Global Eyewear Market Size, Trends, and Growth Opportunity, By Product (Contact Lenses, Spectacles, Sunglasses, and Other Product Types), Gender (Men, Women, and Unisex), Distribution Channel (Online Stores, Optical Stores, Independent Brand Showrooms and Retail Stores) By Region and forecast till 2030.
Global Eyewear Market
Global Eyewear Market was valued at USD 121.58 Billion in 2022 and is slated to reach USD 217.46 Billion by 2030 at a CAGR of 7.53 % from 2023-2030.
Eyewear includes items worn to shield the eyes from numerous external influences such as dust, light, hazardous radiation, and harsh environmental changes, and also for vision correction. It includes eyeglasses, sunglasses, contact lenses, and a variety of lenses and frames that are often composed of glass, carbon fiber, and plastic. It increases visual acuity while reducing the risk of UV rays harming the human eye's lens and retina.
Market Drivers
The increase in the number of people entering the global workforce and the expectation that a large portion of them will engage in sports and fitness as recreational activities are changing people's lifestyle preferences. The popularity of endurance sports has also opened the door for fans who desire a variety of sports accessories, which has helped to increase demand for sports sunglasses around the world. In recent years, the number of people participating in outdoor activities has increased. Examples include the first open water 10K race in the UK, the Tour de France, heliskiing across Canada, and Ironman 70.3 Pays d'Aix. Additionally, by focusing specifically on fans of winter and skiing activities, companies like Mr. Leight, Prada Linea Rossa, Persol, and Cartier are offering consumers the newest styles in the sports sunglasses industry. From roughly 790 per 100,000 individuals in 2018 to an expected 1250 per 100,000 people in 2019, the prevalence of cataract-related eyesight rose by about 55% globally. After cataract surgery, eyewear is required. Even though many people see an improvement in their vision, others may still require some sort of eyewear. People are uncomfortable in some way even before having cataract surgery. Eyewear is used following cataract surgery due to pain. This aspect is therefore anticipated to accelerate market growth during the anticipated timeframe.
Market Restraints
Uneven distribution of medical services, an increase in the use of surgeries to treat vision disorders, a lack of adequate infrastructure, and a lack of awareness in developing nations are some of the major factors that are predicted to restrain the market growth. In addition, the availability of choices like Lasik eye surgery, rising stent-related problems, and a lack of adequate infrastructure in low- and middle-income countries are predicted to provide challenges to market expansion over the projected period of 2023–2030.
Impact of COVID-19
The worldwide expansion of the coronavirus has had a considerable impact on contact lens, sunglass, and prescription eyeglass sales. During the early stages of the pandemic's spread, governments all across the world imposed draconian lockdowns. Due to this, ophthalmology clinics and retail establishments had to close for a while. For instance, the COVID-19 health emergency caused the volume of Retina clinic visits in May 2021 to decline by 62 percent, according to BMC Ophthalmology. A decline in sales revenue has been experienced by several market participants as a result of the cancellation of non-urgent eye test appointments. For instance, the vision care division of Johnson & Johnson Services, Inc. saw a sales revenue decline of 11.7% from 2019 to 2020. The pandemic-related delays in the production and shipping of sunglasses, contact lenses, and eyeglasses have also contributed to the anticipated fall in the eyewear market in 2020.
Recent Developments
Smith imprint 3D technology will be available in 2021, according to an announcement from Saflio Group. It will handle a wide variety of facial characteristics and shapes and do away with the idea that sports apparel should be one size fits all. Snow goggles made using 3D printing offer improved all-day comfort, the removal of light leaks caused by poor fit, an increased field of view, and the elimination of pressure points or hot spots—all of which were significant issues that customers were encountering. For the production, development, and distribution of optical frames and Isabel Marant sunglasses, Isabel Marant and Safilo Group signed a new, ten-year license deal in 2020.
Market Segmentation
Global Eyewear Market is segmented By Product, Gender, and Distribution Channel. By Products such as Contact Lenses, Spectacles, Sunglasses, and Other Product Types. By Genders such as Men, Women, and Unisex. By Distribution channels such as Online Stores, Optical Stores, Independent Brand Showrooms, and Retail Stores.
Regional Analysis
Global Eyewear Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Due to its growing population and customers' rising acceptance of trendy products, Asia-Pacific currently holds a disproportionately large market share and revenue share in the eyeglass industry. Increased consumer desire for natural pillow fillings and rising personal disposable income will further contribute to the market's expansion. Due to the increasing demand for eyeglasses, including colored contact lenses, sunglasses, and frames as fashion accessories in this area, Europe is anticipated to see the quickest growth during the projected period of 2023–2030.
Key Players
This report includes a list of numerous Key Players, namely Estée Lauder Inc (U.S.), THE AVON COMPANY (U.K.), De Rigo Vision S.p.A. (Italy), Essilor (France), Fielmann (Germany), HOYA Corporation (Japan), Shanghai Conant Optics Co., Ltd (China), Pivothead (U.S.), Specsavers (Guernsey), FASTRACK LTD. (India). Market Taxonomy
By Product
• Spectacles
• Sunglasses
• Contact Lenses
• Other Product Types
By Gender
• Men
• Women
• Unisex
By Distribution Channel
• Optical Stores
• Independent Brand Showrooms
• Online Stores
• Retail Stores
By Region
• North America Latin America
Europe
• Asia Pacific
• Middle East & Africa.
Global Eyewear Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Eyewear Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Eyewear Market, By Product
5.1 Y-o-Y Growth Comparison, By Product
5.2 Global Eyewear Market Share Analysis, By Product
5.3 Global Eyewear Market Size and Forecast, By Product
5.3.1 Spectacles
5.3.2 Sunglasses
5.3.3 Contact Lenses
5.3.4 Other Product Types
6 Global Eyewear Market, By Gender
6.1 Y-o-Y Growth Comparison, By Gender
6.2 Global Eyewear Market Share Analysis, By Gender
6.3 Global Eyewear Market Size and Forecast, By Gender
6.3.1 Men
5.3.2 Women
5.3.3 Unisex
7 Global Eyewear Market, By Distribution Channel
7.1 Y-o-Y Growth Comparison, By Distribution Channel
7.2 Global Eyewear Market Share Analysis, By Distribution Channel
7.3 Global Eyewear Market Size and Forecast, By Distribution Channel
7.3.1 Optical Stores
7.3.2 Independent Brand Showrooms
7.3.3 Online Stores
7.3.4 Retail Stores
8) Global Eyewear Market, By Region
8.1 Global Eyewear Market Share Analysis, By Region
8.2 Global Eyewear Market Share Analysis, By Region
8.3 Global Eyewear Market Size and Forecast, By Region
9) North America Eyewear Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 North America Eyewear Market Share Analysis, By Product
9.3 North America Eyewear Market Size and Forecast, By Distribution Channel
9.4 North America Eyewear Market Size and Forecast, By Gender
9.5 North America Eyewear Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10) EuropeEyewear Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Europe Eyewear Market Share Analysis, By Product
10.3 Europe Eyewear Market Size and Forecast, By Distribution Channel
10.4 Europe Eyewear Market Size and Forecast, By Gender
10.5 Europe Eyewear Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4. Rest of Europe
11) Asia Pacific Eyewear Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Asia Pacific Eyewear Market Share Analysis, By Product
11.3 Asia Pacific Eyewear Market Size and Forecast, By Distribution Channel
11.4 Asia Pacific Eyewear Market Size and Forecast, By Gender
11.5 Asia Pacific Eyewear Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12) Latin America Eyewear Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Latin America Eyewear Market Share Analysis, By Product
12.3 Latin America Eyewear Market Size and Forecast, By Distribution Channel
12.4 Latin America Eyewear Market Size and Forecast, By Gender
12.5 Latin America Eyewear Market Size and Forecast, Country
12.5.1. Brazil
12.5.2.Rest of Latin America
13) Middle East Eyewear Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Middle East Eyewear Market Share Analysis, By Product
13.3 Middle East Eyewear Market Size and Forecast, By Distribution Channel
13.4 Middle East Eyewear Market Size and Forecast, By Gender
13.5 Middle East Eyewear Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14) Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15) Company Profiles
15.1 Estée Lauder Inc (U.S.)
15.1.1 Overview
15.1.2 Products
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. THE AVON COMPANY (U.K.)
15.2.1 Overview
15.2.2 Products
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
12.2.6 Key Strategies
15.3. De Rigo Vision S.p.A. (Italy)
15.3.1 Overview
15.3.2 Products
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Essilor (France)
15.4.1 Overview
15.4.2 Products
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 Fielmann (Germany)
15.5.1 Overview
15.5.2 Products
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 HOYA Corporation (Japan)
15.6.1 Overview
15.6.2 Products
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Shanghai Conant Optics Co., Ltd (China)
15.7.1 Overview
15.7.2 Products
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Pivothead (U.S.)
15.8.1 Overview
15.8.2 Products
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Specsavers (Guernsey)
15.9.1 Overview
15.9.2 Products
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 FASTRACK LTD. (India)
15.10.1 Overview
15.10.2 Products
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
