The Global Lutein Market size is expected to reach $531.6 million by 2030, rising at a market growth of 6.2% CAGR during the forecast period.In the year 2022, the market attained a volume of 3,985.2 tonnes, experiencing a growth of 3.2% (2019-2022).
The increasing demand for lutein as a health supplement and its use as a natural colorant in food products. Therefore, Food Segment acquired $59.2 million in the market in 2022. The market is being driven by increased expenditure on superior lutein products due to rising consumer awareness of the advantages of consuming it and a rise in the proportion of health-conscious consumers. It protects both the skin's suppleness & moisture content. It has anti-inflammatory properties and is primarily found in plants & vegetables with green, leafy foliage. The rise in its demand can be related to the rise in health issues brought on by poor diet and people's contemporary lifestyles. Some factors impacting the market are increased traction on medical applications of lutein, growing ageing population, and adverse effects of high lutein dosage.
Animal feed, medicines, human food, cosmetics, and dietary supplements are just a few industries where lutein is used. Many people still lack an abundance of knowledge about the medical uses of lutein. Pharmaceutical companies have an opportunity to create goods that satisfy this need by targeting cognitive health with lutein-based supplements and formulations. As a result, it has a lot of potential in the pharmaceutical sector. The market will grow as people become more aware of its potential medical uses. A rise in the number of elderly persons globally is expected to boost demand for dietary supplements based on lutein during the projected period. As people age, illnesses and ailments like joint pain, poor vision, and bone brittleness become more prevalent. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). As a result, the senior population segment is growing, which will increase the demand for dietary supplements based on lutein from this group of people. This will fuel the worldwide market's expansion throughout the forecast period.
However, according to the publication "Oxidants and Antioxidants in Medical Science, 2022," which focuses on the function of antioxidants in healthcare, the possible hazards and side effects of its supplementation are highlighted, especially for people with specific health issues or individuals consuming medications. Customers hesitant to buy lutein supplements may be persuaded to look for lutein in natural food sources instead due to a lack of faith in the supplements' quality. As a result, the market is expected to increase slowly throughout the forecast period.
Based on form, the market is fragmented into powder & crystalline, oil suspension, beadlet, and emulsion. In 2022, the powder & crystalline segment witnessed the largest revenue share in the market. Compared to other forms, lutein in powder and crystals is comparatively simple to produce. It is easily combined and capsuled, making for simple production procedures. Due to lower manufacturing complexity and expenses, its simplicity in formulation may help explain its higher demand. Lutein can be used in various ways because of its crystalline and powder forms, which are easily combined. Due to its versatility, it is ideally suited for a wide variety of goods, such as beverages, functional meals, and nutritional supplements.
On the basis of application, the market is classified into food, beverages, dietary supplements, animal feed, and other applications. In 2022, the dietary supplements segment held the highest revenue share in the market. Over the next few years, consumer demand for nutritional supplements will skyrocket. Fruits & vegetables are colored yellow by the antioxidant carotenoid lutein, making it a part of the market for carotenoids. A healthy diet may influence good vision. Poor nutrition could worsen eyesight as people age. Dietary supplements containing essential minerals, vitamins, and fatty acids help people stay healthy and avoid dangerous diseases. Due to these advantages, lutein use as a dietary supplement is increasing, fueling the market’s growth.
By source, the market is segmented into natural and synthetic. The natural segment acquired a substantial revenue share in the market in 2022. Natural lutein derived from plants such as marigold flowers can be seen as a more appealing alternative to natural and plant-based supplements. Customers want ingredient clarity as their preference for clean-label products rises. Natural lutein may meet this demand, which can be advertised as a healthy substance that hasn't undergone any chemical alterations.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 332.9 Million |
| Market size forecast in 2030 | USD 531.6 Million |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.2% from 2023 to 2030 |
| Number of Pages | 325 |
| Number of Table | 630 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Thousand, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Form, Source, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the largest revenue share. The Asia Pacific, notably nations like China and India, has a significant agricultural sector and climatic conditions for growing lutein-rich sources such as marigold flowers. As a result, lutein can be supplied consistently, sustaining Asia Pacific's status as a significant producer and supplying a trustworthy source for the substance. Significant investments have been made in Asia Pacific's dietary supplement and nutraceutical businesses. Vendors in the region are aggressively concentrating on product innovation, R&D, and marketing to satisfy the growing demand for lutein along with related products.
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include BASF SE, Kemin Industries, Inc., E.I.D. Parry Limited (Murugappa Group), Merck KGaA, Piveg, Inc., Synthite Industries Pvt. Ltd., Dohler GmbH, Sabinsa Corporation (Sami-Sabinsa Group Ltd.), Fenchem Biotek Ltd., and India Glycols Limited
Free Valuable Insights: Global Lutein Market size to reach USD 531.6 Million by 2030
By Form
By Source(Volume, Tonnes, USD Thousand, 2019-2030)
By Application(Volume, Tonnes, USD Thousand, 2019-2030)
By Geography(Volume, Tonnes, USD Thousand, 2019-2030)
The Market size is projected to reach USD 531.6 million by 2030.
Growing ageing population are driving the Market in coming years, however, Adverse effects of high lutein dosage restraints the growth of the Market.
BASF SE, Kemin Industries, Inc., E.I.D. Parry Limited (Murugappa Group), Merck KGaA, Piveg, Inc., Synthite Industries Pvt. Ltd., Dohler GmbH, Sabinsa Corporation (Sami-Sabinsa Group Ltd.), Fenchem Biotek Ltd., and India Glycols Limited
In the year 2022, the market attained a volume of 3,985.2 tonnes, experiencing a growth of 3.2% (2019-2022).
The Synthetic segment is leading the Market by Source in 2022; thereby, achieving a market value of $280.0 Million by 2030.
The Asia Pacific region dominated the Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $194.3 Million by 2030.
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