Eye Health Ingredients Market Overview
The hectic and busy schedule followed by exposure to toxic materials has increased the number of populations suffering from unhealthy vision, which has, in turn, increased the demand for eye health ingredients. The eye health ingredients protect the eye from UV radiation, eliminate free radicals, and enhance vision. The most used eye health ingredients are lutein, zeaxanthin, beta-carotene, astaxanthin, and others. They are the major source of providing healthy vision to human sight.
Market Forecast
Diseases of the eyes are a major issue for people of all ages. The global eye health ingredients market is growing due to an increasing population with eye health issues such as cataracts, glaucoma, diabetic retinopathy, Age-Related Macular Degeneration (AMD), and others.
The use of eye health ingredients in a variety of industries, including medicines, supplements, beverages, oils and fats, bakery and confectionery, dairy and frozen desserts, and others, is fuelling market expansion. Furthermore, increased spending on nutritional products is feeling the market for eye health additives. Certain adverse reactions induced by inappropriate use of eye health substances, on the other hand, may stifle the market's growth. Nonetheless, all of these factors are expected to contribute to the eye health ingredients market's predicted CAGR of 6.2 percent from 2017 to 2023.
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Downstream Analysis
Based on the type, eye health ingredients are segmented into lutein, zeaxanthin, beta-carotene, astaxanthin, and others. Among all, lutein is dominating the market followed by zeaxanthin and beta-carotene. Lutein is high in efficiency and effectiveness in low dosages, which is driving the growth of this segment compared to others. Moreover, it has gained an increased demand for infant supplements to overcome vision deficiency among children.
Based on the application, the eye health ingredients are segmented into pharmaceuticals, supplements, beverages, oils and fats, bakery and confectionery, dairy and frozen desserts, and others. Among all, the supplements segment is dominating the market. However, the high application of eye health ingredients in pharmaceuticals is expected to surge the growth of the pharmaceutical segment in the coming years.
Competitive Analysis
The major players in the Eye Health Ingredients Market
- Allied Biotech Corporation (Taiwan)
- DSM (The Netherlands)
- BASF SE (Germany)
- FMC Corporation. (the U.S.)
- AIDP Inc. (U.S.)
- BI Nutraceuticals (U.S.)
- BLUE CALIFORNIA (U.S.)
Regional Analysis
The global eye health ingredients market is segmented into North America, Europe, Asia Pacific, and the rest of the world (RoW). North America is dominating the market followed by Europe. Low vision, blindness, and various vision health problems are increasingly observed in North America which is boosting the market for eye health ingredients market in this region. In Europe, U.K. and Germany are the major contributors to the eye health ingredients market.
The Asia Pacific is projected to witness steady growth in the forecast period based on consumer preference towards a healthy lifestyle in developing countries such as India and China. Moreover, the inclination of health-conscious consumers towards the consumption of functional foods will lead to moderate growth in the rest of the world over the forecast period.
Market Segmentation
Eye Health Ingredients Market is segmented based on type, application, and region.
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