Zeaxanthin Market: Introduction
A recent study published by Transparency Market Research (TMR) onthe zeaxanthin market comprisesglobal industry analysis and opportunity assessment for 2020-2030. Revenuegenerated from the global zeaxanthin market was valued at ~US$ 95 Mn in 2020,which is estimated to rise at a CAGR of 8.2% to reach ~US$210 Mn by 2030.
Zeaxanthin is a group of pigments that occur naturally in vegetal rawmaterials and have biological functioning. These pigments are widely used incosmetics, personal care, pharmaceuticals, and nutraceuticals, including thefood & beverages industry.
The extraction process of carotenoid is generally done via organicsolvents and vegetal oil; however, the supercritical technology is thealternative to the recovery of these compounds, offering many benefits ascompared to conventional methods.
Benefits of Zeaxanthin for Eyes
Eye disorders and diseases are growing as one of the key healthcareburdens for many developed nations and developing countries. The risingincidence of eye ailments among aging population are driving the eyesupplements market. The age related macular degeneration condition majorlyaffects individuals aged over 50 and is responsible for loss of individualcentral vision.
According to the estimation of the National Health Service, age relatedmacular degeneration is currently affecting more than 0.6 million peopleonly in the U.K. and is predicted to reach 0.7 million by 2020 end.As a preventive measure, various manufacturers with the support of governmentare conducting awareness campaign about eye health and also promotes variouseye health supplements.
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For instance, in February 2017, Allergan launched SeeAmerica public awareness campaign to increase awareness and access to eyeexaminations. The medical health cost associated with eye care are higher inamounts and can be avoided through supplementation. These eye campaigns andproduct promotion will bring awareness among consumers for the eye healthbenefits of zeaxanthin products
There are widespread lutein and zeaxanthin supplements available inmarket for eye care. The rising awareness of such supplements is increasing thedemand for zeaxanthin among consumers aiding the growth of the market.
Cultural Customization to Target SpecificPopulations and Ethnic Groups
With the rising access to information and technology, food &beverages companies are looking to capitalize on the consumer food trend as away to boost income, sales, profit, and market share across the globe. Almostevery food and beverage manufacturers are turning toward cultural customizationto target a specific population and ethnic group as a way to increase marketpenetration.
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In the food & beverage industry, there are particularly incrediblegrowth opportunities for brands keen to involve consumers in the functionalityand design of their products. Moving to the year 2020 andbeyond, the trend of cultural customization of products show no sign of slowingdown within the food & beverages industry.
With changing consumer preference and increasing health consciousnessrelating to diets, manufacturers of food and beverage products are targetingspecific populations and ethnic groups in order to offer refined customizedfood products to maximize profits and increase their consumer base. The foodfortification with important antioxidant and carotenoids will attract the largenumber of consumer base as every another person these days is attracted tohealthy lifestyle.
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Demand for Zeaxanthin to Rise as ManufacturersStrive to Innovate Products with Natural Ingredients
Manufacturers are using zeaxanthin as a potential alternative to variouschemicals in aquaculture and in the food processing industry due to itspigmentation and multi-vitamin property.
Product innovation due to increasing consumer demand for naturalingredients in personal care products such as soaps and toiletries, sun careproducts, moisturizers, and other skin care products such as face washes,scrubbers, and color cosmetics are increasing the value of cosmetic zeaxanthin.
Manufacturers are focusing on developing high quality organicingredients, including zeaxanthin, owing to the increased demand forspecialized chemical-free ingredients in food, feed, cosmetics, and personalcare industries.
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Impact of COVID-19: Zeaxanthin Market
The global pandemic of COVID-19 has led to lockdown in almost alldeveloped countries over the globe, including the U.S., China, the U.K., andmany others. The lockdown has forced companies to implement work from home as anew normal, which has caused people being constantly working on laptops, smartphones, and other gadgets. The lockdown has also forced children to stayinside, while continuously watching television and gadgets, which has abruptlyincreased eye problems among consumers. The demand for zeaxanthin, owing to itseye care properties, is expected to boost by 2021.
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