Market Research Report
Global Soy Lecithin Market - 2019-2026
|Published by||DataM Intelligence||Product code||910429|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Soy Lecithin Market - 2019-2026|
|Published: September 1, 2019||Content info: 130-180 Pages||
Lecithin sourced from soy has long been into use as a food additive. Wide array of food products including condiments, chocolates, and dressings use soy lecithin as emulsifier, lubricant, stabilizer, wetting and dispersing agent. Soy lecithin is also rich in choline, a vitamin-like essential nutrient that reduce the levels of bad cholesterol, thus making it dietary supplement of choice for heart health savvy population. Soy lecithin also find applications in cosmetics and pharmaceuticals industries owing to its antioxidant properties. The global soy lecithin market valued USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period.
The rising demand for lecithin from various industries including food, feed, pharmaceuticals, and cosmetics owing to its emulsification properties is the major factor driving the growth of global soy lecithin market. Emulsifiers are finding new applications in various food categories such as protein powders, desserts, bakery products, and functional beverages. Furthermore, the need for emulsifying agents is also increasing in the production of animal feed and pet food. The wide availability and protein-rich nature of soy made soy lecithin as an effective emulsifier in these applications. The inexpensive process of soy lecithin production is motivating the use of soy as a preferred source for lecithin over egg, rape seeds and other counterparts. Soy lecithin is extracted as a byproduct of soybean oil production. The growing production of soy production is also supporting the growth of soy lecithin market. According to the statistics of The Soybean Processors Association of India (SOPA), the global production of soybean increased from 320 million metric tons in 2014 to 360 million metric tons in 2018. The rising interest towards plant-based protein sources coupled with growing vegan and vegetarianism concerns is likely to provide immense growth potential to soy lecithin market. However, genetically modified (GM) concerns of soybeans and the restrictions associated with use of soy lecithin in food products owing to the allergic nature of soy are hindering the growth of soy lecithin market. The availability of rapeseed lecithin as an effective non-GMO alternative to soy lecithin in food and feed applications is also limiting the market growth
The global soy lecithin market has been segmented by function into emulsifier, stabilizer, antioxidant, lubricant, wetting agent, nutritional supplement, and others. Emulsifier evolved as the largest segment owing to the demand for soy lecithin as emulsifier in food, feed, plastics, pharmaceutical, and other industries. With a share of over 50% in terms of sales value, food and beverages dominated the global soy lecithin market in 2018. Animal feed, cosmetics, pharmaceuticals, and some other industries also constitute considerable share on the market.
The global soy lecithin market is fragmented with the foothold of large number of companies. The market is highly competitive with the likes of new product launches in the fields of organic and non-GMO soy lecithins. All the key market players including The Archer Daniels Midland Company (Yelkin and Ultralec series) and Cargill, Incorporated (Topcithin NGM, Metarin NGM, Emulpur) are focusing on widening their portfolio of non-GMO soy lecithins to cater the growing demand from organic food processors across the globe
Other key players in the market are American Lecithin Company, Sonic Biochem Extractions Ltd., DuPont Nutrition & Biosciences, Lipoid GmbH, and Agro Solvent Products Pvt. Ltd.