Deoiled Lecithin Market Analysis, Overview, Size, Share, Growth Trends
The de-oiled lecithin market is estimated to be worth USD 220 million in 2023 and is expected to reach USD 321 million by 2028, growing at a CAGR of 7.8% from 2023 to 2028.
Rising consumer awareness of the health benefits of clean-label products and beverages will also contribute to market growth. The increasing use of de-oiled lecithin in a variety of industries, including packaged foods, pharmaceuticals, baked goods, dairy, meat, convenience food, frozen desserts, margarine, and cosmetics, will also drive market growth.
The largest market share in the de-oiled lecithin market is estimated to be held by the soybean segment. Soybean is a type of legume that originated in East Asia, and China is the leading producer of soybean oil, with a production volume of approximately 15.68 million metric tons in 2021/2022, according to the USDA.
Soy lecithin is commonly used in food as an emulsifier and lubricant, and it also has antioxidant properties that help preserve food flavors. Due to its widespread availability, soybean is a popular choice among de-oiled lecithin manufacturers. Furthermore, compared to other commodities, extracting de-oiled lecithin from soybean is relatively inexpensive, making it a cost-effective option for producers. The personal care and pharmaceutical industries are increasingly using de-oiled soybean, which will further boost soybean development.
The segment with the highest growth rate in de-oiled lecithin is estimated to be the powder form. Powdered de-oiled lecithin is easier to handle and transport, has a longer shelf life than liquid lecithin, and is more convenient for manufacturers to use and store. This reduces the risk of product wastage. Furthermore, powdered de-oiled lecithin is more versatile than other forms, and it can be easily added to dry mixtures such as bakery mixes without altering the texture or moisture content of the final product. Because of this, it is ideal for use in a variety of applications, including food, feed, and industrial products.
The market is divided into four segments based on application: food and beverages, feed, industry, and healthcare. De-oiled lecithin is a natural preservative that enhances the shelf life of baked goods by retaining moisture, thereby prolonging their freshness. It preserves the flavor of food and has antioxidants, which is why its use in the food industry is increasing. It is used as an emulsifier in packaged foods, and is also being used to enhance the consistency, flavor, shelf-life, and texture of vegan products. The food industry's growing use of de-oiled lecithin is driving the segment's expansion.
The Asia-Pacific region is expected to hold the largest market share in 2023. The region's booming economy and growing food and beverage industry have prompted local companies to expand their product portfolio, including de-oiled lecithin. Additionally, countries like China and India have seen a rise in cultivation areas, which is likely to drive regional market growth.
Some of the market players include Sonic Biochem (India), Amitex Agro Product Private Limited (India), AV GROUP (India), and Lecilite (India), among others.
Comments
Post a Comment