Eyewear Market Outlook: Navigating Growth with an 8.60% CAGR from 2022 to 2030
Research Reports
Feb 13, 2024
Eyewear Market Insights
Eyewear Market Size was valued at USD 168.4 million in 2021. The eyewear market industry is projected to grow from USD 182.8 Million in 2022 to USD 325.82 million by 2030, exhibiting a compound annual growth rate (CAGR) of 8.60% during the forecast period (2022 – 2030). The Global Eyewear Market refers to the worldwide industry that produces and sells various types of eyewear products, including prescription glasses, sunglasses, contact lenses, and other accessories such as frames and lenses. The global eyewear market is driven by factors such as increasing eye problems and vision impairments, rising demand for luxury eyewear, growing awareness about eye protection, and advancements in technology that have led to the development of innovative products. The market is highly competitive, with numerous players ranging from large multinational corporations to small local manufacturers and retailers
The COVID-19 pandemic had a significant impact on the global eyewear market. The industry faced disruptions in manufacturing, supply chain, and retail channels, leading to a decline in sales and revenue.
During the pandemic, many eyewear stores were closed or operated at reduced capacity, and consumers were hesitant to go out and purchase non-essential items such as eyewear. Additionally, many people were working from home and did not require eyewear for work or commuting, further reducing demand.
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Regional Analysis
The largest region of the Global Eyewear Market is Asia-Pacific, which includes countries such as China, India, Japan, and South Korea. The APAC region accounts for a significant share of the global market due to its large population, increasing urbanization, rising disposable incomes, and growing awareness of eye health and fashion trends.
APAC region has witnessed significant growth in the eyewear market, driven by factors such as the increasing prevalence of vision problems, a growing aging population, and the adoption of western fashion trends.
Eyewear Market Segmentation
Eyewear Product Type
- Spectacles
- Sunglasses
- Contact Lenses
- Others
Eyewear Distribution Channel
- Store-Based
- Non-Store-Based
- Other
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Key Players
- Fielmann AG (Germany)
- The Cooper Companies Inc. (US)
- Bausch Health Companies Inc. (Canada)
- Luxottica Group S.p.A. (Italy)
- Carl Zeiss AG (Germany)
- Safilo Group S.p.A. (Italy)
- GrandVision (Netherlands)
- Alcon Vision LLC (US)
- Johnson & Johnson Vision Care Inc. (US)
- Marcolin SpA (Italy)
- Marchon Eyewear Inc. (US)
- De Rigo Vision S.p.A. (Italy)
- Essilor International (France)
- Rodenstock GmbH (Germany)
- Charmant Inc. (US)
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