The Asia Pacific Lecithin Market would witness market growth of 7.0% CAGR during the forecast period (2022-2028).
Individuals have been incorporating nutritional and healthy food products into their diets in recent years, resulting in an increase in the popularity of healthy lifestyles. In addition, the Lecithin Market is growing due to increased demand for nutritional meals, beverages, and supplements. A range of personal care and skin care products are being launched by leading cosmetics brands. The market is driven by manufacturers' constant expansion of R&D spending in order to achieve long-term production and growth levels.
Because of shifting customer attitudes toward their eating habits, the packaged food business has seen substantial expansion. Extended working hours, a growing number of women in the workforce, and easy access to numerous packaged food products in a variety of cuisines are all contributing to the shift in consumer preferences. Lecithin is an emulsifier used in the production of processed meats such as sausages, liver sausages, salami, and ready-to-eat meals. Lecithin consumption has decreased in these regions due to a decrease in the demand for whole-grain bread as a result of rising concerns about diseases linked to high cholesterol levels. To provide healthy eating options to consumers, manufacturers are turning to enzymes such as mono or DATEM and diglycerides.
The rising food sector in developing nations across the region, as well as the world's two most populous Asian countries, China and India, which includes a wide range of bread items, meat, dairy, and convenience meals, is expected to increase demand for lecithin. Moreover, rising consumer adoption of culinary trends such as veganism and organic plant-based diets would also propel the demand for lecithin across the regional market. In addition, in the last several years, there has been an increase in demand for bakery and confectioneries items, which is likely to boost lecithin consumption. The availability of a vast number of farmlands used to raise oilseeds including rapeseed, soybean, and sunflower additionally aids in boosting the market growth.
The China market dominated the Asia Pacific Lecithin Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $265.3 Million by 2028. The Japan market is anticipated to grow at a CAGR of 6.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 7.7% during (2022 - 2028).
Based on Application, the market is segmented into Feeds, Food & beverages, Industrial, and Healthcare. Based on Nature, the market is segmented into GMO and Non-GMO. Based on Type, the market is segmented into Fluid, De-oiled, and Modified. Based on Source, the market is segmented into Soy, Sunflower, Rapeseed & canola, Egg, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Lecithin Market is Projected to reach USD 2.5 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer Daniels Midland Company, Bunge Limited, DuPont de Nemours, Inc., Wilmar International Limited, Kewpie Corporation, IMCD N.V., Avril Group, Lipoid GmbH, Stern-Wywiol Gruppe GmbH & Co. KG, and Cargill Corporation.
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