Market Size of Lutein Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 364.71 Million |
| Market Size (2029) | USD 494.78 Million |
| CAGR (2024 - 2029) | 6.29 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Lutein Market Analysis
The Lutein Market size is estimated at USD 364.71 million in 2024, and is expected to reach USD 494.78 million by 2029, growing at a CAGR of 6.29% during the forecast period (2024-2029).
This market is mainly driven by the increasing demand for dietary 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, and heart problems. For instance, in Australia, lutein supplements are listed as 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.
Factors such as an increase in demand for lutein as a natural colorant in food and beverage applications and the use of lutein in animal feed additives are expected to drive the demand for this ingredient in various consumer markets. In addition, increasing government initiatives for diabetes and heart problems are considered to drive the product demand across the end users. Moreover, the sheer number of aged demographics thereby increasing vitamins and dietary supplement business across emerging economies is a factor augmenting the growth of the product. According to the United States VMHS Survey, dietary supplements for diabetes, heart problems, and other disease accounted for approximately 40% of the Lutein market. Moreover, demographics of more than 65 years of age accounted for approximately 36% in terms of unit consumption. In addition, increasing consumer awareness of preventative healthcare across the globe and the barrage of information available online is driving the product demand.
