Selbyville, Delaware, Jan. 16, 2024 (GLOBE NEWSWIRE) --
The lutein market valuation is predicted to reach USD 630 million by 2032, as reported in a research study by Global Market Insights Inc.
The rising preventive healthcare trends among consumers globally is projected to drive the market growth. Lately, there has been increasing consumer awareness of the preventive health benefits associated with lutein, particularly its role in supporting eye health. With individuals embracing a proactive approach to well-being, the preference for lutein-rich dietary supplements and functional foods is rising.
Furthermore, several industry participants are investing in the introduction of novel products, such as lutein-fortified foods and advanced supplements for catering to the evolving consumer preferences for holistic well-being, augmenting the industry outlook. For instance, in February 2023, Herbalife Nutrition India entered the eye health sector with the launch of Ocular Defense, a scientifically formulated solution comprising lutein and zeaxanthin.
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Lutein market from the synthetic segment is set to witness high demand from 2024 to 2032, due to its widespread application in the food and dietary supplement industries due to its antioxidant properties. Given its cost-effectiveness and consistent quality, lutein is recording wide popularity as an alternative to naturally derived sources. Additionally, the increasing use of synthetic lutein for food coloring and fortification as well as the development of standardized formulations for addressing the rising demand for functional and nutritional products will contribute to the segment growth.
The lutein market from the pharmaceutical application segment is estimated to record substantial growth through 2032, attributed to the increasing use in vision-support supplements and medicines owing to its eye health benefits. Lutein contributes to ocular health, particularly in preventing age-related macular degeneration given its antioxidant and anti-inflammatory properties. With the growing aging population and the rising awareness of preventive healthcare, the demand for lutein in pharmaceutical applications will further surge, thereby boosting the market expansion.
Asia-Pacific lutein market is set to exhibit robust growth between 2024 and 2032 led to the increasing consumer focus on good health and nutrition. The burgeoning middle-class population in the region and the rising focus on preventive healthcare are contributing to the robust demand for lutein-rich products. Additionally, the incorporation of lutein in functional foods, dietary supplements, and pharmaceuticals for responding to the growing consumer preference for holistic well-being will further accelerate the regional market outlook.
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Some leading companies operating in the lutein market are India Glycols Limited, Merck KGaA, E.I.D. Parry Limited, Kemin Industries, Inc., Zhejiang Medicine Co., Ltd., Allied Biotech Corporation, Synthite Industries Ltd., BASF SE, Divi’s Laboratories, Omniactive Health Technologies, Dohler Lycored, and FENCHEM. These industry players are actively raising awareness to educate consumers about the health benefits of lutein through awareness initiatives. To cite an instance, in September 2023, OmniActive Health Technologies established the "Lutein for Every Age" Initiative to raise awareness about the importance of eye and brain health in children.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Lutein industry 360º synopsis, 2018 – 2032
2.2 Business trends
2.3 Source trends
2.4 Form trends
2.5 Application trends
2.6 Regional trends
Chapter 3 Lutein Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Industry pitfalls & challenges
3.3 Growth potential analysis
3.3.1 By source
3.3.2 By form
3.3.3 By application
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.7.1 Future market trends
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of Russia Ukraine war
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
