DUBAI, UAE / ACCESSWIRE / May 5, 2020 / The thriving fad of weight loss through dietary variations and the proliferation of associated calorie intake concerns drive incorporation of lecithin & phospholipids in various F&B products. As suggested by a recent study of Future Market Insights (FMI), the market will be majorly buoyed by rising consumption of convenience foods, functional foods & beverages, and increasing demand for green and organic food products. The global lecithin & phospholipids market is on a positive growth trajectory, with growth projected at a heathy 5.7% CAGR during the forecast period (2020-2030).
The report also says that the consumers' preference for foods with a rich nutrition profile is bolstering demand for de-oiled lecithin. However, as the number of COVID cases explodes all over the globe, the pandemic is leading to a downtrend in the market. As a consequence, production in various end-use verticals is slowing down, thereby lowering the supply side demand for the players.
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Soy lecithin holds the lion's share in the source segment owing to the availability of soybean and the cheap extraction process. Furthermore, soy lecithin is gaining traction in the feed application as a replacement for cocoa butter in the chocolate industry.
Fluid type segment accounts for the majority of market value on the back of increasing usage in paints, varnishes, and textiles. Moreover, growing adoption in industrial applications is propelling the demand for fluid type lecithin.
Food industry drives the majority of sales on the back of high usage in confectionery, bakery, and comfort food products. The usage in comfort foods is likely to increase demand owing to the rise in sales of comfort food during the pandemic, thereby mitigating impact to an extent.
Feed segment is anticipated to exhibit significant growth owing to increasing preference for protein-rich diets in emerging economies such as China, and increasing demand for soy lecithin in the feed segment.
Europe will remain the leading regional market for lecithin & phospholipids owing to high adoption among the end-use industries in the region.
Asia Pacific is anticipated to register substantial growth and will account for a respectable total by the end of the forecast period. The growth is attributed to export opportunities of non-GMO lecithin from countries such as India to the European market.
Increasing demand for lecithin in feed and food applications, and the growing trend towards the use of natural ingredients in cosmetics and dietary supplements around the globe is fuelling the phospholipid market.
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Forms: Powdered and granulated de-oiled lecithin
Sources: Soy, sunflower, rapeseed, and egg
Applications: Food, feed, and healthcare.
Regions: North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA.
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SOURCE: Future Market Insights