Eye health ingredients market is led by human consumption due to rise in number of vision issues in early age. Rising surgery expenses has enhancing the customers towards OTC supplements to avoid heavy expenses on surgeries. —
The U.S. eye health ingredients market is estimated to worth more than USD 60 billion by 2024. Extensive research & development spending coupled with increasing product launches will propel the industry demand in this region.
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Asia Pacific will witness significant growth at 6.5%. Growing retail sector including pharmacy and drugstores along with expansion in the e-commerce industry will comply the business growth.
Europe eye health ingredients market will generate over 530 tons volume up to 2024. High consumer spending on medicines and pharmaceuticals will fuel regional demand. Increasing geriatric population particularly in the Russia are the key factors driving the industry growth.
Eye health ingredients market from natural sources will witness gains over 6% up to 2024. Increasing consumer preference for naturally sourced products will enhance the product demand. Increasing consumer awareness regarding consumption of chemically synthed product and its side effects will fuel the industry growth.
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Lutein eye health ingredients Market will observe growth around 6.5% up to 2024. Increasing demand from infant formula products and formulated supplementary food will enhance the industry . Lutein is widely used with other valuable components including blueberry extracts, antioxidants and vitamins A, B, C, E as a basis of omega-3 fatty acids, anthocyanins and minerals.
Capsule, soft gels & tablets accounted for around 40% of the overall industry share in 2016. Increasing preference due to reduced side effects including stomach ache along with ease in consumption properties has encouraged the product consumption.
Increasing product usage in the treatment of Age-Related Macular Degeneration (AMD) has enhanced the product scope. As per AMD Alliance International, globally around 26 to 32 million people are suffering from AMD.
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Increased customer spending on nutritional products along with regulatory support for vision improving supplements has positively influenced the industry growth. Rising aging population across the world will drive the eye health ingredients market revenue. Increased launches of the dietary supplements by the industry players based on the consumer requirement will support the product demand.
Increased adoption of medical supplements owing to increasing consumer health consciousness has propelled the industry demand. However, high price and limited availability of the product may hinder the industry market.
Global eye health ingredients market share is fragmented due to presence of substantial number of regional manufacturers. The major players include Allied Biotech, FMC, BASF and DSM. Few prominent vendors include Alcon, Solgar, Bausch & Lomb, Efamol, Amway and MacuShield.
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 88889919