Lutein Market – Global Industry Analysis and Forecast (2023-2029)

The Lutein Market was valued at USD 324.6 Million in 2022 and is expected to reach at USD 491.4 Million by 2029 at a CAGR of 6.10% over forecast period 2023-2029.
Lutein Market Overview:
Lutein is naturally occurring carotenoids that have huge applications, especially in food & beverages. Benefits of lutein include prevention against eye diseases as well as to promote the healthy vision. The growth of Lutein market is driven by rising demand for eye supplements due to the surge in healthcare sector, hectic lifestyle and lack of stable diet have increased health problems such as diabetes, heart diseases, obesity, and stroke will boost the lutein market over forecast period. Global Lutein Market is expected to register CAGR of approximately 6.1% during the forecast period.To know about the Research Methodology :- Request Free Sample Report
Lutein Market Dynamics:
Factors such as an increase in demand for lutein as a natural colorant in food and beverage applications, and the use of lutein in animal feed additives are expected to drive the demand for this ingredient in various consumer markets. In addition, increasing government initiatives for diabetes and heart problems is considered to drive the product demand across the end users. Moreover, sheer no. of aged demographics and thereby increasing vitamins and dietary supplement business across the emerging economies is factor augmenting the growth of the product.

According to US VMHS Survey, dietary supplements for diabetes, heart problems and other disease accounted for approximately 40% of Lutein market. Moreover, demographics of more than 65 years of age accounted for approximately 36% in terms of unit consumption. In addition, increasing consumer awareness for preventative healthcare across the globe and barrage of information available online are driving the product demand.

Majority of self-directed consumers across the emerging economies owing to increasing smartphone penetration and growing internet availability across the globe are the factors attributing opportunities for the prominent players in the market. The trend of self-directed consumers is growing rapidly as consumers are taking the health in their own hands and VMHS and lutein manufacturers are targeting those consumers online as well as offline trough healthcare campaigns. Moreover, personalized VMHS solutions provided by key players in the market and retailers are inclining towards online tools and E commerce for channelizing the products are the factors estimated to drive the growth of the product during the forecast period.

More restraints and opportunities are consolidated and analyzed in the report according to 2020 data and real numbers available in the market. In addition, consumers of report will get latest insights for market share and regional penetration of the product in the market with latest consolidation. So that, they can get idea about the market dynamics.
Lutein Market Segmentation Analysis:
The Lutein market is segmented by form, by sources, by applications, by production processes, and by geography. By form, powder & crystalline form sub-segment is expected to hold the largest share of approximately 35% followed by oil suspensions over forecast period. Increasing penetration of food and beverages in powdered form of supplements and increasing use of the form in treatment of muscular related issues are the factors driving the segment growth.Among the applications segment, dietary supplements sub-segment held the 29% market share in 2021 and is expected to keep its dominance over forecast period. Dietary supplements contain a good amount of minerals; vitamins and fatty acid that help consumers to stay healthy as well as preventing them from harmful diseases.

By source, Synthetic lutein is expected to witness lucrative growth owing to the growing awareness about the benefits of the product and the growing geriatric population globally. Moreover, synthetic production of lutein is more economical and growing automation across the production capacities are the factors driving the segment growth across the globe. On the other hand, increasing popularity of natural products and increasing spending power of consumers for high quality natural ingredients are lowering the demand for synthetic products in the market.
Lutein Market Regional Analysis:
By geography, market is segmented into APAC, North America, Europe, MEA& Africa and Latin America. Europe is expected to remain the dominant region with a 37.4% market share owing to increasing awareness about the advantages of carotenoid consumption, lutein finds application in pharmaceuticals, animal feed, medicine, and human food.

Asia Pacific market is expected to register the highest CAGR of 8.6% over forecast period. Developing economies such as China and India are likely to witness high growth High prevalence of eye disorders coupled with the growing demand for dietary supplements is anticipated to stimulate demand. An Increased health consciousness population and changing consumer lifestyle and preference along with growing awareness regarding the health benefits of the product are considered to drive the product demand.

North America is considered to gain prominent share in the market owing to increasing penetration of prominent players in the region of US and Canada and shift in ingredient focused products to broader brand positioning by manufacturers in the region. US market is accounted for approximately 56% market share in terms of sales of Lutein supplements owing to high fragmentation of sales channels in the region. Moreover, increasing concentration of VMHS services across the region is expected to contribute in regional growth during the forecast period.
Lutein Market Competitive Landscape:
Report covers key development and company profiles of major key players. Some key players are operating in this market are DSM, BASF, Solaray, Sundown, Iorrow, Allied Biotech Corporation, Tianjin Pharmaland, Nature’s Bounty, Chr. Hansen Holding A/S, Kemin Industries, Inc., DDW and The Colour House. By using various inorganic and organic growth strategies such as expansion, strategic alliances, merger and acquisition, new product launches, joint ventures etc. these players are increasing their regional presence and business operations.

For instance, In March, 2021, Kemin Industries, announced the launch of organic KEM GLO. Organic KEM GLO, a USDA-certified organic additive helps organic egg producers intensify the color of egg yolks. Organic KEM GLO is an addition to the existing line of Kemin’s cerotenoids such as KEM GLO, ORO GLO and Organic ORO GLO. The product launched by the company provides the egg yolk color benefits and lutein value to eggs. The objective of the report is to present a comprehensive analysis of the Global Lutein Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Lutein Market Trends:
Increasing penetration of private label products:

As more decisions are made by consumers owing to their increasing buying power and increasing inclination of private label product manufacturers towards consumer comfort are the key factors posing as market trends and expected to adhere the demand for the product. In addition, retailers are launching new private label offerings for their consumers under label of lifestyle brands which is driving the product penetration on local bases.

Enhanced category sophistication:

Pharmaceutical companies and consumer packaged goods providers are increasing the consumer health division to greater extent now. E.g. Purchase of NBTY by Carlyle group, Alacar purchased by Pfizer and New Chapter Co. purchased by P & G Global in year 2019 and 2020 respectively is indicating that trend of nontraditional players in the business are beginning to explore the category as it is the proven source of incremental growth.

The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Lutein Market dynamics, structure by analyzing the market segments and project the Global Lutein Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Lutein Market make the report investor’s guide.
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Global Lutein Market


Base Year
2022
Forecast Period
2023-2029


Historical Data
CAGR
Market Size in 2022
Market Size in 2029


2018 to 2022
6.10%
US$ 324.6 Mn
US$ 491.4 Mn


Segments Covered


by Form
Powder and crystalline
Beadlet
Oil Suspension
by Application
Food
Beverages
Dietary supplements
Animal Feed
Others
by Source
Natural
Synthetic
by Process
Chemical synthesis
Extraction From botanical materials
Fermentation
Algae Route


Regions Covered


North America
United States
Canada
Mexico
Europe
UK
France
Germany
Italy
Spain
Sweden
Austria
Rest of Europe
Asia Pacific
China
S Korea
Japan
India
Australia
Indonesia
Malaysia
Vietnam
Taiwan
Bangladesh
Pakistan
Rest of APAC
Middle East and Africa
South Africa
GCC
Egypt
Nigeria
Rest of ME&A
South America
Brazil
Argentina
Rest of South America



Lutein Market Key Players are:
1. BASF
2. Anhui Ruisen
3. Chr. Hansen
4. Kemin
5. E.I.D. Parry
6. Nature’s Bounty
7. Solaray
8. Ddw The Color House
9. Döhler
10. Lycored
11. Allied Biotech
12. Piveg
13. Fenchem
14. Zhejiang Medicine
15. DSM
16. DDW The Color House
17. East India Distilleries Parry Limited
18. OmniActive Health Technologies

FAQs:

1. What was the global Lutein market size in 2022?
Ans: 324.6 million USD.

2. Which is the dominating Form segment in Global market?
Ans: Powder & crystalline form sub-segment is expected to hold the largest share of approximately 35% followed by oil suspensions over forecast period. Increasing penetration of food and beverages in powdered form of supplements

3. Who are the top companies in Global market?
Ans: BASF (Germany) , Anhui Ruisen (China),Chr. Hansen (Denmark), Kemin (US), E.I.D. Parry (India), Nature’s Bounty (US), Solaray (US), Ddw The Color House (US), Döhler (Germany), Lycored (Israel), Allied Biotech (Taiwan), Piveg (US), Fenchem (China). , Zhejiang Medicine, DSM, DDW the Color House and Others.

4. Which region is dominating the Global market?
Ans: Europe is expected to remain the dominant region with a 37.4% market share owing to increasing awareness about the advantages of carotenoid consumption, lutein finds application in pharmaceuticals, animal feed, medicine, and food.

5. What are the key driving factor for the growth of the Global market?
Ans: Increase in demand for lutein as a natural colorant in food and beverage applications, and the use of lutein in animal feed additives are expected to drive the demand for this ingredient in various consumer markets.