NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Increasing demand for eye supplements, along with the growing prevalence of chronic health disorders such as diabetes, heart problems, obesity, and stroke, due to hectic lifestyles and lack of stable diet are key factors contributing to the high CAGR of Lutein during the forecast period.
According to the current analysis of Reports and Data, the global Lutein market was valued at USD 274.6 Million in 2018 and is expected to reach USD 454.8 Million by the year 2026, at a CAGR of 6.4 %. Lutein is an antioxidant carotenoid responsible for yellow colors of fruits and vegetables. It is one of the two major carotenoids found as a color pigment in the human eye. It acts as a light filter and protects the eye tissues from sunlight damage.
Healthy nutritional intake of lutein may help provide good eyesight. However, inadequate consumption may deplete eyesight with age. Dietary supplements include minerals, vitamins, and fatty acids that help consumers stay healthy and prevent harmful diseases. Increasing health concerns among the population are expected to support market growth. Rising demand for the product as a health supplement and its increasing usage as a natural colorant in food & beverage applications, along with its use as an additive for animal feed, are some factors that drive the demand for the product over the forecast years.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/2098
Europe held 36.2% of the industry in 2018 and is projected to grow significantly in the coming years. Presence of key manufacturers including BASF, Chr. Hansen, and Döhler in the region is forecasted to influence growth. High incidence of cataract and Age-related Macular Degeneration (AMD) in the region is also likely to drive demand. Based on the statistics published by the European Society of Retina Specialists, in 2017, AMD affected around 34 million people in the European Union and 22 million people in the five most populous European countries alone: Germany, France, the United Kingdom, Italy and Spain. Furthermore, the number of patients affected by AMD in the region is expected to rise by almost 25% based on population growth and ageing until 2050. This is anticipated to create lucrative growth opportunities for the product.
However, high consumption of lutein leads to yellowing of the skin. Moreover, lutein is not a legalized nutritive ingredient in the infant formula which restricts the growth of the industry.
Further key findings from the report suggest
- On the basis of source, synthetic lutein dominates the market as of 2018, as they are cost-effective and easy to manufacture.
- Lutein accumulates in the brain, and thus it is also found to have a prominent role in brain and memory support.
- Europe is expected to remain the dominant segment with a 36.2% market share. Owing to increasing awareness about the advantages of carotenoid consumption, lutein finds application in pharmaceuticals, animal feed, medicine, and human food.
- Asia Pacific is expected to account for 23.2% of the global market. Developing nations such as China and India are likely to witness high growth High prevalence of eye disorders coupled with the growing demand for dietary supplements is anticipated to stimulate demand.
- Emulsions are expected to witness the fastest growth at a CAGR of 6.8% during the forecast period. The development of microencapsulated techniques in order to improve the stability, solubility, and bioavailability of lutein drives the growth for this market segment.
- High dose of carotenoids such as lutein can cause carotenoderma - yellow discoloration of the skin
- Key participants include BASF, Chr. Hansen, E.I.D. Parry, Zhejiang Medicine, DDW The Color House among others. BASF is a German company that offers an extensive line of carotenoids primarily in North America, Europe, and Asia. The company's product line Xangold includes natural Lutein for dietary supplements, and food and beverage applications.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/lutein-market
Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the Lutein market on the basis of form, source, application, production process, and region:
Form (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Powder & Crystalline
- Oil Suspension
Source (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
Application (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Bakery & confectionery products
- Infant formula & formulated supplementary food products
- Dairy products
- Aerated & carbonated drinks
- RTD beverages
- Sports & energy drinks
- Juice concentrates & fruit juices
- Dietary Supplements
- Animal Feed
Production Process (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Chemical synthesis
- Extraction from botanical materials
- Algae route
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Browse more similar reports on Food Ingredients category by Reports And Data
Soy Protein Ingredients Market - https://www.reportsanddata.com/report-detail/soy-protein-ingredients-market
Protein Ingredients Market - https://www.reportsanddata.com/report-detail/protein-ingredients-market
Wheat Gluten Market - https://www.reportsanddata.com/report-detail/wheat-gluten-market
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
SOURCE Reports And Data