Eyewear Market in terms of revenue, growing at CAGR of 6.0% during the forecast period (2019-2027).

The global eyewear market is projected to reach around US$ 461.6 billion by the end of 2027, in terms of revenue, growing at CAGR of 6.0% during the forecast period (2019-2027).

Eyewear is intended to wear over the eyes for protection against environmental factors or for improving vision impairment. Eyeglasses or spectacles, sunglasses, goggles, and contact lenses are common types of eyewear. Eyewear is also used as a fashion statement due to a rising sense of fashion among people and people are adopting trendy and designer sunglasses due to the latest trend emerging in market. Eyewear products are gaining huge demand from the aging population as old aged people are highly prone to a developed wide range of vision-related problems.

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Demographic changes such as age, eye problems such as myopia, glaucoma, and fashion style among youngsters and growing awareness regarding eye health is some of the major factors expected to propel the global eyewear market. Also, the growing aged population is fueling the demand for prescription-based eyewear and readymade reading glasses which is again expected to foster the market growth of eyewear. Moreover, ongoing urbanization, increasing disposable income and changing lifestyle trends are further anticipated to augment the market growth of eyewear.

On basis of the region, Europe region dominated the global eyewear market, in 2018, accounting for 36% share in terms of revenue, followed by North America and Asia Pacific respectively.

Rising adoption of laser surgeries around the globe due to advancements in technologies is projected to hinder the market growth of eyewear. For example, a 2016 study published in the Journal of Cataract & Refractive Surgery revealed that laser-assisted in situ keratomileusis (LASIK) has a 96% patient satisfaction rate.

Increasing penetration of digital devices around the globe that expose eyes to artificial lights which are harmful is raising demand for eyeglasses, in turn, propelling the market growth of eyewear. Continuous exposure of the eye to digital screen such as mobile and tablets can affect human eyes and causes visual strain, thus growing digitalization is demanding eyewear products across the world and open new opportunities to the market over the forecast period.

Competitive Section

Key players operating in global eyewear market are Luxottica Group SpA, Essilor International S.A, Carl Zeiss AG, Hoya Corporation (Life Care), Johnson & Johnson Vision Care, Inc., Cooper Companies Inc., Fielmann AG., Safilo Group Spa, Marcolin S.p.A., De Rigo S.p.A.

Market Taxonomy

Global Eyewear Market, By Product Type:
Spectacles
Plano Sunglasses
Contact Lenses
Sportswear
Eye Care

Global Eyewear Market, By Price Range:
Premium
Mid
Low

Global Eyewear Market, By Distribution Channel:
E-Commerce/Online
Company Outlets/Franchises
Hospitals
Clinics
Multi-brand Stores

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