Eyewear Market Size, Industry Trends, Application Scope, Business Insights, Competitive Analysis and Forecast to 2030 | Luxottica Group SpA, Essilor International S.A

Market Overview:

The eyewear market comprises of products such as prescription glasses, sunglasses and protective eyewear which are designed to protect the eyes from environmental hazards, sunlight or correct vision. These products find wide applications in various end use industries such as fashion and sports.

Market Dynamics:

Increasing prevalence of myopia and other vision defects globally is expected to drive the demand for prescription glasses during the forecast period. As per statistics, nearly 50% of the world's population is expected to have myopia by 2050. Secondly, growing health awareness about the harmful effects of UV radiation and blue light on eyes is propelling the sales of sunglasses and computer glasses, thereby fueling the market growth. Consumers are increasingly purchasing sunglasses and blue light blocking glasses to reduce eye strain from excessive screen time as well as provide protection from sun.

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Major market players included in this report 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.

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Product Type
✦ Prescription glasses/spectacles
✦ Sunglasses

Contact lenses
✦ By Mode of Sale
✦ Retail stores
✦ Online stores

By End User
✦ Men
✦ Women

Regional Analysis:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✤ Increased Focus on Vision Care and Eye Health

The eyewear market has seen significant growth in recent years due to the increasing focus on vision care and eye health among consumers. Regular eye checkups have become more common as people recognize the importance of early detection and treatment of vision problems and eye diseases. Many eye conditions such as diabetes, macular degeneration, and glaucoma can be effectively managed if diagnosed at an early stage. More timely treatment leads to better health outcomes. The rising health consciousness has driven up demand for prescription eyewear and sunglasses.

✤ Rising Technology Adoption in Lens Manufacturing

Advances in lens manufacturing technology have enabled eyewear brands to offer frames with highly customized and precise lenses. Technologies such as digital surfacing, freeform lens design, and anti-reflective coatings allow for a wider range of prescriptions to be filled accurately. Lenses can now correct multiple vision issues simultaneously. This has significantly expanded the addressable market beyond those needing basic refractive corrections. Consumers appreciate the improved vision, comfort, and aesthetic appeal of premium lenses manufactured using advanced technologies.

✤ Increased Usage of Smartphones and Digital Devices

The proliferation of digital devices such as smartphones, tablets, laptops, and e-readers has contributed to higher rates of computer vision syndrome and digital eye strain among users. Staring at bright screens for extended periods causes eye dryness, irritation, headache, and blurred vision. Wearing computer glasses with blue light filtering lenses provides relief from digital eye strain symptoms. As device usage continues growing, demand for eyewear tailored for digital lifestyle protection will increase accordingly.

✤ Challenges in Manufacturing Scale and Cost Control

A major challenge faced in the eyewear industry is achieving efficient manufacturing operations at scale while maintaining stringent quality control standards. High customization requirements due to the large number of frame and lens combinations add complexity. Lens production involving multi-step processes like surfacing, coating, and edge polishing drives up costs. Though technology adoption has improved productivity, growing customer expectations regarding design, functionality and price points exert pressure on margins. Favorable trade policies and outsourcing certain production activities help to some extent in managing costs. However, building a resilient supply chain able to support fast growth remains a key restrain.

✤ Opportunities in Emerging Markets

Despite recent expansion, large untapped opportunities still exist in developing markets where eyewear penetration rates are relatively low compared to mature regions. Countries in Asia, Latin America, Africa, and the Middle East represent a promising growth avenue due to their growing populations and increasing disposable incomes. Earmarking investments to penetrate new geographical territories and expand local manufacturing infrastructure would help increase accessibility and affordability of branded products. Localization strategies tailored to each market's unique social, economic and cultural dynamics can unlock strong growth trajectories in emerging markets.

✤ Evolving Consumer Preferences Drive Innovation

The eyewear industry landscape is rapidly evolving due to changing consumer mindsets and lifestyles. Younger demographics expect greater personalization, quick fashion cycles, and omnichannel experiences on their terms. Novel materials, frame designs, and digital solutions are gaining prominence to blend vision and lifestyle needs seamlessly. Increasing consumerization of eyecare is spurring the development of direct-to-consumer labels along with disruptive retail formats. Technology integration into eyewear for functions beyond vision correction will remain an important trend. Brands proactively innovating products and services to match shifting tastes will be best placed to thrive in the future.

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Key Questions

• How much revenue will the global Eyewear Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Eyewear Market?

• What are the indicators expected to drive the global Eyewear Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Eyewear Market to expand their geographical presence?

• What are the major advancements witnessed in the global Eyewear Market?

• This report answers these questions and more about the global Eyewear Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Eyewear Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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