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The global lutein market size is estimated to grow by USD 120.77 million between 2022 and 2027 exhibiting a CAGR of 6%. Lutein is a naturally occurring carotenoid that is used in various applications, such as food & beverages, cosmetics, dietary supplements, and animal feed. Lutein is beneficial for the prevention of eye diseases such as age-related macular degeneration (AMD) as well as for promoting healthy vision.
The growth of the market depends on several factors, such as the aging population driving spending on lutein-based dietary supplements, the increase in demand for lutein as a natural colorant in food and beverage applications, and the use of lutein in animal feed additives.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The aging population driving spending on lutein-based dietary supplements is driving the lutein market growth. Demand for Lutein-based dietary supplements in the projected period will be stimulated by an increase in the population of older people worldwide. With advancing age, health conditions and disorders such as poor visibility, joint pain, and weakness of the bones become common. As long as adequate intake of dietary supplements based on vitamins and minerals like Lutein is maintained, however, the onset of these diseases can be prolonged by significantly less than a year, making it one of the most important reasons for the sales of nutritional supplements in this age group.
However, it is estimated that around one-fifth of the overall consumers of lutein-based dietary supplements currently come into the aging category. The lifespans of people all over the world are increasing, thanks to better health care and facilities. This is helping the older population segment expand, which will, in turn, fuel the demand for lutein-based dietary supplements from this section of the population. This will drive the growth of the global lutein market during the forecast period.
The increasing adoption of health and wellness food is a primary trend in the lutein market. In order to provide consumers with health and functional benefits, health and wellness food products are specially formulated. They differ from conventional food and beverage products and comprise many other categories like functional foods, nutraceuticals, as well as special dietary food and beverages. Given factors such as increasing consumer awareness of health, it is estimated that the global market for healthy and natural foods and beverages will increase steadily over the forecast period. The quality of the ingredients that are used for food and beverages has become a more important concern among consumers over these past years.
Since, the demand for organic, natural, and functional food and beverage products is increasing among consumers, which is helping the lutein market to maintain steady growth. Lutein is widely used in order to improve the nutrition of food and beverage products as well as supplements. Hence, the rising adoption of health and wellness foods is likely to support the global lutein market growth over the forecast period.
The stability concerns regarding lutein is a major challenge faced by the lutein market. Environmental and climatic conditions can affect lutein. Environmental conditions such as sunlight, moisture, heat, pH, UV radiation, and temperature variations can significantly change the natural characteristics of lutein. Therefore, a change in smell, taste, or texture of food and beverage products with these colorants can occur when they are cooked and processed at high temperatures.
Also, lutein has a limited shelf life. During storage for a long time, or in the face of sunlight, moisture, and elevated temperatures, it tends to alter both its internal smell and color. The natural color of lutein can fade over time, and such changes in its natural characteristics can make food items unpleasant. Important consumer purchasing criteria are the color and visual appearance of food products. Therefore, the changes in the natural characteristics of the food product can significantly hinder the growth of the global lutein market during the forecast period.
This lutein market report extensively covers market segmentation by application (dietary supplements, food, and beverages, pharmaceuticals, and others), source (synthetic and natural), and geography (Europe, North America, APAC, South America, and Middle East and Africa).
The dietary supplements segment is estimated to witness significant growth during the forecast period. Dietary enhancements held the biggest portion of the worldwide lutein market in 2022. By taking a lot of vitamins, minerals, or fatty acids from dietary supplements, consumers can stay healthy and protect themselves from harmful diseases. Lutein is a successful enhancement to keep up with eye well-being and forestall the beginning old enough related to eye illnesses, including macular degeneration, waterfall, and visual impairment.
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The dietary supplements segment was the largest segment and was valued at USD 105.56 million in 2017. Dietary supplements are usually available in the form of pills, tablets, powdered additives, drinks, or shakes for easy consumption. In particular, due to rising consumer awareness of the need for preventative medical care, an increasingly aging population, and increased awareness about the benefits of maintaining good health, dietary supplements are also expected to grow significantly. These factors will drive the growth of the dietary supplements segment of the global lutein market during the forecast period.
Based on the source, the synthetic segment held the largest market share in 2021. The growth of the segment is due to the growing geriatric population globally and growing awareness about the benefits of synthetic lutein. Synthetic production of lutein is more economical, and therefore, growing automation across the production capacities is driving the growth of the synthetic lutein segment across the globe.
Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Europe was the leading regional segment in the global lutein market in 2022 and is expected to maintain its position in the forecast period. The region benefits from flourishing end-user industries like food and beverage and animal feed, which generate substantial demand. Additionally, the presence of numerous manufacturers and a large consumer base contribute to market growth.
Key contributing countries in the European lutein market include Germany, the UK, and France. The growing aging population and increased demand for packaged food products further drive the demand for lutein in the region, supporting the growth of the food and beverage industry.
The COVID-19 pandemic adversely affected lutein sales in Europe in 2020, with manufacturing units temporarily closed due to government-imposed lockdowns. However, the implementation of vaccination drives and the easing of restrictions helped stabilize the supply chain and manufacturing operations. Vendors focused on introducing advanced organic supplements as alternatives to those containing inorganic ingredients that could cause inflammatory reactions. Germany, for instance, has invested in research and development activities and safety assessments of plant-derived drugs and supplements, including lutein-based products. These factors are expected to drive the growth of the lutein market in Europe during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Lutein Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Kensingsolutions- The company offers Vitaslim capsules made up of Lutein, under its subsidiary called Vitae Caps SA.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
ADAMA Ltd., Allied Biotech Corp., BASF SE, Bio Med Ingredients, Chr Hansen Holding AS, Dohler GmbH, EID Parry India Ltd., FENCHEM, IOSA Industrial Organica, Katra Phytochem Pvt. Ltd., Kensing LLC, Koninklijke DSM NV, Natural Grocers by Vitamin Cottage Inc., Nestle SA, Nutraceutical Corp., Nutramarc Sports Nutrition and Co., OmniActive Health Technologies, Piveg Inc., Synthite Industries Pvt. Ltd., and Zhejiang Medicine Co. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The lutein market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Region Outlook (USD Million, 2017 - 2027)
Source Outlook (USD Million, 2017 - 2027)
Lutein Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2023-2027 |
USD 120.77 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.36 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 35% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADAMA Ltd., Allied Biotech Corp., BASF SE, Bio Med Ingredients, Chr Hansen Holding AS, Dohler GmbH, EID Parry India Ltd., FENCHEM, IOSA Industrial Organica, Katra Phytochem Pvt. Ltd., Kensing LLC, Koninklijke DSM NV, Natural Grocers by Vitamin Cottage Inc., Nestle SA, Nutraceutical Corp., Nutramarc Sports Nutrition and Co., OmniActive Health Technologies, Piveg Inc., Synthite Industries Pvt. Ltd., and Zhejiang Medicine Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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