Eyewear Market Synopsis

Eyewear Market Size Was Valued at USD 159.6 Billion in 2023, and is Projected to Reach USD 275.0 Billion by 2032, Growing at a CAGR of 6.2% From 2024-2032.

Eyewear comprises artefacts like spectacles, contact lenses and any other object that is meant to be placed on the eyes. It also covers sunglasses which protects the eyes from UVA rays and safety goggles that are used in various activities. Eyewear fulfills basic utilitarian needs while also being used as an expression of fashion, so it rises to both categories’ needed definitions most people depend on eyewear for either function or style or both.

• The market is growing at a moderate rate as consumers’ awareness of the importance of eyesight is rising along with DDI, fashion consciousness, the technological development of the eyecare industry, and concerns about eye health.
• The factors that define the changes in the growth of the market are: The global increase in the population that has visual impairments, development of new technologies in eye wears, the increase in the population’s purchasing power, the soaring fashion and lifestyle concern, and the growing concern for eye care services.
• The key driving forces that are positively shaping the market growth include the utilization of the growing disposable income through enhancing measures on the standard of living, eating and personal health on wellness. Also, people are shifting and have a tendency to invest in better quality glasses for vision correction and as fashion accessories that will further fuel the growth of the market.
• Also, the growing distribution and convenience of a broad assortment of eyeglasses and sunglasses and frames for different price levels that reflect the given buyers’ purchasing power are contributing to the market development. In addition to this, the increase in the size of the market for online retail outlet and the availability of optical stores which has made the eyeglasses easily accessible from a broad base of the market is steering the market growth. In addition to this, advancement in the latest fashion trends is also contributing to continued growth of the market, specifically, the introduction of luxury brand eyewear as that of status symbols and fashion accessories thus, increasing the demand for new designer glasses as well as sunglasses.

Eyewear Market Trend Analysis

Increasing prevalence of visual impairments and eye disorders

• The increase in the number of visually impaired people and other eye related diseases has been observed across the globe and this in turns has also boosted the market. Also, due to increase in the global geriatric population couples with the alteration in the lifestyles turning into more of the screen-oriented people and exposing the eyes to factors causing deterioration in eyesight contributes to the growth of the market. In support of this, there is increased use of digital devices which causes digital eye strain or computer vision syndrome which is speak the growth of the market. Besides this, the increasing utilization of eyeglasses or contact lenses to cure the ailment and improve eyesight is favoring the growth scenario. Also, the rising health consciousness among the community on the eye due to the initiation of educative campaigns and easy availability of health care services has been uplifting the market growth.

Growing influence of fashion and lifestyle changes

• The demand of opticals as a fashion statement due to change in perceived perception and fashion insight puts the market in a positive trajectory for growth. Also, the growing trends of owning several pairs of the eyewear to match the several outfits and occasions are also driving the market. Further to this, the growing trend of celebrities and fashion icons’ influence on consumer trends wherein these celebrities and fashion icons are conquering the market by endorsing fashionable eyewear is also proving to be a growth catalyst. Besides this, the increasing trend of fashion an initially eyewear industry and due to which many styles, colors, and designs have been the market driving force. Apart from this, the strengthening of the designer eyewear line as the start of luxury brands to diversify itself is providing remunerative growth opportunities in the market.

Eyewear Market Segment Analysis:

Eyewear Market Segmented based on product, gender, and distribution channel.

By product, spectacles segment is expected to dominate the market during the forecast period

• The largest market share is taken by spectacles as it includes both corrective eyesight product which is glasses or frames. Also, the considerably high incidence of refractive errors, including myopia, hyperopia, and astigmatism, which requires prescription eyeglasses to correct are factors which are further fueling the market growth. Also, the increased number of spectacles requirement in the ageing population due to presbyopia creates a major market driving factor. Moreover, improvement of lightweight and strength in the spectacles’ frames along with different lens types, for example, anti-s default glare and blue wavelength filtering is also a catalyst for growth. Besides this, the fact that people are now widely using spectacles caused by the great demand for stylish frames and designer labels is further boosting the market’s growth.
• Sunglasses protect the eyes from the dangerous affects of ultraviolet (UV) radiation that is a cause of many eye diseases including cataracts and macular degeneration. In addition, the rising concern for understanding the need for UV eye protection along with the increased outdoor activities is driving the market. Also, the rising importance of fashion consciousness and strategic marketing trends, celebrities, and advertising methods that promote sunglasses as fashionable items is another driver to the market growth.

By gender, Unisex segment held the largest share in 2023

• Unisex eyewear has the largest market share: this is due to a social shift in people’s perception, especially the young adults, towards androgynous aesthetics, with designers seemingly embracing this social notion. By this, it is characterized by very flexible look and feel and fairly non-controversial colors that are in harmony with the modern buyer’s needs. Furthermore, it has appeared that unisex eyewear is provided in the frameworks of classical forms and new wave forms. Apart from this, an increase in the sale of unisex glasses because of the asthetic and environmental consciousness trends such as minimalism and sustainability that require lasting and simple products bear a favorable roundtrip for the market growth in the future. Also, convenience and another peculiar advantage, They are articles of use that can be used by all members of the family since it is unisex, at slightly lower costs than the branded ones.
• Men’s eyeglasses are designed in some distinct manner with reference to style concerns and facial structures common to male consumers. This entails features products from various categories including functional/sports eyewear that incorporates the sturdiness in the spectacles and sun glasses used in day to day life and the fashion or luxury brands spectacles where people wear them as fashion statements. Additionally, men’s eyeglasses are flexibly built and designed notably with an aerodynamic inspired geometrical outlook that puts an even heavier emphasis on comfort and resilience.
• Such range distinguishes women’s eyewear concerning the styles, colors, and designs present to potentially address different fashionable females. They have various product categories; socially correct frames, and stylish sunglasses. It fulfils the basic and auxiliary requirements of vision correction and sun protection as well as fashion. However, the women’s glasses have incorporated several features such as added appearance trinkets, distinct color shades as well as creative designs that will popularize the current fashion trends.

Eyewear Market Regional Insights:

Europe is Expected to Dominate the Market Over the Forecast period

• Europe has the largest market share due to an increased consumer purchasing capacity, many famous eyewear manufacturers, and increased attention to vision care. Besides, there is a relatively high growth in the geriatric population, and this group of the population is interested in vision correction products. Also, the obesity problem is leading to the enhanced requirement for high-standard products, and the increasing tendency towards prospects of designer labels is supporting the position. Besides, the strong and well-developed healthcare sector along with the established vision care policies, which provide eye care services to a larger populace, are driving the market growth. Besides this, the trend towards the trendy and technologically sound spectacles, owing to the fashion trends and concern towards the regions innovative and environmentally friendly aspects of the frames is anticipated to bolster the market growth trends.

Active Key Players in the Eyewear Market

• Johnson & Johnson Vision Care, Inc.
• ESSILORLUXOTTICA
• CooperVision
• Carl Zeiss AG
• Bausch & Lomb Inc.
• Safilo Group S.p.A.
• Charmant Group
• Chemilens (CHEMIGLAS Corp.)
• CIBA VISION
• De Rigo Vision S.p.A
• Fielmann AG
• HOYA Corporation
• JINS, Inc.
• Marchon Eyewear, Inc.
• Marcolin S.p.A
• QSpex Technologies
• Rodenstock GmbH
• Seiko Optical Products Co., Ltd.
• Shamir Optical Industry Ltd.
• Silhouette International Schmied AG
• Warby Parker
• Zenni Optical, Inc.
• Other Key Players

Key Industry Developments in the Eyewear Market:

• In December 2023, Carl Zeiss Meditec AG bought Dutch Ophthalmic Research Center (International) B. V. (D. O. R. C. ) from Eurazeo SE a Paris based investment firm. This acquisition will enrich and expand the existing portfolio of ZEISS Medical Technology ophthalmological division and the solutions for a digitally integrated workflow for the variety of ophthalmic therapeutic challenges including retina, cataract, glaucoma, and refractive disorders.
• In October 2023, Bausch + Lomb revealed that SeeNa, a new ophthalmic diagnostic system for refractive cataract patients will be available for U. S. market and it is completely compatible with the above mentioned Bausch & Lomb’s Eyetelligence surgical planning software to facilitate the flow of information and surgery planning.
• In October 2023, Alcon confirmed that it will release the TOTAL30 Multifocal, the monthly Water Gradient multifocal contact lens. The lenses have started to commercialize in the United States as well as some parts of the international market.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Eyewear Market by Product
 4.1 Eyewear Market Snapshot and Growth Engine
 4.2 Eyewear Market Overview
 4.3 Spectacles
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Spectacles: Geographic Segmentation Analysis
 4.4 Sunglasses
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Sunglasses: Geographic Segmentation Analysis
 4.5 Contact Lenses
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Contact Lenses: Geographic Segmentation Analysis

Chapter 5: Eyewear Market by Gender
 5.1 Eyewear Market Snapshot and Growth Engine
 5.2 Eyewear Market Overview
 5.3 Men
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Men: Geographic Segmentation Analysis
 5.4 Women
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Women: Geographic Segmentation Analysis
 5.5 Unisex
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Unisex: Geographic Segmentation Analysis

Chapter 6: Eyewear Market by Distribution Channel
 6.1 Eyewear Market Snapshot and Growth Engine
 6.2 Eyewear Market Overview
 6.3 Optical Stores
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Optical Stores: Geographic Segmentation Analysis
 6.4 Independent Brand Showrooms
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Independent Brand Showrooms: Geographic Segmentation Analysis
 6.5 Online Stores
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Online Stores: Geographic Segmentation Analysis
 6.6 Retail Stores
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Retail Stores: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Eyewear Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 JOHNSON & JOHNSON VISION CARE INC
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 ESSILORLUXOTTICA
 7.4 COOPERVISION
 7.5 CARL ZEISS AG
 7.6 BAUSCH & LOMB INC
 7.7 SAFILO GROUP SPA
 7.8 CHARMANT GROUP
 7.9 CHEMILENS (CHEMIGLAS CORP)
 7.10 CIBA VISION
 7.11 DE RIGO VISION SPA
 7.12 FIELMANN AG
 7.13 HOYA CORPORATION
 7.14 JINS INC
 7.15 MARCHON EYEWEAR INC
 7.16 MARCOLIN SPA
 7.17 QSPEX TECHNOLOGIES
 7.18 RODENSTOCK GMBH
 7.19 SEIKO OPTICAL PRODUCTS CO LTD
 7.20 SHAMIR OPTICAL INDUSTRY LTD
 7.21 SILHOUETTE INTERNATIONAL SCHMIED AG
 7.22 WARBY PARKER
 7.23 ZENNI OPTICAL INC
 7.24 OTHER KEY PLAYERS

Chapter 8: Global Eyewear Market By Region
 8.1 Overview
 8.2. North America Eyewear Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product
   8.2.4.1 Spectacles
   8.2.4.2 Sunglasses
   8.2.4.3 Contact Lenses
  8.2.5 Historic and Forecasted Market Size By Gender
   8.2.5.1 Men
   8.2.5.2 Women
   8.2.5.3 Unisex
  8.2.6 Historic and Forecasted Market Size By Distribution Channel
   8.2.6.1 Optical Stores
   8.2.6.2 Independent Brand Showrooms
   8.2.6.3 Online Stores
   8.2.6.4 Retail Stores
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
 8.3. Eastern Europe Eyewear Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product
   8.3.4.1 Spectacles
   8.3.4.2 Sunglasses
   8.3.4.3 Contact Lenses
  8.3.5 Historic and Forecasted Market Size By Gender
   8.3.5.1 Men
   8.3.5.2 Women
   8.3.5.3 Unisex
  8.3.6 Historic and Forecasted Market Size By Distribution Channel
   8.3.6.1 Optical Stores
   8.3.6.2 Independent Brand Showrooms
   8.3.6.3 Online Stores
   8.3.6.4 Retail Stores
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Eyewear Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product
   8.4.4.1 Spectacles
   8.4.4.2 Sunglasses
   8.4.4.3 Contact Lenses
  8.4.5 Historic and Forecasted Market Size By Gender
   8.4.5.1 Men
   8.4.5.2 Women
   8.4.5.3 Unisex
  8.4.6 Historic and Forecasted Market Size By Distribution Channel
   8.4.6.1 Optical Stores
   8.4.6.2 Independent Brand Showrooms
   8.4.6.3 Online Stores
   8.4.6.4 Retail Stores
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Eyewear Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product
   8.5.4.1 Spectacles
   8.5.4.2 Sunglasses
   8.5.4.3 Contact Lenses
  8.5.5 Historic and Forecasted Market Size By Gender
   8.5.5.1 Men
   8.5.5.2 Women
   8.5.5.3 Unisex
  8.5.6 Historic and Forecasted Market Size By Distribution Channel
   8.5.6.1 Optical Stores
   8.5.6.2 Independent Brand Showrooms
   8.5.6.3 Online Stores
   8.5.6.4 Retail Stores
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Eyewear Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product
   8.6.4.1 Spectacles
   8.6.4.2 Sunglasses
   8.6.4.3 Contact Lenses
  8.6.5 Historic and Forecasted Market Size By Gender
   8.6.5.1 Men
   8.6.5.2 Women
   8.6.5.3 Unisex
  8.6.6 Historic and Forecasted Market Size By Distribution Channel
   8.6.6.1 Optical Stores
   8.6.6.2 Independent Brand Showrooms
   8.6.6.3 Online Stores
   8.6.6.4 Retail Stores
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
 8.7. South America Eyewear Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product
   8.7.4.1 Spectacles
   8.7.4.2 Sunglasses
   8.7.4.3 Contact Lenses
  8.7.5 Historic and Forecasted Market Size By Gender
   8.7.5.1 Men
   8.7.5.2 Women
   8.7.5.3 Unisex
  8.7.6 Historic and Forecasted Market Size By Distribution Channel
   8.7.6.1 Optical Stores
   8.7.6.2 Independent Brand Showrooms
   8.7.6.3 Online Stores
   8.7.6.4 Retail Stores
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research