In 2016, The United States Patent and Trademark Office has issued patent approval to Kemin Industries for the role of its products, FloraGLO Lutein and ZeaONE Zeaxanthin (distributed by DSM as OPTISHARP Natural), in protecting individuals with three common ocular disorders from blue light or light-induced damage. The approval will allow vitamin and other dietary supplement manufacturers to position their products for blue light protection.
The market is driven by increasing demand of eye supplement due to surge in healthcare, coupled with rising health issues such as diabetes, heart problems, obesity and stroke owing to hectic lifestyles and lack of stable diet. This is expected to boost the lutein dietary supplements market, which includes fatty acid, minerals, and vitamins, during 2018-2023 (the forecast period). However supplements with lutein are sometimes reported to cause side effects symptoms such as hives, rash, stomach cramps, and facial swelling; which somehow restraints the lutein market growth. It is used in listed medicines on the Australian Register of Therapeutic Goods for supply in Australia. In New Zealand, it is permitted to be sold as nutritive supplements under Dietary Supplements Regulations. However, lutein faces challenges in the regulatory approval for its application in infant formula, which reduces the industry growth.
There is huge potential for lutein infused products, particularly in the emerging markets, associated with bone, heart, eye, weight, digestion, immune diseases.
On the basis of application, global lutein market can be segmented into food & beverage, which is further categorized into dietary supplements, food colorings and others; pharmaceuticals, and others. Dietary supplements led the market and is expected to further witness market growth during the forecast period. Growth in dairy consumption, due to the technological innovation and improvement in the production process, may further accelerate the industry growth.
Asia-Pacific is expected to be fastest growing region for lutein market during the forecast period, owing to economic growth which has led to an increase in urbanization and rapid industrialization and subsequent growth in the consumer markets of nations like China, India etc. North America is also expected to witness relatively high growth in the global lutein market, owing to ophthalmic industry growth in the region especially US.
MAJOR PLAYERS: ALLIED BIOTECH CORPORATION, ANHUI RUISEN, BASF, CHR. HANSEN, DSM, KEMIN, MICROBO, NATURE’S BOUNTY, PHYTO NUTRACEUTICAL, SOLARAY, SUNDOWN, and TIANJIN PHARMALAND, amongst others.
- October, 2015: DSM and Kemin announced two new additions to their portfolio of eye health solutions including FloraGLO® Lutein and OPTISHARP® Zeaxanthin
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet in excel.
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trends
3.2 Market Dynamics
3.2.4 Porter's Five Forces Analysis
220.127.116.11 Bargaining Power of Suppliers
18.104.22.168 Bargaining Power of Buyers
22.214.171.124 Threat of New Entrants
126.96.36.199 Threat of Substitute Products & Services
188.8.131.52 Degree of Competition
4. Market Segmentation
4.1 By Application
4.1.1 Food & Beverages
184.108.40.206 Dietary Supplement
220.127.116.11 Food Colorings
4.3 By Geography
4.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
4.3.4 South America
126.96.36.199 South Africa
5. Competitive Landscape
5.1 Strategy Adopted by Key Players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 Allied Biotech Corporation
6.2 Anhui Ruisen
6.4 Chr. Hansen
6.8 Nature’s Bounty
6.9 Phyto Nutraceutical
6.12 Tianjin Pharmaland