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Egg yolk lecithin market foreseen to showcase CAGR of 6.2% until 2028
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Monday, 16 July, 2018, 08 : 00 AM [IST]
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The egg yolk lecithin market is foreseen to showcase a splendid 6.2 per cent value compound annual growth rate (CAGR) over the forecast period 2018 to 2028. These were the findings of a recent Fact.MR study. It will witness the confines of increasing raw material costs, which are influenced by the ripple effects of inappropriate insecticide utilization and bird flu.
The radical attributes of egg yolk lecithin have offset the challenges apropos of compiling the ingredients list to include allergen-free and natural elements.
With consumers’ and manufacturers’ preference for non-genetically-modified organisms (GMO) ingredients on the rise, it has witnessed increased adoption in the nutraceutical industry.
The demand for egg yolk lecithin is likely to coattail proliferation in adoption of packaged and processed food, which is primarily fuelled by the fast-paced lifestyles of consumers.
Sensing evolving requirements of end-users, key stakeholders in the egg yolk lecithin market have introduced a wide range of product variants.
“De-oiled egg yolk lecithin will continue to prevail as top-selling variant, whereas refined egg yolk lecithin will witness sales at a higher rate through 2028,” stated the study.
One in three tonne of egg yolk lecithin sold worldwide is expected to be de-oiled variant, with the study estimating that de-oiled egg yolk lecithin sales will exceed 22,400 tonne in 2018.
The dominance of the food and beverage industry in the egg yolk lecithin market has been pervasive, and the status quo is likely to endure.
The key functional properties of egg yolk lecithin such as emulsification are sought-after in the food and beverage industry.
Its adoption in this sector will remain underpinned by extensive demand for processed meat, including salami and sausages, and ready-to-eat meals.
The rise of the packaged food industry, in light of changing consumption patterns of consumers, will also augur well for growth of the egg yolk lecithin market.
The food and beverage industry is envisioned to account for over 50 per cent share of the egg yolk lecithin market, in terms of value and volume alike.
Although Europe currently dominates the egg yolk lecithin market, North America is foreseen to outgrow Europe, in terms of value.
The upward trend of human nutrition, coupled with increased traction of functional foods and demand for nutrition-rich and naturally-sourced ingredients are the key factors spurring the adoption of egg yolk lecithin in North America.
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