Lutein Market

Lutein Market Outlook 

The global lutein market size was valued at USD 351.33 Million in 2022 and is expected to reach USD 573.71 Billion by 2031, expanding at a CAGR of 5.6% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand for diet supplements, particularly for eye care.

Lutein work as antioxidants and support the eye's function to promote healthy eyesight and other health conditions such as diabetes and heart disease. The carotenoid family includes lutein, a yellow pigment found in plants such as marigold.

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Carotenoids are pigments that occur naturally in a wide range of fruits and vegetables. Lutein is an antioxidant that is sometimes referred to as "the eye vitamin." It aids in the correct functioning of the eyes and promotes clear vision.

Lutein aids in the maintenance of the Macular Pigment Optical Density (MPOD), which is necessary for optimal vision. It works as a sunglass, absorbing blue light and so reducing retinal damage caused by direct sunshine and other artificial light sources.

Moreover, the US Patent and Trademark Office granted Kemin Industries a patent in 2016 for the function of their lutein product FloraGLO & ZeaONE Zeaxanthin (sold by DSM as OPTISHARP Natural) in preventing blue light or light-induced damage in people with three prevalent ocular illnesses.

Lutein Market Trends, Drivers, Restraints, and Opportunities

• Government initiatives for raising awareness regarding the treatment and methods to prevent eye-related conditions are likely to boost the market during the forecast period.
• Use of canthaxanthin and astaxanthin in salmonid and crustacean aquaculture is another driver of the market due to wide range of culinary and medicinal applications.
• Increased prevalence of ailments including cardiovascular disease, cancer, and diabetes are significant factors that expected to propel the market forward.
• Adverse effects of lutein supplement such as hives, rash, stomach cramps, and face swelling are key hurdles that can hamper the market expansion.
• Increased internet access for the purchasing of nutritional supplements is expected to create lucrative opportunities for the market growth in the coming years.

Scope of Lutein Market Report

The report on the global lutein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Lutein Market Segment Insights:

Applications Segment Analysis

On the basis of applications, the lutein market is segmented into dietary supplements, food & beverage, pharmaceuticals, animal feed and others. The dietary supplements segment is projected to expand at a considerable CAGR during the forecast period due to its various advantages in healthy growth.

On the other hand, the food & beverage segment is anticipated to account for a major market share during the forecast period as a result of increased spending on high-quality products and changing food consumption habits.

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Sources Segment Analysis

In terms of sources, the market is bifurcated into synthetic and natural. The synthetic segment is expected to hold a significant share of the market during the forecast period ascribed to rising demand for cost-effective manufacturing. However, the natural segment accounts for a significant market share as people become more aware of the benefits of natural lutein and become more health conscious.

Forms Segment Analysis

Based on forms, the market is segregated into oil suspension, beadlet, powder & crystalline, and emulsion. The beadlet segment is expected to grow at a high rate during the projected period owing to the development of innovative compounding processes and microencapsulated techniques to increase the stability, solubility, and bioavailability of lutein.

Moreover, the emulsion segment is expected to be a fast-growing segment during the forecast period as it remained physically stable at all incubation temperatures.

Regional Analysis

In terms of regions, the lutein market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to economic expansion, increased urbanization and industrialization, as well as following rise in consumer markets in countries such as China and India.

However, the market of North America is anticipated to expand at a rapid pace during the forecast period due to the expansion of the ophthalmology sector in the region, particularly in the United States.

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Segments

The global lutein market has been segmented on the basis of

Applications

• Dietary Supplements
• Food & Beverage
• Pharmaceuticals
• Animal Feed
• Others

Sources

• Synthetic
• Natural

Forms

• Oil Suspension
• Beadlet
• Powder & Crystalline
• Emulsion

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Chr. Hansen Holding A/S
• Kemin Industries, Inc.
• Allied Biotech Corporation
• BASF SE
• OmniActive Health Technologies

Competitive Landscape

Key players competing in the global lutein market are Chr. Hansen Holding A/S; Allied Biotech Corporation; Kemin Industries, Inc.; BASF SE; and OmniActive Health Technologies. The lutein market is fragmented due to the existence of big regional and domestic companies in several countries.

Major corporations are actively stressing on acquisitions, mergers, and partnerships, as well as new product creation, as strategic measures for increasing brand exposure among customers.