The global eyewear market size was estimated to be USD 172.35 billion in 2023 and is expected to reach at USD 451.1 billion by 2033 with a CAGR of 9.14% during the forecast period 2023-2033. Surge in changing lifestyle patterns, growing adoption of luxurious accessories among millennials, rising focus on development of attractive & affordable eyewear, increasing introduction of new designs & patterns to quickly respond to the current fashion trends & attract fashion enthusiasts, surge in initiatives by leading market players, and growing introduction of innovative products are some of the key factors boosting the market growth.
Growing introduction of innovative products is predicted to boost the market growth during the forecast period. For instance, in September 2022, De Rigo Vision S.p.A has introduced the inaugural phygital eyewear design called the Crypto King$ Limited Edition, developed in collaboration with the PHILIPP PLEIN brand. The objective of this collaboration is to present premium products that combine distinctive visual appeal with cutting-edge advancements. This exclusive release will comprise 1,000 phygital frames, each possessing an individual serial number. Additionally, the frames will be presented in a unique box that incorporates a video screen.
By Product, Spectacles was the highest revenue-grossing segment in the global Eyewear Market in 2022 owing to increasing prevalence of computer vision syndrome (CVS), growing usage of mobile phones & digital screens among the global population, rising trend of online learning, surge in adoption of anti-glare & anti-fatigue glasses, and increasing popularity of clear eyeglasses & bright translucent glasses. Additionally, Contact lenses is predicted to grow at fastest CAGR during the forecast period owing to the rising introduction of cutting-edge devices such as multifocal toric lenses & light-adaptive lenses, growing research & development activities of contact lenses with improved aesthetics & quality, and increasing product approvals by regulatory bodies. For instance, in February 2021, Johnson & Johnson Services Inc. has reported the acquisition of a CE mark for ACUVUE OASYS MULTIFOCAL contact lenses designed for people experiencing presbyopia.
By Distribution Channel, Brick & mortar was the highest revenue-grossing segment in the global Eyewear Market in 2022 owing to the growing awareness regarding regular eye checkups, rising usage of eyeglasses & encouraging their selling from physical stores, increasing consumer preference for physical stores, surge in number of businesses are concentrating on expanding their storefronts. For instance, in January 2022, Lenskart, a prominent eyewear retail chain in India, inaugurated 73 stores spanning 19 states within the country and unveiled intentions to establish an additional 400 stores. Additionally, E-commerce is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of smart devices, generous discounts provided, as well as the capability of comparing prices & features,
North America region is anticipated for the highest revenue share during the forecast period owing to the growing demand for eyewear such as sunglasses, coloured contact lenses, & frames as fashion accessories, developed e-commerce industry in the area, and increasing launch of new products by key market players. For instance, in March 2021, JINS eyewear revealed the introduction of the JINS&SUN sunglasses brand in the United States, featuring a collection of 29 distinct styles. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising focus on the development of advanced products, increasing introduction of new designs & patterns of eyewear, and growing partnerships within market players. For instance, in February 2023, The 'Carrera x Prowl' range of eyeglasses was created in partnership with Carrera and Prowl, the lifestyle brand endorsed by Indian star Tiger Shroff. This fresh collection harmonizes the wearer's dynamic and unique fashion taste and will be extensively promoted through various media channels to enhance brand visibility throughout India.
Growing introduction of innovative products is predicted to boost the market growth during the forecast period. For instance, in September 2022, De Rigo Vision S.p.A has introduced the inaugural phygital eyewear design called the Crypto King$ Limited Edition, developed in collaboration with the PHILIPP PLEIN brand. The objective of this collaboration is to present premium products that combine distinctive visual appeal with cutting-edge advancements. This exclusive release will comprise 1,000 phygital frames, each possessing an individual serial number. Additionally, the frames will be presented in a unique box that incorporates a video screen.
By Product, Spectacles was the highest revenue-grossing segment in the global Eyewear Market in 2022 owing to increasing prevalence of computer vision syndrome (CVS), growing usage of mobile phones & digital screens among the global population, rising trend of online learning, surge in adoption of anti-glare & anti-fatigue glasses, and increasing popularity of clear eyeglasses & bright translucent glasses. Additionally, Contact lenses is predicted to grow at fastest CAGR during the forecast period owing to the rising introduction of cutting-edge devices such as multifocal toric lenses & light-adaptive lenses, growing research & development activities of contact lenses with improved aesthetics & quality, and increasing product approvals by regulatory bodies. For instance, in February 2021, Johnson & Johnson Services Inc. has reported the acquisition of a CE mark for ACUVUE OASYS MULTIFOCAL contact lenses designed for people experiencing presbyopia.
By Distribution Channel, Brick & mortar was the highest revenue-grossing segment in the global Eyewear Market in 2022 owing to the growing awareness regarding regular eye checkups, rising usage of eyeglasses & encouraging their selling from physical stores, increasing consumer preference for physical stores, surge in number of businesses are concentrating on expanding their storefronts. For instance, in January 2022, Lenskart, a prominent eyewear retail chain in India, inaugurated 73 stores spanning 19 states within the country and unveiled intentions to establish an additional 400 stores. Additionally, E-commerce is predicted to grow at fastest CAGR during the forecast period owing to the increasing adoption of smart devices, generous discounts provided, as well as the capability of comparing prices & features,
North America region is anticipated for the highest revenue share during the forecast period owing to the growing demand for eyewear such as sunglasses, coloured contact lenses, & frames as fashion accessories, developed e-commerce industry in the area, and increasing launch of new products by key market players. For instance, in March 2021, JINS eyewear revealed the introduction of the JINS&SUN sunglasses brand in the United States, featuring a collection of 29 distinct styles. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising focus on the development of advanced products, increasing introduction of new designs & patterns of eyewear, and growing partnerships within market players. For instance, in February 2023, The 'Carrera x Prowl' range of eyeglasses was created in partnership with Carrera and Prowl, the lifestyle brand endorsed by Indian star Tiger Shroff. This fresh collection harmonizes the wearer's dynamic and unique fashion taste and will be extensively promoted through various media channels to enhance brand visibility throughout India.
Segmentation: Eyewear Market Report 2022 - 2033
Eyewear Market Analysis & Forecast by Product 2022 - 2033 (Revenue USD Bn)
Contact Lenses
- Mass Contact Lenses
- Premium Contact Lenses
Spectacles
- Spectacle Lenses
- Spectacle Frames
Sunglasses
- Lens Type
- Non-Polarized Sunglasses
Polarized Sunglasses
- Lens Material
- Polyurethane
- CR-39
- Polycarbonate
- Others
Eyewear Market Analysis & Forecast by Distribution Channel 2022 - 2033 (Revenue USD Bn)
- E-Commerce
- Brick & Mortar
Eyewear Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Eyewear Market: Product Estimates & Trend Analysis
8. Eyewear Market: Distribution Channel Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Eyewear Market
11. Europe Global Eyewear Market
12. Asia Pacific Global Eyewear Market
13. Latin America Global Eyewear Market
14. MEA Global Eyewear Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- JINS Inc.
- Bausch & Lomb Inc.
- Fielmann AG
- CooperVision
- HOYA Corporation
- Safilo Group S.p.A.
- CIBA VISION
- ESSILORLUXOTTICA
- QSpex Technologies
- De Rigo Vision S.p.A
- Johnson & Johnson Vision Care Inc.
- Warby Parker
- Charmant Group
- Marcolin S.p.A
- Rodenstock GmbH
- Zenni Optical Inc.
- Seiko Optical Products Co. Ltd.
- Carl Zeiss AG
- Shamir Optical Industry Ltd.
- Silhouette International Schmied AG
- Chemilens (CHEMIGLAS Corp.)
- Marchon Eyewear Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 172.35 Billion |
| Forecasted Market Value ( USD | $ 451.1 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 22 |
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