Lutein Market Size to Reach USD 473.5 Million By 2027

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Lutein Market Dynamics

According to a recent analysis by Reports and Data, the global Lutein market size, which was valued at USD 292.3 Million in 2019, is predicted to surpass USD 473.5 million by 2027, registering a CAGR of 6.4% over the forecast period. Lutein is an antioxidant carotenoid adding the yellow pigment to fruits and vegetables. It's one among the 2 major carotenoids color pigment within the human eye. It plays the role of a light filter and protects eye tissues from sunlight damage.

Healthy nutritional intake of lutein may help in maintaining good eyesight. On the other hand, inadequate consumption of lutein may deplete eyesight with age. Therefore, lutein is employed for preventing eye diseases including Age-related Macular Degeneration (AMD) and cataract. Rising awareness about health factors among the population is predicted to support market growth. Increasing demand for health supplements and lutein’s increasing usage as a natural colorant in food and beverage applications, alongside its use as an additive for animal feed, are some factors that drive the demand for the product over the forecast years.

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The synthetic lutein segment is estimated to carry a substantial market share , because the artificial production of lutein is more economical for the manufacturers. However, the growing cognizance about the benefits of natural lutein and increased health consciousness among the people is resulting in increased spending on high-quality products, due to which the marketplace for natural lutein is projected to grow at a better CAGR over subsequent several years.


However, high consumption of lutein can turn the skin yellow and cause other health complications. Moreover, lutein isn't a legalized nutritive ingredient in infant formula which restricts the expansion of the industry.


To identify the key trends within the industry, click on the link below: https://www.reportsanddata.com/report-detail/lutein-market

Lutein Market: Regional Outlook
Europe held 36.2% of the lutein industry share in 2019 and it is expected that that this share will grow substantially within the coming years. Presence of key manufacturers including BASF, Chr. Hansen, and Döhler within the region is projected to influence growth. High incidence of cataract and AMD within the region is additionally likely to drive product demand. The European Society of Retina Specialists estimated that in 2017,AMD affected around 34 million people within the European Union. This included 22 million people within the five most populous European countries namely Germany, France, the UK, Italy and Spain. Furthermore, the extent of patients suffering from AMD within the region is predicted to rise by nearly 25% by 2050, stimulated by population expansion and ageing. This is often anticipated to make lucrative growth opportunities for the lutein market.

Asia Pacific lutein market is predicted to account for 23.2% of the share within the global lutein market. Developing nations like China and India are estimated to witness high growth within the industry. Rising prevalence of eye disorders including the growing demand for dietary supplements not to mention the growing pool of geriatric populace, is anticipated to stimulate demand.

Lutein Market: Key Players

  • BASF
  • Hansen
  • I.D. Parry
  • Zhejiang Medicine
  • DDW The Color House

 

COVID-19 Impact on Lutein Market:

As the COVID-19 crisis is rising, producers are rapidly changing their activities and purchasing strategies to meet the pandemic's demands that have developed the need for lutein market. A sequence of positive as well as negative shocks will arise over a few months as producers and their vendors adapt to changing customer demands. Many regions look vulnerable at present due to the global situation. For instance, Europe has witnessed a renewed insurgence of coronavirus that has forced the courtiers in the region to enter into another lockdown. This will ultimately affect the lutein market as though there is still demand for the product, supply chains have majorly broken down and production in many cases has been halted for employee safety. One positive aspect of the pandemic is that it has made people more health conscious which will indirectly boost the lutein market as well, an aspect that is expected to help the market gain back its footing once things go back to normal.

Report Highlights:

  • Detailed overview of the market
  • Evolving lutein market dynamics
  • In-depth lutein market classification
  • Historical, present, and anticipated lutein market size and share in terms of volume and value
  • Recent lutein market trends and advances
  • Competitive landscape
  • Strategies adopted by key players and products portfolio
  • Segments, sub-segments, and geographic regions exhibiting growth prospects
  • A neutral and global perspective on lutein market performance

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Lutein Market: Segmentation

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 (Volume, Kilo Tons; 2017-2027  and Revenue, USD Million; 2017-2027)

  • Powder & Crystalline
  • Oil Suspension
  • Beadlet
  • Emulsion

Source (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)

  • Natural
  • Synthetic

Application (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)

  • Food
    • Bakery & confectionery products
    • Infant formula & formulated supplementary food products
    • Dairy products
    • Others
  • Beverages
    • Aerated & carbonated drinks
    • RTD beverages
    • Sports & energy drinks
    • Juice concentrates & fruit juices
    • Others
    • Dietary Supplements
    • Animal Feed
    • Others

Production Process (Volume, Kilo Tons; 2017-2027  and Revenue, USD Million; 2017-2027)

  • Chemical synthesis
  • Extraction from botanical materials
  • Fermentation
  • Algae route

Regional Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
  • Latin America
    • Brazil

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