The global lecithin market was valued at USD 1.15 billion in 2018 and is projected to reach USD 1.59 billion by 2023, at a CAGR of 6.7% during forecast period. The global phospholipids market was valued at USD 3.23 billion in 2018 and is projected to reach USD 4.36 billion by 2023, at a CAGR of 6.2%.
The lecithin market is driven by the increased demand for lecithin in feed and food applications while the phospholipids market is driven by the growing trend towards consumption of natural ingredients in cosmetics and dietary supplements around the globe.
The growing demand for fluid lecithin from the feed industry in European countries is expected to create export opportunities for manufacturers in regions such as Asia Pacific and South America. Apart from this, fluid lecithin is also used in paints, varnishes, and textiles. Thus, increased demand in industrial applications is expected to boost sales of fluid lecithin during the forecast period.
The market for lecithin & phospholipids is dominated by key players such as include Cargill (US), ADM (US), Stern Wywiol Gruppe (Germany), DowDuPont (US), and Bunge (US). Other players include Lipoid GmbH (Germany), Wilmar International (Singapore), Sonic Biochem Extractions (India), Avanti Lipids Polar (US), Lecico (Germany), VAV Life Sciences (India), Sodrugestvo (Luxembourg), Kewpie Corporation (Japan), Sojaprotein (Serbia), American Lecithin Company (US), Sime Darby Unimills, Lecital (Austria), and Lasenor Emul (Spain).