New York, April 12, 2023 (GLOBE NEWSWIRE) -- The global Phospholipids Market is predicted to exhibit a growth rate of 6.8% between 2023 and 2033. The unique function of phospholipids includes emulsifiers, stabilizers, binding agents, and many others that are used in different end-use applications such as pharmaceuticals, cosmetics, and nutraceutical products. The global market is thus expected to reach a revenue of US$ 6.62 billion by the end of 2033.
Phospholipids are used as a drug delivery vehicle to enhance the solubility and bioavailability of poorly soluble drugs. They can also act as stabilizers in the formulation of protein-based drugs. In the food industry, they are used as an emulsifier and stabilizer in the production of several food products such as mayonnaise, salad dressings, and chocolate. They can also improve the texture, taste, and appearance of processed foods.
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Phospholipids are used as emollients and moisturizers in cosmetics and personal care products. They can also enhance the delivery of active ingredients into the skin. In the field of biotechnology, they are used as a substrate for the production of various lipids such as prostaglandins, leukotrienes, and platelet-activating factors. They are also used as surfactants in cell culture media to improve cell growth and viability.
Over the next ten years, phospholipid consumption is set to increase much faster that what it was in the past few years, particularly in Asia Pacific countries such as China, India, and South Korea. As a result, key manufacturers are putting their resources toward improving their production capacities to meet this rising demand from a wide range of end-use industries.
Key Takeaways from Market Study
- The global market for phospholipids reached a valuation of US$ 3.25 billion at the end of 2022.
- The natural source segment is estimated to expand rapidly at 6.9% CAGR during the assessment period.
- The market in East Asia is predicted to create an incremental dollar opportunity of US$ 511.9 million over the next ten years.
- By application, use of phospholipids in nutraceutical supplements is anticipated to exhbit a CAGR of 7.1% over the decade.
“Key market participants are investing a lot in research & development to investigate new applications of phospholipids, mainly in the field of biotechnology and nanotechnology, as the market is still in its developmental stage,” says a Persistence Market Research analyst.
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Competitive Landscape
The global phospholipids market is a fragmented space owing to several renowned players operating in the market. Some of the key market players included in the report are Archer Daniels Midland Company, Evonik Industries AG, Croda International Plc, Bunge Ltd., Kewpie Corporation, Wilmar International Ltd., Lipoid GmbH, Lecico GmbH, Lasenor Emul SL, VAV Life Sciences Pvt. Ltd, and American Lecithin Company.
These market participants are expected to maintain a competitive environment worldwide. Market players are also investing in research and development to explore new phospholipid applications. The market is currently in a progressive stage with key developments such as expansion, acquisitions, and collaborations observed.
Conclusion
The market is anticipated to grow at a healthy rate, especially in East Asia and South Asia Pacific, due to rising demand from numerous end-use sectors such as food & beverages, pharmaceuticals, cosmetics, nutraceutical supplements, and many others.
East Asia and South Asia Pacific are pretty diverse from one another as far as client base, innovation, and geopolitical circumstances are concerned. The market in India, China, and ASEAN nations is anticipated to take off shortly due to rapidly expanding end-use industries.
More Valuable Insights
Persistence Market Research, a research and consulting firm, has published a new market research report on the global phospholipids market that contains an industry analysis of 2018 to 2022 and an opportunity assessment for 2023 to 2033.
The report provides an in-depth analysis of the market through different segments, namely, type, source, end, and region. The report also provides supply and demand trends along with an overview of the parent market.
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For additional insights on how the global phospholipids market will shape up over the decade, write to media@persistencemarketresearch.com
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