Lutein Market by Form (Powder & Crystalline, Oil Suspension, Beadlet, Emulsion), Source (Synthetic, Natural), Application (Dietary Supplements, Animal Feed, Food, Beverages,), Production Process and Region - Global Forecast to 2028

Northbrook, IL 60062 -- (SBWire) -- 07/05/2023 --The global lutein market is expected to grow at a CAGR of 5.6% during the forecast period from 2023 to 2028. The market was valued at USD 371 million in 2023 and is projected to reach USD 488 million by 2028. The demand for lutein is driven by both the pharmaceutical and nutraceutical industries.

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In the pharmaceutical sector, lutein is used in the production of eye health supplements and medications. It is a popular ingredient due to its effectiveness in maintaining healthy vision. The nutraceutical sector also contributes to the market growth as lutein is included in various dietary supplements and functional foods that promote eye health. Nutraceutical products are designed to provide health benefits beyond basic nutrition, and lutein is often added to enhance their nutritional value.

The powdered form of lutein accounted for the largest market share in 2023. Powdered lutein offers versatility in applications and can be easily blended with other ingredients, making it suitable for a wide range of products. Crystalline lutein, on the other hand, is preferred for specialized applications such as the production of lutein esters, which require higher purity.

Beverage products are expected to have the highest growth rate in the lutein market. Lutein-fortified functional beverages, including juices, smoothies, and nutritional drinks, are gaining popularity due to their antioxidant properties and eye health benefits. Lutein also serves as a natural colorant in beverages, catering to the growing demand for clean labels and natural ingredients.

The Asia Pacific region dominated the global lutein market in 2023. Countries like China and India have well-established agricultural sectors and supply chain infrastructure, enabling them to cultivate lutein-rich crops and meet the increasing demand. Their production capabilities and efficient supply chain networks give them a competitive advantage in the market.

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Key players in the market are focusing on new deals and product launches to expand their market presence. For instance, Kemin Industries, Inc. has expanded its distribution agreement with DKSH to include distribution for Kemin Food Technologies - Asia in the Philippines and Indonesia.

Overall, the lutein market is experiencing significant growth driven by the pharmaceutical and nutraceutical industries, with powdered lutein and beverage products showing strong market potential. The Asia Pacific region remains a key player in the market due to its agricultural capabilities and supply chain infrastructure.

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