Lutein Market Size (2024 - 2029)

The Lutein Market is projected to experience significant growth over the forecast period, driven by the rising demand for dietary supplements, particularly for eye care and other health issues such as diabetes and heart problems. The market's expansion is further supported by the increasing use of lutein as a natural colorant in food and beverage applications and its incorporation in animal feed additives. Government initiatives targeting diabetes and heart conditions, along with the growing aged population in emerging economies, are also contributing to the market's growth. Additionally, heightened consumer awareness of preventative healthcare and the accessibility of information online are key factors driving the demand for lutein products.

Market Size of Lutein Industry

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Lutein Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 364.71 Million
Market Size (2029) USD 494.78 Million
CAGR (2024 - 2029) 6.29 %
Fastest Growing Market Asia Pacific
Largest Market Europe

Major Players

Lutein Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Lutein Market Analysis

The Lutein Market size is estimated at USD 364.71 million in 2024, and is expected to reach USD 494.78 million by 2029, growing at a CAGR of 6.29% during the forecast period (2024-2029).

This market is mainly driven by the increasing demand for dietary supplements especially for eye care as it acts as an antioxidant and supports the functioning of the eye to promote healthy vision and other health issues such as diabetes, and heart problems. For instance, in Australia, lutein supplements are listed as medicines on the Australian Register of Therapeutic Goods and therefore claim to be safe for consumption and in New Zealand, these are approved as nutritive substances that are permitted to be added in infant and follow-on formulas.

Factors such as an increase in demand for lutein as a natural colorant in food and beverage applications and the use of lutein in animal feed additives are expected to drive the demand for this ingredient in various consumer markets. In addition, increasing government initiatives for diabetes and heart problems are considered to drive the product demand across the end users. Moreover, the sheer number of aged demographics thereby increasing vitamins and dietary supplement business across emerging economies is a factor augmenting the growth of the product. According to the United States VMHS Survey, dietary supplements for diabetes, heart problems, and other disease accounted for approximately 40% of the Lutein market. Moreover, demographics of more than 65 years of age accounted for approximately 36% in terms of unit consumption. In addition, increasing consumer awareness of preventative healthcare across the globe and the barrage of information available online is driving the product demand.

Lutein Industry Segmentation

Lutein is a type of organic pigment called a carotenoid that occurs naturally in green plants and the fat of plant-eating animals, egg yolk, the corpus luteum, and the retina.

The lutein market is segmented into applications and geography. The application segment includes food and beverage, dietary supplements, pharmaceuticals, animal feed, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Application
Food and Beverage
Dietary Supplements
Pharmaceuticals
Animal Feed
Other Applications
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
Rest of the World
South America
Middle East and Africa
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Lutein Market Size Summary

The lutein market is experiencing significant growth, driven by increasing consumer demand for dietary supplements, particularly those aimed at supporting eye health. Lutein's role as an antioxidant and its benefits in promoting healthy vision are key factors propelling its market expansion. The market is further bolstered by the rising prevalence of eye conditions such as age-related macular degeneration and digital eye fatigue, which are becoming more common due to increased screen time. The growing awareness of preventative healthcare and the availability of information online are also contributing to the market's upward trajectory. Additionally, the use of lutein as a natural colorant in food and beverages, along with its application in animal feed additives, is expected to enhance its demand across various consumer segments.

The Asia-Pacific region is identified as the fastest-growing market for lutein, driven by economic growth, urbanization, and a rising health-conscious population in countries like China, India, and Japan. The region's robust pharmaceutical industry and the presence of key players such as Biomed Ingredients and India Glycols Limited further support market growth. The competitive landscape is marked by the presence of major companies like BASF SE and Kemin Industries, which are engaging in strategic mergers, acquisitions, and product innovations to strengthen their market position. The market is also witnessing technological advancements, with startups leveraging AI to discover plant-based ingredients for health applications. These dynamics, coupled with the increasing purchasing power and awareness of lutein's benefits, are expected to drive the market's expansion in the coming years.

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Lutein Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Application

      1. 2.1.1 Food and Beverage

      2. 2.1.2 Dietary Supplements

      3. 2.1.3 Pharmaceuticals

      4. 2.1.4 Animal Feed

      5. 2.1.5 Other Applications

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

        4. 2.2.1.4 Rest of North America

      2. 2.2.2 Europe

        1. 2.2.2.1 Spain

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 Germany

        4. 2.2.2.4 France

        5. 2.2.2.5 Italy

        6. 2.2.2.6 Russia

        7. 2.2.2.7 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 Australia

        5. 2.2.3.5 Rest of Asia-Pacific

      4. 2.2.4 Rest of the World

        1. 2.2.4.1 South America

        2. 2.2.4.2 Middle East and Africa

Lutein Market Size FAQs

The Lutein Market size is expected to reach USD 364.71 million in 2024 and grow at a CAGR of 6.29% to reach USD 494.78 million by 2029.

In 2024, the Lutein Market size is expected to reach USD 364.71 million.

Lutein Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)