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Forecast Period
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2024-2028
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Market Size (2022)
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USD 401.02 Million
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CAGR (2023-2028)
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5.16%
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Fastest Growing Segment
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Powder and Crystalline
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Largest Market
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Asia Pacific
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Market Overview
Global Lutein Market has valued at USD 401.02
Million in 2022 and is anticipated to project grow with a CAGR of 5.16% through
2028. Lutein is a prominent type of carotenoid, known for its association with
vitamin A. It serves as a yellow pigment that has been substantiated by
numerous studies for its ability to uphold eye health and mitigate the risk of
macular degeneration and cataracts. These advantageous properties have resulted
in heightened consumption of lutein across various sectors, including food
products, supplements, cosmetics, and animal feed. Commonly available sources
of lutein include egg yolks, broccoli, spinach, kale, maize, orange pepper,
kiwi fruit, grapes, zucchini, orange juice, and squash. With evolving
lifestyles and escalating susceptibility to age-related macular degeneration
and cataracts, the demand for lutein is expected to surge.
Key Market Drivers
Increasing
Demand of Lutein in Cosmetic Industry
The growth of the lutein market can be
attributed to the increasing demand for dietary supplements, the prevalence of
age-related macular degeneration (AMD), and the adoption of lutein in the
cosmetic industry. In recent years, there has been a significant rise in the
demand for nutraceuticals and dietary supplements. As more individuals in
developed and developing countries become aware of the benefits of organic
nutraceuticals, the adoption of these products has increased. Furthermore, the
sales of nutraceuticals experienced an upturn during the COVID-19 pandemic.
According to data published by the National Center for Biotechnology
Information (NCBI), dietary supplement sales in the U.S. increased by 5% in
2019 compared to 2018. This increase can be primarily attributed to the shift
towards preventive therapies, as there was a high risk of contracting the
coronavirus when visiting hospitals. Consequently, hospital visits decreased
during the pandemic, and a significant population worldwide turned to nutraceuticals
for disease prevention and treatment. This trend also led to an increased
demand for lutein for the prevention of eye disorders such as cataracts and
age-related macular degeneration. Thus, the rise in nutraceutical sales also
contributed to the global increase in the sale of lutein products.
Rising
Cases of Skin Cancer
The rise in skin cancer cases attributed
to UV radiation has resulted in an increased demand for skin care products
containing lutein. Furthermore, lutein offers protection against the oxidative
and DNA-damaging effects of blue light. It is anticipated that heightened
absorption of blue light by the skin will stimulate melanin production,
resulting in skin tanning, aging, and the risk of skin cancer. Interestingly,
individuals who consume lutein experience a significant lightening of their
skin tone and an overall improvement in skin complexion, indicating a
subsequent reduction in melanin production. As a result, the application of
lutein contributes to the growth of the market.
Wide
Range of Application in Pharmaceutical Industry
Lutein is widely used in the formulation
of eye health supplements and nutraceuticals. These supplements are taken to
support and promote eye health, especially for individuals at risk of or
suffering from AMD or other vision-related conditions. Lutein's antioxidant
properties are believed to be beneficial for preventing and managing cataracts,
a common age-related eye condition. Pharmaceutical companies may investigate
the use of lutein in cataract treatments or as a preventative measure in eye
health formulations.
The pharmaceutical industry has been
exploring lutein's potential in the development of therapies for AMD. Research
suggests that lutein supplementation may help slow the progression of AMD and
reduce the risk of advanced AMD in individuals with early signs of the disease.
The demand for lutein in the pharmaceutical and nutraceutical industries is
increasing due to the aging population and the growing incidence of eye
conditions such as AMD and cataracts. The rising consumer awareness of
preventive healthcare and the significance of eye health are driving the demand
for lutein supplements to maintain optimal vision.
Potential
Use as A Natural Food Coloring Component
Lutein has shown good stability in
various food processing conditions, making it suitable for use in a wide range
of food applications. It can withstand heat, light, and pH changes, maintaining
its color during processing and storage. Lutein's natural yellow to
orange color can be utilized to add bright and appealing hues to food products.
It is commonly used in products such as sauces, beverages, dairy products,
confectionery, and baked goods to impart a natural yellow or orange color. The
utilization of lutein as a natural food coloring component in the food and
beverage industry is propelling market growth. With its inherent and reliable
coloring properties, lutein finds extensive application in various food and
beverage sectors, including dairy products, beverages, baked goods, and
confectionery. The increasing consumer demand for clean label and natural food
products is a key driver for the rising demand of lutein in the food and
beverage industry.
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Key Market Challenges
Side
Effects Associated with Lutein
One of the primary market limitations is
the adverse effects associated with consuming high doses of lutein. Adhering to
recommended dosage guidelines is crucial, and it is advisable to seek guidance
from healthcare professionals before considering high-dose supplementation.
Excessive lutein consumption can potentially lead to gastrointestinal
disorders, heightened oxidative stress, and in some cases, allergic reactions.
These factors significantly impede the market's growth trajectory.
Furthermore, the limited awareness and
knowledge surrounding lutein-based products and their benefits pose an
additional constraint on the expansion of the lutein market. Particularly, the
populace's lack of education regarding the role of lutein in promoting eye
health hinders widespread consumption of lutein-rich food products. This, in
turn, restricts the overall market demand.
Limited
Consumer Awareness
Despite the potential health benefits of
lutein, consumer awareness of this carotenoid and its applications may still be
relatively low. Educating consumers about the benefits of lutein and its
sources could be a challenge for companies looking to promote lutein-infused
products. The price of lutein can be subject to fluctuations due to factors
such as supply chain dynamics, agricultural conditions, and production costs.
Price volatility may impact the profitability of companies that rely heavily on
lutein as an ingredient.
Lutein is primarily extracted from
marigold flowers or synthesized from petrochemicals. Ensuring a stable and
reliable supply of high-quality lutein could be challenging, particularly
during times of supply chain disruptions or fluctuations in raw material
availability. However, there are certain challenges that may hinder the
market's growth for lutein. Regulatory factors, volatile prices of raw
materials, and limited availability of lutein-rich sources can all pose
obstacles to market expansion. Additionally, the presence of more affordable
alternatives and the need for extensive research and development in new lutein
applications may also present difficulties for industry stakeholders.
Key Market Trends
Growing
Preference of Organic products
The growing demand for natural
supplements presents a significant market opportunity. As consumers
increasingly prioritize their health, there is a preference for organic
products. Consequently, there is a rising demand for lutein in the food and
beverage as well as dietary supplement industries due to its natural
antioxidant properties as a pigment. The benefits of organic supplements, such
as lutein, in promoting eye health and overall well-being have propelled market
demand.
Furthermore, the emerging nutraceutical
industry offers a promising avenue for market growth. This industry focuses on
products that combine nutritional and pharmaceutical properties, with lutein
being a beneficial ingredient in such products. The advantages of lutein in
supporting eye and skin health make it a suitable component for nutraceutical
formulations, thereby driving demand in the lutein market.
Growing
Investment in R&D
With consumers increasingly seeking
natural and clean-label products, the demand for natural food colorants and
antioxidants like lutein has risen. As a naturally occurring carotenoid, lutein
fits well into the growing market for natural ingredients, prompting
investments in its production and incorporation into various food and beverage
products. Ongoing research and innovation in lutein extraction, purification,
and formulation have improved its availability and efficacy. Advancements in
technology and production processes may lead to increased investments in
lutein-related research and development.
The growing investments in research and
development present substantial growth prospects for the market. Ongoing
research to unveil the health benefits of lutein, such as in brain health and
cardiovascular health, is creating new opportunities, contributing to the
expansion of the market.
Segmental Insights
Application Insights
The lutein market is segmented
into various sectors, including food, beverages, dietary supplements, animal
feed, pharmaceuticals, and personal care products. The demand for lutein in the
pharmaceutical sector is expected to experience significant growth in the
coming years. Lutein extracts are widely utilized for the treatment of
age-related macular degeneration (AMD), the most prevalent cause of blindness
among adults. The industry is projected to witness growth driven by the
increasing incidence of other eye diseases such as cataracts, glaucoma, and
diabetic retinopathy over the forecast period.
Form
Type Insights
Based on different forms, the market is categorized powder and
crystalline, oil suspension, Beadlets, and emulsion. The Beadlets segment is
projected to experience significant growth due to the advancement of innovative
compounding processes and microencapsulated techniques, which enhance the
stability, solubility, and bioavailability of lutein. Additionally, the
emulsion segment is expected to exhibit rapid growth during the forecast
period, as it demonstrates physical stability across all incubation
temperatures.