The De-Oiled Lecithin Market is estimated to reach $258.13 million by 2024, growing at a CAGR of 8.33% during the forecast period 2019-2024. The growth of the de oiled lecithin market is attributed to the increasing demand for green and organic food products globally and growth in trends among consumers involving weight loss and calorie concern in developed countries. Further, the application of de oiled lecithin in various products such as bakery products, dietary foods and convenience food is also helping in the growth of the market.
- Detailed analysis on the Strength, Weakness and opportunities of the prominent players operating in the de oiled lecithin market will be provided in the report.
- Key sustainability strategies such as acquisitions or partnerships are being adopted by the market players to ensure the growth of de oiled lecithin market. Further, detailed analysis is provided in report.
- It is evaluated that Asia Pacific is showing highest potential to become an evolving market for de-oiled lecithin because of the availability of the raw materials that are used in the manufacturing of de-oiled lecithin and will record the fastest CAGR over the forecast period. Additional drivers, trends, and opportunities related to APAC region is provided in the report.
Source – Segment Analysis
On the basis of source, the soy segment is dominating the market and is estimated to grow at a CAGR of 6.5% during the forecast period from 2019-2024. The demand for soy lecithin is mainly due to its increasing usage in animal feed applications, as it is low cost when compared to other de-oiled lecithin. Soy lecithin is mostly used due to its benefits related to faster recovery from illness and raising survival rate. Moreover, it prevents fattening of liver in poultry feed. However, the sunflower segment is estimated to register the highest CAGR during the forecast period owing to better safety offered and hypoallergenic nature in comparison to other de-oiled lecithin.
Application – Segment Analysis
On the basis of application, the food segment is dominating the market. The market for food segment estimated to grow at a CAGR of 7.2% during the forecast period from 2019-2024. De-oiled lecithin is a key component in the production of chocolate. The demand for food products such as sugar confectionery, chocolates, and convenient foods is estimated to increase, subsequently driving the growing demand for de-oiled lecithin. The increase in cocoa butter rates has encouraged producers to move to de-oiled lecithin as an appropriate and cost-effective replacement. Thus, de-oiled lecithin is expected to gain immense popularity among chocolate manufacturers in the coming years, owing to its verticality in the chocolate industry providing potential growth opportunities for its growth in future as well.
Geography – Segment Analysis
The Asia Pacific region held the largest market share of the de-oiled lecithin market. Factors such as availability of prominent sources such as soy within the region and increasing awareness towards the consumption of healthy food is said to drive the growth of the de-oiled lecithin market. High investment growth in pharmaceutical and personal care industry and development in agriculture export rate from Asia Pacific countries creates a strong opportunity for an increase in the market of de-oiled lecithin.
However, North America & Europe region are also expected to drive the demand for de –oiled lecithin owing to the increase in health-conscious consumers due to hike in obesity cases. The population in European and North American countries are facing health issues such as weight gain and obesity. This leads to a shift toward healthy food ingredients and less oily foods, thus providing a good opportunity for de-oiled lecithin manufacturers for food.
Drivers – De-Oiled Lecithin Market
· Shifting Consumer Preference:
There is a global change in the consumer preference regarding the consumption of food. Consumers now a days prefer to have foods that are organic and are healthy. People in developed countries are inclined to have foods that helps in weight loss and
maintains their metabolic health. This has resulted in the overall growth of consumption of products that contain de-oiled lecithin.
· Rise in Disposable income and Increase in health awareness :
With increasing global population and rising income levels across developing countries, the demand for convenience & healthy foods is growing at a faster pace. This has resulted in the increased demand for clean label products. Manufacturers are replacing the artificial and synthetic emulsifier with natural and eco-friendly emulsifiers such as de-oiled lecithin, which is helping in the growth of the market. Also, rising health awareness in developing nations will also result in market growth.
Challenges – Food Processing Ingredients Market
· Increasing Government Regulation on Food Manufacturers
The major restrictions to the growth of the de-oiled lecithin market are increased government regulations on the usage of de-oiled lecithin in processed foods. However, genetically modified food (GMO) may act as a threat to the environment that is expected to hamper the de-oiled lecithin market growth. Fluctuations in the prices of raw material can also be considered as a restrain to the growth of the market.
Product Launches, acquisitions and partnerships are some of the major strategies adopted by key players in the Food Processing Ingredients Market. The Food Processing Ingredients top 10 companies in the market are DowDuPont, Cargill, Archer Daniels Midland, Bunge Limited, Stern Wywiol Gruppe,Lecico GmBH , American Lecithin Company ,Lecital ,Lasenor Emul, GIIAVA (INDIA) PVT. LTD, Novastell Essential Ingredients among others.
De Oiled Lecithin Market Research Scope:
The base year of the study is 2018, with forecast done up to 2024. The study presents a thorough analysis of the competitive landscape, market size, and market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the de oiled lecithin market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the type of sources through which lecithin is extracted that are in most in demand and its application which is propelling the growth of market.