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Global Eyewear Market Valued at USD 178.98 Billion in 2024, Projected to Reach USD 229.35 Billion by 2029, Driven by Rising Vision Impairments and Fashion Trends

12-30-2024 08:51 AM CET | Consumer Goods & Retail

Press release from: Mordor Intelligence

Eyewear Market Size

Eyewear Market Size

Mordor Intelligence has published a new report on the Eyewear Market, offering a comprehensive analysis of trends, growth drivers, and future projections.

The global eyewear market, valued at USD 178.98 billion in 2024, is anticipated to grow at a compound annual growth rate (CAGR) of 5.08%, reaching USD 229.35 billion by 2029, according to a recent report by Mordor Intelligence. This growth is attributed to increasing vision impairments, heightened awareness of eye health, and the perception of eyewear as a fashion accessory. The eyewear industry encompasses a broad spectrum of products designed to enhance vision and protect the eyes, including spectacles, sunglasses, and contact lenses. In recent years, the market has experienced substantial growth, driven by factors such as the rising prevalence of vision impairments, increased consumer awareness regarding eye health, and the evolving perception of eyewear as a fashion statement. Technological advancements and the expansion of e-commerce platforms have further contributed to the market's expansion, making eyewear products more accessible to a global audience.

Report Overview: https://www.mordorintelligence.com/industry-reports/eyewear-market

Key Trends

Increasing Prevalence of Vision Impairments: The global rise in vision impairments, particularly among the aging population, has significantly boosted the demand for corrective eyewear. For instance, a 2021 survey in the United States revealed that 27.8% of adults aged over 71 years experienced vision impairment, underscoring the growing need for prescription spectacles and contact lenses.

Eyewear as a Fashion Accessory: Eyewear has transcended its functional role, becoming an integral part of personal style and fashion. Consumers, especially the younger demographic, are increasingly seeking stylish and trendy eyewear, driving demand for diverse designs and premium brands.

Technological Advancements: Innovations in eyewear technology, such as blue light filtering lenses, smart glasses, and improved contact lens materials, have enhanced product offerings, catering to the evolving needs of consumers and expanding the market.

Growth of E-commerce Platforms: The proliferation of online retail has made eyewear more accessible, allowing consumers to explore a wide range of products and make purchases from the comfort of their homes. This shift has been further accelerated by the COVID-19 pandemic, which increased reliance on online shopping.

Rising Awareness of Eye Protection: Increased awareness about the harmful effects of UV radiation and prolonged screen exposure has led to a surge in demand for protective eyewear, including sunglasses and computer glasses, contributing to market growth.

Market Segmentation

The eyewear market is segmented based on product type, end-user, distribution channel, and geography.

By Product Type:

Spectacles: Including prescription glasses and reading glasses.

Sunglasses: Polarized and non-polarized variants.

Contact Lenses: Soft lenses, rigid gas permeable lenses, and others.
Other Product Types: Protective eyewear, sports eyewear, etc.

By End User:

Men
Women
Unisex

By Distribution Channel:

Offline Channels: Optical stores, department stores, and specialty retailers.

Online Channels: E-commerce platforms and company websites.

By Geography:

North America: United States, Canada, Mexico, and others.

Europe: United Kingdom, Germany, France, Italy, Spain, and others.

Asia-Pacific: China, Japan, India, Australia, and others.

South America: Brazil, Argentina, and others.

Middle East and Africa: United Arab Emirates, South Africa, and others.

Get a Customized Report Tailored to Your Requirements: https://www.mordorintelligence.com/market-analysis/eyewear

Key Players

The eyewear market is characterized by the presence of several key players who contribute to its competitive landscape. Notable companies include:

EssilorLuxottica SA: A global leader in the design, manufacture, and distribution of ophthalmic lenses and frames.

Safilo Group S.p.A.: Renowned for its extensive portfolio of eyewear brands and commitment to quality and innovation.

Johnson & Johnson Services, Inc.: A major player in the contact lens segment, offering a range of vision care products.

The Cooper Companies, Inc.: Specializes in contact lenses and women's health care products, with a significant presence in the eyewear market.

Fielmann AG: A leading optical retailer in Europe, known for its wide selection of eyewear and customer-centric approach.

These companies are focusing on product innovation, strategic partnerships, and expanding their distribution networks to maintain a competitive edge in the market.

Conclusion

The global eyewear market is poised for steady growth, driven by increasing vision impairments, the rising popularity of eyewear as a fashion accessory, and technological advancements in eyewear products. As consumers continue to prioritize eye health and aesthetics, the demand for innovative and diverse eyewear solutions is expected to rise, offering significant opportunities for market players in the coming years.

Industry Related Reports

Saudi Arabia E-commerce Eyewear Market: The report delves into the analysis of the Saudi Arabia e-commerce eyewear market, segmenting it comprehensively by product type and end user. Under the product type category, the market includes spectacles, which cover prescription and reading glasses; sunglasses, available in both polarized and non-polarized variants for protection and style; contact lenses, ranging from soft lenses to rigid gas permeable types for vision correction and comfort; and other product types, including protective eyewear, sports glasses, and specialized options. The segmentation by end user encompasses products tailored for men, women, and unisex audiences, ensuring a broad appeal across different demographics and preferences in the region.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/saudi-arabia-e-commerce-eyewear-market

Protective Eyewear Market: The report examines the global demand for the military protection glasses industry, offering a detailed segmentation by product type, end-user industry, and geography. The product type category includes spectacles, welding protection glasses, overspecs, and goggles, each catering to specific protection needs. The end-user industry segmentation spans diverse sectors such as automotive, construction, food industry, pharmaceutical, mining, oil and gas, and other industries, reflecting the broad applicability of protection glasses across various fields. Geographically, the analysis covers North America, Europe, Asia-Pacific, South America, and the Middle East and Africa, providing insights into regional trends and market dynamics.

To know more visit this link: https://www.mordorintelligence.com/industry-reports/protective-eye-wear-market

For any inquiries or to access the full report, please contact:

media@mordorintelligence.com
https://www.mordorintelligence.com/

About Mordor Intelligence:

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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