Market Research Future Insights

In 2023, Eyewear Market was estimated to be worth USD 196.49 million. According to projections, the eyewear industry would expand at a compound annual growth rate (CAGR) of 6.91% from 2024 to 2032, from USD 211.21 million to USD 360.42 million. The main factors behind the growth of the eyewear industry are the changing lifestyle preferences of millennials and their increasing consumption of pricey eyewear.
The Global Eyewear Market refers to the worldwide industry that produces and sells various types of eyewear products, including prescription glasses, sunglasses, contact lenses, and other accessories such as frames and lenses. The global eyewear market is driven by factors such as increasing eye problems and vision impairments, rising demand for luxury eyewear, growing awareness about eye protection, and advancements in technology that have led to the development of innovative products. The market is highly competitive, with numerous players ranging from large multinational corporations to small local manufacturers and retailers

The COVID-19 pandemic had a significant impact on the global eyewear market. The industry faced disruptions in manufacturing, supply chain, and retail channels, leading to a decline in sales and revenue.

During the pandemic, many eyewear stores were closed or operated at reduced capacity, and consumers were hesitant to go out and purchase non-essential items such as eyewear. Additionally, many people were working from home and did not require eyewear for work or commuting, further reducing demand.

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Regional Analysis

The largest region of the Global Eyewear Market is Asia-Pacific, which includes countries such as China, India, Japan, and South Korea. The APAC region accounts for a significant share of the global market due to its large population, increasing urbanization, rising disposable incomes, and growing awareness of eye health and fashion trends.

APAC region has witnessed significant growth in the eyewear market, driven by factors such as the increasing prevalence of vision problems, a growing aging population, and the adoption of western fashion trends.

Market Segmentation

The Global Eyewear Market has been segmented into type and application.

Based on the type, the market has been segmented into prescription eyewear and non-prescription eyewear.

Based on the application, the market has been segmented into store-based and non-store-based.

Key Players

Some of the key market players are:

·         Fielmann AG (Germany)

·         The Cooper Companies Inc. (US)

·         Bausch Health Companies Inc. (Canada)

·         Luxottica Group S.p.A. (Italy)

·         Carl Zeiss AG (Germany)

·         Safilo Group S.p.A. (Italy)

·         GrandVision (Netherlands)

·         Alcon Vision LLC (US)

·         Johnson & Johnson Vision Care Inc. (US)

·         Marcolin SpA (Italy)

·         Marchon Eyewear Inc. (US)

·         De Rigo Vision S.p.A. (Italy)

·         Essilor International (France)

·         Rodenstock GmbH (Germany)

Charmant Inc. (US)