The eye health supplements market was valued at US$ 1,572.33 million in 2019 and is projected to reach US$ 2,382.96 million by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
Increasing prevalence of eye diseases and rising number of geriatric population are among the major factors fueling the growth of this market. Moreover, increasing industrial developments are expected to foster market growth during the forecast period. However, the high cost of eye health supplements and lack of product availability hinder the growth of the eye health supplements market. Additionally, the APAC countries are facing challenges due to the rising incidences of COVID-19. As per the data of Worldometer, the total number of COVID-19 cases stood at 5,739,512 in APAC on August 17, 2020. The COVID-19 pandemic has accelerated the dependency on digital devices and consumers are becoming aware of the effects of prolonged use of these devices such as mobile and laptops. Due to these factors millennials are spending more on eye supplements.
Eye supplements are nutritional products that help maintain eye health and good vision. The eye health supplements prominently comprise vitamin A, lutein and zeaxanthin, omega-3 fatty acids, gamma-linolenic acid, and others. These nutritional supplements help sustain eye function, reduce the development of age-related eye diseases, and protect eyes from harmful radiations.
The global eye health supplements market is segmented by ingredient type, indication, and form. Based on ingredient type, the market is segmented into lutein and zeaxanthin, antioxidants, omega-3 fatty acids, coenzyme Q10, flavonoids, astaxanthin, alpha-lipoic acid, and others. The lutein and zeaxanthin segment held the largest share of the market in 2019. However, the flavonoids segment is anticipated to register the highest CAGR during the forecast period. Based on indication, the eye health supplements market is segmented into age-related macular degeneration (AMD), cataract, dry eye syndrome, and others. The age-related macular degeneration (AMD) segment held the largest share of the market in 2019. However, the dry eye syndrome segment is anticipated to register the highest CAGR during the forecast period. Based on form, the eye health supplements market is segmented into tablet, capsule, and drops. The capsule segment held the largest share of the market in 2019 and is estimated to grow at the fastest CAGR during 2020-2027.
The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and American Academy of Ophthalmology are a few primary and secondary sources that were studied while preparing this report.