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Lutein Market Size

Report ID: GMI752
Published Date: Aug 2023
Report Format: PDF

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Lutein Market Size

Lutein Market size was valued at USD 381.1 million in 2023 and is estimated to register 6% CAGR from 2024 to 2032 driven by Increasing awareness of the importance of maintaining good vision and preventing age-related eye conditions.

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Increased exposure to digital devices like smartphones, computers, and tablets has led to concerns about digital eye strain and blue light exposure. Lutein's potential to filter blue light has driven interest in its consumption.

Lutein Market Report Attributes
Report Attribute	Details
Base Year:	2023
Lutein Market Size in 2023:	USD 381.11 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6%
2032 Value Projection:	USD 630.3 Million
Historical Data for:	2018to 2023
No. of Pages:	150
Tables, Charts & Figures:	191
Segments covered:	Source, Form, Application, Region
Growth Drivers:	Increasing applications in eye treatment Growing aged population Growing digital devices industry
Pitfalls & Challenges:	Price fluctuations Ingredient Sourcing and Quality Challenges Formulation Challenges

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Factors such as supply-demand imbalances, crop yield variations, and currency fluctuations can lead to price volatility for lutein-derived ingredients. Ensuring a consistent and high-quality source of lutein, often derived from marigold flowers, can be challenging due to factors like weather conditions and agricultural practices. Incorporating lutein into various products while maintaining its stability and bioavailability can present formulation difficulties for manufacturers. Thus, the risks associated with lutein may drive down the acceptance rate, further hampering the lutein market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size for lutein was exceeded USD 381.1 million in 2023 and is estimated to reach more than USD 630.3 million by 2032, as the product is known for its role in supporting eye health, particularly in protecting the retina from harmful blue light and oxidative stress.

Powdered lutein segment held around 40% of the market share in 2022 and is expected to grow at a lucrative pace through 2032. Powdered forms enable flexibility in dosage adjustment and incorporation into different products, catering to personalized nutrition.

U.S. lutein industry was worth over USD 84 million in 2022 and is anticipated to expand at a significant pace from 2023-2032, backed by the aging demographic that drives the demand for lutein due to its association with supporting eye health, particularly in older adults.

BASF SE, India Glycols Limited., Kemin Industries, Inc., E.I.D. Parry Limited , Divi’s Laboratories, Merck KGaA, Piveg, Inc., Omniactive Health Technologies, Synthite Industries Ltd., Zhejiang Medicine Co., Ltd., Döhler Lycored, Allied Biotech Corporation, Sabinsa, FENCHEM among others.