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Frost & Sullivan: Ageing Population and Availability of Preventative Medicines Propels Growth of European Eye Health Ingredients Market
Date:3/9/2009

LONDON, March 9 /PRNewswire/ -- Rising numbers of baby boomers with eye-ailments and soaring medical costs are causing European consumers to demand innovative diet supplements to protect their eyes and curb any potential eye care-related expenses. The ability of supplements to alleviate blinding diseases such as age-related macular degeneration and glaucoma has opened up lucrative growth avenues in the market.

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New analysis from Frost & Sullivan (http://www.food.frost.com), European Eye Health Ingredients Market, finds that the market earned revenues of $43.4 million in 2007 and estimates this to reach $87.4 million in 2014. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: lutein, beta-carotene, zeaxanthin, astaxanthin, bilberry and others.

If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an e-mail to Katja Feick, Corporate Communications, at katja.feick@frost.com, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.

"The rising prevalence of lifestyle-linked eye diseases has caused the global food ingredients market to leverage the consumer's need to protect their eyes through enhanced nutrition," says Frost & Sullivan Research Analyst Natasha Telles. "The focus on eye health has become a primary concern in today's health conscious food industry."

"The market for eye health ingredient products is in its infancy and the timing is right to initiate the successful development of this market," notes Telles. "Strategically positioned brands and rising consumer awareness will push participants in the eye health ingredients market into the right commercial arena, while focusing on their health benefits."

The sustained development of world economies in the last few decades has raised current standards of living and average life expectancy significantly, particularly in Europe. However, extended life spans have brought with it the threat of age-related illnesses, such as dementia, cardiovascular disease and blindness.

Eye health is a key component of a healthy life and the market for eye health ingredients witnessed growth in 2007, spurred by the incidence of eye-diseases such as glaucoma, age-related macular degeneration, cataracts and childhood blindness.

As a result of the scale of visual impairment problems, many consumers are making lifestyle changes, switching to nutrient-rich diets that will aid in protecting visual acuity, preventing cataract and blindness and safeguarding their eyesight from harmful exposure to ultraviolet rays.

Since 2007, the European market for eye health ingredients has been dominated by antioxidants. Key eye health ingredients in use in 2007 included lutein, beta-carotene and zeaxanthin.

However, the market is faced with obstacles such as varying regulations that are hampering eye health claims, threats of substitution and the lack of market credibility. Fluctuating prices and constant price erosion due to competition from Asian manufacturers are further constraining the market. Asian manufacturers offer economical raw material sources and lower exchange rates, with their European counterparts unable to compete in terms of pricing.

Growth of this market ultimately depends on overcoming obstacles such as variant regulation, substitution threats and the impact of fluctuating economies and prices. Legislation, in particular, is a pertinent challenge for manufacturers as such a scenario results in ambiguous legislative requirements. For instance, eye health ingredients such as lutein and astaxanthin are not covered in the positive list of the food supplement directive and are awaiting the results in 2010. This presents a setback for smaller companies populating a large portion of this market. The situation is uncertain due to the framework for ingredients being in various modes of commercialisation. Low consumer awareness remains a major challenge for manufacturers attempting to do business in the European eye health ingredients market. Moreover, European legislation regarding supplement ingredients remains mired in uncertainty as the region awaits the 2010 decision.

One strategy to counter low consumer awareness will be to consult with industry associations such as the Alliance for Natural Health, the National Eye Institute and the Royal institute of the Blind. Such associations would view these ingredients from a public perspective and form an impartial ledge in the supply chain. Additionally, in an increasingly competitive industry, it is imperative to have valid proof of the mechanism of action of the natural ingredients being supplied and their beneficial effects on the eyes. Such differentiation can only be achieved through validated research studies.

"European consumers are generally well-informed, as nutrition plays a big role in the purchasing behaviour of end users," notes Telles. "European manufacturers should focus on educating consumers, which will be an essential criterion in this market, especially for emerging extracts such as zeaxanthin, where greater consumer demand results in a rise in supply."

European Eye Health Ingredients Market is part of the Food & Beverage Ingredients Growth Partnership Service programme, which also includes research in the following markets: European Functional Beverages Market, European Heart Health Ingredients Market, and the European Infant Nutrition Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan has expanded its flagship Global Congress on Corporate Growth - GIL Global - into several major cities around the world including London. For the first time ever in Europe, Frost & Sullivan will be hosting the Growth, Innovation and Leadership Congress 'GIL 2009: Europe' on 19-20 May, at the Sofitel St James in London. GIL Global is the industry's only event designed to support senior executives in their efforts to achieve sustainable, top-line growth. To register, obtain a programme agenda, explore sponsorship opportunities, or attend as a member of the media for GIL 2009: Europe, please contact Katja Feick, Corporate Communications Europe, at katja.feick@frost.com. One-on-One interviews with Frost & Sullivan senior growth consultants are also being scheduled. For more information you can also visit http://www.frost.com/gilglobal

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.

European Eye Health Ingredients Market

M2E4

    Contact:
    Katja Feick
    Corporate Communications - Europe
    P: +49 (0) 69 7703343
    E: katja.feick@frost.com


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