Global Eye Health Supplements Market Size, Share, Growth Analysis, By Ingredient Type(Lutein and Zeaxanthin, Antioxidants), By Indication(Age-related Macular Degeneration (AMD), Cataract), By Formulation(Tablets, Capsules)-Industry Forecast 2023-2030

Global Eye Health Supplements Market size was valued at USD 1.79 Billion in 2022 and is poised to grow from USD 1.9 Billion in 2023 to USD 3.00 Billion by 2031, at a CAGR of 5.9% during the forecast period (2024-2031).

The market for eye health products is witnessing significant growth, propelled by various factors such as the increasing incidence of vision impairment and myopic vision, particularly during the COVID-19 pandemic due to heightened screen usage and online interactions while working from home. The surge in myopia is linked to a higher risk of developing progressive eye conditions like cataracts, glaucoma, and age-related macular degeneration. This trend has led to a heightened demand for eye health products among both elderly individuals and millennials, who are susceptible to digital eye fatigue and myopia, contributing to global market expansion. The prevalence of various eye conditions, including Age-related Macular Degeneration (AMD), dry eye syndrome, cataracts, and inflammation, along with endorsements from ophthalmologists for the use of eye health supplements in preventing and treating these disorders, is further driving market growth. The World Health Organization (WHO) reports that approximately 2.2 billion people worldwide suffer from vision impairment or blindness, with low and middle-income countries experiencing significantly higher rates than high-income countries. Women, especially in poorer nations, are more likely to be affected by eye diseases such as cataracts and AMD. In developed countries like the United States, Canada, Australia, and the United Kingdom, high per-capita expenditures on healthcare items, including eye health dietary supplements, are contributing to market expansion. The increasing demand for supplements containing Lutein & Zeaxanthin and bilberry extract for promoting eye wellness, coupled with easy accessibility through direct sales and e-commerce platforms, is further fueling market growth. Moreover, the market is expected to experience a boost with the introduction of new eye health supplements aimed at meeting the needs of the 1.0 billion untreated individuals with vision impairment worldwide. For instance, Bausch + Lomb launched its PreserVision AREDS 2 Formula micro gel eye vitamins in the United States in 2020, providing a more convenient option for individuals with advanced AMD compared to the company's previous soft gel formula. The robust sales channels and supply networks for these supplements also contribute significantly to market expansion. A NutraIngredients survey reveals a substantial increase in internet sales of eye health supplements, rising to approximately 48.3% in recent months, driven in part by the COVID-19 crisis. This emphasizes the resilience and adaptability of the market, paving the way for further growth in the near future.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Eye Health Supplements Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to get the final quantitative and qualitative data.

Global Eye Health Supplements Market Segmental Analysis

The global eye health supplements Market is segmented into ingredient type, indication, formulation and region. Based on ingredient type, the market is segmented into lutein and zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, alpha-lipoic acid, astaxanthin, and other supplements. Based on indication, the market is segmented into age-related macular degeneration (AMD), cataract, dry eye syndrome, inflammation, and others. Based on formulation, the market is segmented into tablets, capsules, powder, softgels, liquid. Based on region, the global Eye Health Supplements Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Eye Health Supplements Market

The increasing occurrence of eye-related conditions like age-related macular degeneration (AMD), cataracts, and dry eye syndrome is fueling the need for eye health supplements. With a rising global aging population, the prevalence of these disorders is anticipated to climb, generating an expanding market for supplements designed to promote and maintain optimal eye health.

Restraints in the Global Eye Health Supplements Market

Although there is anecdotal evidence and initial studies suggesting the positive effects of eye health supplements, the overall scientific evidence regarding their effectiveness and long-term impact is constrained. The absence of comprehensive clinical studies and standardized research methodologies serves as a limitation, potentially undermining consumer confidence and acceptance of these supplements.

Market Trends of the Global Eye Health Supplements Market

A rising awareness among consumers regarding the significance of maintaining optimal eye health and preventing age-related eye conditions is prompting a proactive approach. Individuals are actively incorporating eye health supplements into their overall wellness routines.

Consumers are showing a growing preference for eye health supplements crafted from natural and organic ingredients. The emphasis is on products devoid of synthetic additives, preservatives, and artificial colors. This inclination is compelling manufacturers to create supplements with transparent and clean ingredient profiles.

Eye health supplements are now being designed to address particular eye conditions like age-related macular degeneration (AMD), cataracts, dry eye syndrome, and glaucoma. Manufacturers are developing specialized formulations tailored to meet the unique nutritional requirements associated with these conditions, aligning with the specific preferences of consumers.

Combination eye health supplements, encompassing a blend of vitamins, minerals, antioxidants, and other essential nutrients, are gaining traction. These supplements provide comprehensive support for overall eye health, offering a convenient option for consumers who prefer a single product addressing multiple nutritional needs.