Market Overview:
The Global Eye Health Ingredients Market size is expected to grow from USD 387.20 million in 2022 to USD 621.81 million by 2030, at a CAGR of 6.1% during the forecast period (2023-2030).
The organs of the eyes are composites. A clear vision requires the cooperation of many parts. There is an increasing demand for ingredients and goods that address eye health due to the growing population of older people and people who spend their days staring at screens. This requirement is even more important in light of research suggesting a link between overall mental and emotional well-being and eye health because the eyes are connected directly to the brain's central nervous system. Additionally, adding potent vitamins, minerals, and antioxidants to diet can improve vision and overall eye health.
Top Key Players in Eye Health Ingredients Market:
Allied Biotech Corporation (Taiwan), Efamol, MacuShield, BASF SE (U.S.), AIDP Inc. (U.S.), BI Nutraceuticals (U.S.), BLUE CALIFORNIA (U.S.), Amway, DSM (The Netherlands), Alcon, Solgar, Swanson, FMC Corporation, and Other Major Players.
Market Dynamics and Factors for Eye Health Ingredients Market:
Drivers:
Increasing Consumer Spending on Nutritional Products
Consumer awareness of the benefits of lutein, zeaxanthin, and carotenoids for eye health is steadily rising. During the forecast period, more eye supplements will be introduced, which will increase product demand. In 2016, the world's supplement launched included more than 4% of products for the eyes. The key characteristics promoting product penetration are maintaining sharp vision, eliminating free radicals, and UV radiation protection.
The market for eye health ingredients is expanding due to factors like rising age-related eye diseases and rising consumer demands for vision nutrition. The prevalence of conditions like diabetic retinopathy, age-related macular degeneration (AMD), cataracts, and glaucoma will spur industry expansion.
Opportunities:
Research and Development Activities
Research and development (R&D) activities play a pivotal role in shaping the Eye Health Ingredients Market, offering significant growth opportunities for companies that invest in innovative solutions. The convergence of scientific advancements and consumer demand for enhanced eye health has created a unique space for R&D-driven developments to thrive.
Ongoing R&D efforts allow companies to create advanced formulations of eye health ingredients, incorporating novel compounds, antioxidants, and vitamins that are tailored for optimized ocular health. R&D activities generate scientific data and clinical trials that validate the efficacy of eye health ingredients. Products backed by robust research build consumer trust and contribute to market growth.
Segmentation Analysis of the Eye Health Ingredients Market:
By Form, the capsule and tablets segment is expected to dominate the market. Due to its ease of utilization and reducing stomach upset possibility characteristics.
By Application, human is likely to dominate in this area. Increasing vision issues at an early age such as macular degeneration, cataracts, and glaucoma have influenced product demand in this segment. Increasing surgery expenditures is another factor encouraging customers towards OTC supplements to avoid high expenses on hospitals.
Regional Analysis of the Eye Health Ingredients Market:
North America is expected to dominate the market during the forecast period. Due to the rising number of cases of eye problems and product launches containing new ingredients for eye health in this area. In the United States, age-related eye diseases like glaucoma, cataracts, diabetic retinopathy, and age-related macular degeneration are the main causes of blindness and low vision. The market for eye health ingredients in the area will also grow as consumer spending on drugs and pharmaceuticals increases.
Key Industry Development:
In April 2019, Algatechnologies, Ltd, declared the introduction of AstaPure-EyeQ, a natural cold-water-soluble astaxanthin powder to defend the eye from radiation and oxidative stress.
In June 2018, Bausch & Lomb Incorporated introduced an Ocuvite Blue Light Eye Vitamin, which is a nutritional supplement formulated by using Zeaxanthin and Lutein, the carotenoid pigments that are naturally occurring in the eyes. The formulation of these nutrients is comprised of high levels of Lutein and helps in the protection of eyes from the blue light that reaches the macula.
