In 2032, the global lutein market, which is currently valued at US$ 354.3 million, is anticipated to reach US$ 590 million, growing at a CAGR of 5.2%.
The global Lutein market is projected to witness constant growth over the forecast period. The growth of the Lutein market is driven by rising demand for eye supplements due to the surge in the healthcare sector may drive the market during the forecast period.
Lutein has the ability to absorb blue light which later acts as ‘internal sunglasses’ which may reduce photochemical harm that occurs by short-wavelength of observable light. Consuming lutein through dietary supplements and leafy vegetables increases MPOD (Macular Pigment Optical Density) in human eyes and decreases the risk of AMD (Age-related Macular Degeneration).
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Global Lutein Market: Segmentation
The Lutein market can be segmented on the basis of end-use industry, application, and regions. Based on the end-use industry, Lutein is segmented into food, pharmaceuticals, nutraceuticals, animal feed applications, and dietary supplements.
The cosmetics & pharmaceutical sectors are projected to grow during the forecasted period. On the basis of the application, the lutein market is segmented into food coloring, dairy products, egg products, cosmetics, tobacco, medicine, and poultry feed. The application of lutein in dairy & egg products is the foremost segment of the Lutein market over the projected period.
Growing consumer preference towards functional dairy products such as cheese, yogurt, and ice creams due to increasing health concerns consumers may drive the global lutein market.
Global Lutein Market: Regional Outlook
On the basis of the geographical market segment, it is segmented into seven different regions: North America, Latin America, and Eastern Europe, Western Europe, and Asia-Pacific region, Japan and the Middle East and Africa.
In regional segments, APAC is presently the market leader in terms of revenue in the global lutein market and is expected to hold market dominance over the forecast period followed by North America will witness relatively high growth in the global Lutein market over the forecast period as increasing health concerns mainly increasing demand for Lutein in healthcare industry as consumers are using variety Lutein infused products which are related to bone, heart, eye, weight, digestion, immune diseases may drive U.S. lutein market.
Global Lutein Market: Drivers & Restraints
Hectic lifestyle and lack of stable diet have increased health problems such as diabetes, heart diseases, obesity, and stroke will boost the lutein dietary supplements market which includes fatty acid, minerals and vitamins during the anticipated period.
Supplements which contain lutein have some restraint, it may cause hives, rash, stomach cramps, and facial swelling & breathing problem is the major restraint of lutein market.
Consumption of high amount of lutein products or supplements may lead to a yellowing skin. Henceforth, lutein is not legalized as a nutritive ingredient in infant formula which reduces the industry profit margin and pressurizes products price trend is another key fear for global lutein market.
Global Lutein Market: Key Players
Some of the key players operating in the global Lutein market include DSM, BASF, Solaray, Sundown, Iorrow, Allied Biotech Corporation, Kemin, Tianjin Pharmaland, Nature’s Bounty, and few other regional players.
Manufacturers all over the world are expanding and innovating new technology and improving in production which may favor drive value & volume market size growth and also focus on different strategies to maintain their market share in the global lutein market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and Industry.
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The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional Analysis Includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies
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