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Lecithin Market Trends

Report ID: GMI2875
Published Date: Sep 2024
Report Format: PDF

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Lecithin Market Trends

The lecithin industry is witnessing robust growth, driven by increasing consumer demand for plant-based and clean-label ingredients. According to a report by the Plant Based Foods Association, the plant-based food market grew by 27% in 2020, highlighting the increasing consumer shift towards plant-based ingredients. The shift towards healthier food products has led to a surge in the use of lecithin as a natural emulsifier and stabilizer.

Furthermore, lecithin's versatility in various applications, including food, beverages, pharmaceuticals, and cosmetics, is contributing to its growing demand. The rising trend of veganism and vegetarianism is also expected to drive the market, as soy-based lecithin serves as a viable alternative to animal-derived ingredients.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

The market size of lecithin reached USD 2.3 billion in 2023 and is set to expand at 4.3% CAGR from 2024 to 2032, led by increasing demand for natural emulsifiers in the food and beverage sector and the rising trend of clean-label products.

Demand for soy lecithin is anticipated to be worth over USD 2.5 billion by 2032, driven by its widespread use in food and beverage applications due to its effective emulsifying properties.

The food and beverages application segment is poised to register over 6.1% CAGR through 2032, propelled by the rising demand for processed and convenience foods.

Asia Pacific market is projected to amass more than USD 1.5 billion by 2032, driven by increasing demand for lecithin in the food and beverage industry, particularly in countries like China and India, where processed food consumption is on the rise.