Global Lutein Market 2018-2022: Growth in New Application Areas for the $350+ Million Industry

DUBLIN, June 4, 2018 /PRNewswire/ --

The "Lutein Market by Form (Powder & Crystalline, Oil Suspension, Beadlet, Emulsion), Source (Natural, Synthetic), Application (Food, Beverages, Dietary Supplements, Animal Feed), Production Process, and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The lutein market is estimated to reach USD 263.8 Million by 2017 and is projected to reach USD 357.7 Million by 2022, at a CAGR of 6.3% from 2017.

In terms of volume, the market is projected to reach 2,121.2 tons by 2022. The lutein market has been largely driven by the growing demand for lutein in the dietary supplements market. Lutein is mainly used for preventing eye diseases such as AMD and cataract. Companies are currently focusing on the application of lutein in food and beverages, as well as personal care products.

The dietary supplements segment is estimated to dominate the lutein market through the forecast period. Dietary supplements is an important segment of the lutein market as lutein is mainly associated with eye health and is increasingly used as an ingredient in eye health supplements. Many reports and researchers are highlighting eye health benefits with the consumption of lutein, such as reduction of risk or slower progression of eye diseases such as age-related macular diseases (AMD) and cataract.

The synthetic segment is estimated to dominate the lutein market in terms of value, as the synthetic production of lutein is more economical for the manufacturers. However, the growing awareness about the benefits of natural lutein and increased health consciousness among the people is leading to increased spending on high-quality products, owing to which the market for natural lutein is projected to grow at a higher CAGR over the next five years.

The European region dominated the lutein market in 2016 and is projected to grow at a moderate CAGR from 2017 to 2022, in terms of both value and volume. The presence of leading lutein manufacturers who operate on a global level and the stringent norms related to the use of synthetic ingredients laid down by the EU drive the demand for naturally source lutein in the region. Thus, the use of lutein for human consumption has recently started developing due to the increasing awareness about the advantages of carotenoid consumption. This increased use of lutein in pharmaceuticals, animal feed, medicine, and human food drives the growth of the lutein market in Europe.

In the Asia Pacific region, India is projected to be the fastest-growing market. The changing lifestyle and preferences, increasing awareness regarding the benefits of lutein, the growth of the health-conscious population, higher disposable incomes, and growth of the middle-class population are some of the factors driving the growth of the lutein market in India. India has a varied agricultural climate, relatively inexpensive labor, and according to the FAOSTAT, it has the second-largest population in the world. Some of the major producers of lutein in India include Synthite Industries (India), OmniActive (India), and E.I.D. Parry (India) that serve lutein products in the form of oil suspensions, beadlets, powder, and paste for use in human health supplements and animal nutrition.

The beadlet and emulsion form segments are expected to witness high growth during the forecast period. The growth can be attributed to the growing novel compounding techniques and microencapsulated techniques to improve the stability, solubility, and bioavailability of lutein. With the rising technological advancements, manufacturers in the lutein industry are now focusing on a broader field of applications.

The lutein market is concentrated, with leading companies driving market growth. The report provides qualitative analysis of the prominent market players and their preferred development strategies.

Key players such as BASF (Germany), Chr. Hansen (Denmark), E.I.D. Parry (India), Kemin (US), OmniActive (India), and Zhejiang Medicine (China) have been profiled in the report. These leading players have adopted various strategies such as expansions, acquisitions, new product launches, and joint ventures/partnerships/collaborations to explore new and untapped markets, expanding in local areas of emerging markets, and developing a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios.

Small-scale players have also adopted these strategies to expand their businesses globally by investing in the establishment of manufacturing facilities and technical service centers in various regions. This inorganic growth strategy enables them to improve their technical expertise through intensive R&D infrastructure offered by bigger players.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Lutein Market
4.2 Market for Lutein, By Form & Region
4.3 Lutein Market in Asia Pacific, By Form & Country
4.4 Lutein Market: Major Countries
4.5 European Market for Lutein, By Form

5 Market Overview
5.1 Introduction
5.2 Macro-Economic Factors
5.2.1 Rise in Population
5.2.1.1 Rise in Middle-Class Population
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increase in Scope of Application
5.3.1.2 Preventive Healthcare and Nutraceuticals
5.3.1.3 Rise in Demand for Natural Colorants
5.3.1.4 Growth in Pork, Poultry, and Aquaculture Industries
5.3.2 Restraints
5.3.2.1 Harmful Effects of High Doses of Lutein
5.3.2.2 Stringent Regulatory and Approval Norms
5.3.2.3 Lack of R&D Activities in African and Middle Eastern Countries
5.3.3 Opportunities
5.3.3.1 Growth in New Application Areas
5.3.3.2 Awareness About the Medicinal Applications of Lutein
5.3.4 Challenges
5.3.4.1 Maturity of the Dietary Supplement Application
5.3.4.2 Low Cost-Competitiveness From Asian Countries

6 Lutein Market, By Form
6.1 Introduction
6.2 Powder & Crystalline
6.3 Oil Suspension
6.4 Beadlet
6.5 Emulsion

7 Lutein Market, By Source
7.1 Introduction
7.2 Natural
7.3 Synthetic

8 Lutein Market, By Application
8.1 Introduction
8.2 Food
8.2.1 Bakery & Confectionery Products
8.2.2 Infant Formula & Formulated Supplementary Food Products
8.2.3 Dairy Products
8.2.4 Others
8.3 Beverages
8.3.1 Aerated & Carbonated Drinks
8.3.2 Rtd Beverages
8.3.3 Sports & Energy Drinks
8.3.4 Juice Concentrates & Fruit Juices
8.3.5 Others
8.4 Dietary Supplements
8.5 Animal Feed
8.6 Other Applications
8.6.1 Pharmaceuticals
8.6.2 Personal Care Products

9 Lutein Market, By Production Process
9.1 Introduction
9.2 Chemical Synthesis
9.3 Extraction From Botanical Material
9.4 Fermentation
9.5 Algae Route

10 Lutein Market, By Region

11 Competitive Landscape
11.1 Overview
11.2 Ranking Analysis of Key Players in the Lutein Market
11.3 Competitive Scenario
11.3.1 Expansions
11.3.2 Acquisitions
11.3.3 Joint Ventures, Partnerships, Collaborations, and Agreements
11.3.4 New Product Launches

12 Company Profiles
12.1 BASF
12.2 Chr. Hansen
12.3 E.I.D. Parry
12.4 Kemin
12.5 Zhejiang Medicine
12.6 Omniactive Health Technologies
12.7 Piveg
12.8 DDW the Colour House
12.9 Dhler
12.10 Allied Biotech
12.11 Synthite Industries
12.12 Lycored
12.13 Fenchem

For more information about this report visit https://www.researchandmarkets.com/research/rhkmrk/global_lutein?w=5

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