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Eye Health Supplements Market 2024-2033 : Market Size, Top Segments, Leading Region Forecast
Eye Health Supplements Global Market Report 2024
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According to The Business Research Company's, The eye health supplements market size has grown strongly in recent years. It will grow from $2.03 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to aging population demographics, prevalence of eye disorders, awareness of nutritional impact on eyes, consumer focus on preventive healthcare, availability of diverse supplement forms.
The eye health supplements market size is expected to see strong growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing screen time and digitalization, growing interest in holistic health, clinical validation of ingredients, government initiatives for eye health, integration of functional ingredients. Major trends in the forecast period include innovations in formulations, digital eye strain concerns, personalized nutrition solutions, combination products and multivitamins.
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Market Drivers and Trends:
The growing incidence of vision impairment is driving the eye health supplement market going forward. Vision impairment refers to vision loss that cannot be restored to regular sight. Vision impairment is caused by illnesses such as high blood pressure, cerebrovascular disease, stroke, atherosclerosis, vitamin A deficiency, and eye infections. Eye health supplements provide nutrients and vitamins to the eye to maintain eye health and good vision. For instance, in July 2022, according to the 2022 Vision Index by Optometrists Association Australia, an Australia-based professional association, the prevalence of myopia was high, with the majority of respondents (81%) having difficulties seeing objects at a distance, and shortsightedness being the most prevalent diagnosis (40% of those who have had their eyesight evaluated by an optometrist). Therefore, the growing incidence of vision impairment is driving the growth of the eye health supplement market.
Product innovations are a key trend gaining popularity in the eye health supplement market. Major companies in the eye health supplement market are developing advanced products to sustain their position in the market. For instance, in September 2022, Entod Pharma, an India-based pharmaceutical company, launched Eyecirque in collaboration with ENTOD Beauty, a UK-based medical and cosmetic dermatology research lab. The Eyecirque under-eye skin brightening supplement is a distinctive blend of essential antioxidants, vitamins, and minerals proven to be necessary. It also provides the under-eye area with adequate nutrition and nourishment.
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Major Key Players of the Market:
Bristol-Myers Squibb Company, Alcon Inc., Amway Corporation, Herbalife Nutrition Ltd., Bausch & Lomb Incorporated, Kemin Industries Inc., The Nature's Bounty Co., Swanson Health, Alliance Pharma plc, OmniActive Health Technologies, Life Extension, Performance Lab Ltd., ProCaps Laboratories, Nuzena LLC, Vitabiotics Ltd., Nordic Naturals, ZeaVision LLC, Algatechnologies, Zenith Labs, Vita Balance Inc., Biosyntrx Inc., Allied BioNutrition Corporation, Codeage, EyeScience Labs, Healths Harmony USA Supplements LLC, Nutrivein, NutraChamps
Eye Health Supplements Market 2024 Key Insights:
• The eye health supplements market size is expected to see strong growth in the next few years. It will grow to $2.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%.
• Rising Incidence Of Vision Impairment Propels Growth In The Eye Health Supplement Market
• Innovative Eyec Supplement For Under-Eye Skin Brightening
• North America was the largest region in the eye health supplements market in 2023
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