Eyewear Market

Eyewear Market by Products (Contact Lenses [Premium Contact Lenses and Mass Contact Lenses], Spectacles [Spectacle Frames {Type (Premium Spectacle Frame and Mass Spectacle Frame), Style (Round, Square, Rectangle, Oval, and Others)}, and Spectacle Lenses] and Sunglasses [Lens Type {Polarized Sunglasses and Non-Polarized Sunglasses} and Lens Material{CR-39, Polycarbonate, Polyurethane and Others}]), Distribution Channels (E-commerce and Brick & Mortar), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CG-2086
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 3
  • No. Of Pages: 160
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The global eyewear market size was valued at USD 147 billion in 2020 and is anticipated to expand at a CAGR of 8.5% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing preference of fashion in the young population along with high number of eyewear manufacturers in the market.

Eyewear Market Key Takeaways

Eyewear are lenses, spectacles, and sunglasses used to correction of vision along with protection of eyes from harmful dust particles and UV lights. The eyewear manufacturer are using innovative technology and process to improve the buyers experience and to construct business relation better. Organizations such as Coolwinks and Vision Express are offering an eye check-up service for free or in homes to their customers. The companies also offers customers choice of their frames coupled with real-time trial.

The fast pace growth of social media is a key factor for the eyewear market growth. The social media platforms allows the companies to perform an analysis of customers’ choices and demands. This enables them to develop the products as per the needs of the buyer. The large number of population on platforms such as Instagram, Twitter, and Facebook allows the companies to pierce the market more precisely. The social media platforms permit companies to implement innovative marketing strategies such as affiliate marketing, and influencer marketing.

The COVID-19 pandemic has impacted the market as it has changed in acceptance of eyewear in 2020. The nationwide lockdowns, travel restrictions, and the application of work from home (WFH) models by various organizations has led to increase in screen time of the working people as well as increased stress on the eyes. The increase in eye fatigue have raised the requirement for the use of anti-fatigue and glasses vision correction. This has enabled the companies to attract higher revenue of anti-fatigue and blue light canceling lenses. This shows that the pandemic has positively impacted the global market.

Market Trends, Drivers, Restraints, and Opportunities

  • Online advertising and E-retailing are propelling the sales of eyewear around the globe. As the major market players are extensively executing their online promotional and marketing strategies. This enables the customers to access various options with ease. This factor is set to push the market sales in the near future.
  • High investments or funding by the key market players fir innovative techniques or methods for high quality glasses manufacturing is boosting the market in the coming years.
  • The proactive approach of the buyers is proving to generate opportunities for providers to extend the customer base. This is boosting the market during the forecast period.
  • The fast respond to changing fashion trends and increase in fashion enthusiasts, the organizations are constantly brining in new and innovative products. This allows high revenue generation opportunities for the organizations during the forecast period.

Scope of the Report

The report on the global eyewear market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Eyewear Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Products (Contact Lenses [Premium Contact Lenses and Mass Contact Lenses], Spectacles [Spectacle Frames {Type (Premium Spectacle Frame and Mass Spectacle Frame), Style (Round, Square, Rectangle, Oval, and Others)}, and Spectacle Lenses] and Sunglasses [Lens Type {Polarized Sunglasses and Non-Polarized Sunglasses} and Lens Material{CR-39, Polycarbonate, Polyurethane and Others}]), Distribution Channels (E-commerce and Brick & Mortar)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Johnson & Johnson Vision Care, Inc.; ESSILORLUXOTTICA; CooperVision; Carl Zeiss AG.; Bausch & Lomb Inc.; and Safilo Group S.p.A

Market Segment Insights

Spectacles segment is expected to grow at a rapid pace

Based on products, the global eyewear market is divided into contact lenses, spectacles, and sunglasses. The contact lenses segment further classifies as premium contact lenses and mass contact lenses. The spectacles segment in segregated into spectacle frames and spectacles lenses. The spectacle frames are segmented as types and styles, the types of spectacle frames are premium spectacle frame and mass spectacle frame and styles are round, square, rectangle, oval, and others. The sunglasses segment is distributed into lens type and lens material. The lens types are polarized sunglasses and non-polarized sunglasses and materials are CR-39, polycarbonate, polyurethane and others. The spectacles segment is expected to grow at a rapid pace owing to the increased use of digital and smartphones which increases the stress on the eyes and has increased the need of spectacles. Moreover, the rising incidence of computer vision syndrome (CVS) in the world. The rising acceptance of the online learning has increased incidences of children developing CVS, this is boosting the anti-glare and anti-fatigue glasses market. These factors are boosting the market for fast growth in the near future.

The contact lenses segment is also anticipated to demonstrate good growth in the coming future. As constant ongoing research on the contact lenses for developing of highly advanced and improved product with better aesthetics and user experience. The launch of multifocal toric lenses and light-adaptive lenses are the vital factor for the growth of the segment. The modified lenses offers the quick changing and smooth display for various lighting environments.

The electronic focusing eyeglasses are gaining popularity in the projected time as it is highly advanced with has wide range advantages. The benefits of the product is propelling the demand in the market and is expected to gain considerable market share in the future.

Brick & mortar segment is projected to expand at a considerable CAGR

On the basis of distribution channels, the global market is bifurcated into E-commerce and bricks & mortar. The brick & mortar segment is projected to expand at a considerable CAGR. More than 79% of revenue share was recorded by the segment in year 2020. This is attributed to the factors such as, the high preference of the population to go by the normal trend of eye check up by the optometrist is a strong backbone for the segment. Various companies such as eyebobs, LLC, Vision Service Plan, and Glassic are boosting the market segment by introducing new tactics and increasing awareness about the new product in the population.

The E-commerce segment is projected to grow at a significant rate owing to the impact of COVID-19 which increased the need of online shopping and use of eyewear. Moreover, increase in use of digital devices and impressive discounts along with access to compare different products by it prices with ease is the key factor for increasing growth of the market. The inclining number of startups in the sector such as Hubble, Ace & Tate, and Eyewa are pushing the segment for new level of success in the future.

Eyewear Market By Distribution Channels

Europe is anticipated to constitute a key market share

In terms of regions, the global eyewear market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.

Europe is anticipated to constitute a key market share owing to the high preference of the population for fashion which increases the use of sunglasses, frames, and contact lenses. Furthermore, the presence of various fashion companies such as, Christian Dior, Guccio Gucci S.p.A., Prada S.p.A., and TOM FORD are boosting the market of the region. The sunglasses and eyewear products are under personal protective equipment (PPE) in Europe that making it compulsory for providers to maintain the quality and stick to the directives. This makes the market regulated and gives high quality products to the customers.

North America is anticipated to grow at substantial rate due to the presence of highly skilled health professionals and eye experts. The advanced technology gives the improved quality output of the products which increases the demand for the products in the market. The various services such as in person appointments and virtual telemedicine visits along with improved e-commerce system has proved to be the key propelling factor for the market in the region.

Eyewear Market By Regions

Segments

Segments Covered in the Report
The global eyewear market has been segmented on the basis of
Products
  • Contact Lenses
    • Premium Contact Lenses
    • Mass Contact Lenses
  • Spectacles
    • Spectacle Frames
      • Type
        • Premium Spectacle Frame
        • Mass Spectacle Frame
      • Style
        • Round
        • Square
        • Rectangle
        • Oval
        • Others
    • Spectacle Lenses
  • Sunglasses
    • Lens Type
      • Polarized Sunglasses
      • Non-Polarized Sunglasses
    • Lens Material
      • CR-39
      • Polycarbonate
      • Polyurethane
      • Others
Distribution Channels
  • E-commerce
  • Brick & Mortar
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Johnson & Johnson Vision Care, Inc.
  • ESSILORLUXOTTICA
  • CooperVision
  • Carl Zeiss AG.
  • Bausch & Lomb Inc.
  • Safilo Group S.p.A

Competitive Landscape

The key players in the global eyewear market are ESSILORLUXOTTICA; Bausch & Lomb Inc.; CooperVision; Carl Zeiss AG.; Johnson & Johnson Vision Care, Inc.; and Safilo Group S.p.A. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.

Eyewear Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Eyewear Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Eyewear Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Eyewear Market - Supply Chain
  4.5. Global Eyewear Market Forecast
     4.5.1. Eyewear Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Eyewear Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Eyewear Market Absolute $ Opportunity
5. Global Eyewear Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Eyewear Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Eyewear Demand Share Forecast, 2019-2026
6. North America Eyewear Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Eyewear Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Eyewear Demand Share Forecast, 2019-2026
7. Latin America Eyewear Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Eyewear Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Eyewear Demand Share Forecast, 2019-2026
8. Europe Eyewear Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Eyewear Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Eyewear Demand Share Forecast, 2019-2026
9. Asia Pacific Eyewear Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Eyewear Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Eyewear Demand Share Forecast, 2019-2026
10. Middle East & Africa Eyewear Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Eyewear Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Eyewear Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Eyewear Market: Market Share Analysis
  11.2. Eyewear Distributors and Customers
  11.3. Eyewear Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Johnson & Johnson Vision Care, Inc. ESSILORLUXOTTICA CooperVision Carl Zeiss AG. Bausch & Lomb Inc. Safilo Group S.p.A
Segments Covered in the Report
The global eyewear market has been segmented on the basis of
Products
  • Contact Lenses
    • Premium Contact Lenses
    • Mass Contact Lenses
  • Spectacles
    • Spectacle Frames
      • Type
        • Premium Spectacle Frame
        • Mass Spectacle Frame
      • Style
        • Round
        • Square
        • Rectangle
        • Oval
        • Others
    • Spectacle Lenses
  • Sunglasses
    • Lens Type
      • Polarized Sunglasses
      • Non-Polarized Sunglasses
    • Lens Material
      • CR-39
      • Polycarbonate
      • Polyurethane
      • Others
Distribution Channels
  • E-commerce
  • Brick & Mortar
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Johnson & Johnson Vision Care, Inc.
  • ESSILORLUXOTTICA
  • CooperVision
  • Carl Zeiss AG.
  • Bausch & Lomb Inc.
  • Safilo Group S.p.A

The key players in the global eyewear market are ESSILORLUXOTTICA; Bausch & Lomb Inc.; CooperVision; Carl Zeiss AG.; Johnson & Johnson Vision Care, Inc.; and Safilo Group S.p.A. These key players have adopted a series of market strategies including new product launching, entering into partnership, collaboration, and production expansion to enhance their market position and expand their consumer base.

Eyewear Market By Key Players

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