Northbrook, IL -- (SBWire) -- 08/01/2019 --The Global Lutein market is projected to reach USD 357.7 million by 2022, at a CAGR of 6.3% from 2017 to 2022. The lutein market, over the past few years, has been largely driven by the growing demand of lutein for dietary supplements. There are increasing investments in the use of lutein in applications such as food and beverages; hence, the dietary supplements segment is projected to witness a comparatively low growth rate when compared to the food and beverages segments. Lutein mainly finds application in the personal care industry.

The increase in demand for lutein as a natural colorant in food and beverage applications, rise in demand for eye health supplements, and the use of lutein in animal feed additives are expected to drive the demand for this ingredient in various consumer markets. Lutein plays a vital role in preventing age-related macular degeneration (AMD) disease. The lutein market, over the past few years, has been largely driven by the growing demand health supplements that contain lutein. Eye health supplements that contain lutein help preventing/curing eye diseases such as AMD and cataract. However, currently, the manufacturers are increasingly inclined to invest in other end-use applications and hence the market for dietary supplements application is growing at a lower rate when compared to applications such as food and beverages.

Browse 93 market data Tables and 35 Figures spread through 124 Pages and in-depth TOC on "Lutein Market- Global Forecast to 2022"

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The years considered for the study are:
-Base year – 2016
-Estimated year – 2017
-Projected year – 2022
-Forecast period – 2017 to 2022

The dietary supplements segment expected to dominate the lutein market through 2022:
In 2016, the dietary supplements segment accounted for the largest share, by application, in the lutein market in terms of value and volume, as lutein is mainly associated with the eye health and is increasingly used as an ingredient in the eye health supplements.

Naturally sourced lutein is projected to be the faster-growing market during the forecast period:
The natural segment is projected to grow at a higher CAGR from 2017 to 2022. Growing awareness about the benefits of naturally obtained lutein and the increasing health conscious population leads to increased spending on high-quality lutein products, subsequently driving the market for naturally sourced lutein.

The emulsions segment is projected to be the fastest-growing segment in the lutein market from 2017 to 2022:
The demand for emulsion form of lutein is increasing around the globe, especially in developing countries such as China, India, and Brazil. Lutein emulsion is generally used in food and beverage applications and is currently used in cosmetics as well. Fortified food emulsion is widely used in the functional food segment wherein carotenoid-protein complex is used to prepare an emulsion. Leading players are gradually expanding their product range by developing lutein emulsion for the food industry. The emulsion segment is hence projected to be the fastest-growing segment in the lutein market from 2017 to 2022.

Asia Pacific is projected to be the fastest-growing regional market for lutein:
The Asia Pacific region is projected to be the fastest-growing market for lutein over the next five years, owing to increase in overall economic growth which has led to an increase in urbanization and rapid industrialization and subsequent growth in the consumer markets of China, India, Australia, and Japan.
In this region, countries such as India, China, and Japan hold a major share of more than 60% of the Asia Pacific lutein market. India is one of the fastest-growing markets for lutein in the Asia Pacific region. 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 lutein the market in India.

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On the basis of form, the lutein market is segmented into powder & crystalline, beadlet, oil suspension, and emulsion. The beadlet and emulsion segments are projected to grow at a high rate during the forecast period. This 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.

On the basis of application, the food and beverages segments are projected to be the fastest-growing segments in the lutein market over the next five years. The dietary supplements segment is estimated to dominate the market; this growth can be attributed to the rising demand for eye health supplements that contain lutein. The lutein market is facing a challenge in developed nations owing to the growing maturity of its usage in dietary supplements. However, the growing scientific evidence and studies about the benefits of lutein products are expected to provide a wide scope for the growth of new applications. The food and beverages segments are expected to register high CAGRs of 8.6% and 8.8%, respectively, during the forecast period. Growing studies about lutein and its application in new sectors such as nutrition and skin health are creating new opportunities for lutein in the industry.

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.

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