The "Lutein Market by Form (Powder & Crystalline, Oil Suspension, Beadlet, Emulsion), Source (Natural, Synthetic), Application (Food, Beverages, Dietary Supplements, Animal Feed), Production Process, and Region - Global Forecast to 2022" report has been added to Research and Markets' offering.

The lutein market is estimated to reach USD 263.8 Million by 2017 and is projected to reach USD 357.7 Million by 2022, at a CAGR of 6.3% from 2017. In terms of volume, the market is projected to reach 2,121.2 tons by 2022.

The lutein market has been largely driven by the growing demand for lutein in the dietary supplements market. Companies are currently focusing on the application of lutein in food and beverages, as well as personal care products.

The European region dominated the lutein market in 2016 and is projected to grow at a moderate CAGR from 2017 to 2022, in terms of both value and volume. The presence of leading lutein manufacturers who operate on a global level and the stringent norms related to the use of synthetic ingredients laid down by the EU drive the demand for naturally source lutein in the region. Thus, the use of lutein for human consumption has recently started developing due to the increasing awareness about the advantages of carotenoid consumption. This increased use of lutein in pharmaceuticals, animal feed, medicine, and human food drives the growth of the lutein market in Europe.

The lutein market is concentrated, with leading companies driving market growth. The report provides qualitative analysis of the prominent market players and their preferred development strategies. Key players such as BASF (Germany), Chr. Hansen (Denmark), E.I.D. Parry (India), Kemin (US), OmniActive (India), and Zhejiang Medicine (China) have been profiled in the report. These leading players have adopted various strategies such as expansions, acquisitions, new product launches, and joint ventures/partnerships/collaborations to explore new and untapped markets, expanding in local areas of emerging markets, and developing a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by gaining a larger share in terms of revenue and product portfolios.

Small-scale players have also adopted these strategies to expand their businesses globally by investing in the establishment of manufacturing facilities and technical service centers in various regions. This inorganic growth strategy enables them to improve their technical expertise through intensive R&D infrastructure offered by bigger players.

Market Dynamics

Drivers

  • Increase in Scope of Application
  • Preventive Healthcare and Nutraceuticals
  • Rise in Demand for Natural Colorants
  • Growth in Pork, Poultry, and Aquaculture Industries

Restraints

  • Harmful Effects of High Doses of Lutein
  • Stringent Regulatory and Approval Norms
  • Lack of R&D Activities in African and Middle Eastern Countries

Opportunities

  • Growth in New Application Areas
  • Awareness About the Medicinal Applications of Lutein

Challenges

  • Maturity of the Dietary Supplement Application
  • Low Cost-Competitiveness From Asian Countries

Company Profiles

  • Allied Biotech
  • BASF
  • Chr. Hansen
  • DDW the Colour House
  • Dhler
  • E.I.D. Parry
  • Fenchem
  • Kemin
  • Lycored
  • Omniactive Health Technologies
  • Piveg
  • Synthite Industries
  • Zhejiang Medicine

For more information about this report visit https://www.researchandmarkets.com/research/9g4mzt/global_lutein?w=4