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

The global eyewear market is forecast to witness a remarkable growth over the forecast period, owing to the increasing incidences of ocular diseases and rising cases of partial vision impairment among adults. Changing lifestyle of consumers and growing demand for luxurious accessories among young generation will strengthen the market growth. Leading players in the eyewear market are emphasizing on developing cost-effective and attractive eyewear to attract the fashion enthusiasts. For example, in 2021, Essilor introduced the My Vision Check app to allow users conduct screening at home before booking an appointment for a complete eye examination with their local practice. Moreover, strategic initiatives by government organizations to spread awareness about the preventive measures and treatments available for these eyesight problems will increase the adoption of eyewear products, driving the eyewear market size. In addition, the rising cases of dry eyes, computer vision syndrome (CVS), eye irritation, and double vision, especially among working professionals, owing to the strain caused on the eyes due to prolonged working hours have increased the demand for advanced glare-free prescription eyewear with enhanced durability, which strengthens the eyewear market share.

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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 2021, Meta and Ray-Ban introduced Stories, smart glasses equipped with dual 5-megapixel cameras to capture images and 30-second long videos.
  • In 2021 – JINS eyewear launched the JINS&SUN sunglasses brand in the U.S with 29 different shapes and 84 styles.
  • 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)
    • By Product Type
    • By End User
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Eyewear Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By End User
    • 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)
    • By Product Type
    • By End User
    • 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)
    • By Product Type
    • By End User
    • 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