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3. BASF SE (Germany), India Glycols Limited. (India) and Kemin Industries, Inc. (US) are leading players in Lutein Market

The global market for lutein was valued at USD 371 million in 2023 and is projected to reach USD 488 million by 2028, at a CAGR of 5.6% during the forecast period.

Lutein is a naturally occurring carotenoid found in various fruits and vegetables, particularly in dark leafy greens like kale and spinach. It is also present in egg yolks and certain types of algae. Lutein is known for its antioxidant properties and its ability to support eye health. It plays a crucial role in protecting the eyes from harmful blue light and oxidative stress. As a result, lutein is widely used in dietary supplements, functional foods, beverages, and cosmetics. The aging population is a significant driver of the increased demand for lutein-rich products. As people age, the risk of developing eye-related conditions such as cataracts and age-related macular degeneration (AMD) increases. AMD, in particular, is a leading cause of vision loss among older adults. As the global population continues to age, the prevalence of these eye-related disorders is expected to rise. Consequently, there is a growing recognition of the importance of preventive measures to maintain good eye health. Lutein-rich products, including dietary supplements and functional foods, have gained popularity as an easy and convenient way to incorporate lutein into daily routines to support eye health. Thus, these factors have been driving the growth of the lutein market.

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BASF SE (Germany), India Glycols Limited. (India), Kemin Industries, Inc. (US), E.I.D. Parry (India) Limited (India), and Divi’s Laboratories (India) are among the key players in the global lutein market. Companies are focusing on expanding their sales network by entering into partnerships and agreements as well as by launching new products to grow their businesses and their market shares. New product launches as a result of extensive research & development (R&D) initiatives, and strategic acquisitions to gain a foothold over the large extent of the supply chain are the key strategies adopted by companies in the lutein market.

BASF SE (Germany)

BASF SE manufactures chemical products, operating in a variety of markets, including chemicals, plastics, performance products, agricultural solutions, and oil and gas. BASF SE operates through seven business segments-Chemicals, Materials, Industrial Solutions, Surface, Nutrition & Care, Agricultural Solutions and Others segment (includes oil & gas and other technical services).

In the Nutrition & Care segment, involving the Care Chemicals and Nutrition & Health divisions, they serve the growing and increasingly sophisticated demands for fast-moving consumer goods. This includes food and feed manufacturers, as well as pharmaceutical, cosmetics, detergent, and cleaner manufacturers. They also provide technical applications, crop protection, and nutrition solutions. The lutein market related products are catered in this segment.

It primarily operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East.

India Glycols Limited. (India)

India Glycols is a renowned company at the forefront of manufacturing green technology-based bulk, specialty, and performance chemicals, as well as natural gums, spirits, industrial gases, sugar, and nutraceuticals. Established in 1983 as a mono-ethylene glycol plant, India Glycols has evolved into a global player, combining advanced technology, innovation, and a steadfast commitment to quality. The company's diverse product range has gained significant international demand.

Operating from state-of-the-art integrated facilities, India Glycols manufactures a wide array of chemicals, including glycols, ethoxylates, glycol ethers and acetates, and various performance chemicals. Its product portfolio extends to sectors such as chemicals, spirits, herbal and phytochemical extracts, guar gum, industrial gases, and realty, finding applications in numerous industries.

The company operates in three business segments: industrial chemicals, ethyl alcohol, and nutraceuticals. The lutein products are specifically offered within the nutraceutical segment. The company primarily operates within India and exports its products to various countries, including US and others.

Kemin Industries, Inc. (US)

Kemin Industries, Inc. is a leading bioscience company that provides more than 500 specialty ingredients for the human and animal health and nutrition, pet food, aquaculture, nutraceutical, food technologies, crop technologies, textile, biofuel and animal vaccine industries.

It has eight divisions, namely, animal nutrition & health, animal vaccines, aquaculture, crop technology, food technologies, human nutrition & health, pet food & rendering technologies and textile auxiliaries. Kemin Human Nutrition & Health is a division that focuses on supplying functional ingredients (including lutein) derived from plant-based and natural sources from all over the world. These ingredients can be incorporated into dietary nutrition products, helping individuals enhance their overall well-being and achieve their health goals.

The company manufactures lutein under the brand name, FloraGLO Lutein. FloraGLO Lutein is a high-quality, naturally-sourced form of unesterified lutein that has gained a strong reputation for its safety, efficacy, and consistent performance. It holds the distinction of being the first lutein brand to enter the global market.

The company has manufacturing facilities in major countries: Belgium, Brazil, China, Egypt, India, Italy, San Marino, Singapore, South Africa and US. It has a strong sales network with sales offices in more than 120 countries. It has a global presence in North America, South America, Europe, the Middle East, and Asia Pacific.

Related Reports:

Lutein Market by Form (Powder & Crystalline, Oil Suspension, Beadlet, Emulsion), Source (Synthetic, Natural), Application (Dietary Supplements, Animal Feed, Food, Beverages,), Production Process and Region - Global Forecast to 2028

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