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Lutein Market Demand Trends Size Overview Analysis 2022-2029

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Lutein Market Demand Trends Size Overview Analysis 2022-2029

February 24
01:12 2023
Lutein Market Demand Trends Size Overview Analysis 2022-2029
DataM Intelligence
Lutein Market is estimated to reach at a high CAGR of 5.8% during the forecast period 2022-2029.

Lutein Market Dynamics:

Rising awareness in people regarding role of lutein in prevention of eye diseases driving the growth of the market

With rising utilization of mobile phones, computers and other electronic displays, the incidence of ocular disorders has been significantly rising globally. Prolonged exposure to these devices are increasing risk of various eye health issues including dry eye and irritation, macular degeneration and several other issues commonly termed as computer vision syndrome. Thus, people are getting more conscious towards their vision leading to high addressable market for eye health related products. The importance of lutein in preventing eye disease has been highlighted in many studies in order to reduce the growing vision impairment cases. Moreover, awareness campaigns like “Save Our Sights” which was led by New Zealand optometrists association to highlight the importance of having lutein in their diets. Such initiatives led by organizations and government is propelling the growth of the market. Moreover, the demand for lutein-based products is further expected to increase with growing health conscious millennial consumers. Countries with high cataract or vitamin A deficiency cases can serve as an opportunity for the lutein market.

 

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Lutein Market Segments:

Lutein supplements are leading owing to their role in treating vision impairments

Lutein is commonly being taken in the form of supplements these days, as demand for convenience food is increasing, owing to the busy lifestyle of people. Lutein supplements are commonly taken for eye related issues which include cataract and AMD. According to a research, people who take lutein supplements for eyes have 30% lower risk of getting affected with cataracts. Moreover, several studies have also suggested that lutein supplements improve the ability to detect contrasts between colors and intensities, which is supporting its demand in the global market. In addition, the beneficial roles played by lutein supplements in lowering the blood concentrations of inflammatory cytokines, is another supporting factor for its growth.

 

Lutein Market Geographical Penetration:

North America dominates the global lutein market due to the prevalence of huge vision impairment cases

North America holds the largest share of the market with United States being its major contributor. As United States holds the largest vision impaired population, the demand for lutein supplements is high in this country. According to American Academy of Ophthalmology, cataracts affect more than 24.4 million Americans age 40 and older, every years. By age 75, approximately half of all Americans have cataracts. While, Nearly 2.1 million Americans age 50 and older have late AMD, which can lead to severe vision impairment. Hence, lutien supplements have been recommended by various optometrists in America, in the wake of the growing vision impairment cases.

 

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Lutein Market Competitive Landscape:

The global lutein market is highly consolidated with key players like BASF SE, Chr. Hansen, E.I.D. Parry, Kemin Industries, Zhejiang Medicine, Dohler, Lycored, PIVEG, Allied Biotech Corporation and FENCHEM, which are pioneers in providing vitamin rich supplements. These companies have their game play by finsing innovative solutions to provide consumers with lutein. For instance, BASF recently announced the launch of its lutein ester Bright-eye tablet to increase the optical density of macular pigment.

 

COVID-19 Impact:

Pandemic had a positive impact on global lutein market

As the covid-19 outbreak resulted in lockdown in major parts of the globe, which had a significant effect on supply chain, production and transportation of goods. But the lutein market was seen to be booming during this period, due to the fact that the shutdown of offices during this period, resulted in work from home culture. This resulted in people spending extended hours on computer screens. Hence, people were seen to be consuming lutein supplements as a precautionary measure for their eye sight during the pandemic. The market was seen to be highly in rise in countries like the United States which is recorded to have highest number of cataract cases.

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