According to a new report, published by KBV research, The Global Lecithin Market size is expected to reach $2.5 million by 2028, rising at a market growth of 6.6% CAGR during the forecast period.
The Feeds segment is leading the Global Lecithin Market by Application 2021, thereby, achieving a market value of $1.0 billion by 2028. The rising growth of this segment is attributed to factors such as an increase in demand for soy lecithin in the animal feed market as well as a shift in customers’ preference for protein-rich meals in various developed and developing countries. Moreover, when the feed is provided to the animals in liquid form, fluid lecithin acts as a substitute product for milk, which provides appropriate nutrition to animals.
The Non-GMO segment has shown growth rate of 8.5% during (2022 - 2028). The rising growth of the segment is attributed to the surging demand for organic products all over the world. The non-genetic engineering-based lecithin products also comprise very low allergen record. In addition, the health benefits of non-GMO products are also high in contrast to GMO-based lecithin products. Therefore, the demand for non-GMO lecithin products is constantly increasing.
The Fluid segment acquired maximum revenue share in the Global Lecithin Market by Type 2021, thereby, achieving a market value of $1.8 billion by 2028. The increased demand for liquid lecithin from the animal feed sector all over the world is likely to open up growth prospects for businesses in various countries. Fluid lecithin is also found in varnishes, paints, and fabrics. As a result, sales of fluid lecithin are anticipated to increase throughout the forecast period due to the rising demand in industrial applications
The Sunflower segment is showcasing a CAGR of 7.1% during (2022 - 2028). The primary function of the product is solvent less extraction, which is estimated to grow market demand. The use of toxic chemicals in the extraction of soy lecithin, such as hexane and acetone, is anticipated to encourage the use of alternatives, such as sunflower-based products. Because of the vast number of sunflower fields in various developed countries, the demand for this crop is predicted to be high throughout the forecasting period.
Asia Pacific is the fastest growing region in the Global Lecithin Market by Region 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $945.3 Million by 2028. The Europe market is estimated to witness a CAGR of 6.3% during (2022 - 2028). Additionally, The North America market would exhibit a CAGR of 6.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/lecithin-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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