Increasing demand for eye supplements, along with the growing prevalence of chronic health disorders, such as diabetes, heart problems, obesity, and stroke, due to hectic lifestyles and lack of stable diet, are factors contributing to the high CAGR of the lutein market during the forecast period.
Market Size - USD 292.3 Million in 2019, Market Growth - CAGR of 6.4%, Market Trends - Product launches in the market
According to the current analysis, the Global Lutein Market size was valued at USD 292.3 Million in 2019 and is expected to reach USD 473.5 Million by 2027, registering a CAGR of 6.4 % over the forecast period. Lutein is an antioxidant carotenoid responsible for the yellow color of fruits and vegetables. It is one of the two major carotenoids found as a color pigment in the human eye. It acts as a light filter and protects the eye tissues from sunlight damage.
A healthy nutritional intake of Lutein may help provide good eyesight. However, inadequate consumption may deplete eyesight with age. Dietary supplements include minerals, vitamins, and fatty acids that help consumers stay healthy and prevent harmful diseases. Increasing health concerns among the population are expected to support market growth. Rising demand for the product as a health supplement and its increasing usage as a natural colorant in food & beverage products, along with its use as an additive for animal feed, are some factors expected to drive the demand for the product over the forecast years.
Europe held 36.2% of the industry by 2019 and is projected to grow significantly in the coming years. Presence of key manufacturers, including BASF, Chr. Hansen, and Döhler, in the region, is forecast to influence growth. A high incidence of cataract and Age-related Macular Degeneration (AMD) in the region is also likely to drive demand. The European Society of Retina Specialists, in 2017, estimated that AMD affected around 34 million people in the European Union and 22 million people in the five most populous European countries, namely Germany, France, the United Kingdom, Italy, and Spain. Furthermore, the number of patients affected by AMD in the region is expected to rise by almost 25% based on population growth and aging until 2050. This is anticipated to create lucrative growth opportunities for the product.
However, high consumption of Lutein leads to yellowing of the skin. Moreover, Lutein is not an officially recognized nutritional ingredient for infant formula, which restricts the growth of the industry.
Further key findings from the report suggest
Segments covered in the report:
For the purpose of this study, Reports and Data has segmented the Lutein Market on the basis of form, source, application, production process, and region:
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Source Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Production Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
Reasons to Buy the Report
Market Size - USD 292.3 Million in 2019, Market Growth - CAGR of 6.4%, Market Trends - Product launches in the market
According to the current analysis, the Global Lutein Market size was valued at USD 292.3 Million in 2019 and is expected to reach USD 473.5 Million by 2027, registering a CAGR of 6.4 % over the forecast period. Lutein is an antioxidant carotenoid responsible for the yellow color of fruits and vegetables. It is one of the two major carotenoids found as a color pigment in the human eye. It acts as a light filter and protects the eye tissues from sunlight damage.
A healthy nutritional intake of Lutein may help provide good eyesight. However, inadequate consumption may deplete eyesight with age. Dietary supplements include minerals, vitamins, and fatty acids that help consumers stay healthy and prevent harmful diseases. Increasing health concerns among the population are expected to support market growth. Rising demand for the product as a health supplement and its increasing usage as a natural colorant in food & beverage products, along with its use as an additive for animal feed, are some factors expected to drive the demand for the product over the forecast years.
Europe held 36.2% of the industry by 2019 and is projected to grow significantly in the coming years. Presence of key manufacturers, including BASF, Chr. Hansen, and Döhler, in the region, is forecast to influence growth. A high incidence of cataract and Age-related Macular Degeneration (AMD) in the region is also likely to drive demand. The European Society of Retina Specialists, in 2017, estimated that AMD affected around 34 million people in the European Union and 22 million people in the five most populous European countries, namely Germany, France, the United Kingdom, Italy, and Spain. Furthermore, the number of patients affected by AMD in the region is expected to rise by almost 25% based on population growth and aging until 2050. This is anticipated to create lucrative growth opportunities for the product.
However, high consumption of Lutein leads to yellowing of the skin. Moreover, Lutein is not an officially recognized nutritional ingredient for infant formula, which restricts the growth of the industry.
Further key findings from the report suggest
- By source, the synthetic lutein segment dominated the market as of 2019, as they are cost-effective and easy to manufacture.
- Lutein accumulates in the brain, and thus, it is also found to have a prominent role in brain and memory support.
- Europe is anticipated to remain the dominant segment over the forecast period, with a 36.2% market share. Owing to increasing awareness about the advantages of carotenoid consumption, Lutein finds application in pharmaceuticals, animal feed, medicine, and human food.
- The Asia Pacific is expected to account for 23.2% of the share in the global lutein market. Developing nations, such as China and India, are likely to witness high growth. The high prevalence of eye disorders, coupled with the growing demand for dietary supplements, is anticipated to stimulate demand.
- Emulsions are expected to witness the fastest growth at a CAGR of 6.8% during the forecast period. The development of microencapsulated techniques in order to improve the stability, solubility, and bioavailability of Lutein drives the growth for this market segment.
- A high dose of carotenoids like Lutein can cause carotenoderma - yellow discoloration of the skin
- Key participants include BASF, Chr. Hansen, E.I.D. Parry, Zhejiang Medicine, and DDW The Color House, among others.
- BASF is a German company that offers an extensive line of carotenoids, primarily in North America, Europe, and Asia. Its product line Xangold includes natural Lutein for dietary supplements and food and beverage applications.
Segments covered in the report:
For the purpose of this study, Reports and Data has segmented the Lutein Market on the basis of form, source, application, production process, and region:
Form Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Powder & Crystalline
- Oil Suspension
- Beadlet
- Emulsion
Source Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Natural
- Synthetic
Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Food
- Bakery & confectionery products
- Infant formula & formulated supplementary food products
- Dairy products
- Others
- Beverage
- Aerated & carbonated drinks
- RTD beverages
- Sports & energy drinks
- Juice concentrates & fruit juices
- Others
- Dietary Supplements
- Animal Feed
- Others
Production Process Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- Chemical synthesis
- Extraction from botanical materials
- Fermentation
- Algae route
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Lutein Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Lutein market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Lutein Segmentation & Impact Analysis
Chapter 5. Lutein Market By Form Insights & Trends
Chapter 6. Lutein Market By Source Type Insights & Trends
Chapter 7. Lutein Market By Application Type Insights & Trends
Chapter 8. Lutein Market By Production Process Insights & Trends
Chapter 9. Lutein Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- BASF (Germany)
- Lycored (Israel)
- Allied Biotech (Taiwan)
- Chr. Hansen (Denmark)
- E.I.D. Parry (India)
- Zhejiang Medicine (China)
- Kemin (U.S.)
