Published Date: 2019-07-10 | Views: 53 | Food & Beverages
In a new report released by QYR Consulting, the global soy lecithin market is predicted to grow at a sluggish CAGR of 2.1% during the forecast period 2019-2025. Titled “Global Soy Lecithin Market Report, History and Forecast 2014-2025,” the report shows that the global market value is forecast to reach over US$1.7 Bn by 2025, improving from around US$1.5 Bn touched in 2018. Vendors are anticipated to find growth opportunities in developed as well as developing countries. The global market is expected to show high concentration with few players accounting for a robust production share. China, India, the EU, and North America could witness high distribution of players.
Growing Demand for Functional Food to Increase Sales
Increasing demand for convenience and functional foods and food supplements is expected to help with the growth of the global soy lecithin market. Growing consumer awareness and multi-functional properties of soy lecithin could be other factors pushing the demand in the global market. Use of lecithin in treating Alzheimer’s disease, dementia, and other memory disorders along with other health problems such as liver disease and gallbladder disease is prophesied to work in the favor of the global market. Rising inclination toward consuming nutrient-rich foods and healthy diets considering the rise of chronic diseases is anticipated to further augment the demand for soy lecithin.
Global Soy Lecithin Market: Segments
The report includes a deep study on product segments such as chemically-modified lecithin, refined lecithin, and natural or unrefined lecithin. By grade, the global soy lecithin market could be segmented into industrial, feed, pharma, and food grades. The report also studies different function segments, viz. surfactants, nutritional supplements, release aids, viscosity modifiers, wetting agents, dispersant, and emulsifier. Among these, emulsifier is expected to account for a considerable market share. By application, the global market could be segmented into pharmaceutical, paint, food and beverages, and others.
Global Soy Lecithin Market: Regions
North America and Europe are foretold to gain growth on the back of the demand for less expensive source of quality protein to be used in supplements and foods. These regional markets could also witness growth opportunities created with the increase in demand for protein-rich and processed foods. Asia Pacific is also anticipated to become a prominent regional market for soy lecithin because of the wide availability of raw materials. Countries such as India and China could show growth while riding on the increased application of soy lecithin in the paint and food industries.
Global Soy Lecithin Market: Top Companies
The global soy lecithin market marks the presence of top players including Shankar Soya Concepts, Caramuru, Lasenor Emul, AGD, Bunge, Ruchi Soya, Lipoid, ADM, Danisco, and Cargill. With regional companies largely focusing on business expansion and product innovation, the competition in the global market is prophesied to become intense in the coming years. In order to gain a competitive edge over other players, manufacturers are anticipated to enter into long-term agreements with end-use companies.