According to Arizton’s latest research report, the eye health supplements market is growing at a CAGR of 6.70% during 2023-2029.
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Report Summary
Market Size (2029): $3.28 Billion
Market Size (2023): $2.22 Billion
CAGR (2023-2029): 6.70%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Ingredients, Indication, Product Form, Distribution Channels, and Geography
Geographic Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
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The global market for eye health supplements is thriving with abundant growth opportunities. Ongoing research on supplement ingredients and their impact on various eye conditions significantly drives this growth. The continuous innovation in formulations, product types, and their effectiveness has garnered considerable attention and sustained momentum for market expansion. Increasing research into ingredients that offer multiple benefits for managing eye health further intensifies competition among industry players, driving innovation and market advancement.
Market Trends
The global market for eye health supplements is witnessing significant growth driven by several key trends and drivers. There is a growing public health focus on eye health across all age groups, spurred by increasing incidences of eye diseases among children, younger adults, and the elderly. Government initiatives and awareness campaigns are crucial in promoting eye care and eye health supplements, as advocated by the WHO’s World Report of Vision 2019.
Consumers increasingly prefer eye health supplements derived from natural ingredients, such as carotenoids like lutein and zeaxanthin, found in sources like bilberries and astaxanthin. This trend reflects a broader shift towards natural and sustainable health solutions.
The prevalence of eye diseases globally, leading to vision impairment and blindness, remains a significant concern, with conditions like cataracts and age-related macular degeneration driving demand for effective supplements that can help manage and prevent these ailments.
The rise in screen time due to factors like remote work and increased use of digital devices has heightened awareness about the importance of eye care. This has fueled demand for supplements that can alleviate eye strain and mitigate the effects of prolonged screen exposure, including issues like dryness and visual discomfort caused by blue light emissions.
Moreover, the aging population, particularly in low- and middle-income countries, contributes to increased demand for eye health products to maintain and improve vision as individuals age. This demographic trend underscores the growing need for preventive eye care solutions.
In summary, the eye health supplements market is expanding rapidly due to rising awareness, preference for natural ingredients, increasing prevalence of eye diseases, impacts of prolonged screen time, and a growing aging population. These factors collectively drive both consumer demand and market growth within the sector.T
The Global Eye Health Supplement Market by Pharmacies & Drug Stores to Reach $1.4 Billion by 2029
In 2023, pharmacies and drug stores emerged as pivotal hubs for the global eye health supplements market, capturing 44.15% of its total share. These outlets serve as primary sources for healthcare and nutritional products, offering a variety of supplements vital for improving eye health and addressing various eye conditions. This dominance extends across both developed and developing markets, where pharmacies are often the first point of contact for healthcare solutions. Factors such as the aging population, increasing prevalence of eye diseases, and growing awareness about eye health contribute significantly to the escalating demand for eye health supplements from pharmacies. Despite the non-prescription status of many eye health supplements in most regions, pharmacies play a critical role in their distribution, education, and promotion, driving substantial revenue growth within this market segment.
Vendors Landscape
Amway, Bausch Health Companies, Nature’s Bounty, Vitabiotics, and ZeaVision are some of the major companies operating in the eye care industries and achieve significant market penetration, consumer base, and strong brand image. Amway is a global leader in the eye care industry, where Bausch Health Companies deliver high competition to Amway with an expanding geographical presence and product portfolio.
On the other side, emerging market players and local vendors have shifted toward natural health ingredient-based products that have gained high popularity in eye health supplement industries. It again increases competition among leading and emerging vendors.
In the past few years, leading companies such as Amway and Bausch Health have accepted several business growth strategies to stay one step forward in growing competition in various industries.
- In 2023, Novartis Announced that the company divested Front of Eye ophthalmology assets to one of the leading eye care companies, Bausch + Lomb, with transactions valued up to $2.5 billion. This transaction and agreement are expected to enhance Bausch + Lomb’s focus on prioritized innovative medicines to alleviate society’s major disease burdens.
- In 2022, Amway International developed a nutrition eye supplement product in semi-solid (gummies) and jelly strips containing zeaxanthin and lutein to support eye health.
- In 2021, Kemin Industries acquired Proteus Industries to add sustainable clean label yield enhancement technology and broaden their product portfolio.
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Key Company Profiles
- Amway Corp.
- Bausch Health Companies Inc.
- Nature’s Bounty
- Vitabiotics Ltd.
- ZeaVision, LLC.
- Alcon
- Alliance Pharma PLC
- Allied Biotech Corporation
- BASF SE
- Basic Brands Inc. (EyeScience)
- Butterflies Healthcare Ltd
- Cooper Aerobics
- ENTOD INTERNATIONAL
- Guardion Health Sciences
- Kemin Industries
- Herbalife International of America
- Nutrivein
- nuzena
- NOW Foods
- Nordic Naturals
- Nutravita
- Pfizer
- Performance Lab
- Setu
- Theia Bio
- The Synergy Company
- The Himalayan Organics
- Wellbeing Nutrition
- Zenith Labs
Market Segmentation
Ingredients: Lutein & Zeaxanthin, Antioxidants, Omega-3 Fatty Acids, and Other Ingredients
Indication: Age-related macular degeneration (AMD), Cataract, Dry Eye Syndrome (DED), Inflammation, and Other Indications
Product Form: Capsules & Softgels, Tablets, Powder & Liquid, and Other Product Forms
Distribution Channels: Pharmacies & Drug Stores, Supermarkets & Hypermarkets, E-commerce, and Other Distribution Channels
Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
Key Questions Answered in the Report:
How big is the eye health supplements market?
Which region dominates the global eye health supplements market share?
What is the growth rate of the global eye health supplements market?
Who are the key players in the global eye health supplements market?
What are the significant trends in the eye health supplements industry?
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