Eye Health Supplements Market Size, Share & Trends Analysis Report By Ingredient Type, By Indication (AMD, Cataract, Dry Eye Syndrome, Inflammation), By Formulation, By Region, And Segment Forecasts, 2020 - 2027

Report Overview 

The global eye health supplements market size was valued at USD 1.5 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2020 to 2027. The growing incidences of vision impairment and rising myopic population, particularly during the COVID-19 pandemic, owing to an increased usage of screens and joining virtual meetings while working from home, is one of the key factors driving the market. High myopia can be attributable to an increased risk of various progressive eye disorders such as cataracts, glaucoma, and age-related macular degeneration. Increasing preference for eye health supplements among the older group of individuals and millennials highly prone to digital eye fatigue and myopia is further driving the market worldwide. An increase in the prevalence of various eye conditions including Age-related Macular Degeneration (AMD), dry eye syndrome, cataracts, and inflammation along with the glowing recommendation for eye health supplements by ophthalmologists for the prevention and treatment of these disorders is further driving the market. 

According to the WHO, around 2.2 billion individuals across the globe in 2019 have been registered with vision impairment or blindness. Low and middle-income countries such as South Asia and western and eastern sub-Saharan Africa have been reported to witness eight times higher rates of blindness as compared to the high-income countries. Particularly in low and middle-income countries, women are expected to have a higher incidence of eye disorders such as cataracts and AMD. Consumers in developed countries, such as the U.S., Canada, Australia, and the U.K., have high per-capita expenditures, thus registering high spending on healthcare products, including eye health supplements, which contributes to market growth. Moreover, increasing demand for Lutein and Zeaxanthin supplements and bilberry extract supplements for eye health and convenient access to these supplements via direct sales and e-commerce platforms is driving the market.

Moreover, the increasing launch of eye health supplements in order to cater to the unmet demand from 1.0 billion unaddressed individuals suffering from vision impairment worldwide is projected to deliver robust growth in the market. This, in turn, is expected to further drive the sales of eye health supplements in the near future. For instance, Bausch + Lomb, in October 2019, launched its eye health supplement - PreserVision AREDS 2 Formula mini gel eye vitamins in the U.S. The PreserVision AREDS 2 Formula mini gel is an easier-to-swallow alternative for the company’s PreserVision AREDS 2 Formula soft gels, indicated for advanced AMD. 

Moreover, the presence of a strong sales channel and distribution network for these supplements contributes significantly to market growth. As per a study published by NutraIngredients, owing to the COVID-19 situation, the online sales of eye health supplements have increased drastically to approximately 48.3% in the past few months.

Ingredient Type Insights

Lutein and Zeaxanthin ingredients for eye health supplements accounted for the largest revenue share of 31.2% in 2019. Increasing awareness regarding the benefits offered by Lutein and Zeaxanthin supplements in the prevention and effective treatment of various eye disorders, majorly AMD, diabetic retinopathy, uveitis, and cataract, is attributing to the significant segment growth. Moreover, the rising prevalence of eye disorders, mainly AMD, and the glowing recommendation for these supplements by ophthalmologists, clinicians, and vision scientists is resulting in the growth of the segment.

As per “The Eye Disease Case-Control Study”, it has been witnessed that individuals with the highest intake of Lutein and Zeaxanthin supplements registered a 43.0% reduced risk of developing AMD when compared with individuals having low intakes of these ingredients. As per the National Institutes of Health’s Office of Dietary Supplements, globally the average daily intake of Lutein and Zeaxanthin is estimated to be around 1-3 mg for general eye health, however, in order to reduce the risk of AMD, an average intake of approximately 6-20 mg per day is recommended by eye physicians. Thus, it is highly recommended to add supplements to the regular diet in order to match the daily requirement which is further propelling the market growth. 

However, the flavonoids segment is projected to witness a significant growth rate of 6.8% over the forecast period owing to the rising demand for bilberry supplements among consumers. Bilberry extract, being one of the key eye health supplements, has been extensively used to relieve eye fatigue along with the treatment of various eye disorders of the retina, cataracts, glaucoma, and nearsightedness. The increasing availability of bilberry extract for eye health at affordable rates is driving the adoption of flavonoids as eye health supplements, which in turn, is positively impacting the market growth.

Formulation Insights 

The tablets segment dominated the eye health supplements market and accounted for the largest revenue share of 40.6% in 2019. An increase in preference for eye health supplements in tablet formulation owing to their high availability in various forms such as chewable tablets, sustained-release tablets, and sublingual and buccal tablets, is contributing to segment growth. In addition, factors such as tablets being comparatively cheaper than other supplement forms and their wide acceptance among patients of all age groups are driving the market. In addition, the high shelf life of tablets as compared to powder and liquid forms is another factor driving demand for tablet formulations.

However, the softgels segment is expected to witness a significant growth rate over the forecast period. Soft gels are an effective form to deliver liquid or oil-based supplements. Researchers advocate that supplements delivered in their native form are more effective than modified forms. Additionally, nutrients like fish oil and krill oil are generally encapsulated in softgels to inhibit negative effects that might change the taste and aroma of the oils. Moreover, the high availability of softgel eye health dietary supplements by key brands such as Nature's Bounty, VisionShield, GNC, Viteyes, and NOW at affordable prices is further driving the segment.

Indication Insights

By indication, Age-related Macular Degeneration (AMD) accounted for the largest revenue share of 31.6% in 2019. An increase in the prevalence of AMD worldwide is contributing to segment growth. As per the International Agency for the Prevention of Blindness (IAPB), AMD has been reported to be the third most vital cause of blindness globally and is further reported as the leading cause of blindness among the higher income countries having significant aging populations. In addition, as per BrightFocus Foundation, approximately 11 million U.S. individuals are witnessed to have some form of AMD in 2019, which is projected to double and reach around 22.0 million by 2050 end. The number of individuals having macular degeneration is estimated to reach nearly 196.0 million by 2020, globally, which is further projected to increase to 288.0 million by 2040 end.

However, the dry eye syndrome segment is expected to witness a significant growth rate of 6.6% over the forecast period. Growing recommendation to increase the intake of dietary supplements by around 46.0% of the ophthalmologists in Asian countries to their dry eye patients is one of the key factors driving demand for eye health supplements to treat dry eye conditions, thereby aiding the segment growth. In addition, approximately 60.7% of dry eye patients are consuming Omega-3 fatty acid supplements, as omega-3 has shown evidence of treating dry eye and ocular surface disease in an effective manner.

Regional Insights

In 2019, North America accounted for the highest revenue share of 35.6% in the market. The increasing prevalence of chronic eye disorders, majorly AMD, diabetic retinopathy, glaucoma, and dry eye syndrome, coupled with growing awareness and high availability of commercialized eye health supplements, are some of the key factors attributable to the largest revenue share of the market in North America. In addition, an increase in product launches for eye health supplements in the region is another key factor propelling market growth in North America. For instance, in 2019, Bausch + Lomb launched Ocuvite Eye Performance vitamin supplements in the U.S. in order to meet the increasing needs of U.S. consumers. Also, in 2014, the U.S. registered nearly 45.0% of product launches for eye health supplements.

However, in the Asia Pacific, the market is anticipated to witness a significant growth rate during the forecast period. The presence of a large number of local market players offering innovative and affordable eye health supplements, and emerging contract manufacturing hubs for eye health supplements including China, India, and the Philippines, are factors driving the market in the region. In addition, increasing eye health awareness is also positively impacting market growth in the region. Furthermore, the increasing prevalence of eye-related disorders in Asian countries is expected to be a key driving factor for the market. As per a study published by International Finance Corporation, China is witnessing a 6.0% increase in blindness cases annually, accommodating nearly one-fifth of the world’s blind population in the country.

Key Companies & Market Share Insights 

Key companies are adopting various business strategies including mergers, collaborations, and new product launches to maintain their market share. For instance, in August 2019, the Japanese company Nippon Flour Mills entered into the healthcare business with the launch of its eye and brain flavonoid supplements made of lutein, Ginkgo Biloba, terpene lactone, and zeaxanthin. Some of the prominent players in the eye health supplements market include:

• The Nature's Bounty Co.

• Vitabiotics Ltd.

• Pfizer Inc.

• Amway International

• Bausch & Lomb

• Nutrivein

• ZeaVision LLC

• Kemin Industries, Inc.

• EyeScience

• Nutrachamps

Eye Health Supplements Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research, Inc. has segmented the global eye health supplements market report on the basis of ingredient type, indication, formulation, and region:

• Ingredient Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Lutein and Zeaxanthin

  • Antioxidants

  • Omega-3 Fatty acids

  • Coenzyme Q10

  • Flavonoids

  • Alpha-Lipoic Acid

  • Astaxanthin

  • Other Supplements

• Indication Outlook (Revenue, USD Million, 2016 - 2027)

  • Age-related Macular Degeneration (AMD)

  • Cataract

  • Dry Eye Syndrome

  • Inflammation

  • Others

• Formulation Outlook (Revenue, USD Million, 2016 - 2027)

  • Tablets

  • Capsules

  • Powder

  • Softgels

  • Liquid

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • South Korea

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE