Eye Health Supplements Market size is estimated to reach $2.14 Billion by 2025 and is poised to grow at a CAGR of 6.10% during the forecast period 2020-2025. Eye Health Supplements are the vitamins, proteins and omega acids that helps to maintain eye health and ensure a regular supply of essential minerals. Some of the key ingredients of eye health supplements are zinc, omega-3 fatty acids, vitamin B1, and vitamin C. Besides these ingredients, lutein and zeaxanthin are among the other major additives that help boost the performance of eye health supplements. The high elderly population increased exposure to blue light, and the increased prevalence of various vision disorders such as macular degeneration, refractive errors, cataracts, inflammation, diabetic retinopathy, corneal opacity, trachoma and dry eye syndrome are among the main factors driving the market. Additionally, the uneven quality of eye care services, workforce shortages, lifestyle changes that lead to less time in the outdoors, poor dietary habits, reduced food quality, and increased awareness of eye health further boosts market growth over the forecast years 2020-2025.
Eye Health Supplements Market Segment Analysis – By Ingredient type
The global Eye Health Supplements Market based on Mode of Ingredient type, can be further segmented into Alpha-Lipoic Acid, Antioxidants, Astaxanthin, Coenzyme Q10, Flavonoids, Lutein and Zeaxanthin, Omega-3 Fatty acids, and others. The Lutein and Zeaxanthin segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025 owing to the rising consumption of Lutein and Zeaxanthin, which is the major reason for driving the segment.
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Eye Health Supplements Market Segment Analysis – By Formulation
The global Eye Health Supplements Market based on Mode of Formulation, can be further segmented into Capsules, Liquid, Powder, Soft gels, and Tablets. Tablets segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the cost-effectiveness and easy to manufacture in comparison with other formulations. They offer the significant benefits to manufacturers such as trouble-free packaging and transportation and increased chemical and physical stability, which are the major factors driving the tablets segment.
Eye Health Supplements Market Segment Analysis – By Geography
The global Eye Health Supplements Market based on Geography can be further segmented into North America, Asia-Pacific, Europe, and Rest of World. North America registered for the highest revenue in 2019. The increasing prevalence of chronic eye disorders, an aging population, an improved reimbursement scenario, increased awareness, and availability of sophisticated commercial eye health supplements are the factors contributing to North America’s dominance in the global eye health supplement market. However, Europe is estimated to outpace all the regions by clocking the highest CAGR during the forecast period 2020-2025 owing to the increase in research & development activities, rapidly improving insurance sectors, and the increase in demand for innovative products in the region.
Eye Health Supplements Market Drivers
Rising incidence of eye disorders
Growing eye disorders, such as age-related macular degeneration (AMD), and increased awareness of eye health among the general population, are estimated to drive the growth of the eye health supplements market. The elderly people are more at risk of developing eye disorders and thus, globally, the growing number of elderly people is estimated to further boost the eye health supplement market. Moreover, manufacturers are generating awareness about the Eye health supplements through age-specific advertisements, which is projected to augment market demand over the forecast period 2020-2025.
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Eye Health Supplements Market Challenges
High cost of Eye Health Supplements
The lack of eye health supplement products availability is projected to hamper the market growth. However, the high cost associated with the Eye Health Supplements in the emerging countries is acting as a major challenge for the growth of the Eye Health Supplements Market during the forecast period 2020-2025.
Eye Health Supplements Market Industry Outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Eye Health Supplements Market. Key companies of this market Bausch + Lomb, Novartis International AG, Vegaste Technologies Corp, Akorn Consumer Health, Butterflies Healthcare Ltd, Vitabiotics Ltd., Herbalife International of America, Inc, SUSS Technology Corp, Pfizer Inc, and Allergan Plc.
In August 2020, Vegaste Technologies Corp announced that the Company has entered into an agreement with Winnipeg, Manitoba-based Vita Health Fresh Market to distribute Vita Health’s selection of plant-based vitamins, supplements through the Company’s PlantX e-commerce platform.
In July 2019, in 2019, Bausch + Lomb, which is a leading eye health company has launched Ocuvite® Eye Performance Vitamins. This Ocuvite® eye performance vitamin contains seven vital nutrients that strengthen the macula.
Geographically, the North America area is poised to see extraordinary development owing to the increasing prevalence of chronic eye disorders, and availability of sophisticated commercial eye health supplements in the region and is set to continue during forecast period 2020-2025.
The global demand for the Eye Health Supplements Market is owing to eye disorders and increased awareness of eye health among the general population around the globe.
The high cost of the Eye Health Supplements is estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Eye Health Supplements Market report.
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