Increasing Consumer Awareness About Clean Label Products Driving the De-oiled Lecithin Market

De-oiled Lecithin Market by Source (Soy, Sunflower, Rapeseed, and Egg), Application (Food (Bakery Products, Confectionery Products, Convenience Foods, and Dairy & Frozen Desserts), Feed, and Healthcare), and Region - Global Forecast to 2023

Posted on 2020-12-17 by MarketsandMarkets in Food & Beverage, Healthcare // 0 Comments

The global de-oiled lecithin market is projected to grow from an estimated value of USD 156.5 million in 2018 to reach USD 232.1 million by 2023, at a CAGR of 8.2%. This market is driven by the growth in demand for natural food additives and increase in consumer awareness about clean label products. Along with this, factors such as a rise in awareness about animal health & well-being and animal feed quality are driving the market for de-oiled lecithin, globally.

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Based on the source, the global market has been segmented into soy, sunflower, rapeseed, and egg. The soy segment is estimated to account for the largest share in the market for 2018. It is widely preferred among manufacturers, owing to the sufficient availability of soybean and a cost-effective extraction process. De-oiled soy lecithin is growing in popularity in the feed application and is also being used as a replacement to cocoa butter in the chocolate industry, owing to rise in prices of cocoa butter. Further, increased demand for natural sources in the cosmetic and pharmaceutical industries has boosted the demand for soy-based de-oiled lecithin at a global level.

Based on application, the global market has been segmented into feed, food, and healthcare. The food segment is estimated to be the largest segment in 2018, in terms of value; however, the application in the healthcare industry is expected to grow at the highest CAGR through the forecast period, owing to factors such as adoption of natural ingredients by manufacturers in the pharmaceutical and healthcare industries are due to strict regulations and rising demand for herbal and natural nutritional products, which would drive the growth of healthcare applications incorporating de-oiled lecithin.

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The key players in the de-oiled lecithin market include DowDuPont (US), Cargill (US), Archer Daniels Midland (US), Bunge Limited (US), and Stern Wywiol Gruppe (Germany). Other players include Lecico GmBH (Germany), American Lecithin Company (US), Lecital (Austria), Lasenor Emul (Spain), GIIAVA (INDIA) PVT. LTD (India), Novastell Essential Ingredients (France), Rasoya Proteins Ltd. (India), Clarkson Grain Company, Inc. (US), Amitex Agro Product Pvt. Ltd. (India), and Austrade Inc. (US).

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