Eyewear Market – Global Industry Analysis and Forecast 2023-2029

Eyewear Market size was valued US$ 123.48 Bn in 2022 and the total revenue is expected to grow at 8.19 % through 2023 to 2029, reaching US$ 214.25 Bn.
Eyewear Market Overview:
The global market size is expected to reach USD 214.25 Bn by 2029, exhibiting a CAGR of 8.19 percent during the forecast period. The increase in the acceptance of influencer marketing methods has led to meaningful consumer interaction, which is anticipated to drive the market during the forecast period. Endorsements by influencers have improved the demand for designer & premium eyewear worldwide.

Key companies using influencer marketing approaches has led consumers to use trendy designs as showcased by celebrities. Greater commitment rates offered by small-influencers is further endorsing emerging eyewear companies to control these plans to capture higher revenue share. Additionally, the acceptance of such marketing approaches allow eyewear companies to generate alertness regarding new product launches, create drives to target dissimilar sections of the society, as well as create a more relatable public image. Increased awareness helps manufactures to penetrate deeper into the market & cater to the requirements of the niche populace, which enables new & established players in the market to confirm continual business practices.
Product Overview

The technological advancement has added to the new stages of comfort & durability in spectacle manufacturing. Improvements in the spectacle lens manufacturing technology have allowed manufacturers to produce lenses with advanced indexes for wider ranges of spherical power, which advances the functionality & aestheticism of the spectacles. Developing eyewear businesses, with Dresden Optics Pty. Ltd., are leveraging a new type of business model, which allows consumers to customize their frames. This approach has enabled the establishment to start mass-production of spectacles, which are sold at very low prices, hence offering promising growth prospects to the market for eyewear.

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COVID-19 impact on market:

COVID-19 has the potential to have three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma.
Region Analysis:
The Asia Pacific led the market for eyewear in 2022. The increasing number of cases of myopia recorded in China is pressing the need to use corrective eyewear. Additionally, key market players like PRADA, operate manufacturing centers in China, to access improved technology & low-value labor.

North America captured a major amount of revenue share in the year 2022. Government rules by numerous federal bodies like the Federal Trade Commission (FTC) & the U.S. Customs & Border Security have caused in the effective & nontoxic use & distribution of eyewear products. The regulators make sure to counter sales & distribution of fake products, thus endorsing companies to practice lucrative, safe, & accountable business models.

Furthermore, data published by the FTC showcases an increasing trend of independent Eye care Specialists out-performing other retail chains due to the availability of inexpensive products & cost-effective services, which is pouring the market for eyewear in the Asia-Pacific region.

The objective of the report is to present a comprehensive analysis of the Global Eyewear Market including all the stakeholders of the industry. The past and current status of the industry with forecast market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding global market dynamics, structure by analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.
Eyewear Market Key Highlights:
Global Eyewear Market analysis and forecast, in terms of value.

Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the global market

Eyewear Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.

Global market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.

Global market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.

Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.

Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Eyewear Market are also profiled.
Eyewear Market Scope: Inquire before buying



Eyewear Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 123.48 Bn.


Forecast Period 2023 to 2029 CAGR:
8.19%
Market Size in 2029:
US $ 214.25 Bn.


 Segments Covered:
by Product
Contact Lenses
Spectacles


by Distribution Channel
Offline
Online


by Material
Metal Eyewear
Plastic Eyewear
Others


by End User
Women
Men



Eyewear Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. Bausch and Lomb Inc.
2. Carl Zeiss AG
3. Charmant Group
4. CooperVision
5. Warby Parker
6. EssilorLuxotttica
7. Zeiss International
8. HOYA Corporation
9. Johnson & Johnson Vision Care, Inc.
10. Cooper Vision
11. Fielmann AG
12. Safilo Group S.p.A.
13. Marcolin SpA.
14. De Rigo Vision S.p.A
15. Alcon
16. Marchon Eyewear, Inc.
17. Charmant Inc.
18. MAUI JIM, INC.
19. Bausch & Lomb
20. Fittingbox

Frequently Asked Questions:

1. Which region has the largest share in Global Eyewear Market?
Ans: Asia Pacific region holds the highest share in 2022.

2. What is the growth rate of Global Eyewear Market?
Ans: The Global Eyewear Market is growing at a CAGR of 8.19% during forecasting period 2023-2029.

3. What segments are covered in Global Eyewear market?
Ans: Eyewear Market is segmented into product, distribution channel and region.

4. Who are the key players in Global Eyewear market?
Ans: The important key players in the Global Eyewear Market are – Bausch and Lomb Inc., Carl Zeiss AG, Charmant Group, CooperVision, Warby Parker, EssilorLuxotttica, Zeiss International, HOYA Corporation, Cooper Vision, Fielmann AG,

5. What is the study period of this market?
Ans: The Global Eyewear Market is studied from 2022 to 2029.