Fact.MR opines that the Global — egg yolk lecithin market will register a CAGR of approximately 6% during the forecast period of 2019-2029. A meaningful evolution of the processed food industry in recent years has brought about an increase in the consumption of functional foods, one such ingredient being egg yolk lecithin. The boost garnered by the rise of global disposable income on the backdrop of increased employment rates has lead people to spend on nutritional products such as egg yolk lecithin supplements. The increasing incidence of sedentary lifestyles and desk jobs have impacted the health of people, by causing conditions such as obesity and increased vulnerability towards cardiovascular diseases. It is estimated that about 30% of global deaths occur due to CVDs.
To maintain heart health and body weight, consumers have shifted their focus towards activities such as dieting and exercising. Some of the diets require consumption of supplements, which provide essential micronutrients to give a boost to performance. One such supplement is egg yolk lecithin. Egg yolk lecithin has benefits ranging from weight loss to brain and neural network formation, which has also found its application in the pharma and nutraceutical industry. Other industries utilizing egg yolk lecithin are cosmetics & personal care, animal feed etc.
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Emulsification – A Major Function of Egg Yolk Lecithin, Finding Application in Multiple Industries
Egg Yolk Lecithin is considered to be an excellent emulsifier due to its amphiphilic nature towards both water and fatty substances. Thus, lecithin finds application in the food processing industry to manufacture sauces such as mayonnaise and hollandaise. This emulsification property also leads to its usage in preparation of creams for café and bakery products and in chocolates. Research about lecithin has suggested that it not only acts as an emulsifier but also helps increase the proportion of good cholesterol ‘HDL’ in the blood, thus providing an added health-related benefit to consumers.
The emulsification property of egg yolk lecithin also finds its application in the pharmacological industry. Various medicinal syrups contain egg yolk lecithin as an emulsifier. Another application of egg yolk lecithin is in eye-drops, where it is utilized to keep the drops in contact with the cornea of the eye. These applications of egg yolk lecithin have lead companies to develop products, which are clean label so as to keep consumers informed about their consumption pattern. Egg yolk lecithin also finds its application in the cosmetic industry pertaining to this property. It facilitates holding together of the components in cosmetics, thus maintaining their characteristics such as fluidity and applicability. The research carried out regarding egg yolk lecithin have led to development of egg yolk lecithin-based nanoparticles, which can become a breakthrough innovation leading to multi-dimensional growth of the global egg yolk lecithin market.
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Key Market Participants Shifting Focal Point towards Developing Economies
Currently, North America and Europe hold around 58% of the global egg yolk lecithin market share. This is foreseeable due to the stable economy in these regions, leading to increased spending capacity, high urbanization, and greater awareness regarding health benefits of egg yolk lecithin. The market players in the past focused on these regions, to have optimal income from the egg yolk lecithin market. Although, they continue their trade in these developed economies, many key players have brought their attention towards developing economies of Latin America, Africa and Asia Pacific. Cargill, for example has invested more than US$ 500 Mn, in the past 2 years, in various Asian markets so as to create a stronghold in the region for its products, one of them being egg yolk lecithin.
The companies have also strategized to expand their production and logistics capabilities by acquiring or collaborating with key companies providing these services. For e.g. Thermo-Fisher, parent organization of Alfa Aesar, acquired Advanced Bioprocessing Business from Becton, Dickinson and Company in Oct 2018, to increase its technical capabilities in biological products. ADM also strengthened its nutrition portfolio by acquiring Ziegler Group in Feb 2019. The market players are aiming to augur the benefits from developing economies, which are to show a combined CAGR of around 6.5% during the forecast decade of 2019-2029 in the global egg yolk lecithin market.
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