The global lutein market is seeing sustained increase as a result of growing consumer knowledge of lutein’s advantages for eye health. Many fruits and vegetables naturally contain lutein, a pigment that has been shown to guard against cataracts and age-related macular degeneration. The market is expanding due to the growing demand for lutein-containing functional foods and dietary supplements. In addition, expanding uses in the pharmaceutical and cosmetic sectors along with improvements in extraction methods are anticipated to propel the lutein market in the upcoming years.
The current estimated value of the world market for lutein is US$ 354.3 million. By 2032, it is anticipated to have grown at a compound annual growth rate (CAGR) of 5.2% and total US$ 590 million.
The global lutein market is expected to grow steadily over the forecast period. The lutein market is expanding and is predicted to continue so for the foreseeable future due to rising demand for eye supplements brought on by the explosive growth of the healthcare industry.
Lutein functions as a type of “internal sunglasses,” absorbing blue light to potentially lessen the photochemical damage from short visible light wavelengths. Lutein can be taken as a dietary supplement and in green vegetables to increase MPOD (Macular Pigment Optical Density) in human eyes and reduce the risk of AMD (Age-related Macular Degeneration).
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Global Lutein Market: Segmentation
The Lutein market can be segmented on the basis of end-use industry, application, and regions. Based on the end-use industry, Lutein is segmented into food, pharmaceuticals, nutraceuticals, animal feed applications, and dietary supplements.
The cosmetics & pharmaceutical sectors are projected to grow during the forecasted period. On the basis of the application, the lutein market is segmented into food coloring, dairy products, egg products, cosmetics, tobacco, medicine, and poultry feed. The application of lutein in dairy & egg products is the foremost segment of the Lutein market over the projected period.
Growing consumer preference towards functional dairy products such as cheese, yogurt, and ice creams due to increasing health concerns consumers may drive the global lutein market.
Global Lutein Market: Regional Outlook
On the basis of the geographical market segment, it is segmented into seven different regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia-Pacific region, Japan and the Middle East and Africa.
In regional segments, APAC is presently the market leader in terms of revenue in the global lutein market and is expected to hold market dominance over the forecast period followed by North America will witness relatively high growth in the global Lutein market over the forecast period as increasing health concerns mainly increasing demand for Lutein in healthcare industry as consumers are using variety Lutein infused products which are related to bone, heart, eye, weight, digestion, immune diseases may drive U.S. lutein market.
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Global Lutein Market: Drivers & Restraints
Hectic lifestyle and lack of stable diet have increased health problems such as diabetes, heart diseases, obesity, and stroke will boost the lutein dietary supplements market which includes fatty acid, minerals and vitamins during the anticipated period.
Supplements which contain lutein have some restraint, it may cause hives, rash, stomach cramps, and facial swelling & breathing problem is the major restraint of lutein market.
Consumption of high amount of lutein products or supplements may lead to a yellowing skin. Henceforth, lutein is not legalized as a nutritive ingredient in infant formula which reduces the industry profit margin and pressurizes products price trend is another key fear for global lutein market.
Global Lutein Market: Key Players
Some of the key players operating in the global Lutein market include DSM, BASF, Solaray, Sundown, Iorrow, Allied Biotech Corporation, Kemin, Tianjin Pharmaland, Nature’s Bounty, and few other regional players.
Manufacturers all over the world are expanding and innovating new technology and improving in production which may favor drive value & volume market size growth and also focus on different strategies to maintain their market share in the global lutein market.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional Analysis Includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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