The global eye care supplement market is on the brink of substantial growth, with leading market analysis authority, FMI, forecasting a valuation of USD 2,457.5 million by 2024. This surge is propelled by burgeoning consumer demand for eye care supplements, driven primarily by consumer convenience. FMI projects a sustained growth trajectory for the market, with a projected compound annual growth rate (CAGR) of 6.5% from 2024 to 2034. This trajectory is expected to culminate in an estimated valuation of approximately USD 4,613.0 million by 2034.
A key catalyst driving this growth is the remarkable advancements in supplement delivery systems. Technologies such as nanoemulsions and encapsulation have revolutionized the industry, significantly enhancing the bioavailability of essential nutrients. These innovations translate into improved effectiveness of eye care supplements, bolstering consumer confidence and propelling market expansion.
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“The eye care supplement market is witnessing a transformative phase, fueled by technological innovations and shifting consumer preferences,” remarked a spokesperson from FMI. “Consumers are increasingly seeking convenient and effective solutions to support their eye health, driving demand for advanced supplement formulations.”
With eye health becoming a growing concern globally, consumers are increasingly turning to supplements as a proactive measure. The market’s growth is further fueled by rising awareness about the importance of preventive eye care and the prevalence of age-related eye conditions.
FMI’s comprehensive analysis underscores the potential for significant expansion in the eye care supplement market. As technological advancements continue to drive innovation, the market is poised to witness sustained growth in the coming years.
Key Takeaways from the Market Study:
- Global eye care supplement market was valued at USD 2,301.8 million by 2023-end.
- From 2019 to 2023, the market demand expanded at a CAGR of 6.0%.
- The market in the United States is expected to expand at a CAGR of 7.0% through 2034.
- By dosage form, the tablet segment to account for a share of 21.5% in 2024.
- From 2024 to 2034, eye care supplement market is expected to flourish at a CAGR of 6.5%.
- By 2034, the market value of eye care supplement is expected to reach USD 4,613.0 million.
Technology integration, such as mobile apps for tracking eye health and supplement adherence, can create new avenues for consumer engagement and product differentiation, opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).Top of Form
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Key Companies Profiled:
- Novartis AG
- Bausch & Lomb Incorporated
- Amway Corp.
- Vitabiotics Ltd.
- Alliance Pharma
- The Nature’s Bounty Co
- ZeaVision, LLC.
- Akorn Consumer Health
- Eyescience Labs
- Kemin Industries Inc.
- NutraChamps
- Nutrivein
- Biosyntrx Inc
- Nordic Naturals Inc.
- Bristol-Myers Squibb Company
- Healths Harmony LLC
- NUSAPURE
- Vitabiotics Ltd.
- EyeScience
- Butterflies Healthcare Ltd.
- Allergan plc
- Herbalife Nutrition Ltd.
Recent Developments:
- In 2023, Bausch + Lomb Corporation announced the release of PreserVision® AREDS 2 Formula soft gels with added coenzyme Q10. Designed as a convenient two in one solution, PreserVision AREDS 2 Formula eye vitamins, combined with CoQ10, stand as the sole eye vitamin integrating the precise nutrient formula endorsed by the National Eye Institute. The combination aims to reduce the risk of moderate to advanced progression of Age related Macular Degeneration while also supporting heart health.
- In 2022, Wellbeing Nutrition, a prominent research based wholefood nutrition company in India, unveiled Melts Eye Care, which is an all natural eye vitamin.
Segmentation Analysis of the Eye Care Supplement Market:
By Ingredients:
- Lutein and Zeaxanthin
- Antioxidants
- Omega 3 Fatty Acids
- Coenzyme Q10
- Flavonoids
- Astaxanthin
- Alpha Lipoic Acid
- Others
By Dosage Form:
- Tablet
- Capsules
- Gels
- Liquid
- Gummies
By Route of Administration:
- Oral
- Topical
- Parental
By Indication:
- Age Related Macular Degeneration
- Cataract
- Dry Eye Syndrome
- Glaucoma
- Others
By Distribution Channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- Ophthalmic Stores
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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