Eye Health Supplements Market Outlook 2031:
The global eye health supplements market size was valued at USD 1.69 Billion in 2022 and is projected to reach USD 2.88 Billion by 2031, expanding at a CAGR of 6.1% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing prevalence of visual impairment and shortsighted population, particularly during the COVID-19 pandemic, due to increased use of screens and attending virtual meetings while working from home.
Eye supplements are prescribed drugs that aid in the maintenance of healthy eye health and vision. Eye health supplements are used to counteract the effects of infections and eye diseases, in addition to improving or restoring vision.
Eye health supplements contain vitamins, proteins, and omega acids, which help to maintain eye health and ensure a steady supply of critical minerals Eye health supplements contain vitamins, proteins, and omega acids, which help to maintain eye health and ensure a steady supply of critical minerals. Vitamin A, lutein and zeaxanthin, omega-3 fatty acids, gamma-linolenic acid, and other ingredients are commonly found in eye health supplements.
Eye Health Supplements Market Trends, Drivers, Restraints, and Opportunities
- Increasing prevalence of geriatric population is anticipated to boost the market growth during the forecast period.
- Increasing digital eye fatigue and visual impairment in millennials are anticipated to drive the market growth during the forecast period.
- The market is being driven by an increase in the prevalence of various eye conditions such as Age-related Macular Degeneration (AMD), dry eye syndrome, cataracts, and inflammation, as well as ophthalmologists' increasing recommendations for eye health supplements for prevention and treatment of these disorders are the factors which is estimated to propel the market growth during forecast period.
- Increasing demands for Lutein and Zeaxanthin supplements, as well as bilberry extract supplements, for eye health, and easy access to these supplements through direct sales and e-commerce platforms are the factors which is estimated to propel the market growth during forecast period.
- New eye health supplement launches for cater the demand in market is projected to create opportunities for the market players.
Scope of the Eye Health Supplements Market Report
The report on the global eye health supplements market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Eye Health Supplements Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Ingredient (Lutein and Zeaxanthin, Antioxidants, Omega-3 Fatty acids, Coenzyme Q10, Flavonoids, Alpha-Lipoic Acid, Astaxanthin, and Other Supplements), Indication (Age-related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Inflammation, and Others), Formulation (Tablets, Capsules, Powder, Softgels, and Liquid)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
The Nature's Bounty Co.; Vitabiotics Ltd.; Pfizer Inc.; Amway International; Bausch & Lomb; Nutrivein; ZeaVision LLC; Kemin Industries, Inc.; EyeScience; Nutrachamps
Eye Health Supplements Market Segment Insights
Lutein & zeaxanthin segment is expected to account for a key share of the market
Based on Ingredient, the eye health supplements market is segmented into lutein & zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, alpha-lipoic acid, astaxanthin, and other supplements. The lutein & zeaxanthin segment is expected to account for a key share of the market during the forecast period due to the increasing awareness of the advantages of Lutein and Zeaxanthin supplements in the prevention and effective treatment of different eye diseases, particularly AMD, diabetic retinopathy, uveitis, and cataract.
Furthermore, the increasing prevalence of eye disorders, particularly AMD, and the increasing endorsement of these supplements by ophthalmologists, clinicians, and vision scientists is driving the segment further. According to the eye disease case-control study, those who took more Lutein and Zeaxanthin supplements had a 43.0% lower chance of contracting AMD than people who took less intake of these nutrients. Therefore, it is strongly suggested to include supplements in one's daily diet in order to meet daily requirements, which is driving the market's growth.
On the other hand, the flavonoids segment is anticipated to expand at a rapid pace during the forecast period owing to increased demand for bilberry supplements. Bilberry extract, as one of the most important eye health supplements, has long been used to ease eye tiredness as well as treat retinal problems such as cataracts, glaucoma, and nearsightedness. The growing availability of bilberry extract for eye health at reasonable prices is encouraging the use of flavonoids as eye health supplements, which is favorably affecting market growth.
Age-related macular degeneration (AMD) segment is expected to hold a key share of the market
Based on indication, the eye health supplements market is segmented into age-related macular degeneration (AMD), cataract, dry eye syndrome, inflammation, and others. The age-related macular degeneration (AMD) segment is expected to hold a key share of the market during the forecast period due to increasing prevalence of AMD around the world.
According to the International Agency for the Prevention of Blindness (IAPB), AMD is the third leading cause of blindness worldwide, and it is the main cause of blindness in economically strong countries with large elderly populations. According to BrightFocus Foundation, macular degeneration is expected to affect about 288.0 million people worldwide by the end of 2040.
On the other hand, the dry eye syndrome segment is anticipated to expand at a rapid pace during the forecast period due to increasing recommendation by ophthalmologists to increase the intake of dietary supplements to dry eye patients. Furthermore, dry eye patients are taking Omega-3 fatty acid supplements, which have been proved to be useful in treating dry eye and ocular surface disease.
Tablet segment is expected to represent a key share of the market
Based on formulation, the eye health supplements market is segmented into tablets, capsules, powder, softgels, and liquid. The tablets segment is expected to represent a key share of the market during the forecast period owing/due to increasing preference because of its availability in various forms such as chewable tablets, sustained-release tablets, and sublingual and buccal tablets.
Furthermore, the industry is being driven by factors such as tablets being less expensive than other supplement forms and their widespread popularity among patients of all ages. Another element boosting demand for tablet formulations is the longer shelf life of tablets compared to powder and liquid forms.
On the other hand, the softgels segment is anticipated to expand at a rapid pace during the forecast period owing to its effectiveness in delivering liquid or oil-based supplements. Research suggests that supplements supplied in their natural form are more beneficial than ones that have been modified.
Furthermore, nutrients such as fish oil and krill oil are usually encapsulated in softgels to avoid side effects that might alter the flavor and scent of the oils. Furthermore, the industry is driven by the high availability of softgel eye health dietary supplements by prominent brands such as Nature's Bounty, VisionShield, GNC, Viteyes, and NOW at affordable prices.
North America is anticipated to dominate the market
On the basis of regions, the eye health supplements market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market at an impressive CAGR during the forecast period.
The regional market growth can be attributed to increasing awareness, high availability and increasing prevalence of chronic eye disorders such as AMD, diabetic retinopathy, glaucoma, and dry eye syndrome. Another significant factor driving market expansion in North America is an increase in product launches for eye health supplements in the region.
On the other hand, Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to the presence of a significant number of local market players offering innovative and cheap eye health supplements, as well as rising contract manufacturing hubs for eye health supplements such as China, India, and the Philippines.
Furthermore, increased awareness of eye health has a strong in?uence on market growth in the region. In addition, the rising prevalence of eye-related disorders in Asian nations is likely to be a major market driver during the forecast period.
The global eye health supplements market has been segmented on the basis of
- Lutein & Zeaxanthin
- Omega-3 Fatty acids
- Coenzyme Q10
- Alpha-Lipoic Acid
- Other Supplements
- Age-related Macular Degeneration (AMD)
- Dry Eye Syndrome
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the eye health supplements market include/are The Nature's Bounty Co.; Vitabiotics Ltd.; Pfizer Inc.; Amway International; Bausch & Lomb; Nutrivein; ZeaVision LLC; Kemin Industries, Inc.; EyeScience; Nutrachamps.
Some of major business strategies adopted by companies are mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For example, in August 2019, the Japanese company Nippon Flour Mills entered the healthcare market with the launch of lutein, Ginkgo Biloba, terpene lactone, and zeaxanthin-based eye and brain flavonoid supplements.
Another example is from 2019, Bausch + Lomb, which developed Ocuvite Eye Performance vitamin supplements in the United States to satisfy the growing demands of American consumers.