the lecithin market in the region. Sonic Biochem Extractions and Shankar Soya Concepts are some of the key players based in India offering non-GMO lecithin to the European market. Apart from this, the booming aquaculture industry in China is expected to boost the demand for lecithin in the feed segment. On the other hand, increased demand for personal care products and cosmetics in countries such as Japan and South Korea is expected to drive the phospholipids market in the region.

Allergies associated with soy are another major challenge faced by consumers, impacting the growth of the lecithin market. The market is dominated by key players such as Cargill (US), ADM (US), Stern-Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US). Other companies include Lipoid (Germany), Wilmar International (Singapore), Sonic Biochem Extractions (India), Avanti Lipids Polar (US), Lecico (Germany), VAV Life Sciences (India), Sodrugestvo (Luxembourg), Kewpie (Japan), Sojaprotein (Serbia), American Lecithin Company (US), Sime Darby Unimills, Lecital (Austria), and Lasenor Emul (Spain).

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