Global Lutein Market: Overview
Macro-economic factors such as rising population across the world along with increasing middle-classs population are presently some of the key factors driving the global lutein market. The middle-class population is seen to pay heed to food and lifestyle choices to prevent health conditions in the long run. This includes use of nutraceuticals such as lutein that helps to reduce nutritional gaps needed to boost immunity.
Lutein is referred to as carotenoid vitamin is related to Vitamin A and beta-carotene.
Transparency Market Research’s upcoming research report on the global lutein market provides a quantitative and qualitative analysis of this market. The report delves into key aspects of the that could impact the growth of global lutein market over the forecast period. Growth rate projections and revenue share of key segments of the lutein market over the forecast period are some other key features of this report. The geographical spread of global lutein market and the degree of competition analysed in the report adds to the credibility of the report.
Global Lutein Market: Key trends
First and foremost, the increasing applications of lutein is driving the lutein market. Apart from nutraceuticals, lutein is extensively used in food. Food applications of lutein include bakery & confectionery products, dairy products, and infant formula among others.
Lutein finds application in beverages such as aerated and carbonated drinks, sports and energy drinks, juice concentrates, and fruit juices among others. Packaged and bottled beverages find extensive demand as thirst quenchers or for hydration. This is indirectly benefitting the lutein market.
Some other applications of lutein are for pharmaceuticals and personal care products. The growth of pharmaceutical sector, along with growth of the personal care products sector have aided the growth of global lutein market.
Lastly, growth of animal husbandry is stoking demand for lutein for animal feed applications. Manufacturers of animal feed are increasingly adding lutein in animal feed as a nutritional supplement.
Global Lutein Market: Geographical Analysis
The global lutein market could be segmented across five key regions, namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, North America and Europe hold key shares of the overall market. High degree of awareness to take nutraceuticals to fill nutritional gaps are some key factors aiding the lutein market in these regions.
However, Asia Pacific is likely to emerge as a key market for lutein in the forthcoming years. Due to rising disposable income and increasing awareness of nutritional supplements is driving the uptake of nutraceuticals such as lutein.
Latin America and the Middle East & Africa are likely to display moderate growth in the lutein market over the forecast period.
Global Lutein Market: Competitive Analysis
Key companies operating in the global lutein market include BASF, E.l.D. Parry, Zhejiang Medicine, Piveg, Dohler, Synthite Industries, Fenchem, Chr. Hansen, Kevin, Omniactive Health Technologies, DDW the Color House, Allied Biotech, and Lycored. Product innovation and improvement is the focus of key companies in the global lutein market to maintain a stronghold.
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