IMARC Group, a leading market research company, has recently releases report titled “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global eyewear market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the eyewear market?
The global eyewear market size reached US$ 149.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 222.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
Eyewear refers to any accessory or device worn on and around the eyes to enhance vision, protect the eyes, or make a fashion statement. It serves functional and aesthetic purposes and encompasses a wide range of products designed for various vision-related needs. One of the primary functions of eyewear is vision correction. Prescription eyeglasses or spectacles are the most common eyewear used to correct refractive errors such as nearsightedness (myopia), farsightedness (hyperopia), and astigmatism. These glasses contain lenses that bend or refract light to compensate for the specific vision impairment of the individual wearer.
Contact lenses are another popular type of eyewear that sits directly on the eye’s cornea. They provide vision correction without the need for visible frames, offering a more natural and unobstructed field of view. In addition to vision correction, eyewear is widely used for eye protection. Safety glasses or goggles are designed to shield the eyes from hazards in industrial or construction environments, protecting against impact, chemicals, dust, and other particles. Sunglasses are another form of protective eyewear that helps protect the eyes from harmful ultraviolet (UV) radiation from the sun, reducing the risk of eye damage and certain eye conditions. At present, eyewear is gaining immense traction among individuals across the globe as a fashion accessory to enhance their appearance or make a unique statement.
What is the market trend in eyewear?
The global eyewear market is primarily driven by the increasing prevalence of vision-related issues and eye conditions owing to factors such as an aging population, changing lifestyles, and prolonged exposure to digital screens. This, in turn, has escalated the demand for corrective eyewear like prescription glasses and contact lenses. Additionally, the growing awareness of eye health and the need for eye protection against harmful ultraviolet (UV) radiation and blue light from electronic devices has augmented the demand for sunglasses and protective eyewear. Apart from this, the shifting fashion and style preferences of individuals also contribute to market growth, with consumers seeking fashionable frames and sunglasses as a fashion statement. Moreover, numerous technological advancements in lens materials, coatings, and manufacturing processes, such as thinner and lighter lenses, anti-reflective coatings, and digital lens designs, have catalyzed the market growth. Furthermore, the easy availability of eyewear through e-commerce and online retail platforms that has expanded the accessibility and convenience for consumers is contributing to the market growth. Other factors, including the rising geriatric population, growing demand for prescription glasses and contact lenses, and increasing penetration of digital devices and prolonged screen time, are also anticipated to drive the market further.
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Who is the largest eyewear manufacturer?
Some of the major eyewear company
- Luxottica Group S.p.A.,
- Essilor International SAS,
- Johnson & Johnson Vision Care, Inc.,
- Safilo Group S.p.A.
- Alcon Vision LLC.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Spectacles
- Sunglasses
- Contact Lenses
Breakup by Gender:
- Men
- Women
- Unisex
Breakup by Distribution Channel:
- Optical Stores
- Independent Brand Showrooms
- Online Stores
- Retail Stores
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
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