Glasses & Contact Lens Manufacturing in the US - Industry Market Research Report

Clear eyes: An expected decline in the trade-weighted index is projected to contribute to the growing value of exports

While consumers have increased expenditures on glasses and contacts, competitively priced imports have satisfied a growing portion of consumer demand. Even though competition from foreign manufacturers declined temporarily in 2020 amid COVID-19, import penetration continued to expand in 2021. Overall, industry-wide revenue has been increasing at a CAGR of 0.1% over the past five years, including an estimated 1.7% increase in the current year, and is expected to total $7.8 billion in 2023. In the same year, profit is expected to increase to 8.2%. This industry manufactures ophthalmic goods, including eyeglass frames and lenses and contact lenses. The industry also produces sunglasses and protective eyewear, such as goggles. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.