Eyewear Market - Global Industry Analysis 2018

The global eyewear market has been growing at a substantial rate with the rising prevalence of vision disorders across the globe. A wide range of eyewear are available in the market in terms of size, material, quality, and frame. The growing awareness among consumers worldwide regarding the importance of eye check up is one of the primary factors expected to encourage the growth of the global eyewear market in the next few years. Moreover, the increasing number of players participating in the market and the expansion of their product portfolio are some of the key factors anticipated to accelerate the growth of the overall market.

According to the research study, in 2011, the global eyewear market was valued at US$81 bn and is predicted to reach a value of US$130 bn by the end of 2018. The market is expected to register a steady 3.70% CAGR between 2012 and 2018.

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Growing Number of Eye Disorders to Bolster Global Eyewear Market

The increasing disposable income of consumers and the high renewal rate of lenses are some of the primary factors expected to fuel the growth of the global eyewear market in the coming years. In addition, the expansion of the wearer base and the rising number of eye disorders are projected to supplement the growth of the market in the near future. On the other hand, the rising number of refractive surgeries taking place worldwide is anticipated to restrict the growth of the global eyewear market. Nonetheless, the growing population with uncorrected vision is one of the primary factor expected to generate promising opportunities for the leading players operating in the global market.

On the basis of product type, the global eyewear market has been classified into plano sunglasses, contact lenses, and spectacles. Among these, the spectacles segment led the global eyewear market in 2011 and is estimated to remain in the leading position in the next few years. The high growth of this segment can be attributed to the rising number of consumers who make use of eyewear. In addition, the wide range of options available for consumers and the rising fashion of wearing eyewear are estimated to accelerate the growth of this segment in the near future.

By geography, the global eyewear market has been classified into North America, Asia Pacific, Europe, and Rest of the World. In 2012, North America dominated the market in terms of volume, accounting for a 30% share in the global eyewear market. The rapid growth of this region can be attributed to the growing demand for sunglasses and contact lenses in the last few years. On the other hand, the Europe eyewear market led the overall market on the basis of revenue in 2011. Nevertheless, the eyewear market in Asia Pacific is projected to grow at a fast pace owing to the growing population in this region. The Asia Pacific eyewear market is estimated to register a 9% CAGR between 2012 and 2018, thanks to the substantial contribution from China and India.

The research study further analyzes the competitive landscape of the global eyewear market and present detailed profiles of the major players operating in the market. The product portfolio, business policies, financial overview, recent developments, and SWOT analysis of the players have also been included in the scope of the research study. Some of the prominent players mentioned in the research report are Essilor International, Vision Express, Luxottica Group S.p.A, Carl Zeiss AG, Fielmann AG, Specsavers Optical Group Ltd., CIBA Vision Inc., De Rigo S.p.A, Hoya Corporation, Safilo Group, Marchon Eyewear, Johnson & Johnson Vision Care, CooperVision, and Bausch & Lomb.

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