IMARC Group, a leading market research company, has recently releases report titled “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global eyewear market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the eyewear market?
The global eyewear market size reached US$ 149.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 222.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
What is an eyewear?
Eyewear refers to articles and accessories worn in front of or on the eyes, primarily designed to correct vision, protect the eyes, or enhance facial aesthetics. From prescription glasses that address visual impairments to sunglasses that shield the eyes from harmful ultraviolet (UV) rays, eyewear plays a crucial role in daily human activities and health. It is also available as safety goggles used in industrial settings to guard against debris and chemical splashes and as sports eyewear designed to provide protection during high-impact activities. Besides being a functional tool, eyewear has also evolved into a significant fashion accessory in recent years, with numerous brands, designs, and materials available to cater to individual style preferences. The diversity of materials used in the manufacturing of eyewear, from traditional glass to lightweight polymers, ensures durability, comfort, and optical clarity. As a result, eyewear has gained immense popularity across the globe, serving as a bridge between health, safety, and fashion while providing both utility and a statement of personal style.
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Eyewear Industry Trends and Drivers:
The global eyewear market is primarily driven by the increasing prevalence of visual impairments due to numerous factors, such as prolonged screen time and an aging population worldwide, which has amplified the demand for corrective eyewear. Moreover, the growing awareness about the importance of regular eye check-ups and timely correction of vision issues has accelerated the adoption of prescription glasses. Additionally, as global exposure to harmful UV rays intensifies owing to environmental factors, there has been an increase in the adoption of sunglasses for protective purposes. Besides this, fashion dynamics also play a significant role, making eyewear an indispensable accessory, with consumers frequently updating their collections to keep up with the latest trends. This inclination toward fashionable frames and sunglasses ensures constant market refreshment. Furthermore, continuous advancements in technology have paved the way for innovative eyewear solutions, such as blue-light filtering glasses, which cater to the digital age’sage’s unique needs. In line with this, the emerging sustainability trends and rising environmental consciousness among the masses are positively influencing market growth, with a higher demand for eco-friendly frames made from recyclable or biodegradable materials. Apart from this, several eyewear brands are offering personalized solutions, allowing customers to customize lens types, frame designs, and other features to suit their needs and preferences. This, coupled with the rapid proliferation of e-commerce platforms, is propelling market growth as they offer the convenience of trying on virtual frames and home trials, making online shopping for eyewear more appealing. Other factors, including the expanding range of kids’ eyewear, rising adoption of multifunctional eyewear, rising brand endorsements and collaborations, inflating consumer disposable incomes, and innovations in eyewear materials, are also creating a favorable market outlook.
The report has segmented the market into the following categories:
Breakup by Product:
- Contact Lenses
Breakup by Gender:
Breakup by Distribution Channel:
- Optical Stores
- Independent Brand Showrooms
- Online Stores
- Retail Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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Who are the key players operating in the industry?
The report covers the major market players including:
- Luxottica Group S.p.A.
- Essilor International SAS
- Johnson & Johnson Vision Care, Inc.
- Safilo Group S.p.A.
- Alcon Vision LLC
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