LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global lecithin market is expected to reach USD 1,093.7 million by 2021, growing at a CAGR of almost 6%.
This research report titled ‘Global Lecithin Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Lecithin is a lipid material that contains choline and inositol, which is found in all living cells. It is directly consumed through lecithin-rich foods such as eggs, soy, sunflower, and others. Lecithin is sold as a food supplement and for medical uses. It is used in the treatment of gallbladder diseases, liver problems, some types of anxiety, depression, and eczema. It is also a vital ingredient in eye medications. The United States Food and Drug Administration (USDA) has confirmed lecithin as safe for food use. Lecithin is approved as a food additive under other internationally recognized standards.
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Technavio’s food and beverage research analysts categorize the global lecithin market into the following segments by source. They are:
- Soy
- Sunflower
- Egg
- Others
The top three source segments for the global lecithin market are discussed below:
Soy
Soybeans are the most important source of commercial lecithin as lecithin is an important byproduct of the soy oil processing industry. It is used in many food and industrial products. Commercial soy lecithin contains nearly 30%-35% of unrefined soy oil.
According to Manjunath Reddy, a lead food research analyst from Technavio, “Lecithin extraction from soybeans is low-cost. Thus, soy lecithin is a common ingredient in chocolate bars, creams, and sauces. Many snacks and biscuits manufacturers are using soy lecithin as an ingredient in their products.”
Sunflower
The global sunflower lecithin market is expected to witness a high growth rate during the forecast period. Sunflower lecithin is considered as a more sustainable alternative to soy lecithin. Chocolate manufacturers are increasingly using it. Sunflower lecithin makes the chocolates slightly sweeter as compared to soy lecithin which gives a beany taste to chocolates.
“Sunflower lecithin is the preferred alternative to soy lecithin, primarily in Europe and the US. It has a nutty taste and emulsifying properties. The main sunflower growing regions are Argentina, France, Hungary, Ukraine, and Russia,” says Manjunath
Egg
Egg lecithin acts as a surfactant and has several emulsification and lubricant properties. It can be integrated into the cell membrane in humans and need not be metabolized. It can be well tolerated by humans and is non-toxic when ingested. Egg lecithin is not a concern for those allergic to eggs as commercially available food-grade egg lecithin does not contain the allergy-causing proteins.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Archer Daniels Midland (ADM)
- Bunge
- Cargill
- DuPont
- Lipoid
- Stern-Wywiol Gruppe
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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