Eyewear Market 2022 Industry Research, Segmentation, Key Players Analysis and Forecast to 2032

 

During the forecast period, thedemand for eyewearis expected to increase at a CAGR of 6%, from US$ 114.95 billion in 2021 to US$ 172.42 billion in 2028.

In recent years, the global eyewear market share has seen significant expansion, particularly in Asia-Pacific rising markets like India and China. An increase in the number of cases of visual impairment and eye issues, as well as a desire to keep up with the latest fashion trends, is driving the worldwide eyewear market.

Anything worn to protect or correct vision is considered eyewear. Depending on the quality, size, material, and frame, it could be of several varieties. Globally, there is an increasing need for eyewear. People are becoming more educated about the value of routine eye exams and checkups. As a result, there is a rising need for corrective eyewear, such as contact lenses and eyeglasses. A lot of people also wear it because it suits them well or to make a fashion statement.

Eyewear Market Segmentation

The global eyewear market can be segmented into spectacles, contact lenses and sunglasses. Spectacles, which includes frames as well as lenses, are the preferred choice for visual inaccuracies such as hyperopia and myopia. Frames cost significantly more than the lenses, but their replacement rate is lesser. Frames can be made of different materials like nylon, plastic, metal, etc. Contact lenses can be of two types, soft contact lenses: which are easily adaptable to the eyes, and rigid gas permeable lenses: which is mainly used for correcting astigmatism.

Contact lenses are also used for cosmetic purposes or to look glamorous (example colored contact lenses). Great care should be taken while wearing lenses and they should be changed when required, or else it can lead to a condition known as contact lens-induced acute red eye (CLARE).

Globally, the demand for eyewear market is robust in North America. Europe and Asia Pacific are the other dominant regions for the eyewear market. It is anticipated that the eyewear market will witness steady growth in these regions in the future as well.

Eyewear Market Dynamics

The growth is expected to be driven by lifestyle changes due to growing urbanization, acceptance of eyewear products, high number of individuals using corrective eyewear, increased usage of silicon hydrogel, and growing ageing population. The growth of the industry can be hindered by price differentiation between branded and unbranded frames, sale of illegal novelty contact lenses, and the challenging local conditions in various countries.

Eyewear Market: Key Players

Major players in the industry are Carl Zeiss AG, Essilor, Luxottica, Safilo Group, Acuvue, and Crizal. Distribution channels include retail chains, independent stores, drugstores, mass merchandisers as well as specialty stores. Notable retail stores include Sunglass Hut, Oliver Peoples, Sun Planet and Sunglass Icon.

This research report presents a comprehensive assessment of the eyewear market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.

The report covers exhaustive analysis on:

• Eyewear Market Segments
• Eyewear Market Dynamics
• Historical Actual Market Size, 2012–2014
• Eyewear Market Size & Forecast 2015 to 2025
• Supply & Demand Value Chain
• Eyewear Market Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain
• Eyewear Market Drivers and Restraints

Regional analysis for Eyewear Market includes

• North America
• US & Canada
• Latin America
• Brazil, Mexico, Others
• Western Europe
• EU5
• Nordics
• Benelux
• Eastern Europe
• Asia Pacific
• Australia and New Zealand (ANZ)
• Greater China
• India
• ASEAN
• Rest of Asia Pacific
• Japan
• Middle East and Africa
• GCC Countries
• Other Middle East
• North Africa
• South Africa
• Other Africa

Information Source:
https://www.futuremarketinsights.com/reports/eyewear-market