Rockville, April 21, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its recently published research report, reveals that the global eye health supplements market is set to expand at a CAGR of 6.2% through 2033.
Worldwide demand for eye health supplements is expected to reach a market valuation of US$ 3.5 billion by the end of 2033. Increasing incidence of vision impairment is estimated to fuel the demand for eye health supplements.
High intensity of myopia is attributed to rising risks of different progressive eye disorders, including glaucoma, cataracts, and age-related macular degeneration (AMD).
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| Eye Health Supplements Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6.2% |
| Market growth 2023-2033 | US$ 3.5 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | The Nature’s Bounty Co., Pfizer Inc., Vitabiotics Ltd., Bausch & Lomb, Kemin Industries, Inc., Amway International, EyeScience, Wellbeing Nutrition, Nutrivein, ZeaVision LLC, Nutrachamps, Kemin Industries, Inc |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
The rising preference for eye health supplements among millennials and older groups of individuals who are highly prone to myopia and digital eye fatigue is also driving market growth. Moreover, the increasing prevalence of different eye conditions, including dry eye syndrome, inflammation, and others are also contributing to increased demand for eye health supplements across the globe.
Eye health supplements are used to maintain the health of the eyes and reduce and terminate the effects of eye diseases and infections. Vitamins, proteins, and omega acids are present in eye health supplements, which aid in maintaining eye health.
Key Takeaways from Market Study
- The global eye health supplements market is valued at US$ 1.9 billion in 2023.
- Worldwide demand for eye nutrition supplements is projected to reach a valuation of US$ 3.5 billion by the end of 2033.
- The global market is predicted to expand at a CAGR of 6.2% over the assessment period (2023 to 2033).
- The lutein and zeaxanthin segment held 32% share of global market revenue in 2022.
- Tablet-based eye health supplements accounted for 41% share of the global market in 2022.
“Ophthalmologists around the world are recommending eye health supplements for the prevention and treatment of different eye-related disorders, which is bolstering their sales,” says a Fact.MR analyst.
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Increasing Cases of Eye Diseases
The growing count of eye diseases among the elderly population is predicted to drive growth opportunities for suppliers of eye health supplements over the coming 10 years. The growing age of people invites numerous eye diseases, which require attention to sustain eye health. Vision-supportive supplements are opted as a great way to tackle different types of eye disorders.
Numerous diseases, including refractive errors, inflammation, cataract, macular degeneration, diabetic retinopathy, trachoma, dry eye syndrome, and corneal opacity are taken care of with the use of eye health supplements. Therefore, increased incidences of eye disorders are projected to fuel growth opportunities in the target market.
Rising exposure to blue light owing to the growing use of the screen and smart devices can degrade eye health, which is further expected to boost market growth opportunities. Dropping food quality and poor nutritional benefits are estimated to contribute to revenue generation opportunities during the assessment period.
Competitive Landscape
Top brands producing eye health supplements are investing in the improvisation of their systems used for supply chain management. Companies are investing a significant amount in new developments to offer more qualitative products to end users with a variety of flavors.
Moreover, governing bodies are implementing regulatory frameworks to reduce environmental impacts and to ensure the availability of quality products in the global market.
Prominent players are focusing on the development of more efficient eye health supplements to gain lucrative opportunities in the market.
For instance:
- In April 2022, Wellbeing Nutrition released ‘Melts Eye Care’, which is the first all-natural eye vitamin in the world. This internationally recognized brand uses advanced nanotechnology for the delivery of vitamins directly into the bloodstream. It makes the bloodstream more bioactive and bioavailable compared to conventional capsules and tablets.
- In October 2020, Nature’s Way invested in the manufacturing of supplements for kids to ensure better health for them. The company announced the launch of dietary supplements, which can cater to the health requirements of children. Nature’s Way Healthy Eyes is a supplement for better functioning and health of the eyes.
Winning Strategy
Prominent manufacturers of eye health supplements are investing to launch new products, which are available in different flavors.
For instance,
- Entod Pharmaceuticals is a research-based pharmaceutical company. In January 2022, the company launched a saffron-based eye care supplement, Macusaff capsule in India. Entod Pharmaceuticals holds more than four decades of medical expertise in ENT, dermatology, and ophthalmology medicine.
Segmentation of Eye Health Supplements Industry Research
- By Ingredient:
- Lutein and Zeaxanthin
- Omega-3 Fatty Acids
- Antioxidants
- Coenzyme Q10
- Flavonoids
- Alpha-lipoic Acid
- Astaxanthin
- Others
- By Indication:
- Age-related Macular Degeneration (AMD)
- Cataract
- Dry Eye syndrome
- Inflammation
- Others
- By Formulation:
- Tablets
- Capsules
- Powder
- Softgels
- Liquid
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the eye health supplements market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on ingredient (lutein & zeaxanthin, omega-3 fatty acids, antioxidants, coenzyme Q10, flavonoids, alpha-lipoic acid, astaxanthin, others), indication (age-related macular degeneration (AMD), cataract, dry eye syndrome, inflammation, others), and formulation (tablets, capsules, powder, softgels, liquid), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Eye Health Supplements Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Eye Health Supplements sales grow until 2033?
- Which are the factors hampering the Eye Health Supplements demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Eye Health Supplements Market during the forecast period?
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