Lecithin market has been observing substantial growth in the last decade or so, pertaining to the increasing awareness among the masses about the health benefits of lecithin. Incidentally, lecithin is one of the most important constituents of human brain cells and nerves. In addition, it is also beneficial for the people who are suffering from the health problems related to cardiovascular diseases, mental acuity, and reproduction & fertility. Taking into account the noteworthy health benefits of lecithin, many cosmetic and pharmaceutical industry giants along with the biggies in food & beverage sector are currently giving preference for the inclusion of lecithin rich sources for developing many formulations.
U.S. Soy Lecithin Market Size, By Application, 2017 & 2024, (Kilo Tons)
With reference to the aforementioned fact, it is prudent to mention that cosmetic and pharmaceutical companies are lately using egg and soybean oil as the prominent sources of lecithin. Healthcare regulatory bodies like the Food and Drug Administration (FDA) have also affirmed egg lecithin to be a safe ingredient. The prominent use of lecithin in various dietary supplements is thus poised to propel lecithin industry share.
As of now, many startups in the food and beverage sector are coming into the limelight on account of their high quality lecithin-based production. The increasing number of internationally recognized food companies producing lecithin in tandem with the contribution of the minorities will thus have a favorable impact on the growth of lecithin market. Recently, the U.S. based specialty lecithin producer, Clarkson Specialty Lecithins has received the Food Safety Certification via SQFI (Safe Quality Food Institute). This internationally recognized certification will help the North American lecithin producer to further improve the existing quality of its products as well as the firm’s manufacturing capabilities. The benchmark set by the various startups producing lecithin will also help prominent investors make an informed decision about pouring in capital in lecithin industry.
Currently, the shifting focus of people toward the consumption of non-allergen and non-GMO food products have encouraged giants in the lecithin market to come up with a new range of products. The introduction of customer-centric food products has helped them generate quite some revenue, apparently. The recent launch of a new portfolio of lecithin products by one of the renowned contributors of lecithin market, Cargill validates the fact that this business thrives extensively on changing customer demands. Reportedly, the introduction of de-oiled lecithin had been totally dependent on the growing requirement of label-friendly ingredients from the consumers.
With the production of de-oiled rapeseed lecithin, Cargill has become the first supplier of this product across Europe lecithin market, mainly for snacks and bakery manufacturers. Reportedly, with the increasing demand for products in the bakery industry across the continent, Europe lecithin market will generate a revenue of more than USD 580 million by the end of 2024.
It is imperative to mention that the new product development is not the only business tactic adopted by the various lecithin industry players, since many of them have been involved in mergers and acquisitions as well, to strengthen their competitive stance. For instance, in 2017, leading oil producer, Avril acquired the French ingredient supplier, Novastell, in a deal that not only helped Avril to enhance its product portfolio but also to strengthen its business activities across France and other geographies. In addition, the Avril Group has provided opportunities to Novastell’s researchers to continue the innovations in nutrition within its subsidiaries. This is yet another factor that would help biggies to achieve a leading position in the lecithin market over the years ahead – consistent research-based technology inventions.
Recently, some researchers at the University of Texas Health Science Center have found that soy lecithin-based drugs can be used to prevent and treat colorectal cancer. In U.S., colorectal cancer counted among the leading causes of cancer-related mortality. Such initiatives taken by the research institutes to formulate new medications having lecithin as a prominent constituent is slated to fuel lecithin industry share.
A wide range of applications across the healthcare and industrial spheres will stimulate the demand for lecithin over the years ahead. The involvement of companies to innovate newer products for consolidating their stance in the industry is also certain to impel lecithin market trends. Reportedly, the global lecithin market has been anticipated to surpass a revenue collection of USD 2.4 billion by the end of 2024.