According to the latest analysis by Reports and Data, the global lutein market was valued at $274.6 million in 2018 and is expected to reach $454.8 million by 2026, at a CAGR of 6.4%. Lutein is an antioxidant carotenoid responsible for the yellow color in fruits and vegetables. It is one of the two main carotenoids found as a color pigment in the human eye. It acts as a light filter, protecting the eye tissues from damage caused by sunlight.
A healthy dietary intake of lutein can contribute to good vision. However, insufficient consumption can impair vision with age. Dietary supplements include minerals, vitamins and fatty acids that help consumers stay healthy and prevent harmful diseases. Rising public health concerns are expected to support market growth. Increasing demand for the product as a dietary supplement and its increasing use as a natural colorant in food and beverage applications, as well as its use as an animal feed additive are some factors driving demand for the product over the projected years.
Europe held 36.2% of the industry in 2018 and is expected to grow significantly in the coming years. The presence of important manufacturers such as BASF, Chr. Hansen and Döhler in the region is expected to influence growth. The high incidence of cataracts and age-related macular degeneration (AMD) in the region should also boost demand. Based on statistics published by the European Society of Retina Specialists, AMD affected around 34 million people in the European Union and 22 million people in the five most populous European countries alone in 2017: Germany, France, Great Britain, Italy and Spain. In addition, the number of patients affected by AMD in the region is expected to increase by almost 25% by 2050 due to population growth and aging. This is expected to create lucrative growth opportunities for the product.
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The research report provides details of leading companies operating in the global Lutein market as well as global position, financial standing, licensing agreement, product and service portfolio, and revenue contribution of each market player. Major players in the market are focused on implementing various strategies such as mergers and acquisitions, business expansion plans, new product launches, partnerships, collaborations and joint ventures to improve their product base and compete in the market.
Increasing consumer appetite for functional, organic and probiotic foods and beverages is fueling the growth of the global food and beverage industry. Various studies show health benefits associated with “ethnic” and organic foods. These foods improve cardiovascular health, improve arthritis, digestive problems, and other inflammatory conditions. Consumers are beginning to focus on mindful eating and consuming foods for health and wellness. Changing consumer eating and nutritional habits are driving brand owners and new entrants to adopt healthy food options. Several clean label products have been launched and consumer curiosity about new products is immense
Rising middle-class consumers with rising incomes in developing countries like India and China will fuel growth in the food and beverage market. In addition, increasing consumer preference for sourcing food and beverages from online platforms due to variety, cost and time savings will boost the market size by 2027.
Some of the leading market players are listed below:
- BASF (Germany),
- Lycored (Israel),
- Allied Biotech (Taiwan),
- Hansen (Denmark),
- ID Parry (India),
- Zhejiang Medicine (China),
- Kemin (USA)
For more information on this report: https://www.reportsanddata.com/report-detail/lutein-market
Lutein Market Segmentation Based On Outlook:
- Powder & Crystalline
- oil and suspension
Lutein market segmentation based on Source Outlook
Lutein Market Segment By Application:
- dietary supplements
Lutein Market Segment By Regions:
- North America (USA, Canada, Mexico)
- Europe (Germany, Great Britain, France, Italy, Spain, Benelux, rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, rest of Latin America)
- Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, Rest of Middle East and Africa)
Key Features of the Global Lutein Market:
- The report offers detailed estimates at a regional level with manufacturers, consumption, sales and import/export dynamics.
- The report provides accurate details of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio and gross profit of leading companies.
- Company profiling with prevailing expansion strategies, revenue generation and recent developments.
- Optimal strategic initiatives for new players in the market.
- Manufacturing processes, suppliers, costs, production and consumption rates, mode of transport and cost structuring, and value chain analysis.
- The study also includes supply chain trends, including detailed descriptions of the latest technological developments
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