Press release
Global Eyewear Market to reach US$ 223.22 Billion by 2030
Expert Insights: Ask Analyst or Download Full Report with TOC & Figures: https://www.renub.com/eyewear-market-p.php
One prominent driver of the industry's growth is the surging demand for sunglasses. People have become increasingly aware of the detrimental effects of harmful UV rays, prompting a heightened consciousness regarding eye protection. Simultaneously, the modern inclination towards adopting fashion trends has contributed to the expansion of the global eyewear market. Eyewear has transcended its practical function and has emerged as a powerful tool for self-expression and style, elevating one's personality through fashionable accessories.
Global eyewear market is projected to achieve a noteworthy compound annual growth rate (CAGR) of 7.40% between 2023 and 2030
As people become more conscious of the importance of eye health and the need for vision correction, the market is witnessing a surge in consumer interest. The growing prevalence of eye-related ailments and visual impairments is propelling the demand for eyewear solutions, including prescription glasses, contact lenses, and other vision-enhancing products. Changing lifestyle trends and evolving fashion preferences are driving the expansion of the eyewear market.
Eyewear is no longer viewed solely as a functional item but has evolved into a fashion accessory, allowing individuals to express their unique style and personality. As fashion-conscious consumers seek to stay up-to-date with the latest eyewear trends, the market experiences a boost in sales and innovation, catering to diverse tastes and preferences. The integration of cutting-edge technologies, such as smart glasses and augmented reality (AR) capabilities, is reshaping the way eyewear is perceived and utilized. As more individuals gain access to healthcare and eye care services, the demand for eyewear is expected to surge. Rising disposable incomes, urbanization, and increased awareness of eye health are contributing factors that will fuel the market's growth during the forecast period. The global eyewear market has reached an impressive milestone, with a substantial valuation of US$ 126.09 Billion in 2022.
Spectacles' reliability, style, and effectiveness in vision correction have made them the preferred choice worldwide
By product Type, Global Eyewear Market is segmented into Spectacles, Sunglasses and Contact Lenses. Spectacles, with their innovative design and functionality, have emerged as the dominant player in the global eyewear market. Spectacles' highest market share in the global eyewear market can be attributed to their cutting-edge technology, fashion-forward approach, social media integration, convenience, branding, distribution network, consumer trust, innovation, versatility, and competitive pricing. As they continue to evolve and captivate consumers with their offerings, their market leadership seems poised to endure in the foreseeable future.
Contact lenses have witnessed unparalleled growth, becoming the fastest growing segment in the global eyewear market. Their ability to provide vision correction without the need for frames has appealed to a broad range of consumers. With continuous advancements in technology and a growing emphasis on eye health, contact lenses are poised for sustained expansion.
Offline eyewear market continues to hold a significant position despite the rise of online shopping
By Mode of Sales, Global Eyewear Market is divided into Offline and online. The offline eyewear market continues to hold a significant position in the industry, catering to a diverse range of consumers. Despite the rise of online shopping, many individuals still prefer the offline eyewear shopping experience. Physical stores offer the advantage of trying on frames, receiving personalized assistance from opticians, and getting accurate measurements for prescription lenses. Moreover, offline stores allow customers to examine the quality and craftsmanship of frames before making a purchase. The offline eyewear market thrives on the value it provides through hands-on interactions, expert advice, and the assurance of a seamless and satisfactory shopping experience.
Online eyewear sales are experiencing remarkable growth worldwide. With the convenience of virtual try-on tools, extensive product selections, and doorstep delivery, customers are increasingly opting for online platforms to purchase eyewear. This trend is reshaping the industry and driving significant sales growth in the online eyewear market.
Women eyewear segment is experiencing remarkable growth and is expected to continue flourishing in the global eyewear market
By End Users, Global Eyewear Market is classified into Men, Women and Unisex. The eyewear industry is witnessing a notable surge in sales specifically within the women segment. Women eyewear sales are experiencing remarkable growth worldwide as more women recognize the importance of both functionality and style in their eyewear choices. With an increasing emphasis on fashion-forward frames, women are seeking eyewear that complements their personal style and enhances their overall look. Eyewear brands have responded to this demand by offering a wide range of trendy and feminine designs, catering to diverse preferences. This growing focus on women's eyewear sales reflects the evolving fashion landscape and the significant influence of women as key consumers in the global eyewear market.
United States eyewear market continues to evolve, driven by consumer trends, technological advancements, and a commitment to meeting the diverse needs of customers
By Country, Global Eyewear Market is breakup into United States, Canada, Mexico, Brazil, United Kingdom, Germany, France, Italy, Spain, Netherlands, China, Japan, India, South Korea, Australia, South Africa, United Arab Emirates and Rest of the World. The United States eyewear market is a thriving industry characterized by a robust consumer base and diverse product offerings. With a focus on fashion, function, and vision correction, the market caters to a wide range of customer preferences. Established eyewear brands and innovative startups alike compete in this competitive landscape, introducing stylish frames, advanced lens technologies, and customizable options. The growing awareness about eye health, the prevalence of digital device usage, and the aging population contribute to the market's growth. Additionally, online platforms have gained popularity, offering convenience and an extensive selection. The United States eyewear market continues to evolve, providing consumers with an array of choices and driving innovation in the industry.
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Key Player
Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision are prominent competitors in the eyewear industry.
Product Type - Market breakup from 3 Viewpoints:
1. Spectacles
2. Sunglasses
3. Contact lenses
Mode of Sales - Market breakup from 2 Viewpoints:
1. Online
2. Offline
End-Users - Market breakup from 3 Viewpoints:
1. Men
2. Women
3. Unisex
Country - Market breakup from 18 Viewpoints:
1. United States
2. Canada
3. Mexico
4. Brazil
5. United Kingdom
6. Germany
7. France
8. Italy
9. Spain
10. Netherlands
11. China
12. Japan
13. India
14. South Korea
15. Australia
16. South Africa
17. United Arab Emirates
18. Rest of the World
Company has been covered from 3 Viewpoints:
1. Overview
2. Recent Development
3. Revenue
Company Analysis:
1. Burberry Group
2. Essilor Luxottica
3. Carl Zeiss Group
4. Hoya Corporation
5. Prada
6. Tesco
7. Louis Vuitton
8. Cooper Vision
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