Lutein is one of the major types of carotenoid, which is related to vitamin A. It is a yellow pigment that has been proved by various studies to preserve eye health and reduce the risk of macular degeneration and cataracts. These benefits led to increased consumption of lutein in various applications such as food products, supplements, cosmetics, and animal feed. Egg yolks, broccoli, spinach, kale, maize, orange pepper, kiwi fruit, grapes, zucchini, orange juice, and squash are the commonly available sources of lutein. With changing lifestyles and increasing risks of age-related macular degeneration and cataracts, the demand for lutein is likely to grow.
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.
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 the American Academy of Ophthalmology, cataracts affect more than 24.4 million Americans age 40 and older, every year. 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, lutein supplements have been recommended by various optometrists in America, in the wake of the growing vision impairment cases.
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.
