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Eyewear Market 2027 | Key Findings, COVID – 19 Impact Analysis, Business Trends, Industry Segments, Regional Study, Emerging Technologies and Future Prospects

Eyewear Market

Eyewear Market

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. Furthermore, safety glasses are used in the construction industry to provide protection to workers against flying debris. 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.

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.

Market Restraints

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. The latest research indicates that laser-assisted in situ keratomileusis (LASIK) has a 99% success rate in achieving 20/40 vision or better, and a 90% the success rate in achieving 20/20 vision or better. Therefore, rising adoption of laser surgeries is estimated to restrict the market growth of eyewear.

Market Opportunities

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.

Market Trends

The rising trend of diversifying eyewear products in terms of frames and shapes with the latest design in order to match with the ongoing fashion is expected to foster the market growth of eyewear. Shifting preference of consumers towards diversified eyewear designs and increasing adoption of iconic fashion styles by celebrities is influencing customers to a great extent which is further anticipated to raise the demand for eyewear products, in turn, stimulating the market growth.

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.

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