Eyewear Market Size, Share, Growth, Trends and Forecast 2020-2025

Press Release:

Global Eyewear Market to Cross US$ 141 Billion by 2024, Stimulated by Development of Improved Products

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Eyewear Market Overview:

The global eyewear market reached a value of US$ 123 Billion in 2019. Eyewear products are generally worn for vision correction and protecting the eyes from excessive light, debris or harmful radiation. The frames and lenses of these products are mainly produced using plastic and glass. Currently, the global demand for good-quality eyewear products is being augmented by increasing prevalence of hypermetropia and myopia at young ages. In developing nations, improving lifestyles, urbanization and availability of advanced eyewear products are positively impacting the market growth. On the other hand, increasing exports and product innovations are supporting eyewear market across developed regions. Looking forward, IMARC Group expects the global eyewear market to exhibit moderate growth during 2020-2025.

Global Eyewear Market Drivers:

At present, both government and non-government organizations are conducting campaigns and programs to spread awareness about the treatments available for eyesight problems. Increasing awareness amongst consumers act as a primary factor for the growth of the eyewear market.
With an increase in eye-related diseases like cataract, there has been a substantial rise in the demand for prescription-based eyeglasses. Moreover, changing fashion trends have prompted manufacturers to introduce improved optical designs, materials, and enhanced coatings.
The demand for eyewear products can be attributed to a rise in the cases of computer vision syndrome (CVS) which is caused by prolonged exposure to a computer or other display device. The occurrence of this disorder is generally noted in the working population experiencing dry, red eyes, blurred vision, eye irritation, headache and double vision.
In order to uplift their social status, consumers prefer to purchase high-end eyewear products. In addition, improving purchasing power of consumers in the emerging markets has enabled them to buy premium products which is further elevating the growth of the global eyewear market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global eyewear market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, Product, Gender, Distribution Channel.

Breakup by Product:

Spectacles
Sunglasses
Contact Lenses

Spectacles represent the most commonly owned eyewear product, accounting for around three-fourths of the total market share. Technological advancements and increasing dependence upon gadgets and electronic devices have led to a rise in eyesight disorders, thereby resulting in an increased demand for spectacles.

Breakup by Gender:

Men
Women
Unisex

Currently, unisex eyewear products are the leading segment and account for a share of two-thirds of the total market. Generally, sunglasses are more popular in unisex styles as compared to regular prescription eyeglasses.

Breakup by Distribution Channel:

Optical Stores
Independent Brand Showrooms
Online Stores
Retail Stores

Amongst these, retail stores represent the most common distribution channel as they offer both branded and generic eyewear products, depending upon the purchasing power of the consumers.

Regional Insights:

Europe
North America
Asia Pacific
Latin America
Middle East and Africa

On a geographical front, Europe represents the biggest eyewear market, accounting for the majority of the total market share. This can be accredited to growing preference for premium eyewear products as well as rising focus of manufacturers on the development of new designs, shapes and sizes of eyewear products.

Competitive Landscape:

The global eyewear market is fragmented in nature with the presence of several small and large manufacturers. Some of the leading players operating in the market are:

Luxottica
Essilor
Johnson & Johnson Vision Care
Safilo
Alcon

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?
What has been the impact of COVID-19 on the global eyewear market?
Which are the popular products in the global eyewear market?
What are the key distribution channels in the global eyewear market?
What are the major gender segments in the global eyewear market?
What are the various stages in the value chain of the global eyewear market?
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 are eyewear products manufactured?