Market Overview
Hectic and busy schedule followed by exposure to toxic materials have increased the number of population suffering from unhealthy vision, which has, in turn, increased the demand for eye health ingredients. The eye health ingredients protect eye from UV radiation, elimination of free radicals, and enhances vision. The most commonly used eye health ingredients are luthein, zeaxanthin, beta-carotene, astaxanthin, and others. They are the major source of providing healthy vision to human sight.
Market Forecast
Eye health diseases are a major concern among all age grouped population. Increasing population with eye health problems such as cataract, glaucoma, diabetic retinopathy, Age-Related Macular Degeneration (AMD) and others is driving the growth of the global eye health ingredients market.
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Application of eye health ingredients in various industries such as pharmaceuticals, supplements, beverages, oils and fats, bakery and confectionery, dairy and frozen desserts, and others is further boosting the growth of the eye health ingredients market. Moreover, large spending on nutritional products is adding fuel to the growth of the eye health ingredients market. However, certain allergic reactions caused due to improper consumption of eye health ingredients may hamper the growth of eye health ingredients market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of eye health ingredients market during the forecast period 2017-2023.
Downstream Analysis
On the basis of the type, eye health ingredients are segmented into luthein, zeaxanthin, beta-carotene, astaxanthin, and others. Among all, luthein 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 in infant supplement 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, high application of eye health ingredients in pharmaceuticals is expected to surge the growth of 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. (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 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 eye health ingredients market.
Asia Pacific is projected to witness steady growth in the forecast period based on consumer preference towards healthy lifestyle in developing countries such as India and China. Moreover, inclination of health conscious consumers towards consumption of functional foods will lead to moderate growth in rest of the world over the forecast period.
Market Segmentation
Eye Health Ingredients Market is segmented on the basis of type, application and region.
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