According to a new market research report published by Acute Market Reports “Soy Lecithin Market (Form – Granules, Powder and Liquid; Function – Nutritional Supplements, Emulsifiers, Dispersants, Viscosity Modifiers and Others; Modification – GM and Non-GM; End-use Industry – Food & Beverages, Paint Industry, Pharmaceutical and Others) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the soy lecithin market expected to reach US$ 1.23 Bn in 2026 and will be growing at a CAGR of 5.8% during the forecast period from 2018 to 2026.
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The soy lecithin market expected to reach US$ 1.23 Bn in 2026 and expected to be growing at a compounded annual growth rate (CAGR) of 5.8% during the forecast period from 2018 to 2026. Lecithin refers to a food additive that comes from various sources; one of them being soy. When added to food, it works as an emulsifier or lubricant. Soy lecithin are also used as flavor protector and as an antioxidant. It is usually included in small amounts and are found in ice cream & dairy products, dietary supplements, breads, infant formulas and other convenience foods. Soy lecithin is considered as a safe food additive considering the fact that it is present in very small quantity in food. This makes it one of the most widely used food additive in the market.
Growing concern for a healthy lifestyle is one of the most prominent factors aiding the soy lecithin market growth. In recent years, there has a significant growth in the demand for nutrient rich foods, beverages and supplements, a factor leading companies to increasingly adopt nutrient rich and cost effective products such as soy lecithin. Various research studies have suggested that, soy lecithin when included into diets can help reduce excess LDL cholesterol. Moreover, it does not reduce the HDL and at the same time promotes its synthesis in the liver. In addition, chlorine in the form of phosphatidylcholine is present in soy lecithin. Lack of chlorine is often responsible for fatty liver, organ dysfunction and muscle damage. Moreover, the fact that, despite being sourced from soy, soy lecithin is free from allergens is another important factor driving the soy lecithin market growth.
However, health concerns arising from the use of hexane in the extraction process of soy lecithin is one of the primary challenges impacting the market growth negatively. The exaction of soy lecithin involves the use of hexane, a solvent often used for varnishes and glues as well. Though a multi-step process is adopted to remove the solvent, however, there are chances that residue is leftover. Hexane has a number of dangerous side effects such as nausea, headache and dizziness.
Asia Pacific stood as the largest regional market for soy lecithin in 2017. China and India are two important markets for soy lecithin in the Asia Pacific region. The region is also the largest producer of soy lecithin. The demand is mainly driven by the expanding end-use industrial base of soy lecithin especially into food & beverages industries.
Key players profiled in the report include Lipoid GmbH, Archer Daniels Midland Company, American Lecithin Company, Cargill, Bunge Limited, LASENOR EMUL, Ceresking Ecology & Technology Co. Ltd., Ruchi Soya Industries Ltd and Lecico Gmbh among others.