The global eyewear market size reached around US$ 132 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$ 196 Billion by 2026, exhibiting a CAGR of around 7% during 2021-2026, according to the latest report by IMARC Group.
Eyewear products help in improving the visual acuity and protecting the eyes against environmental damage. The increasing usage of electronic gadgets or devices by both the children and adults has led to a rise in the prevalence of eyesight related problems. Moreover, extreme exposure to UV rays and population aging have also led to an increase in the cases of visual ailments. In line with this, governments in many countries are initiating programs in partnership with different organizations to provide affordable eye care facilities, particularly to the rural population, which is aiding in augmenting the sales of eyewear products across the globe.
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Global Eyewear Market Trends:
Consumers nowadays are opting for trendy and designer sunglasses and spectacles to enhance their appearances as well as to protect their eyes from damage. Further, with rising preferences of the consumers towards luxury and premium products, the manufacturers are investing in the development and marketing of technologically advanced eyewear products. For instance, Nikon Lenswear has developed innovative lenses with improved optical designs, materials and enhanced coatings. Apart from this, many government and non-government institutions are conducting programs to create awareness among people regarding the availability of advanced treatments for eye diseases. These initiatives have facilitated the expansion of the global eyewear industry.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the market players being: Luxottica Group S.p.A.,Essilor International,Grand Vision,Formosa Optical,Carl Zeiss AG,Hoya Corporation,De Rigo S.p.A.,Indo Internacional,Safilo Group S.p.A.,Johnson and Johnson,CIBA Vision,CooperVision,GBV,Marchon,Fielmann AG,Bausch and Lomb,Charmant,TEK Optical Canada.
The report has segmented the market on the basis of Product, Gender, Distribution Channel, and Region.
Market Segmentation by Product:
3. Contact lenses
Market Segmentation by Gender:
Market Segmentation by Distribution Channel:
1. Optical Stores
2. Independent Brand Showrooms
3. Online Stores
4. Retail Stores
Market Segmentation by Region:
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.