The global eyewear market size reached US$140 billion in 2021. Looking ahead, the market is expected to be worth $209.5 billion by 2027, at a CAGR of 6.96% over 2022-2027.
Base year: 2021
Forecast year: 2022-2027
Industry definition and application:
Eyewear refers to products worn over the eyes to provide protection and improve visual acuity. Aside from vision, these corrective accessories are used for environmental protection and jewelry purposes. Eyewear products are manufactured in the form of contact lenses, sunglasses and glasses. The increasing use of electronic devices or gadgets has led to an increasing prevalence of eye diseases. Aside from that, aging and prolonged exposure to UV rays have also led to an increase in vision problems among consumers of all demographics.
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Global Eyewear Market Trends
The growth of the global eyewear market can be attributed to the rising cases of low vision, the need for vision correction and increasing sales of contact lenses and prescription glasses. Apart from that, rapid advances in technology have led to an increase in usage of smart devices across the world, leading to multiple eye problems like astigmatism, farsightedness and shortsightedness among the young demographic.
Largest Top Eyewear Companies in Eyewear Industry:- https://bit.ly/3N9659l
In addition, there has been an increasing demand for designer and trendy eyewear and sunglasses among consumers to enhance their looks, which supports the market growth. Additionally, governments of several nations are taking initiatives to spread awareness about the availability of advanced eye treatment methods and further impel the growth of the market.
The eyewear industry competitive landscape has also been studied with some of the market players being Luxottica Group SpA, Essilor International SAS, Johnson & Johnson Vision Care, Inc., Safilo Group SpA and Alcon Vision LLC.
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Global Eyewear Market Segment By Type:
- In terms of product, eyewear is the most popular eyewear product. Other important product types are sunglasses and contact lenses.
- Based on gender, unisex eyewear products dominate the market and account for the majority of the market share. These products are followed by products for men and women.
- Based on distribution channel, the market has been segmented into optical stores, independent brand showrooms, online stores and retail stores. Among these optical stores, they represent the most extensive sales channel.
- Regionally, Europe clearly dominates the market. Other important regions include North America, Asia Pacific, Latin America, and the Middle East and Africa.
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