Introduction of the Eyewear Market Report

Eyewear comprises accessories worn over the eyes to protect the eyes from excessive light or harmful radiation and vision correction. Eyewear has become a new fashion for millennials across the world. Due to increased disposable income, the lifestyle of the population has changed, which has surged eyewear adoption as a fashion accessory.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing eye-defects and visual deficiency across the globe have resulted in rising demand for eyewear spectacles. According to WHO, in 2019, more than 2.2 billion people in the world had blindness or vision impairment. As per the eyewear industry statistics, the growing burden of vision impairment and eye conditions in low and middle-income regions, specifically in South Asia and sub-Saharan Africa, the demand for spectacles has increased to correct the vision impaired population. Furthermore, brand consciousness amongst the consumers and growing demand for luxury eyewear are also responsible for the global eyewear market’s growth. Additionally, the growing status of fast fashion among millennials pushes manufacturers to manufacture and design attractive and affordable eyewear. Moreover, people are now opting for trendy and designer sunglasses, which will further contribute to the growth of the eyewear market share in terms of revenue.

In addition, strategic directions incorporated by the players has significantly uplifted the growth of the global eyewear market. For example, companies in India, such as Coolwinks and Vision Express, have started offering an eye-check-up for the patients at home. The company offers the users to choose their frames and try them on real-time with the e-commerce platform “Lenskart”, which is surging the demand of the eyewear market size.

Restraint in the Eyewear Market

However, a dip in the adoption rate due to the higher cost of the lenses and maintenance associated with the product are the factors that are likely to hamper the growth of the global eyewear market.

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Product Type – Segment Analysis

Based on the product type, spectacles is expected to dominate in the global eyewear market over the forecast period. The consumer’s consciousness regarding style & image and eyewear is gradually being shifted towards fashion accessory, which is fuelling the growth of the spectacles in the global eyewear market. The high prevalence of computer vision syndrome due to mobile, laptops, and other blue screens is another factor driving the demand for spectacles.

Distribution Channel – Segment Analysis

Based on the distribution channel, online segment is expected to hold a major share of the global eyewear market. Online advertising and e-retailing is gaining huge popularity across the globe as key players in the market like Ace and Tate, Hubble are promoting online promotion and gaining customers from the same. The rising popularity of online sales has resulted in a notable rise in the number of online eyewear start-ups across the nations, such as, Hubble, Eyewa and Ace & Tate, thus contributing to the growth of online distribution channels in the global eyewear market.

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Regional – Segment Analysis:

Based on the region, Europe is expected to hold a significant share of the region in the global eyewear market over the forecast period. According to “Fashion Revolution Foundation”, in April 2019, more than 1700 fashion events took place in the region with more than 80,000 participants, which projects the hyperactivity of the population for fashion, portraying the fashion industry’s expansion to the growing European of the eyewear market. In European countries such as Germany, Italy, France, and United Kingdom, sunglasses products and eyewear come under personal protective equipment, making it mandatory for the suppliers to adhere to the directives. Moreover, due to the strong presence of fashion brands in the region, for example, Gucci S.p.A., Prada S.p.A., and TOM FORD, is another factor for the growth of the region in the global eyewear market.

Top Market Players

Various notable players operating in the market include Alcon, Coolwinks, Vision Express, EssilorLuxottica, CooperVision, Bausch Health Companies Inc., ZEISS International, Fielmann, Safilo Group S.p.A., and Johnson & Johnson Vision, among others. 

Key Developments:

• • In 2019, CooperVisoon paragon got FDA approval, for contact lens manufacturing in U.S., this approval helped in expanding the production of the company.
  • In 2019, CooperVision, entered into a partnership with TerraCycle to increase its sustainable efforts. This partnership will help both the companies in improving the platform of the product, which will improve the customers’ experience.

Segments covered in the Report:

The global Eyewear market has been segmented based on product type, end user, distribution channel, and regions. Based on product type, the market is segmented into contact lenses, spectacles, and sunglasses. Based on end user, the market is segmented into men, women and unisex. Based on Distribution Channel, the market is segmented into Offline and online. 

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Key questions answered in this research report:

• • At what pace is global eyewear market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in eyewear market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global eyewear market?
  • Which product type generated maximum revenues in 2019 and identify the most promising product type during the forecast period?
  • What are the various end user areas of global eyewear market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Product Type, By End User, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Alcon, Coolwinks, Vision Express, EssilorLuxottica, CooperVision, Bausch Health Companies Inc., ZEISS International, Fielmann, Safilo Group S.p.A., Johnson & Johnson Vision, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Eyewear Market Segmentation

Global Eyewear Market by Product Type

• • Contact Lenses
  • Spectacles
  • Sunglasses

Global Eyewear Market by End User

• • Men
  • Women
  • Unisex

Global Eyewear Market by Distribution Channel

• • Offline
  • Online

Global Eyewear Market by Region

• • North America Eyewear Market (Option 1: As a part of the free 25% customization)
    • North America Market by Product Type
    • North America Market by End User
    • North America Market by Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Eyewear Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Product Type
    • Europe Market by End User
    • Europe Market by Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Eyewear Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Product Type
    • Asia-Pacific Market by End User
    • Asia-Pacific Market by Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Eyewear Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Product Type
    • RoW Market by End User
    • RoW Market by Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Eyewear (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Alcon
  • Coolwinks
  • Vision Express
  • EssilorLuxottica
  • CooperVision
  • Bausch Health Companies Inc
  • ZEISS International
  • Fielmann
  • Safilo Group S.p.A.
  • Johnson & Johnson Vision