Eyewear Market Trends and Growth Forecast 2018-2026 By Top Vendors Luxottica Group S.p.A, Valeant Pharmaceuticals International Inc., Fielmann A.G., CooperVision Inc., Safilo Group S.p.A., Carl Zeiss A.G. and Essilor International

Eyewear is an important accessory that aid in numerous visual defects such as myopia and hyperopia. Apart from this, it is used as a fashion accessory and for protection against sunlight and harmful U.V. radiations. Eyeglasses are also used in industries for protection against debris and for welding, in order for protection against high intensity light and heat. Factors such as acute myopia at a younger age and rising awareness about eye health are expected to drive growth of the eyewear market over the forecast period. For instance, according to WHO in 2017, around 253 million people had vision impairment of which 36 million were blind and 217 million had moderate to severe vision impairment, globally. The increasing use of computers and smartphones results has resulted in rising cases of Computer vision syndrome (CVS) caused due to focusing the eyes on a computer or other display device for long. This is expected to be another factor driving the growth of the eyewear market. Apart from this the changing fashion trends and availability of new lens technologies is expected to drive the growth of the market. For instance Chinese police have launched sunglasses with built-in facial recognition which are still in their testing stages. These factors are expected to drive the growth of the global eyewear market

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Market Dynamics

Increasing geriatric population globally coupled with rising prevalence of visual disorders are major driving factors, expected to drive growth of the global eyewear market. For instance, according to the World Health Organization, the number of people falling in the age group of 65 and above is estimated to be 1.5 billion in 2050. Further, changing fashion trends globally is expected to spur demand for sunglasses, globally. However, laser corrective techniques that are available to treat eye disorders could hamper growth of the market.

Europe held the dominant position in the global eyewear market in 2016, due to the increasing prevalence of defects related to the eye in the region. According to the WHO about 24.3% of the overall European population suffers from myopia, and the condition is nearly twice as common in younger people and around 47% of those of aged between 25 and 29 years have myopia. Apart from this, presence of leading industry players such as Luxottica Group S.p.A in Europe is another factor for significant growth of the regional market.

Detailed Segmentation:

Global Eyewear Market, By Product Type:
Spectacles
Sunglasses
Contact Lenses
Others

Global Eyewear Market, By Distribution Channel:
Online
Supermarkets
Hypermarkets
Specialty Stores
Others

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Some of the major market players operating in the eyewear market include Luxottica Group S.p.A, Valeant Pharmaceuticals International Inc., Fielmann A.G., CooperVision Inc., Safilo Group S.p.A., Carl Zeiss A.G. and Essilor International among others.

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