The North America Lecithin Market would witness market growth of 6.2% CAGR during the forecast period (2022-2028).
The abundant supply of raw materials, together with rising demand in end-use sectors, is estimated to boost the lecithin production business. This product's emulsifying properties are boosting its demand in industrial as well as food applications. The fact that it is multipurpose and flexible is projected to drive up demand in most of the end-use industries.
One of the primary factors driving the growth of the lecithin market is the rise in the demand for naturally derived components around the world. The significant demand for the ingredients is fueled by the accessibility with which they can be found in nature, as well as numerous applications that phospholipid and lecithin comprise in several industries as well as an increase in the consumer awareness for clean label products. The market is being influenced by an rise in the adoption of sunflower-based lecithin due to advantages such as ease of handling and neutral flavor, as well as the utilization of the product across dietary foods and supplements like capsules and tablets, bakery products, and convenience foods like instant soups and sauces.
Rising demand for cosmetics and rising disposable income of regional people are estimated to fuel the growth of the regional market, which would also be complemented by higher demand for haircare and skincare goods. Because these cosmetics are emollient, they soothe and soften various skin types, and are utilized for skincare. It is used in restorative creams for its exceptional moisturizing properties, which keep the skin hydrated and nourished. The major attributes complementing the growth of the regional market are that it improves damaged hair along with helping in straightening processes. Moreover, the United States is one of the biggest producers as well as consumers of processed foods in the world, which is increasing the demand for lecithin in the region.
The US market dominated the North America Lecithin Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $510.8 Million by 2028. The Canada market is estimated to grow at a CAGR of 8.6% during (2022 - 2028). Additionally, The Mexico market would showcase 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Lecithin Market is Estimated to reach $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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