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North America Lutein Market Size, Share & Industry Trends Analysis Report By Form (Powder & Crystalline, Beadlet, Emulsion, and Oil Suspension), By Source (Synthetic, and Natural), By Application, By Country and Growth Forecast, 2023 - 2030

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  • 123 Pages
  • August 2023
  • Region: North America
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5887043
The North America Lutein Market should witness market growth of 5.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 1,015.3 tonnes, showcasing a growth of 2.9% (2019-2022).

During the forecast period, the market is anticipated to grow as a result of government initiatives to increase knowledge of eye-related disorders, their treatment, and strategies to prevent them. Another market driver is the application of canthaxanthin and astaxanthin in salmonid and crustacean aquaculture due to their numerous culinary and therapeutic uses. Increased incidence of diseases like diabetes, cancer, and cardiovascular disease (CVD) are important reasons that are anticipated to drive the market ahead.

To increase their nutritional content and support eye health, lutein is added to various functional foods, including cereals, dairy products, bars, and beverages. These foods provide a practical strategy to boost lutein consumption and are meant to be included in a regular diet. The nutraceutical sector takes advantage of consumers' growing interest in preventative healthcare and a growing understanding of the value of eye health. Lutein has grown in popularity as a safe and useful nutrient for preserving good vision because many customers are looking for natural alternatives to support their well-being.

According to the CDC, over one million cataract procedures are conducted annually in the United States, and more than half of people over 80 have cataracts. As the population of the United States ages, cataract is predicted to become a greater health burden, particularly for people with lower socioeconomic status. Byooviz (ranibizumab-nuna), the first biosimilar to Lucentis (ranibizumab injection), has been given approval by the U.S. Food and Drug Administration for the treatment of several eye conditions and diseases, such as neovascular (wet) age-related macular degeneration (AMD), a key element responsible for blindness and loss of vision in Americans 65 and older. This high incidence of AMD and cataracts indicates the significant burden the region is facing and raises the demand for lutein, hence leading to regional market expansion.

The US market dominated the North America Lutein Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $105.4 Million by 2030. The Canada market is poised to grow at a CAGR of 8.1% during (2023-2030). Additionally, The Mexico market would register a CAGR of 7.1% during (2023-2030).

Based on Form, the market is segmented into Powder & Crystalline, Beadlet, Emulsion, and Oil Suspension. Based on Source, the market is segmented into Synthetic, and Natural. Based on Application, the market is segmented into Dietary Supplements, Beverages, Food, Animal Feed, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include BASF SE, Kemin Industries, Inc., E.I.D. Parry Limited (Murugappa Group), Merck KGaA, Piveg, Inc., Synthite Industries Pvt. Ltd., Dohler GmbH, Sabinsa Corporation (Sami-Sabinsa Group Ltd.), Fenchem Biotek Ltd., and India Glycols Limited

Scope of the Study

By Form

  • Powder & Crystalline
  • Beadlet
  • Emulsion
  • Oil Suspension

By Source (Volume, Tonnes, USD Thousand, 2019-2030)

  • Synthetic
  • Natural

By Application (Volume, Tonnes, USD Thousand, 2019-2030)

  • Dietary Supplements
  • Beverages
  • Food
  • Animal Feed
  • Others

By Country (Volume, Tonnes, USD Thousand, 2019-2030)

  • US
  • Canada
  • Mexico
  • Rest of North America

Key Market Players

List of Companies Profiled in the Report:

  • Kemin Industries, Inc.
  • E.I.D. Parry Limited (Murugappa Group)
  • Merck KGaA
  • Piveg, Inc.
  • Synthite Industries Pvt. Ltd.
  • Dohler GmbH
  • Sabinsa Corporation (Sami-Sabinsa Group Ltd.)
  • Fenchem Biotek Ltd.
  • India Glycols Limited

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Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Lutein Market, by Form
1.4.2 North America Lutein Market, by Source
1.4.3 North America Lutein Market, by Application
1.4.4 North America Lutein Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. North America Lutein Market by Form
4.1 North America Powder & Crystalline Market by Country
4.2 North America Beadlet Market by Country
4.3 North America Emulsion Market by Country
4.4 North America Oil Suspension Market by Country
Chapter 5. North America Lutein Market by Source
5.1 North America Synthetic Market by Country
5.2 North America Natural Market by Country
Chapter 6. North America Lutein Market by Application
6.1 North America Dietary Supplements Market by Country
6.2 North America Beverages Market by Country
6.3 North America Food Market by Country
6.4 North America Animal Feed Market by Country
6.5 North America Others Market by Country
Chapter 7. North America Lutein Market by Country
7.1 US Lutein Market
7.1.1 US Lutein Market by Form
7.1.2 US Lutein Market by Source
7.1.3 US Lutein Market by Application
7.2 Canada Lutein Market
7.2.1 Canada Lutein Market by Form
7.2.2 Canada Lutein Market by Source
7.2.3 Canada Lutein Market by Application
7.3 Mexico Lutein Market
7.3.1 Mexico Lutein Market by Form
7.3.2 Mexico Lutein Market by Source
7.3.3 Mexico Lutein Market by Application
7.4 Rest of North America Lutein Market
7.4.1 Rest of North America Lutein Market by Form
7.4.2 Rest of North America Lutein Market by Source
7.4.3 Rest of North America Lutein Market by Application
Chapter 8. Company Profiles
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments: Acquisition and Mergers: Expansions:
8.1.6 SWOT Analysis
8.2 Kemin Industries, Inc.
8.2.1 Company Overview
8.2.2 SWOT Analysis
8.3 E.I.D. Parry Limited (Murugappa Group)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 SWOT Analysis
8.4 Merck KGaA
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 SWOT Analysis
8.5 Piveg, Inc.
8.5.1 Company Overview
8.5.2 SWOT Analysis
8.6 Synthite Industries Pvt. Ltd.
8.6.1 Company Overview
8.6.2 SWOT Analysis
8.7 Dohler GmbH
8.7.1 Company Overview
8.7.2 SWOT Analysis
8.8 Sabinsa Corporation (Sami-Sabinsa Group Ltd.)
8.8.1 Company Overview
8.8.2 SWOT Analysis
8.9 Fenchem Biotek Ltd.
8.9.1 Company Overview
8.9.2 SWOT Analysis
8.10. India Glycols Limited
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 SWOT Analysis

Companies Mentioned

  • Kemin Industries, Inc.
  • E.I.D. Parry Limited (Murugappa Group)
  • Merck KGaA
  • Piveg, Inc.
  • Synthite Industries Pvt. Ltd.
  • Dohler GmbH
  • Sabinsa Corporation (Sami-Sabinsa Group Ltd.)
  • Fenchem Biotek Ltd.
  • India Glycols Limited