Eye Health Supplements Market Size, Share, Growth Analysis, By Ingredient Type(Lutein and Zeaxanthin, Antioxidants, Omega-3 Fatty acids, Coenzyme Q10), By Indication(Age-related Macular Degeneration, Cataract, Dry Eye Syndrome, Inflammation), By Formulation(Tablets, Capsules, Powder, Softgels), By Region - Industry Forecast 2024-2031

Global Eye Health Supplements Market size was valued at USD 1.79 Billion in 2022 and is expected to grow from USD 1.9 Billion in 2023 to reach USD 3 Billion by 2031, at a CAGR of 5.9 % during the forecast period (2024-2031). 

One of the main drivers of the market is the rising incidence of vision impairment and myopic vision, notably during the COVID-19 pandemic, as a result of increased screen use and participation in online conversations while working from home. High myopia is associated with an increased chance of developing progressive eye illnesses such as cataracts, glaucoma, & age-related macular degeneration. The increasing demand for eye health products among elderly people and millennials who are prone to digital eye fatigue & myopia is boosting the market globally.

An increase in the prevalence of multiple eye conditions such as Age-related Macular Degeneration (AMD), dry eye condition, cataracts, and inflammation, as well as ophthalmologists' glowing recommendations for eye health supplements for the prevention and treatment of these disorders, are driving the market.

According to the WHO, around 2.2 billion people worldwide had vision impairment or blindness. Low and middle-income countries, such as South Asia and western & eastern Sub-Saharan Africa, have been reported to have eight times the rate of blindness as high-income countries. Women are likely to have a higher incidence of eye illnesses such as cataracts and AMD, especially in poor and middle-income nations. Consumers in industrialized countries such as the United States, Canada, Australia, and the United Kingdom have high per-capita expenditures, resulting in high spending on healthcare items such as eye health dietary supplements, that contributes to market growth. Furthermore, growing demand for Lutein & Zeaxanthin supplements, in addition to bilberry extract supplements, for eye wellness, as well the easy access to these supplements via direct sales and e-commerce platforms, are driving the market.

Additionally, the rising launch of eye health supplements to meet the unmet demand from the world's 1.0 billion untreated individuals with vision impairment is expected to drive market expansion. This is projected to boost sales of eye health supplements even higher in the near future. For example, Bausch + Lomb debuted its eye health supplement, PreserVision AREDS 2 Formula micro gel eye vitamins, in the United States in 2020. The PreserVision AREDS 2 Formula micro gel is a more convenient alternative of the company's PreserVision AREDS 2 Formula soft gels, which are intended for advanced AMD.

Furthermore, the presence of a robust sales channel and supply network for these supplements considerably adds to market growth. According to a NutraIngredients survey, due to the COVID-19 crisis, internet sales of eye health supplements have surged dramatically to around 48.3% in the last few months.

US Eye Health Supplements Market is poised to grow at sustainable CAGR for the next forecast year.