- The global eyewear market is projected to expand at a CAGR of 6.0% during 2022-2031
- Surge in the cases of eye-related disorders among people worldwide is fueling demand opportunities in the global eyewear market
- Improving spending power of populace in developed and developing nations drives the sales of eyewear
WILMINGTON, Del., Nov. 1, 2022 /PRNewswire/ -- The global eyewear market is estimated to gain a value of US$ 300.9 Mn by the end of 2031, states a study by Transparency Market Research (TMR). In addition, the study finds that the market for eyewear is expected to grow at a CAGR of 6.0% during the forecast period, from 2022 to 2031.
As per TMR's study on the trends in the eyewear market, players are anticipated to gain sizable business opportunities in the spectacles segment during the forecast period. The growth of the segment is ascribed to factors such as increase in the demand for blue light-blocking glasses and rise in the cases of eye diseases among people from all age groups globally. Moreover, the segment also expected to expand at significant pace owing to rise in the need for eye protection glasses as the screen time of population in developed and developing nations is being increasing.
The demand for sunglasses and contact lenses is being rising in the recent years as the trend of using them as fashion accessories is increasing. This factor, in turn, is prognosticated to lead to the expansion of the contact lenses and sunglasses segment during the forecast period, state analysts of a TMR review.
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Eyewear Market: Key Findings
- The prevalence of different types of eye diseases such as hypermetropia or far-sightedness and myopia is being increasing among people from all age groups globally. As per the statistics by the Centers for Disease Control and Prevention (CDC), about 6.8% of US kids with age less than 18 are being diagnosed with vision or eye health condition. Approximately 3% of kids with less than 18 are visually impaired or blind, according to a TMR study on the eyewear market. These children with eye health issues are not able to see even after using contact lenses or glasses. Moreover, about 20.5 million people with 40 years or above age in the U.S. live with cataracts in both or one eyes. Hence, rise in the cases of eye disorders globally is estimated to drive the eyewear market expansion during the forecast period.
- The trend of using contact lenses and sunglasses is being increasing in the recent as fashion accessories. Due to improving spending power and rising focus on visual appearance, people are inclining toward the use of trending eyewear. Besides, the adoption of sunglasses is being rising in order to provide protection to eyes from UV rays as well as a fashion statement, note researchers of a TMR eyewear market.
- Contact lenses are available in different colors including aqua blue, hazel, grey, green, and brown. Professional athletes are increasing the demand for custom-tinted contact lenses in order to boost their visual performance. Such factors are creating lucrative prospects for key vendors in eyewear market, note analysts of a TMR study that delivers important insights on the marketing strategy for eyewear.
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Eyewear Market: Growth Boosters
- Increase in the prevalence of various eye diseases among people globally is expected to boost the market demand for eyewear
- Surge in the use of eyewear as fashion accessories worldwide is projected to drive the future of eyewear market growth
Eyewear Market: Key Players
Some of the key players profiled in the report are:
- Bausch & Lomb Inc.
- Johnson & Johnson Vision Care, Inc.
- Fielmann AG
- Marchon Eyewear, Inc.
- Essilor International
- Luxottica Group S.p.A.
- Hoya Corporation
- Zeiss International
- De Rigo S.p.A.
- Safilo Group S.p.A.
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Eyewear Market Segmentation
- Product Type
- Spectacles
- Single Vision
- Multifocal
- Bifocal
- Progressive
- Reading Glasses
- Safety Glasses
- Others (Blue Light Glasses, etc.)
- Contact Lenses
- Soft Contact Lenses
- Rigid Contact Lenses
- Toric Contact Lenses
- Others
- Sunglasses
- Polarized Sunglasses
- Non-polarized Sunglasses
- By Lens Material
- Spectacles & Sunglasses
- Glass
- Organic Plastic
- Polycarbonate
- Others (Trivex, etc.)
- Contact Lenses
- Silicone Hydrogel
- Hydrogel
- Hybrid
- By Consumer Group
- Men
- Women
- Kids
- Unisex
- By Modality
- Prescription
- Non-prescription
- By Price Range
- Low
- Medium
- High
- By Distribution Channel
- Online
- Company-owned Website
- E-commerce Website
- Offline
- Hypermarkets/Supermarkets
- Specialty Stores
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Consumer Goods Research Reports
Contact Lenses Market- Contact Lenses Market is expected to reach value of US$ 14.5 Bn by the end of 2031
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Cosmetic Skin Care Market- Cosmetic Skin Care Market is expected to reach US$ 154.7 Bn by the end of 2031
Hair Care Products Market- Hair Care Products Market is expected to cross the value of US$ 72 Bn by the end of 2031
Sun Care Market- Sun Care Market is expected to reach US$ 3 Bn by the end of 2031
Hand Dryer Market- Hand Dryer Market is expected to reach US$ 1.5 Billion by the end of 2031
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market intelligence company provides syndicated research reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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