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*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 size reached US$ 123 Billion in 2019. As per the estimates by IMARC Group, the market is anticipated to exhibit moderate growth during the forecast period (2020-2025). Eyewear refers to the products that are worn by individuals for vision correction or for protecting the eyes from various external factors, including light, debris, harmful radiation and severe environmental changes. These products, including spectacles, sunglasses and contact lenses, use a vast array of frames and lenses that are usually made from carbon fiber, glass or plastic. They are widely recommended by healthcare professionals for improving visual acuity and preventing ultraviolet (UV) rays from damaging the retina and lens of the human eyes. Their regular use can also assist in reducing the intensity and frequency of headaches and migraines that are usually triggered by bright sunlight or prolonged exposure to digital screens and gadgets. Additionally, these eyewear products are beneficial in reducing the strain caused on the eyes as a result of fatigue. Apart from this, they can be used to treat or minimize the chances of developing several visual ailments and eyesight related problems, such as myopia and hypermetropia.

Eyewear Market Share Report

Increasing Incidences of Ocular Diseases Impelling Market Growth

The market is primarily driven by the increasing prevalence of ocular diseases on the global level. There has been a considerable rise in the cases of partial and severe vision impairment among adults and rising incidences of myopia and hypermetropia among children, which is contributing to the increasing demand for eyewear as an appropriate measure to prevent further damage. In addition to this, there has also been a significant increase in the occurrence of other eyesight related disorders, such as eye irritation, dry eyes, computer vision syndrome (CVS) and double vision, especially among working professionals. This can be accredited to the strain caused on the eyes due to the prolonged use of laptops, smartphones and tablets. This, in turn, is escalating the demand for advanced glare-free prescription eyewear with enhanced durability. The growing geriatric population across the globe is acting as another major growth-inducing factor. The elderly population is more commonly diagnosed with fatal ocular disorders, such as cataract and age-related macular degeneration (AMD). Numerous government and non-government organizations are consequently organizing informative initiatives and programs to spread awareness regarding the preventive measures and treatments available for these eyesight problems. This has led to an increase in the uptake of several eyewear products.

Introduction of Smart Glasses to Facilitate Market Growth

Rapid urbanization and the rising preference for aesthetic products among the masses have led to the increasing adoption of trendy and designer sunglasses and spectacles as a means to enhance their appearances while protecting their eyes from damage. The escalating sales of luxury and premium eyewear can also be attributed to the evolving purchasing patterns of individuals and the growing preference for asserting and uplifting their social status. This has impelled players to introduce product variants with improved optical designs, materials and advanced coatings. Numerous key players are also launching smart glasses in the market that are expected to gain widespread prominence among users. These glasses are commonly integrated with augmented reality (AR) that employs internal and external sensors to collect varied information and store them. They have the capability to control or retrieve data from other digital devices while projecting the required information on the lens of the glasses. These glasses are widely used for conveniently using navigation apps or checking real-time notifications without the hassle of checking their smartphones for the same. These glasses can also be utilized to track the physical fitness of the user by tracking steps, distance covered and calories burned in a given period.

Integration of Advanced Technologies with Online Channels to Create Positive Outlook

There has been a considerable increase in the preference for purchasing eyewear through online channels over the past few years. Significant improvements in the e-commerce supply chain and the growing confidence of customers regarding online transactions have further strengthened the growth in this segment. Several online players are now offering improved shopping experiences to users by leveraging advanced technologies in their applications. They are integrating their services with product virtualization and facial analysis to recommend apt eyewear designs that suit the facial features of individual customers. They are also employing bot guides to assist buyers in navigating the product choices, thus enhancing their overall experience. Multiple vendors are now venturing into the brick-and-mortar business model to expand their consumer-base, whereas others are utilizing 3D printing technology to produce tailored frames for their customers. Additionally, the growing popularity of targeted ads and the mandatory lockdowns imposed by the government of numerous countries in the light of the rapid outbreak of the coronavirus disease (COVID-19) are facilitating the market growth in the online segment. Some of the other factors contributing to the market growth include the growing awareness regarding advancements in medical technology and the continual launch of innovative products.

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 and 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. The increasing dependence of the masses upon electronic devices has 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 represent the leading segment, accounting for a share of around two-thirds of the total market size. This can be attributed to the availability of product designs that suit the preferences of all genders.

Breakup by Distribution Channel:

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

Amongst these, retail stores represent the most popular distribution channel in the global eyewear market as they offer both branded and generic eyewear products, depending upon the purchasing power of the consumers. They also offer a vast array of product designs in multiple colors and shapes to meet the preferences of the customer.

Regional Insights:

  • Europe
  • North America
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Luxottica Group S.p.A., Essilor International, Johnson & Johnson Vision Care, Inc., Safilo Group S.p.A., and Alcon Vision LLC.

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Eyewear Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Product
    5.5    Market Breakup by Gender
    5.6    Market Breakup by Distribution Channel
    5.7    Market Breakup by Region
    5.8    Market Forecast
    5.9    SWOT Analysis
        5.9.1    Overview
        5.9.2    Strengths
        5.9.3    Weaknesses
        5.9.4    Opportunities
        5.9.5    Threats
    5.10    Value Chain Analysis
        5.10.1    Overview
        5.10.2    Research and Development
        5.10.3    Raw Material Procurement
        5.10.4    Manufacturing
        5.10.5    Marketing
        5.10.6    Distribution
        5.10.7    End-Use
    5.11    Porters Five Forces Analysis
        5.11.1    Overview
        5.11.2    Bargaining Power of Buyers
        5.11.3    Bargaining Power of Suppliers
        5.11.4    Degree of Competition
        5.11.5    Threat of New Entrants
        5.11.6    Threat of Substitutes
6   Market Breakup by Product
    6.1    Spectacles
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Sunglasses
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Contact lenses
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by Gender
    7.1    Men
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Women
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Unisex
        7.3.1    Market Trends
        7.3.2    Market Forecast
8   Market Breakup by Distribution Channel
    8.1    Optical Stores
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Independent Brand Showrooms
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Online Stores
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Retail Stores
        8.4.1    Market Trends
        8.4.2    Market Forecast
9   Market Breakup by Region
    9.1    Europe
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    North America
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Asia Pacific
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Middle East and Africa
        9.4.1    Market Trends
        9.4.2    Market Forecast
    9.5    Latin America
        9.5.1    Market Trends
        9.5.2    Market Forecast
10  Eyewear Manufacturing Process
    10.1    Product Overview
    10.2    Raw Material Requirements
    10.3    Manufacturing Process
    10.4    Key Success and Risk Factors
11  Competitive Landscape
    11.1    Market Structure
    11.2    Key Players
    11.3    Profiles of Key Players
        11.3.1    Luxottica
            11.3.1.1    Company Overview
            11.3.1.2    Description
            11.3.1.3    Product Portfolio
            11.3.1.4    Financials
            11.3.1.5    SWOT Analysis
        11.3.2    Essilor
            11.3.2.1    Company Overview
            11.3.2.2    Description
            11.3.2.3    Product Portfolio
            11.3.2.4    Financials
            11.3.2.5    SWOT Analysis
        11.3.3    Johnson & Johnson Vision Care
            11.3.3.1    Company Overview
            11.3.3.2    Description
            11.3.3.3    Product Portfolio
        11.3.4    Safilo
            11.3.4.1    Company Overview
            11.3.4.2    Description
            11.3.4.3    Product Portfolio
        11.3.5    Alcon
            11.3.5.1    Company Overview
            11.3.5.2    Description
            11.3.5.3    Product Portfolio


List of Figures

Figure 1: Global: Eyewear Market: Major Drivers and Challenges
Figure 2: Global: Eyewear Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Eyewear Market: Breakup by Type (in %), 2019
Figure 4: Global: Eyewear Market: Breakup by Gender (in %), 2019
Figure 5: Global: Eyewear Market: Breakup by Distribution Channel (in %), 2019
Figure 6: Global: Eyewear Market: Breakup by Region (in %), 2019
Figure 7: Global: Eyewear Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 8: Global: Eyewear Industry: SWOT Analysis
Figure 9: Global: Eyewear Industry: Value Chain Analysis
Figure 10: Global: Eyewear Industry: Porter’s Five Forces Analysis
Figure 11: Global: Spectacles Market: Sales Value (in Million US$), 2014 & 2019
Figure 12: Global: Spectacles Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 13: Global: Sunglasses Market: Sales Value (in Million US$), 2014 & 2019
Figure 14: Global: Sunglasses Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 15: Global: Contact lenses Market: Sales Value (in Million US$), 2014 & 2019
Figure 16: Global: Contact lenses Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 17: Global: Men Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 18: Global: Men Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 19: Global: Women Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 20: Global: Women Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 21: Global: Unisex Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 22: Global: Unisex Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 23: Global: Eyewear Market: Sales through Optical Stores (in Million US$), 2014 & 2019
Figure 24: Global: Eyewear Market Forecast: Sales through Optical Stores (in Million US$), 2020-2025
Figure 25: Global: Eyewear Market: Sales through Independent Brand Showrooms (in Million US$), 2014 & 2019
Figure 26: Global: Eyewear Market Forecast: Sales through Independent Brand Showrooms (in Million US$), 2020-2025
Figure 27: Global: Eyewear Market: Sales through Online Stores (in Million US$), 2014 & 2019
Figure 28: Global: Eyewear Market Forecast: Sales through Online Stores (in Million US$), 2020-2025
Figure 29: Global: Eyewear Market: Sales through Retail Stores (in Million US$), 2014 & 2019
Figure 30: Global: Eyewear Market Forecast: Sales through Retail Stores (in Million US$), 2020-2025
Figure 31: Europe: Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 32: Europe: Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 33: North America: Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 34: North America: Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 35: Asia Pacific: Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 36: Asia Pacific: Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 37: Middle East and Africa: Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 38: Middle East and Africa: Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 39: Latin America: Eyewear Market: Sales Value (in Million US$), 2014 & 2019
Figure 40: Latin America: Eyewear Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 41: Eyewear Manufacturing: Process Flow


List of Tables

Table 1: Global: Eyewear Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Eyewear Market Forecast: Breakup by Product (in Million US$), 2020-2025
Table 3: Global: Eyewear Market Forecast: Breakup by Gender (in Million US$), 2020-2025
Table 4: Global: Eyewear Market Forecast: Breakup by Distribution Channel (in Million US$), 2020-2025
Table 5: Global: Eyewear Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 6: Eyewear Manufacturing: Raw Material Requirements
Table 7: Global: Eyewear Market: Competitive Structure
Table 8: Global: Eyewear Market: Key Players
 

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