The colored contact lenses market size has grown rapidly in recent years. It will grow from $3.56 billion in 2023 to $3.95 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The expansion during the historical period can be credited to celebrity endorsements, rising disposable incomes, the impact of social media, globalization, and evolving societal perspectives toward cosmetic enhancements.
The colored contact lenses market size is expected to see rapid growth in the next few years. It will grow to $5.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the upcoming period is expected due to an increasing aging population, the continual expansion of e-commerce, strategic partnerships with influencers, heightened emphasis on personal appearance, and growing concerns regarding health and safety. Notable trends projected in this period encompass the use of biodegradable materials, advancements in virtual try-on technologies, the rise of subscription-based services, innovations in lens designs, and the integration of wellness-focused packaging.
The anticipated rise in eye disorders is poised to drive the expansion of the colored contact lens market. Eye disorders encompass various conditions leading to impaired vision or blindness, stemming from causes such as infection, allergies, or deficiencies in essential nutrients. Colored contact lenses serve a dual purpose of enhancing eye appearance and addressing common visual ailments such as astigmatism, nearsightedness, and farsightedness. Notably, in February 2021, The Lancet Global Health's Global Eye Health report highlighted staggering statistics, projecting a global count of 596 million individuals, including 43 million who are blind, grappling with distance vision impairment. Moreover, an additional 510 million people experienced uncorrected nearsightedness due to a lack of appropriate corrective glasses. The report forecasts a concerning trajectory, indicating that by 2050, an estimated 895 million individuals, including 61 million who will be blind, could face distance vision impairment due to factors such as population aging, expansion, and urbanization. Consequently, the escalating prevalence of eye disorders is a key driver behind the growth of the colored contact lens market.
The anticipated surge in cosmetic and aesthetic trends is set to propel the expansion of the colored contact lens market. These trends encapsulate the evolving preferences and innovations within the beauty and aesthetics sector. Colored contact lenses play a pivotal role in these trends, offering users a platform to challenge conventional beauty standards by experimenting with diverse eye colors, ranging from subtle enhancements to striking transformations. This empowers individuals to express their distinct identities and defy societal expectations. Notably, in August 2023, The Aesthetic Society, a prominent organization dedicated to aesthetic plastic surgery and cosmetic medicine, reported that Americans allocated over $11.8 billion towards aesthetic procedures, marking a 2% increase from the previous year. Hence, the burgeoning cosmetic and aesthetic trends stand as a driving force behind the growth witnessed in the colored contact lens market.
Key players within the colored contact lens market are actively engaged in innovating new products, exemplified by the introduction of spooky-colored contact lenses, as part of their strategy to maintain a competitive edge. Spooky-colored contact lenses represent a category designed to evoke eerie and supernatural effects. A case in point is the September 2022 launch by Unicoeye, a renowned China-based colored contact lens brand, unveiling their Spooky Colored Contact Lenses line, strategically timed for Halloween. This collection features designs catering to frightening depictions of supernatural entities and imaginative cosplay appearances. It encompasses unique color blends and eerie patterns intended to flawlessly complement various costumes. Positioned as an ideal complement to eye makeup or face paint concepts, whether for costume parties or to enhance a Halloween-themed look, this collection showcases unconventional color combinations and haunting designs.
Prominent companies within the colored contact lens market are directing their efforts towards innovative products, such as colored contact lenses, to align with the burgeoning trend of makeovers among India's populace. Colored contact lenses serve as a popular choice, allowing for the alteration or enhancement of eye color while simultaneously addressing vision correction needs. Notably, in April 2022, Johnson & Johnson Vision, a leading US-based ophthalmology company, unveiled BUBBLE POP, a novel lineup of colored contact lenses tailored to offer an affordable and effortless means of achieving eye makeovers for daily use. The lenses are segmented into two distinct categories: The Neon range (featuring Neon Gray, Neon Blue, and Neon Hazel) delivers bold hues, exuding a glamorous aura suitable for nighttime wear, while the Pastel range (comprising Pastel Gray, Pastel Purple, and Pastel Green) offers subtle colors designed for daytime use. Crafted as monthly disposable soft contact lenses, Bubble POP lenses cater to users seeking the convenience of a fresh pair each month. With a water content of 38%, these lenses ensure sustained moisture and comfort throughout the day, enhancing the user experience.
In September 2022, Black Pearl Global Investments, a US-based asset management firm specializing in healthcare investments, completed the acquisition of Hydrogel Vision Corp. (HVC) for an undisclosed sum. Following this acquisition, HVC will rebrand as Black Pearl Vision, marking a significant distinction as the sole company worldwide owned and operated by individuals from diverse backgrounds, encompassing people of color and women. Hydrogel Vision Corp. (HVC), previously a US-based entity, served as a manufacturer and distributor of high-performance contact lenses tailored for both men and women.
Major companies operating in the colored contact lenses market report are Johnson & Johnson, Novartis AG, Essilor International, Alcon, Hoya Corporation, Bausch + Lomb, CooperVision Inc., Carl Zeiss AG, Clalen, TTDeye, Olens, QualiMed Srl, Menicon Co. Ltd., NEO Vision, SEED Co.Ltd., Vassen, Desio, Barbie Eyesland, UltraVision CLPL, Solotica, Camax Optical Corp., Oculus Private Limited, Clearlab SG Pte Ltd., FreshKon, Maxvue Vision, ColourVue, Sweety Plus, Adore Lenses, LensMe, EOS Lenses, Dueba, Geo Medical, PIAA Corporation, FourVision, ICK Contacts, Beuberry, Princess Pinky, InnoVision, EyeCandys, Dreamcon.
North America was the largest region in the colored contact lenses market in 2023. The regions covered in the coloured contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the colored contact lenses market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Colored contact lenses encompass three primary product types: soft contact lenses, RGP lenses, and hybrid lenses. Soft contact lenses, made of flexible plastic, facilitate corneal oxygenation. These lenses, crafted from polymers and hydrogen, serve diverse purposes including vision correction and non-corrective applications. Distribution channels for these lenses include retail stores, online platforms, and various other outlets.
The colored contact lenses market research report is one of a series of new reports that provides colored contact lenses market statistics, including the colored contact lenses industry's global market size, regional shares, competitors with a colored contact lenses market share, detailed colored contact lenses market segments, market trends and opportunities, and any further data you may need to thrive in the colored contact lenses industry. This colored contact lenses market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The colored contact lens market consists of sales of visibility tint, enhancement tint, and opaque tint. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The colored contact lenses market size is expected to see rapid growth in the next few years. It will grow to $5.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The anticipated growth in the upcoming period is expected due to an increasing aging population, the continual expansion of e-commerce, strategic partnerships with influencers, heightened emphasis on personal appearance, and growing concerns regarding health and safety. Notable trends projected in this period encompass the use of biodegradable materials, advancements in virtual try-on technologies, the rise of subscription-based services, innovations in lens designs, and the integration of wellness-focused packaging.
The anticipated rise in eye disorders is poised to drive the expansion of the colored contact lens market. Eye disorders encompass various conditions leading to impaired vision or blindness, stemming from causes such as infection, allergies, or deficiencies in essential nutrients. Colored contact lenses serve a dual purpose of enhancing eye appearance and addressing common visual ailments such as astigmatism, nearsightedness, and farsightedness. Notably, in February 2021, The Lancet Global Health's Global Eye Health report highlighted staggering statistics, projecting a global count of 596 million individuals, including 43 million who are blind, grappling with distance vision impairment. Moreover, an additional 510 million people experienced uncorrected nearsightedness due to a lack of appropriate corrective glasses. The report forecasts a concerning trajectory, indicating that by 2050, an estimated 895 million individuals, including 61 million who will be blind, could face distance vision impairment due to factors such as population aging, expansion, and urbanization. Consequently, the escalating prevalence of eye disorders is a key driver behind the growth of the colored contact lens market.
The anticipated surge in cosmetic and aesthetic trends is set to propel the expansion of the colored contact lens market. These trends encapsulate the evolving preferences and innovations within the beauty and aesthetics sector. Colored contact lenses play a pivotal role in these trends, offering users a platform to challenge conventional beauty standards by experimenting with diverse eye colors, ranging from subtle enhancements to striking transformations. This empowers individuals to express their distinct identities and defy societal expectations. Notably, in August 2023, The Aesthetic Society, a prominent organization dedicated to aesthetic plastic surgery and cosmetic medicine, reported that Americans allocated over $11.8 billion towards aesthetic procedures, marking a 2% increase from the previous year. Hence, the burgeoning cosmetic and aesthetic trends stand as a driving force behind the growth witnessed in the colored contact lens market.
Key players within the colored contact lens market are actively engaged in innovating new products, exemplified by the introduction of spooky-colored contact lenses, as part of their strategy to maintain a competitive edge. Spooky-colored contact lenses represent a category designed to evoke eerie and supernatural effects. A case in point is the September 2022 launch by Unicoeye, a renowned China-based colored contact lens brand, unveiling their Spooky Colored Contact Lenses line, strategically timed for Halloween. This collection features designs catering to frightening depictions of supernatural entities and imaginative cosplay appearances. It encompasses unique color blends and eerie patterns intended to flawlessly complement various costumes. Positioned as an ideal complement to eye makeup or face paint concepts, whether for costume parties or to enhance a Halloween-themed look, this collection showcases unconventional color combinations and haunting designs.
Prominent companies within the colored contact lens market are directing their efforts towards innovative products, such as colored contact lenses, to align with the burgeoning trend of makeovers among India's populace. Colored contact lenses serve as a popular choice, allowing for the alteration or enhancement of eye color while simultaneously addressing vision correction needs. Notably, in April 2022, Johnson & Johnson Vision, a leading US-based ophthalmology company, unveiled BUBBLE POP, a novel lineup of colored contact lenses tailored to offer an affordable and effortless means of achieving eye makeovers for daily use. The lenses are segmented into two distinct categories: The Neon range (featuring Neon Gray, Neon Blue, and Neon Hazel) delivers bold hues, exuding a glamorous aura suitable for nighttime wear, while the Pastel range (comprising Pastel Gray, Pastel Purple, and Pastel Green) offers subtle colors designed for daytime use. Crafted as monthly disposable soft contact lenses, Bubble POP lenses cater to users seeking the convenience of a fresh pair each month. With a water content of 38%, these lenses ensure sustained moisture and comfort throughout the day, enhancing the user experience.
In September 2022, Black Pearl Global Investments, a US-based asset management firm specializing in healthcare investments, completed the acquisition of Hydrogel Vision Corp. (HVC) for an undisclosed sum. Following this acquisition, HVC will rebrand as Black Pearl Vision, marking a significant distinction as the sole company worldwide owned and operated by individuals from diverse backgrounds, encompassing people of color and women. Hydrogel Vision Corp. (HVC), previously a US-based entity, served as a manufacturer and distributor of high-performance contact lenses tailored for both men and women.
Major companies operating in the colored contact lenses market report are Johnson & Johnson, Novartis AG, Essilor International, Alcon, Hoya Corporation, Bausch + Lomb, CooperVision Inc., Carl Zeiss AG, Clalen, TTDeye, Olens, QualiMed Srl, Menicon Co. Ltd., NEO Vision, SEED Co.Ltd., Vassen, Desio, Barbie Eyesland, UltraVision CLPL, Solotica, Camax Optical Corp., Oculus Private Limited, Clearlab SG Pte Ltd., FreshKon, Maxvue Vision, ColourVue, Sweety Plus, Adore Lenses, LensMe, EOS Lenses, Dueba, Geo Medical, PIAA Corporation, FourVision, ICK Contacts, Beuberry, Princess Pinky, InnoVision, EyeCandys, Dreamcon.
North America was the largest region in the colored contact lenses market in 2023. The regions covered in the coloured contact lenses market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the colored contact lenses market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Colored contact lenses encompass three primary product types: soft contact lenses, RGP lenses, and hybrid lenses. Soft contact lenses, made of flexible plastic, facilitate corneal oxygenation. These lenses, crafted from polymers and hydrogen, serve diverse purposes including vision correction and non-corrective applications. Distribution channels for these lenses include retail stores, online platforms, and various other outlets.
The colored contact lenses market research report is one of a series of new reports that provides colored contact lenses market statistics, including the colored contact lenses industry's global market size, regional shares, competitors with a colored contact lenses market share, detailed colored contact lenses market segments, market trends and opportunities, and any further data you may need to thrive in the colored contact lenses industry. This colored contact lenses market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The colored contact lens market consists of sales of visibility tint, enhancement tint, and opaque tint. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Colored Contact Lenses Market Characteristics3. Colored Contact Lenses Market Trends and Strategies32. Global Colored Contact Lenses Market Competitive Benchmarking33. Global Colored Contact Lenses Market Competitive Dashboard34. Key Mergers and Acquisitions in the Colored Contact Lenses Market
4. Colored Contact Lenses Market - Macro Economic Scenario
5. Global Colored Contact Lenses Market Size and Growth
6. Colored Contact Lenses Market Segmentation
7. Colored Contact Lenses Market Regional and Country Analysis
8. Asia-Pacific Colored Contact Lenses Market
9. China Colored Contact Lenses Market
10. India Colored Contact Lenses Market
11. Japan Colored Contact Lenses Market
12. Australia Colored Contact Lenses Market
13. Indonesia Colored Contact Lenses Market
14. South Korea Colored Contact Lenses Market
15. Western Europe Colored Contact Lenses Market
16. UK Colored Contact Lenses Market
17. Germany Colored Contact Lenses Market
18. France Colored Contact Lenses Market
19. Italy Colored Contact Lenses Market
20. Spain Colored Contact Lenses Market
21. Eastern Europe Colored Contact Lenses Market
22. Russia Colored Contact Lenses Market
23. North America Colored Contact Lenses Market
24. USA Colored Contact Lenses Market
25. Canada Colored Contact Lenses Market
26. South America Colored Contact Lenses Market
27. Brazil Colored Contact Lenses Market
28. Middle East Colored Contact Lenses Market
29. Africa Colored Contact Lenses Market
30. Colored Contact Lenses Market Competitive Landscape and Company Profiles
31. Colored Contact Lenses Market Other Major and Innovative Companies
35. Colored Contact Lenses Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Colored Contact Lenses Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on colored contact lenses market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for colored contact lenses? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Product Type: Soft Contact Lenses; RGP Lenses; Hybrid Lenses
2) By Material: Polymer; Hydrogen
3) By Application: With Vision Correction; Without Vision Correction
4) By End-Users: Retail Stores; Online Stores; Other Stores
Key Companies Mentioned: Johnson & Johnson; Novartis AG; Essilor International; Alcon; Hoya Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Johnson & Johnson
- Novartis AG
- Essilor International
- Alcon
- Hoya Corporation
- Bausch + Lomb
- CooperVision Inc.
- Carl Zeiss AG
- Clalen
- TTDeye
- Olens
- QualiMed Srl
- Menicon Co. Ltd.
- NEO Vision
- SEED Co.Ltd.
- Vassen
- Desio
- Barbie Eyesland
- UltraVision CLPL
- Solotica
- Camax Optical Corp.
- Oculus Private Limited
- Clearlab SG Pte Ltd
- FreshKon
- Maxvue Vision
- ColourVue
- Sweety Plus
- Adore Lenses
- LensMe
- EOS Lenses
- Dueba
- Geo Medical
- PIAA Corporation
- FourVision
- ICK Contacts
- Beuberry
- Princess Pinky
- InnoVision
- EyeCandys
- Dreamcon
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 3.95 Billion |
Forecasted Market Value ( USD | $ 5.85 Billion |
Compound Annual Growth Rate | 10.3% |
Regions Covered | Global |
No. of Companies Mentioned | 40 |