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Lutein Market size is projected to experience a healthy growth during 2023 to 2032, credited to its vital use in eye health supplements. Lutein is an antioxidant carotenoid that offers yellow color to fruits and vegetables. Consumption of lutein in adequate quantity can help improve eyesight. Increasing health concerns across countries like the U.S. may drive the market demand.
Although potential side effects associated with the consumption of lutein supplements could hamper market development through 2032. Lutein supplements can cause issues like stomach cramps, rash, hives, breathing problems, and facial swelling. A high dosage of lutein can cause yellowing of the skin. Due to this, the product is not currently permitted as a nutritive substance in infant formula which could reduce industry profitability.
North America is estimated to account for a major share of the global lutein market by 2032. The region holds the presence of a growing ophthalmology sector. A large portion of the population is currently experiencing eye-related disorders in the U.S. To illustrate, a CDC report states that around 12 million people in the United States aged over 40 years have vision impairment. Intake of eye health supplements is expected to increase with rising cases of such disorders. Hectic urban lifestyle and lack of consumption of a balanced diet have resulted in increasing health issues such as obesity, stroke, and diabetes, driving market development across the US.
Global lutein market size from the human nutrition segment is set to procure commendable growth through 2032, in view of rising eye-related diseases such as glaucoma, age-related macular degeneration (AMD) cataracts, and diabetic retinopathy. According to 2021 estimates, chronic eye disorder AMD accounted for 54% of blindness cases in the U.S. A rise in the intake of supplements to protect from the negative effects of computer display light exposure could foster the industry demand.
Lutein market size in food and pharmaceutical application may augment over the forecast period, on account of the usage of canthaxanthin and astaxanthin usage in aquaculture for salmonid and crustaceans. Xanthophylls are oxygenated carotenoids present in the human food supply. Consumption of these products can lead to a reduction in health concerns such as cardiovascular disease, cancer, cataract, and AMD.
Lutein also finds application in dairy and egg products that are popular for maintaining health and nutrition in the diet. Growing consumer preference towards the consumption of yogurt, cheese, and ice cream and growth in the dairy sector across APAC and LATAM may boost the industry growth. An increase in dairy consumption supported by technological innovation and improvement in the production process may favor the industry outlook.
Mounting health concerns among consumers owing to changes in food intake habits may drive the market in the nutraceutical sector. Nutraceutical ingredients are food that stimulates health benefits, including prevention and treatment of various chronic diseases.
Prominent participants operating across the lutein market include BASF, Chr. Hansen, DSM, Shaanxi, Tianjin Pharmaland, Allied Biotech Corporation, Kemin, Anhui Ruisen, Microbo and Phyto Nutraceutical. New product launches by these firms would offer a boost the market development In September 2021, BASF announced that it will participate at Health Ingredients Japan (HIJ) 2021 where the company will showcase its Eye-care Lutein Gummy that is developed for consumers looking to maintain their eye health at a time of heavier reliance on digital devices.
Although Russia and Ukraine account for less than 2% of the global GDP, some sectors across these economies have already taken a hit due to the war. With aspects like inflation, supply chain, and trade movement difficulties already affecting the global economy, businesses in the market could also face the heat over time. For instance, the optical business in the US is facing the aftereffects of the crisis with many vision care firms looking to mitigate the effects by ceasing operations in Russia.