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According to the latest research by SkyQuest Technology, the Global Soy Lecithin Market was valued at USD 542.36 billion in 2021, and it is expected to reach a market size of USD 905.67 billion by 2028, at a CAGR of 7.6 % over the forecast period 2022–2028. The research provides up-to-date Soy Lecithin Market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Lecithin is a nutritional component that may be obtained from soy and other sources. It is frequently employed as an emulsifier or lubricant in food, but it may also be an antioxidant and a flavor enhancer. Like many food additives, soy lecithin is not without controversy. Many individuals believe that it can be detrimental to their health. But very few, if any, of these claims are backed up by concrete evidence. Lecithin producers compete on the basis of competitive pricing since there are customers who are price-sensitive. Manufacturers emphasize the source of their low-cost raw materials and process innovation heavily to differentiate themselves from their competitors.
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Additionally, as lecithin production grows and end-use industries like food, beverage, feed, and pharmaceuticals grow swiftly, this tends to outpace the supply-demand imbalance, resulting in the modest price increases projected throughout the projection period. For instance, Deoiled Soya Lecithin Powder prices were soaring in the Asian market in the fourth quarter of 2021. As a result of a decline in US soybean shipments following a market interruption caused on by storms, prices were soaring on the Chinese market. The price of soy-based deoiled lecithin powder increased significantly in China during Q4 FY22. Due to rising freight costs and increased demand from ongoing winter holidays, the price of deoiled soy lecithin powder increased by 4.38 percent in India. On a CFR basis, it was predicted that deoiled soy lecithin powder will cost USD 4092.24 per MT.
Given the increasing per capita food expenditure and shifting dietary habits, the processed and packaged food industry is developing favourably, which is anticipated to be excellent for the market. Due to growing worries about leading a healthy lifestyle, there is an increased need for nutrient-rich meals, beverages, and supplements. It is anticipated that this need will eventually lead companies to use products like soybean lecithin, which is both inexpensive and nutrient-rich.
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Read Market Research Report, “Global Soy Lecithin Market By Source (Soy, Sunflower, Rapeseed, Others), End Use (Convenience Food, Bakery, Confectionery, Pharmaceutical, Personal Care and Cosmetics, Animal Feed, Other Industries, Others), Form (Liquid, Powder, and Granules), and Region — Forecast and Analysis 2022–2028” By Skyquest
The soy industry dominated the global soy lecithin market in 2021 with a revenue share of over 75%. This can be due to the growing food industry in regions of Europe and Asia-Pacific, where soybean farming and production occupy significant geographical areas. In 2019–20, 333.67 million tonnes of soybeans will be produced worldwide on a total area of 120.50 million hectares. Brazil produces the most soybeans in the world, with 114.27 million tonnes produced. The United States comes in second with 96.79 million tonnes, followed by Argentina with 55.26 million tonnes, China with 15.73 million tonnes, and India with 13.27 million tonnes, which together make up 34.25, 29.01, 16.56, 4.00, and 3.98 percent of the world’s total production.
India ranks fourth in the region with 11.34 million hectares (28.02 million acres), or 9.41 percent of the world’s acreage, and sixth in output with 11.22 million tonnes in 2019–20. It is mostly used in the making of bread, margarine, various ready-to-eat meals, nutritional supplements, ice cream, dairy products, and newborn formula. Although it is predicted that demand will decrease over the course of the projected period due to growing concerns about rising cholesterol levels and the allergic properties of soybean.
The animal feed industry has dominated the global soy lecithin market, accounting for a revenue share of more than 45 percent in 2021. This is a result of the majority of people consuming more meat on a regular basis globally. The industry’s overall growth has also benefited from the highly developed animal husbandry sector. The production of meat increased fourfold between 1988 and 2018, and it has increased by half since the middle of the 1960s. Future output is also predicted to increase. By 2050, it is projected that beef would be consumed worldwide in the range of 460 million to an astonishing 570 million tonnes. 570 million tonnes of beef would be consumed, which is twice as much as in 2008. The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Archer Daniels Midland Company, Cargill, Incorporated, American Lecithin Company, Bunge Limited, Denofa, Lasenor, Lipoid GmbH, DuPont de Nemours, Inc., Ruchi Soya Industries, Ceresking Ecology & Technology Co. Ltd. among others. The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Soy Lecithin Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Report Findings ● Drivers- The substance is beneficial in the paint and cosmetics sectors because of its comprehensive chemical and physical properties. In 2021, Americans spent 10.3% on average of their disposable personal income on food, with 5.2 percent of the amount going toward food eaten at home (5.1 percent). In 2019, food and drink purchases in supermarkets and other retailers, as well as takeaway meals and snacks, totaled $1.77 trillion in spending by Americans, including individuals, businesses, and governmental organizations. ● Restraint- The product’s demand will continue to rise throughout the next decades. However, future market growth is anticipated to be constrained by the increasing use of genetically modified (GM) soybean in the production of soybean lecithin. Despite the fact that lecithin is a highly processed product and it is difficult to identify the origin of the raw ingredients, such as GMO or non-GMO soybean.
What does this Report Deliver? • Market Estimation for 20+ Countries • Soy Lecithin Market demand by Region, Sub-Region, and Country • Customization on Segments, Regions, and Company Profiles • 100+ tables, 150+ Figures • Global, Regional and Country specific Soy Lecithin Market Trends • Comprehensive Mapping of Soy Lecithin Industry Parameters • Attractive Investment Proposition in the Global Soy Lecithin Industry • Competitive Strategies Adopted by Soy Lecithin Market Key Players • Drivers, Restraints, Opportunities, Challenges and the impact on the Soy Lecithin Market Size • Market growth rate till 2028 • Regulatory scenario, regional dynamics, and Soy Lecithin Market insights of leading countries in each region • In-depth Market insights by Region and Country • Market Segmentation Trend Analysis, Opportunities and Growth • Porter’s five force analysis to know the market’s condition • Pricing Analysis and Soy Lecithin Market Sales • Parent market analysis • Product portfolio benchmarking SkyQuest has segmented the Global Soy Lecithin Market based on Source, End-Use, Form, and Region: ● Global Soy Lecithin Market by Source (Revenue, USD Billion, 2021 – 2028) o Soy o Sunflower o Rapeseed o Others ● Global Soy Lecithin Market by End-Use (Revenue, USD Billion, 2021 – 2028) o Convenience Food o Bakery o Confectionary o Pharmaceutical o Personal Care and Cosmetics o Animal Feed o Other Industrial o Others ● Global Soy Lecithin Market by Form (Revenue, USD Billion, 2021 – 2028) o Solid o Liquid o Granules ● Global Soy Lecithin Market by Region (Revenue, USD Billion, 2021 – 2028) o North America US Canada o Europe Germany France UK Italy Spain Rest of Europe o Asia Pacific China India Japan Rest of Asia Pacific o Central & South America Brazil Rest of CSA o Middle East & Africa GCC Countries South Africa Rest of MEA
Key Players in the Global Soy Lecithin Market • Archer Daniels Midland Company (Illinois, U.S.) • Cargill, Incorporated (Minnesota, U.S.) • American Lecithin Company (Connecticut, U.S.) • Bunge Limited (Missouri, U.S.) • Denofa (Fredrikstad, Norway) • Lasenor (Barcelona, Spain) • Lipoid GmbH (Ludwigshafen, Germany) • DuPont de Nemours, Inc. (Delaware, U.S.) • Ruchi Soya Industries (Mumbai, India) • Ceresking Ecology & Technology Co. Ltd. (Tianjin, China)
About Us- SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
Contact Us- SkyQuest Technology Consulting Pvt. Ltd. 1 Apache Way, Westford, Massachusetts 01886 USA (+1) 617-230-0741 Email- [email protected]
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