Eyewear Market Demand, Size, Share, Trends, Demand Forecast 2032

Eyewear Market: Industry Perspective

The global eyewear market size was worth around USD 174.97 billion in 2023 and is predicted to grow to around USD 300.66 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.20% between 2024 and 2032.

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Eyewear Market Overview

Eyewear is one which wears to protect the eyes or to correct the vision. It consists of items and accessories used to aid in vision correction, cosmetic enhancement, and protection of the eyes. These products are worn to correct and alleviate refractive errors. Rising prevalence of rapid modernization in urban areas, acute myopia at younger ages, and rising consciousness about eye health conditions across the world is anticipated to drive the growth of the eye market globally. The report covers forecasts and analysis for the eyewear market on a global and regional level. The study provides historical data for 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints for the eyewear market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the eyewear market on a global level.

Eyewear Market Growth Dynamics

According to WHO in 2023, around 375 million people had vision impairment of which 55 million were blind and millions had moderate to severe vision impairment, globally. The increasing use of computers and smartphones has resulted in rising cases of computer vision syndrome (CVS) caused due to focusing the eyes on a computer or other display devices for a long period of time. This is one of the factors driving the growth of the eyewear market. Apart from this the changing fashion trends and availability of new lens technologies is expected to fuel the market growth. However rising awareness and implementation of techniques for vision correction such as LASIK treatment in addition to PRK (Photorefractive Keratectomy) are major restraints that could hamper the growth of eyewear market.

In order to give the users of this report a comprehensive view of the eyewear market, we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product type segment and distribution channel segments are benchmarked based on their market size, growth rate, and general attractiveness.

The report provides a company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, research & development, technology and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers price trend analysis, and the product portfolio of various companies according to the region.

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The study provides a decisive view of the eyewear market by segmenting the market based on product type, distribution channel, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024  to 2032. Based on product type the market is segmented into spectacles, sunglasses, contact lenses and sportswear. Based on distribution channel the market is segmented into optical stores, independent brand showrooms, online stores and retail stores.

Eyewear Market: Report Scope

Regional Analysis

North America and Europe hold the leading position in the global eyewear market. The high disposable income of people in these regions has aided toward the market’s growth. While eyewear is mostly available with a higher price tag in developed economies, the fondness of consumers toward procuring premium commodities is supporting the market’s growth. Asia Pacific is projected to be the fastest growing region in the eyewear market in terms of CAGR over the forecast period.  The reason is raising penetration of international eyewear brands such as Rayban, Dior, and D&G in this region. Apart from this, the large population suffering from visual defects coupled with a low usage of any visual correction aids provides the manufacturers with a huge untapped market for growth.

Eyewear Market: Competitive Analysis

The global eyewear market is dominated by players like:

• Carl Zeiss
• Bausch & Lomb
• Charmant Group
• CIBA Vision (Alcon)
• Chemilens
• Daemyung
• Cooper Vision
• Fielmann
• Essilor International
• Hoya
• Johnson & Rodenstock
• Johnson Vision Care Seiko
• De Rigo SpA.
• Luxottica Group
• Marchon
• Marcolin
• Safilo Group

This report segments the global eyewear market as follows:

Global Eyewear Market: Product Type Segment Analysis

• Spectacles
• Sunglasses
• Contact Lenses
• Sportswear

Global Eyewear Market: Distribution Channel Segment Analysis

• Optical Stores
• Independent Brand Showrooms
• Online Stores
• Retail Stores

Global Eyewear Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa