Sunflower Lecithin Gaining Ground in Lecithin Market
Sunflower lecithin market has been growing at a significant rate during the recent years. The market has also seen multiple new reforms during the recent years. The demand for sunflower lecithin has been gaining ground in the lecithin market.
Sunflower lecithin has also been replaced in multiple end use industries in place of soy lecithin. Non-GMO nature of sunflower lecithin can be attributed to this shift in the market. Sunflower lecithin is expected to experience impressive growth during the coming years and conquer share of share of multiple lecithin sources during the forecast period.
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Sunflower Lecithin Market: Dynamics
The growing inclination towards sunflower lecithin revolves around the low GMO prevalence in the market. This has been a supplemental factor to increase the usage of sunflower lecithin in the bakery and confectionery industry.
Bakery and confectionery account for large share in the demand from the food and beverages industry, and is expected to significantly increase during the coming years.
The growing demand from the bakery industry due to specific applications of sunflower lecithin and better performance in comparison with other alternatives is expected to increase the demand for sunflower lecithin.
Sunflower Lecithin Market: Segmentation
The sunflower lecithin market can be segmented on the basis of nature and end use industry
On the basis of nature, the sunflower lecithin market can be segmented into:
- Conventional
- Organic
On the basis of end use industry, the Sunflower Lecithin market can be segmented into:
- Food and Beverages
- Cosmetics
- Neutraceuticals
- Others
Sunflower Lecithin Market: Regional Overview
Presently, North America holds the largest share within the global sunflower lecithin market. Health obsessions of consumers and turning to usage of are the main factors which has allowed the sunflower lecithin market to prosper in North America.
Due to the increasing importance of neutraceuticals, the potential reach of sunflower lecithin in North America will be in growth stage. Apart from North America, Europe ranks second in the consumption of Sunflower Lecithin.
With multiple new regulations in the region, increasing preference of sunflower lecithin and subsequent aversion of soy based products in consumers, is expected to supplement usage of sunflower lecithin in Europe.
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Sunflower Lecithin Market: Key Players
The global sunflower lecithin market is fragmented in nature, with a large number of regional and international market. Prominent players in the market are Cargill inc., Lipoid, Imcopa Food Ingredients, GIIAVA, Lekithos, and Bunge Lecithins among others.
The sunflower lecithin market is characterized by the presence of a large number of regional and domestic players which offer similar products. These companies have been trying to gain their position in the local market through collaboration with the food processing and bakery industry.
The local and domestic players have also opted to connect with regional distributors and suppliers to increase their foothold in the market.
While multiple top players in the market have obtained organic labels for their product offering, small and medium level players are lacking in the labels.
Obtaining organic labeling is expected to be a key factor in determining the preference of the end use companies in the food ingredients and additives market.
The companies leveraging quality of the products and organic & clean labels are expected to gain significant increase in demand in their domestic as well as international markets.
Sunflower Lecithin Market: Effects from the Covid-19 Outbreak
The overall demand for food additives in general have increased over the past month. Stocking and lockdowns in multiple regions has resulted in consumers to consume more food products and increase stockpiling during the global pandemic.
However, the same could not be said for sunflower lecithin since it’s an additive used in multiple end use industries. Several sunflower lecithin manufacturers are designing measures and proactive strategies to help reduce their risk and are prepare to cope with the coronavirus consequence.
Determining the impact of Covid-19 on the demand for sunflower lecithin will be premature. Nevertheless, the global pandemic has thrown out many roadblocks for a stable growth of the global sunflower lecithin market.
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The research report presents a comprehensive assessment of the sunflower lecithin market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data.
It also includes projections using a suitable set of assumptions and methodologies. The research report of the sunflower lecithin market provides analysis and information according to the different market segments such as nature, end-use industry and region.
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