June 07, 2022 10:30 ET | Source: Persistence Market Research Persistence Market Research
New York, New York, UNITED STATES
New York, June 07, 2022 (GLOBE NEWSWIRE) — The global lecithin market growth is anticipated to witness significant growth at a CAGR of 6.9% and reach a market valuation of US$ 2.9 Bn by 2031, as per detailed industry analysis by Persistence Market Research.
Lecithin is loaded with various skincare benefits; it enhances the appearance and texture of the skin. Lecithin improves the appearance of damaged and dry skin by reducing flaking and restoring suppleness. Lecithin is loaded with antioxidants and exhibits soothing properties. It acts as a natural moisturizer and moisturizes and nourishes the skin. Due to its incredible skin nourishing and hydrating properties, lecithin is used in numerous cosmetic products.
Increasing demand for personal care products in Asia Pacific is creating opportunities for lecithin manufacturers. Ever-rising demand for personal care products and cosmetics with natural ingredients is also expected to result in significantly high sales of ingredients used in these products. Revenue from sales of personal care products and ingredients is forecasted to increase substantially in countries such as India, China, Southeast Asia, and Japan over the coming years.
All these factors are setting up the global market for lecithin to expand nearly 2X by 2031.
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Key Takeaways from Market Study
“Due to growing popularity of natural ingredients in final products, manufacturers have started using lecithin as one of the raw materials in various personal care products,” says a Persistence Market Research analyst.
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Lecithin manufacturers are focusing on innovation, research, and development to get high quality confectionery items. Key players are anticipated to expand their product ranges through multiple innovations.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global lecithin market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.
The study offers compelling insights on the basis of nature (GMO, Non-GMO), product type (unrefined lecithin, refined lecithin, and chemically modified lecithin), form (powder, granules, and liquid), function (emulsifiers, dispersing agents, surfactants, and others), and application (bakery & confectionery, dairy products, infant & dietetic food products, meat & poultry items, instant foods, other processed foods, dietary supplements & pharmaceuticals, cosmetics industry, and animal feed), across seven major regions of the world.
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