The instant invention provides hydrophilic matrix beadlet compositions that include at least one fat soluble nutrient and an effective amount of cellulose polymer with low viscosity. The invention also provides a process for the preparation of the hydrophilic matrix composition by employing a fluid bed system or extrusion spheronization technique. This hydrophilic matrix beadlet composition is comprised of at least 5% to about 25% carotenoid wherein free lutein is present in combination with zeaxanthin. The free flowing nature of the composition allows it to be compressed into tablets or to be filled into two piece capsules or blended as a dry premix for beverage applications. These hydrophilic matrix compositions exhibit desired dissolution characteristics and at least 1.6 times more bioavailability as compared with marketed reference formulations containing modified starch, thus making it advantageous for nutraceutical applications.