Market Snapshot
| Study Period: | 2016 - 2026 |
| Base Year: | 2020 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Europe |
| CAGR: | 5.4 % |
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Market Overview
The global lutein market is growing at a CAGR of 5.4% during the forecast period (2019-2024).
- This market is mainly driven by the increasing demand for diet supplements especially for eye care as it acts as an antioxidant and supports the functioning of the eye to promote healthy vision and other health issues such as diabetes, heart problems. In addition, favoring governmental initiatives boot the growth of the market.
- For instance, in Australia, lutein supplements are listed medicines on the Australian Register of Therapeutic Goods and therefore claim to be safe for consumption and in New-Zealand, these are approved as nutritive substances that are permitted to be added in infant and follow-on formulas.
- In 2016, the United States Patent and Trademark Office issued patent approval to Kemin Industries for the role of its lutein product- FloraGLO & ZeaONE Zeaxanthin (distributed by DSM as OPTISHARP Natural), in protecting individuals with three common ocular disorders from blue light or light-induced damage.
- On a segmentation front by application, the dietary supplements sector accounts for the largest share owing to the health benefits it provides.
- However, the side effects of lutein supplements such as hives, rash, stomach cramps, and facial swelling are restraining the market growth.
Scope of the Report
The global lutein market has been segmented by application which includes food & beverage, dietary supplements, pharmaceuticals, animal feed, and others). By geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the world.
| By Application | |
| Food & Beverage | |
| Dietary supplements | |
| Pharmaceuticals | |
| Animal feed | |
| Others |
| Geography | |||||||||
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Key Market Trends
Increased consumption of dietary supplements
The demand for the use of antioxidants is increasing in recent years owing to the effect of lutein as an antioxidant in bakery products that have found to be effective in enhancing the shelf life of the baked goods. Although, natural antioxidants are found to be effective in enhancing the shelf life of bakery products but still could not reach the extent of synthetic antioxidants. Also, with the increasing internet penetration, the online market for the purchase of dietary supplements has seen rapid growth globally in the last 3-4 years. This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour, etc. who are riding on increasing e-retailing growth and vying for a significant pie in online supplements space.
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Asia-Pacific is the fastest growing region
Asia-Pacific is expected to be the fastest growing lutein market during the forecast period, owing to the economic growth, which has led to an increase in urbanization and rapid industrialization and subsequent growth in the consumer markets of nations like China, India, etc. North America is also expected to witness relatively high growth in the global lutein market, owing to ophthalmic industry growth in the region, especially the United States.
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Competitive Landscape
The global market for the lutein market is fragmented, owing to the presence of large regional and domestic players in different countries. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. The key players involved in the lutein market are Kemin Industries, Inc., BASF SE, Chr. Hansen Holding A/S, Allied Biotech Corporation and OmniActive Health Technologies.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Application
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5.1.1 Food & Beverage
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5.1.2 Dietary supplements
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5.1.3 Pharmaceuticals
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5.1.4 Animal feed
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5.1.5 Others
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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5.2.1.4 Rest of North America
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5.2.2 Europe
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5.2.2.1 Spain
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5.2.2.2 United Kingdom
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5.2.2.3 Germany
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5.2.2.4 France
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5.2.2.5 Italy
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5.2.2.6 Russia
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5.2.2.7 Rest of Europe
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5.2.3 Asia Pacific
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5.2.3.1 China
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5.2.3.2 Japan
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5.2.3.3 India
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5.2.3.4 Australia
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5.2.3.5 Rest of Asia-Pacific
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5.2.4 Rest of the World
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5.2.4.1 South America
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5.2.4.2 Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Kemin Industries, Inc.
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6.4.2 BASF SE
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6.4.3 Chr. Hansen Holding A/S
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6.4.4 Allied Biotech Corporation
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6.4.5 OmniActive Health Technologies
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6.4.6 PIVEG, Inc.
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6.4.7 Industrial Organica S.A. de C.V.
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6.4.8 Lycored Corp.
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6.4.9 Divi's Laboratories Ltd.
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6.4.10 Katra Phytochem Pvt ltd.
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Lutein Market market is studied from 2016 - 2026.
What is the growth rate of Lutein Market?
The Lutein Market is growing at a CAGR of 5.4% over the next 5 years.
Which region has highest growth rate in Lutein Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Lutein Market?
Europe holds highest share in 2020.
Who are the key players in Lutein Market?
Kemin Industries, Inc., BASF SE, Chr. Hansen Holding A/S, Allied Biotech Corporation, OmniActive Health Technologies are the major companies operating in Lutein Market.
