Lutein and Zeaxanthin Market Expected to Reach $627.8 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Lutein & Zeaxanthin Market," The lutein and zeaxanthin market size was valued at $397,606.1 thousand in 2021 and is projected to reach $627,779.55 thousand by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

Lutein, zeaxanthin, and meso-zeaxanthin are three carotenoids that are specifically concentrated in the human macula. Lutein and zeaxanthin are obtained through dietary sources, such as green leafy vegetables and orange and yellow fruits and vegetables, while meso-zeaxanthin is uncommon in diet and is formed at the macula by metabolic processes of ingested carotenoids. These carotenoids are widely recommended as dietary supplements for the prevention of two most common eye diseases in older people, that is, cataract and macular degeneration. 

Factors such as increase in demand for dietary supplements, rise in prevalence of age-related macular degeneration (AMD), and rise in adoption of lutein and zeaxanthin in the cosmetic industry drive the growth of lutein & zeaxanthin market. In addition, rise in incidence of other eye conditions, including cataract is also expected to drive the market. For instance, according to World Health Organization, there are about 2.2 billion people globally, who have a near or distance vision impairment and 1 billion of these cases, are preventable and needs to be addressed.

Age-related cataract is the leading cause of blindness around the globe, which is mainly caused due to excessive smoking, diabetes, sunlight exposure, abnormal body mass index, refraction, and estrogen replacement therapy. For instance, according to American Academy of Ophthalmology, in the U.S., the number of people with cataract is anticipated to double from 24.4 million in 2021 to about 50 million by 2050. 

However, cataract can be prevented and treated using lutein and zeaxanthin, which works by slowing down the progression of vision impairment. This rise in number of cataract cases in the U.S. and other countries, highlights the demand for nutraceuticals, such as lutein and zeaxanthin supplements, which propels the market growth. 

Furthermore, lutein and zeaxanthin are known to be used in prevention and treatment of various skin ailments. These carotenoids are photoprotective in nature and thus, support skin health during sunlight exposure. It acts by neutralizing free radicals generated in the skin, thereby supporting a healthy inflammatory response in the skin during sunlight exposure. In addition, lutein and zeaxanthin function as antioxidants, and thus, stimulate the cell-to-cell communication, which is essential in cell growth. This further helps in preventing skin ageing problems and hence, lutein and zeaxanthin have a higher demand in the cosmetic industry. 

In addition, people in the developed countries are very well aware about skin damaging effects of sunlight, and are more conscious regarding their skin health. Also, well-established healthcare infrastructure along with high spending capabilities of population in developed regions, are some of the major lutein and zeaxanthin market trends. However, in recent years, rise in awareness by the healthcare professionals regarding skin health is seen in developing regions, such as China, Japan, and India. This is anticipated to increase the demand for lutein and zeaxanthin cosmetic products in these countries, further driving the market growth during the forecast period.

Although, there are number of factors driving the market, stringent regulations related to manufacturing and supply of nutraceuticals, hinder the lutein and zeaxanthin market growth. Manufacturing along with classification and labeling of these products have strict regulatory requirements along with some specific quality control procedures, which has to be strictly followed by companies. 

In addition, manufacturers have to keep track of the product manufacturing activities and notify the Food and Drug Administration (FDA) regarding their ingredient usage and corrective and preventive action (CAPA) procedures. Such regulations are expected to act as a restraint to the market growth.

The lutein and zeaxanthin industry is segmented on the basis, application, and region. On the basis of type, the market is segmented into lutein and zeaxanthin. The lutein segment dominated the market in 2021, owing to several advantages and applications of lutein in treatment and prophylaxis of various diseases, which leads to rise in its demand in the healthcare sector. On the contrary, the zeaxanthin segment is expected to grow at the fastest rate during the forecast period.

By application, the market is segmented into supplements, cosmetics, pharmaceuticals, and others. The supplement segment dominated the market in 2021, and is expected to grow at the fastest rate during the forecast period, owing to rise in demand for lutein and zeaxanthin supplements in the population from the developed countries. In addition, increase in innovation by the key market players to formulate high quality and low-cost lutein supplements drives the segment growth. 

Europe acquired the major lutein and zeaxanthin market share in 2021, owing to well-established healthcare infrastructure, rise in spending of population in the region, and presence of major key players offering lutein and zeaxanthin in the region. On the other hand, Asia-Pacific is expected to register highest CAGR during the forecast period.

KEY FINDINGS OF THE STUDY

• On the basis of type, the lutein segment held the largest market share in 2021, whereas the zeaxanthin segment is expected to remain dominant during the forecast period.
• On the basis of application, the supplements segment held largest market share in 2021, and is expected to grow at the fastest CAGR rate during the forecast period.
• Region wise, Europe held the largest share of the lutein & zeaxanthin market in the year 2021, whereas the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.