The global lecithin market is anticipated to witness significant growth at a CAGR of 6.9% and reach a market valuation of US$ 2.9 Bn by 2031, as per detailed industry analysis by Persistence Market Research. Lecithin is loaded with various skincare benefits; it enhances the appearance and texture of the skin.
Lecithin improves the appearance of damaged and dry skin by reducing flaking and restoring suppleness. Lecithin is loaded with antioxidants and exhibits soothing properties. It acts as a natural moisturizer and moisturizes and nourishes the skin. Due to its incredible skin nourishing and hydrating properties, lecithin is used in numerous cosmetic products.
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Increasing demand for personal care products in Asia Pacific is creating opportunities for lecithin manufacturers. Ever-rising demand for personal care products and cosmetics with natural ingredients is also expected to result in significantly high sales of ingredients used in these products. Revenue from sales of personal care products and ingredients is forecasted to increase substantially in countries such as India, China, Southeast Asia, and Japan over the coming years.
All these factors are setting up the global market for lecithin to expand nearly 2X by 2031.
Key Takeaways from Market Study
- The lecithin market in countries of South Asia & East Asia is anticipated to grow at CAGRs of 9.5% and 10.2% respectively, during the forecast period.
- North America and Europe dominate the market of lecithin with market shares of 31.2% and 36.5%, respectively.
- Sales of lecithin through the powder form are valued at US$ 930 Mn.
- Growing demand from the cosmetic and pharmaceutical sectors is driving market growth. The cosmetics segment is anticipated to expand at a CAGR of 8.1%.
- China and Australia hold significant market shares for lecithin in East Asia and Oceania, respectively.
- The U.S. in North America and U.K. in Europe hold the highest shares of around 81% and 16.3%, respectively.
- The COVID-19 pandemic had a significant influence on the market for lecithin. However, growing demand for healthy and nutritious food products and dietary supplements is anticipated to drive recovery substantially.
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Lecithin manufacturers are focusing on innovation, research, and development to get high quality confectionery items. Key players are anticipated to expand their product ranges through multiple innovations.
- In 2019, Caldic B.V. announced the acquisition of Humlegårdens Ekolager, a leading Swedish distributor of brew ingredients and solutions for craft breweries.
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