Lutein market is segmented by application and by Geography. The major application of Lutein is in pharmaceuticals and it has a prominent market in the pharma industry.
The global market size of Lutein in pharma industry by 2020 was approximately USD 295 million and by volume it was approximately 16869 MT, According to the study, Lutein projected growth rate at nearly 7.9% globally for the next 3 years in the pharmaceutical industry.
Asian market size of Lutein in 2020 was approximately USD 243 million by value and 11071 MT by volume in the pharma industry. Lutein projected to grow with a CAGR of nearly 10.9% over the forecast period.
Total number of consumers of Lutein globally is 231 across 50 countries. When it comes to the manufacturers of Lutein, top companies are: Guangzhou Leader Bio-Tech, BASF, Yunnan Rainbow Bio-Tech, Chr. Hansen and Kemin Industries.
Lutein: An important nutrient
Lutein is a type of carotenoid antioxidant that is well-known for protecting the health of eyes. It is present in brightly colored fruits & vegetables, including Kale, Turnip Greens, Collard Greens, Spinach, Broccoli, Brussels sprouts, Corn, Green Beans, Eggs, Oranges, and Papayas.
Human body, on its own, cannot synthesize lutein or other vision boosting antioxidants like, Zeaxanthin, as a result, these nutrients must be obtained via diet. Out of 600 carotenoids present in nature, Lutein & Zeaxanthin are the ones that body transfers to the macular portion of the eyes, where they fight free radical damage, which can lead to macular degeneration & cataracts.
Market Strength: Benefits of Lutein
Protects Against Eye Disorders
Lutein selectively filters out damaging UV lights that affects the delicate parts of the eyes, such as the retina (macula). It has been shown to improve vision in those who are already suffering from cataract.
Helps Protect Skin Health
As it protects the eyes from UV rays, it also protects the skin from them, which can result in early aging or even skin cancer.
Help in Lowering the Risk of Diabetes
High levels of lutein in the blood controls blood sugar, which helps to minimize risk for diabetes.
Might Help Lower Risk of cancer
Lutein may also help in reducing the risk of cancer because the foods rich in Lutein provide other beneficial antioxidants as well that may lower the risk of getting cancer.
Can Help Maintain Heart Health
As lutein have anti-inflammatory & antioxidant properties, it can be beneficial for heart. It lowers inflammation, which is main cause of coronary heart disease.
Scope of Lutein
Based on Applications:
- Coloring Agent in foods
- Food & Dietary Supplements
- Specialty Supplements
- Eye Care
Based on Source:
Based on Forms:
- Oil Suspension
SWOT Analysis of Lutein
- Emerging market in pharmaceutical industry.
- Wide array of applications.
- Less competition in North America and Europe.
- Saturated market in Asian and Pacific region.
- The supply chain is highly concentrated to China, Japan, and India.
- It has a wide variety of application.
- Lutein has fewer manufacturers in other countries apart from APAC region, so opportunities in those countries are high.
- Due to high number of manufacturers in APAC region, the competition in these countries is very high.