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Growth Strategies Adopted by Major Players in the De-oiled Lecithin Market

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Growth Strategies Adopted by Major Players in the De-oiled Lecithin Market

October 22
17:40 2020
Growth Strategies Adopted by Major Players in the De-oiled Lecithin Market

MarketsandMarkets™
Global de-oiled lecithin market is projected to grow to reach a value of USD 232.1 million by 2023, at a CAGR of 8.2% from 2018.

The global de-oiled lecithin market is projected to grow from an estimated value of USD 156.5 million in 2018 to reach USD 232.1 million by 2023, at a CAGR of 8.2%. This market is driven by the growth in demand for natural food additives and increase in consumer awareness about clean label products. Along with this, factors such as a rise in awareness about animal health & well-being and animal feed quality are driving the market for de-oiled lecithin, globally.

De-oiled Lecithin Market

The key players in the de-oiled lecithin market include DowDuPont (US), Cargill (US), Archer Daniels Midland (US), Bunge Limited (US), and Stern Wywiol Gruppe (Germany). Other players include Lecico GmBH (Germany), American Lecithin Company (US), Lecital (Austria), Lasenor Emul (Spain), GIIAVA (INDIA) PVT. LTD (India), Novastell Essential Ingredients (France), Rasoya Proteins Ltd. (India), Clarkson Grain Company, Inc. (US), Amitex Agro Product Pvt. Ltd. (India), and Austrade Inc. (US).

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The key market players adopted various growth strategies such as new product launches, expansions, mergers, and acquisitions to cater to the increasing demand for de-oiled lecithin. These players are focusing on strategic new product launches to enhance their presence in the de-oiled lecithin market. For instance, in 2018, Cargill is focusing on expanding its product portfolio to strengthen its presence in the de-oiled lecithin market. Some key companies also adopted the merger & acquisition strategy to reach their wide consumer base in various regions. For instance, in 2017, DuPont and Dow Chemicals formed a merger agreement to form the new company, DowDuPont. Post-merger, the companies started operating into three independent divisions: agriculture, materials science, and specialty products. It helped the company to expand its presence in the ingredient (de-oiled lecithin) market. Furthermore, ADM acquired WILD Flavors GmbH and expanded its ingredients offering that includes lecithin products. The acquisition was valued at USD 2.50 billion.

Cargill, one of the global leaders in the de-oiled lecithin market, supplies and manufactures de-oiled lecithin across the globe. It offers de-oiled lecithin products that find applications in bakery, beverages (instant and powdered), confectionery, convenience foods (instant mixes, soups, and sauces), dairy, and meat & fish (ground meat products and fillings). In 2018, the company introduced a new range of de-oiled rapeseed lecithin products to complete its portfolio of GMO and non-GMO lecithin products in Europe. This new range offers great emulsification performance without compromising on taste or texture. Hence, it will allow the company to better serve the growing demand from consumers for label-friendly ingredients in bakery and snack applications.

The confectionery food application is estimated to account for the largest share of the de-oiled lecithin market in 2018.

The confectionery products segment is estimated to be the largest segment in 2018, with USD 34.6 million. De-oiled lecithin is a vital ingredient in chocolate processing. It provides viscosity control, shortens the processing time, and increases the processing stability during the manufacturing of chocolate. Initially, chocolate manufacturers were reluctant to use de-oiled lecithin, as it had to be declared with an E-number under the EU law. However, the rise in prices of cocoa butter has urged manufacturers to shift to de-oiled lecithin as a suitable and cost-effective substitute. Further, in Asia Pacific, China is expected to create lucrative opportunities for manufacturers. Increase in demand for high-quality chocolate is expected to create a robust opportunity, especially for European manufacturers to expand in the country. Thus, de-oiled lecithin is expected to gain immense popularity among chocolate manufacturers in the coming years, owing to its verticality in the chocolate industry, thus making confectionery the largest market for de-oiled lecithin application, providing potential growth opportunities for its growth in future as well.

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Asia Pacific is estimated to account for the largest share of the de-oiled lecithin market in 2018.

In 2018, Asia Pacific is estimated to account for the largest share of the de-oiled lecithin market. Factors such as availability of prominent sources such as soy within the region, increase in awareness toward the benefits of healthy food and feed, growth in demand for non-allergic and organic food, rise in meat consumption, growth of the aquaculture industry, and high investment growth in the pharma and personal care industry have boosted the demand for de-oiled lecithin market in the Asia Pacific region. Furthermore, the growing adoption of a premium lifestyle with quality food and increase in animal husbandry also fuel the de-oiled lecithin market growth in this region.

This report includes a study of the marketing and development strategies, along with the product portfolios of the leading companies. It includes the profiles of leading companies such as DowDuPont (US), Cargill (US), Archer Daniels Midland (US), Bunge Limited (US) and Stern Wywiol Gruppe (Germany). Other players include Lecico GmBH (Germany), American Lecithin Company (US), Lecital (Austria), Lasenor Emul (Spain), GIIAVA (INDIA) PVT. LTD (India), Novastell Essential Ingredients (France), Rasoya Proteins Ltd. (India), Clarkson Grain Company, Inc. (US), Amitex Agro Product Pvt. Ltd. (India), and Austrade Inc. (US).

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