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Key Insights

GrowIng Bakery Industry

Lecithin is an emulsifier which is widely used across bakery sector. The product is used in commercial baking operations as it provides improved workability of doughs and batters. Thus, the growth of bakery industry is projected to directly influence the market demand for lecithin over the coming years.

Bread is considered as a primary staple food in the U.S., Canada,  and European region. Bread is among the highest consumed bakery product in European region and roughly accounts for 79% of overall market. Majority of bakery related businesses in the European region are concentrated France and Italy. There are nearly 154,000 bakeries across the European region with an average revenue of nearly 0.62 million as of 2018. The growing number of bakeries in the region is the primary driver for the growth of lecithin industry over the forecast period.

Rising Popularity of Packaged Food is Positively Influencing Market Growth

Emulsifier are widely used in the processing of packaged food and processed meat products such as sausages, salami, and ready to eat meals. Lecithin being an emulsifier is thus widely used across packaged food manufacturing. The global packaged food volume in 2015 was accounted around 612 million tons which reached to roughly 650 million tons in 2018. Thus,  growth in the consumption of packaged food is expected to positively influence the market growth of lecithin over the predicted timeline.

Majority of the global population is projected to live in the urban centers of the globe over the coming years. The one already living in urban areas due to long working hours often rely on packaged food. As the consumer lifestyle evolves with high working hours, demand for packaged food is also likely to grow significantly. The packaged food companies are offering organic and premium label foods to promote well-being and enhance their market presence. Such trends are likely to drive the demand for lecithin products over the forecast period.

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Source Outlook

On the basis of source, market is bifurcated into soybean, sunflower, rapeseed, and others. Among this segment, soybean and sunflower is projected to dominate the global market share over the forecast period. Soybean production is dominated by the U.S. and Brazil. Other key countries producing soybean are Argentina, India, China, Paraguay,Canada and Bolivia. The use of soy based lecithin product is largely catered by pharmaceutical and personal care industry. The rising prominence of emulsion based drugs is anticipated to positively influence the segment growth over the near future. However, rising concerns pertaining to the use of GMO soybean is Likely to restrain the segments growth.

Sunflower based lecithin is projected to observe swift growth as it is considered as an ideal substitute for soy based products. In addition, sunflower based lecithin is rich in choline and essential fatty acids. The consumption of sunflower lecithin has numerous health benefits as compared to its counterparts. Major sunflower producing nations are Ukraine and Russia. These two countries are responsible for producing nearly half of the global sunflower production. Other key countries involved in the production of sunflower are Argentina, Romania, China,  India, and others.

Application Outlook

On the basis of application, market is segmented into bakery, convenience food, confectionery, animal feed, pharmaceutical & personal care, industrial, and others. Within this category, animal feed segment is projected to dominate the market share over the forecast period. The product is widely employed in the manufacturing of animal feed as it assists in improving overall health of an animal. The continuous growth in consumption of meat related products is likely o positively influence the market growth over the coming years.

Bakery and confectionery application segments are expected to observe swift growth over the forecast period. The bakery industry is observing tremendous appeal in terms of demand. Similarly, confectionery segment widely gaining prominence in developing countries. Lecithin is widely used in the production of confectionery items such as brittle, toffee, fudge, caramel, and chocolate. The natural ability of the product to act as an emulsifier, flavor protector, and antioxidant is driving its demand across global confectionery industry.

 

Competitive Landscape

The key vendors of the industry are GIIAVA, Thew Arnott & Co. Ltd., NOW Foods, Sternchemie GmbH & Co. KG,  Bunge Ltd., American Lecithin Company, Lipoid GmbH, Cargill Corporation, Archer Daniels Midland, and DuPont.

The industry participants are intensively focused on creating long term supply contracts with end-use companies to enhance their market share. Vendors of the market are turning their interest towards development of non-GMO soy to cater industrial demand.

Definition

Lecithin is an emulsifier which are usually phospolloids made from phosphoric acid, choline, glycerol, and other type of fatty acids.

Global Lecithin Market Segmentation

By Source

- Soybean

- Sunflower

 -Raoeseed

- Others

By Application

-Convenience Food

- Bakery

-Confectionery

 -Pharmaceutical & Personal Care

 -Animal Feed

 - Industrial

 -Others

 

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