Report ID: UCMIG15E2587
Report ID:
UCMIG15E2587 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2023, the worldwide lutein market had a valuation of USD 371 million, and it is anticipated to achieve USD 488 million by 2028, reflecting a compound annual growth rate (CAGR) of 5.6% throughout the forecast period. Lutein, a naturally occurring pigment abundant in various fruits and vegetables, is notably found in leafy greens such as spinach and kale, as well as in marigold flowers in substantial concentrations. Its well-established reputation lies in its advantageous impact on eye health, specifically in diminishing the likelihood of age-related macular degeneration (AMD) and cataracts.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG15E2587