Eyewear are accessories that are worn over the eyes for the correction of the vision, embellishment or protection of the eyes from the harmful UV rays present in the sunlight. The material that is generally used to manufacture the eye frames are plastic or metal, depending upon their requirements. Over the years, the demand for various eye care products has been increasing on account of rising awareness regarding UV exposure dangers and increasing number of visual deficiencies. According to IMARC Group’s latest report, titled “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023", the global eyewear market was valued at US$ 109 Billion in 2017.
The rising standard of living and exposure to electronic gadgets are expected to boost the demand for spectacles and contact lenses, thereby driving the eyewear market growth. Increasing awareness regarding the significance of appropriate eye protection is further expected to stimulate the sales of these products. Additionally, the growing consumer preferences for luxury and premium products will encourage the manufacturers to invest in the development and marketing of technologically advanced eyewear, leading to higher profit margins for them. Looking forward, the market projected to exceed a value of US$ 167 Billion by 2023, growing at a CAGR of 7.4% during 2018-2023.
The report has segmented the market on the basis of product type, including spectacles, sunglasses and contact lenses. Amongst these, spectacles account for the majority of the market share. The market further has been analysed on the basis of gender, wherein men represent the major consumers. The market has also been assessed on the basis of distribution channels, covering optical stores, independent brand showrooms, online stores and retail stores. Region-wise, Europe represents the largest market followed by North America and Asia Pacific. Other major regions include Middle East and Africa, and Latin America. The leading players in the global eyewear market include Luxottica, Essilor, Johnson & Johnson Vision Care, Safilo and Alcon.
This report provides a deep insight into the global eyewear market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the eyewear industry in any manner.
Key Questions Answered in This Report:
- How has the global eyewear market performed so far and how will it perform in the coming years?
- What are the key regions in the global eyewear market?
- Which are the popular product types in the global eyewear market?
- What are the price trends of eyewear?
- What are the key driving factors and challenges in the global eyewear market?
- What is the structure of the global eyewear market and who are the key players?
- What is the degree of competition in the global eyewear market?
- How is eyewear manufactured?