Soy Lecithin Is Mostly Used In Cosmetics Such As Creams, Lotions And Other Beauty And Skin Products Which Is Expected To Boost Soy Lecithin Market Growth

 

Soy Lecithin

Soy Lecithin Market is segmented by Source (Egg, Sunflower, and Other Sources); By Application (Food and Beverage, Feed, Nutrition and Supplements, Pharmaceuticals, and Other Applications); And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030

The global Soy Lecithin Market is estimated to be valued at US$ 574.5 million in 2022, and is expected to exhibit a CAGR of 79 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Soy lecithin is an element that is not vastly popular however is seen in a lot of foods, harvests and additives that individual might already be eating. Soy lecithin is extracted from raw soybeans, while the soybean oil is derived utilizing a chemical solvent. The soy oil further goes from a procedure while it is mixed evenly with water till the lecithin element becomes hydrated, splitting from the oil, and it is further dried. 

Competitive Landscape:

Key players involved in the growth of global Soy Lecithin Market are DuPont de Nemours, Inc, Wilmar International, Cargill Inc., Archer Daniels Midland Company and Lipoid GmbH.

Market Key Drivers:

Soy lecithin is mostly used in cosmetics such as creams, lotions and other beauty and skin products is expected to augment the growth of global  Soy Lecithin Market. For instance, as per ITA, the beauty and personal care sector in Thailand is expected to increase at a rate of 5.5% by 2025.

Rising demand of soy lecithin in medical and healthcare industry is projected to propel the growth of global Soy Lecithin Market. For instance, as per the Indian Economic Survey, the domestic pharmaceutical sector in India is projected to cross US$ 65 billion by 2024.

Covid-19 Impact Analysis:

The Covid-19 outbreak has adversely affected the growth of the global Soy Lecithin Market due to the strict lockdown policies imposed by the government. The delay in supply of raw materials led to sluggish progress of making the products. The disruption in supply chain and the closure of manufacturing and production units along with the halt in transportation has impeded the market growth.

Key Takeaways:

The global Soy Lecithin Market is anticipated to exhibit a CAGR of 79 % during the forecast period owing to the rising mergers and acquisitions for the product expansion. For instance, In September 2021, AAK entered an acquisition with BIC Ingredients. The latter company pacts with rapeseed, sunflower, soy, and other natural lecithins. 

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global Soy Lecithin Market due to increasing mergers and acquisitions, increasing partnerships and collaborations and rising use of soy lecithin in medical industry, food& beverages industry and pharmaceutical industry. For instance, as per IFPMA, the pharmaceutical sector growth is projected to be 5.4% in North America in 2022.

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