DUBLIN--(BUSINESS WIRE)--The "Lutein Market Size, Share, Demand By Form, By Source, By Application, By Region, Segment Forecast To 2027" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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 Dohler, 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.
Key Topics Covered:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019 - 2027
Chapter 3. Indicative Metrics
3.1. Macro-Economic Indicators
3.1.1. Medicinal applications of lutein
3.1.2. Growing demand for natural colorants
Chapter 4. Lutein Segmentation & Impact Analysis
4.1. Lutein Segmentation Analysis
4.2. Lutein Market Value Chain Analysis, 2017-2027
4.3. Regulatory framework
4.4. Lutein Market Impact Analysis
4.4.1. Market driver analysis
220.127.116.11. Preventive healthcare and nutraceuticals
18.104.22.168. Growing aquaculture Industry
4.4.2. Market restraint analysis
22.214.171.124. Harmful effects of high doses of lutein
126.96.36.199. Stringent regulations
4.5. Key opportunities prioritized
4.6. Lutein Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Lutein PESTEL Analysis
Chapter 5. Lutein Market By Form Insights & Trends
5.1. Lutein Form dynamics & Market Share, 2019 & 2027
5.2. Powder & Crystalline
5.3. Oil Suspension
Chapter 6. Lutein Market By Source Type Insights & Trends
6.1. Lutein Source Type dynamics & Market Share, 2019 & 2027
Chapter 7. Lutein Market By Application Type Insights & Trends
7.1. Lutein Application Type dynamics & Market Share, 2019 & 2027
7.2.1. Market estimates and forecast, 2017 - 2027 (USD Million) (Kilo Tons)
7.2.2. Market estimates and forecast, by region, 2017 - 2027 (USD Million) (Kilo Tons)
7.2.3. Bakery & confectionery products
7.2.4. Infant formula & formulated supplementary food products
7.2.5. Dairy products
7.3.1. Market estimates and forecast, 2017 - 2027 (USD Million) (Kilo Tons)
7.3.2. Market estimates and forecast, by region, 2017 - 2027 (USD Million) (Kilo Tons)
7.3.3. Aerated & carbonated drinks
7.3.4. RTD beverages
7.3.5. Sports & energy drinks
7.3.6. Juice concentrates & fruit juices
7.4. Dietary Supplements
7.5. Animal feed
Chapter 8. Lutein Market By Production Process Insights & Trends
8.1. Lutein Production Process dynamics & Market Share, 2019 & 2027
8.2. Chemical synthesis
8.3. Extraction from botanical materials
8.5. Algae route
Chapter 9. Lutein Market Regional Outlook
9.1. Lutein Market share by region, 2019 & 2027
Chapter 10. Competitive Landscape
10.1. Market Revenue Share by Manufacturers
10.2. Manufacturing Cost Breakdown Analysis
10.3. Mergers & Acquisitions
10.4. Strategy Benchmarking
10.5. Vendor Landscape
Chapter 11. Company Profiles
11.2. Chr. Hansen
11.3. E.I.D. Parry
11.4. Zhejiang Medicine
11.5. DDW The Color House
11.9. Allied Biotech
For more information about this report visit https://www.researchandmarkets.com/r/xxf5zt