Global Eye Health Ingredients Market: Overview
Toxic impurities in contact with eyes cause adverse effects on eyesight leading to unhealthy vision. Antioxidants such as Lutein and Zeaxanthin of the carotenoid family are some of the eye health ingredients. Use of antioxidants as eye health ingredients is expected to grow steadily over the forecast period. Increase in number of eye health supplements is also projected to enhance the growth of eye health ingredients market during the forecast period. In addition, protection from UV radiation, elimination of free radicals, need for powerful vision, and high demand for vision sustenance are some of the prominent factors driving the eye health ingredients market.
Increasing eye health problems including cataract, glaucoma, diabetic retinopathy, and Age-Related Macular Degeneration (AMD) are expected to fuel the growth of the global eye health ingredient market. Also, large spending on nutritional products has influenced the pharmaceutical industry growth. Increasing exposure to digital displays, rising prevalence of allergies, and changing lifestyle have resulted in more eye diseases, which, in turn, is projected to bolster the growth of global eye health ingredients market.Eye Health Ingredients Market size was worth over USD 180 million in 2016 and is set to exceed 1.8 kilo tons by 2024.
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Global Eye Health IngredientsMarket: Segmentation
By Source Type: Natural Sources, Synthetic Sources
By Ingredient Type: Lutein, Zeaxanthin, Vitamin A, Beta-carotene, Bilberry extracts
Form Type: Powder, Liquid, Others (Capsule, Soft Gels, Tablets)
By Application: Human, Animal
By Disease Indication: Cataract, Age related Macular Degeneration (AMD), Dry Eye Syndrome, Others
Natural source segment accounted for the largest market share in the global eye health ingredients market in 2017. The growing consumer awareness regarding benefits of natural health sources is expected to fuel the demand for natural eye health ingredients. Lutein and zeaxanthin, the most commonly used ingredients, are usually combined with other health beneficial components such as vitamins A, C, B, and minerals such as zinc and selenium.
North America is expected to be the most lucrative market for eye health ingredients followed by Europe and Asia Pacific. Increasing incidence of low vision and blindness among the people in North America has led to an increased demand for eye health ingredients. Rising geriatric population coupled with increasing consumer spending on healthcare, preference toward healthy lifestyle, and factors such as occupational hazards and smoking, which cause eye-related diseases, are expected to propel the growth of eye health ingredients market globally during the forecast period. The Food and Drug Administration (FDA) does not recommend a safe upper limit for eye health ingredients such as lutein, zeaxanthin, beta carotene, and bilberry extract, making consumers apprehensive about the dosage levels in both functional foods and dietary supplements. Technological advancements and innovations put forth by the manufacturers to expand their portfolio are expected to augment the market growth.
In February 2016, Waitaki Biosciences, one of the key manufacturers of natural nutritional products, launched ‘CassiPure’, anthocyanin rich blackcurrant extracts for eye health and immune support. Similarly, in July 2016, Nestle Taiwan launched upgraded Nestle Good Health Nutrition product for eye health among the middle-aged population, particularly for those who spend several hours a day using smart phones.
Some of the key players involved in the global eye health ingredients market are Amway, MacuShield, Bausch & Lomb Incorporated, Novartis AG, Solgar Inc., Swanson Health Products, Allied Biotech Corporation, BASF SE, DSM, Kemin Industries Inc., Davos Life Science Pte ltd., Wilmar International Limited, and Vitae Naturals.