Eye Health Ingredients Market Poised to Grow at A CAGR Over 6.2% during the forecast period
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 share.
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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 share. Moreover, large spending on
nutritional products is adding fuel to the growth of the eye health ingredients
market share. However, certain allergic reactions caused due to improper
consumption of eye health ingredients may hamper the growth of eye health
ingredients market share. Nevertheless, all these factors are projected to
contribute to the estimated CAGR of 6.2% of eye health ingredients market share
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 share
- 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 share 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
share in this region. In Europe, U.K. and Germany are the major contributors to
eye health ingredients market share.
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 share is segmented on the basis of type,
application and region.
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Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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