Eyewear Market Product, End User, Distribution Channel, Regions and Company Analysis 2024-2032

The Worldwide Eyewear Market will reach US$ 270.03 billion in 2032 from US$ 151.92 billion in 2023, with a CAGR of 6.60% from 2024 to 2032.

Spectacles or eyewear is an accessory or devices that is worn on or in front of the eyes for one reason or the other. Eyeglasses, sun protector glasses, vision contact lenses, and protective eyeshields fall under this category. Eyewear is used for vision, sun, safety, protective and fashion needs. Eyeglasses or glasses are a vision-correcting accessory comprising of lenses set in a frame bearing a bridge for placement over the nose and ends or temples to be placed over the ears. Sunglasses are spectacles with tinted or polarized lenses to shut out glare and to shield the eyes from bright light. Contact lenses that are worn directly in the eye, bend of which correct refractive errors without the use of glasses. These are eyewear items that are aimed at protecting the eyes from debris, fluids, or any other potential threats, and they are utilized in sporting activities, certain jobs, and some medical practices.

For instance, based on the NCBI analysis of projections, the number of blind people roughly stands at 43. 2 million globally in February 2022, accounting for 23%. 9 million women. In addition, there must be greater unity within the industry because a large number of domestic and foreign businesses.

The increasing concern over the potential damage which is caused by ultraviolet rays leads to a strong expansion of the eyewear market around the world. Among these, the eyeglasses segment within the sunglasses market will display the highest CAGR because of the growing awareness of the Negative Effects of ultraviolet A and B rays on eyes. Moreover, the sales of fashionable sporty sunglasses are expanding for the general populace of the developed economy. In conclusion, the variability of products is the key growth factor of manufacturers within the global market of sunglasses. People requiring vision correction and those clients who would like to protect their eyes from UV rays wear prescription sunglasses.

75 percent of the adult response in the United States claimed to use sunglasses casually in June 2021; about 22 percent use sunglasses during sporting activities. The rising markets in Latin America and Asia-Pacific on account of the heightened benefits of Polarized lens in UV protection are a major factor influencing the Sunglasses market. With the kind of unmet demand available, the market is expected to grow in the forecast period.

The reasons for implementing trend are to reach more people and to make sure that the target group is reached and engaged common marketing elements are used on social media, as well as the possibility to try on glasses virtually. They also tied the latter to the increasing popularity of e-commerce platforms as a new market outlet for expansion. By advertising on social media apps such as the Instagram, twitter, face book, companies are able to understand customers’ preferences hence offering items that meet their specific needs. Further, such sites encourage other advanced methods of marketing like influencer and affiliate marketing that play arguably the crucial role of ensuring profitability for such firms as those operating in the eyewear industry.

The market has given a push for more consumption by the female especially the fashionable and the brand conscious ladies when it comes to selecting their glasses frame. Reasons such as the rising population of career women and the improved economic status of women are major factors that have led to the continuous usage of eyewear products among women. The influence exerted by famous personalities on figures has contributed immensely to the popularity of designer and high end eyewear. However, the increase in demand for contact lenses has tipped the overall growth of eyewear market in the right direction.

Asia Pacific Eyewear Market

The demand for eyewear products, which includes prescription glasses and contact lenses, is growing in Asia-Pacific due to the increasing populace and high incidence of imaginative and prescient troubles. Rising disposable earning have fueled the desire for top class eyewear, and there is growing awareness of eye safety. People are the usage of eyewear merchandise like sunglasses and refractive glasses to protect their eyes from harmful radiation, immoderate strength use, and the results of severe cellular phone or laptop use.

Depletion of the ozone layer leads to multiplied UV rays getting into the atmosphere, affecting humans imaginative and prescient minds. This has multiplied demand for protective eyewear, leading to growth in the Asia-Pacific eyewear industry. Reliance Retail has increased its eyewear business through acquisitions, imparting top-class and luxury eyewear products in over 30 towns in India.

Eyewear Market Company Overview

The prominent players in the Global Eyewear Market include Burberry Group, Essilor Luxottica, Hoya Corporation, Carl Zeiss Group, Prada, Tesco, Louis Vuitton, and Cooper Vision.

Global Eyewear Market News

In December 2023, Carl Zeiss Meditec AG acquired the Dutch Ophthalmic Research Center (International) B.V. from Eurazeo SE. This enhances ZEISS Medical Technology's range of digitally connected workflow solutions and ophthalmic treatments, solidifying its position in addressing eye conditions like glaucoma, cataracts, retinal disorders, and refractive errors.

In October 2023, Bausch & Lomb introduced SeeNa, an ocular diagnostic device for refractive cataract patients that is fully linked with Eyetelligence surgical planning software.

Alcon introduced the monthly Water Gradient multifocal contact lens, TOTAL30 Multifocal, in October 2023. The lenses are now available in some overseas markets and the United States.

In September 2023, SVS Vision was acquired by the Fielmann Group. The German family firm is pursuing internationalization through its Vision 2025 growth strategy, and these purchases mark a significant milestone in that endeavor.

Product - Global Eyewear Market breakup in 3 viewpoints:

1. Spectacles
2. Sunglasses
3. Contact Lenses

End User - Global Eyewear Market breakup in 3 viewpoints:

1. Men
2. Women
3. Children

Distribution Channel - Global Eyewear Market breakup in 4 viewpoints:

1. Optical Stores
2. Independent Brand Showrooms
3. Online Stores
4. Retail Stores

Country - Global Eyewear Market breakup in 25 viewpoints:

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. the Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. United Arab Emirates

All the Key players have been covered from 4 Viewpoints:

1. Overview
2. Recent Development & Strategies
3. Product Portfolio & Product Launch in Last 1 Year
4. Revenue

Company Analysis:

1. Burberry Group
2. Essilor Luxottica
3. Hoya Corporation
4. Carl Zeiss Group's
5. Prada
6. Tesco
7. Louis Vuitton
8. Cooper Vision