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Eyewear Market

Global Eyewear Market Size, Share, Trends, Growth, Report: By Product: Spectacles, Sunglasses, Contact Lenses; By Gender: Men, Women, Unisex; By Distribution Channel: Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

Global Eyewear Market Outlook

The global eyewear market size reached approximately USD 136.66 billion in 2023. The market is projected to grow at a CAGR of 3.10% between 2024 and 2032, reaching a value of around USD 180.15 billion by 2032.

 

Key Takeaways

Topic Information
Smart Eyewear Represents a growing segment, incorporating features like augmented reality, health tracking, and connectivity with other devices.
Health and Wellness Consumers are seeking eyewear that can offer improved protection against UV and blue light.
Online Eyewear Shopping Virtual try-on technology, online eye tests, and the convenience of home delivery are making online eyewear shopping increasingly popular.

 

The common forms of eyewear include glasses (also called eyeglasses or contacts), sunglasses, contact lenses and utilitarian forms of eye protection, such as spectacles and goggles. Eyewear items are usually used to correct vision and shield the eyes from unnecessary glare, debris, or harmful radiation. The frames and lenses of these objects are mainly made of plastic and glass.

 

The increase in the number of visual deficiencies as well as the increasing awareness of eye exams are expected to stimulate the eyewear market growth. The increase in the number of ophthalmic disorders such as myopia, presbyopia, and hypermetropia among the ageing population is also a significant contributor to the market. A significant percentage of the population in developing countries, such as India, Brazil, and Mexico, suffer from visual disabilities that are usually undetected and not corrected. As a result, government and private organisations in these economies are undertaking eye-care awareness campaigns which is expected to boost the eyewear market sales.

 

Eyewear Market

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Key Trends and Developments

Rising popularity of fashion-forward eyewear; burgeoning demand for transition and adaptive lenses; increase in the number of eye health awareness programmes; and use of advanced technologies like AR and VR to improve customer shopping experience are the major trends impacting the eyewear market

 

Date Companies Event
Jan 17th, 2024 Pair Eyewear and National Vision A collaborative venture to expand reach, improve customer shopping experience, and establish Pair as a household name.
Jan 30th, 2024 Walmart Broadens its digital offerings by introducing a virtual try-on feature specifically for eyewear.
Jan 30th, 2024 National Vision, Inc. and Vontélle Eyewear Partners to launch a unique collection that complements diverse faces, celebrating inclusivity and diversity.
Jan 31st, 2024 Swiss Eyewear Group (SEG) and Eastman Chemical Company (EMN) Join hands to introduce SEG’s 10th anniversary eyewear collection INVU, utilising Eastman's Tritan Renew in each frame of this groundbreaking series.

 

 

Trends Impact
Rising popularity of fashion-forward and designer eyewear High-end fashion brands entering the market, collaborations between eyewear brands and fashion designers, celebrities, or influencers
Burgeoning demand for transition and adaptive lenses Photochromic lenses that adapt to different lighting conditions, offering improved versatility
Increase in eye health awareness programmes globally Organisations and health services promoting awareness about eye health and the importance of regular eye check-ups, driving the demand for corrective eyewear
Leveraging advanced technologies to improve customer shopping experience Retailers using advanced technologies like AR and VR to offer features like virtual try-on and online eye tests

 

Eyewear Market Trends

One of the prominent trends in the eyewear market is the increasing popularity of photochromic lenses, which adapt to different lighting conditions by darkening in sunlight and becoming clear indoors. Photochromic lenses offer the convenience of not having to switch between regular glasses and sunglasses as they provide a seamless transition when moving between indoor and outdoor environments, making them highly versatile and suitable for various activities throughout the day. These lenses provide automatic protection from ultraviolet (UV) rays when exposed to sunlight. By darkening in response to UV light, they reduce the risk of eye damage and strain caused by exposure to harmful rays, contributing to long-term eye health.

 

Moreover, consumers are becoming environmentally conscious and are looking for products that have a lower environmental impact, driving eyewear manufacturers to use materials like wood, bamboo, and others.

 

Responding to the growing trend of online shopping, several retailers are focusing on expanding their online presence and improving digital capabilities by leveraging advanced technologies. In January 2024, Walmart expanded its digital services by implementing a virtual try-on option exclusively for eyewear. This feature enables customers to digitally explore and test a wide array of eyewear styles through an online interface. By leveraging this technology, customers can conveniently preview how different glasses look on them before making a purchase, simulating the experience of trying on glasses in a physical store and boosting the glasses market.

 

Eyewear Market by Product

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Market Segmentation

“Eyewear Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Product Spectacles, Sunglasses, Contact Lenses
Gender Men, Women, Unisex
Distribution Channel Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

Spectacles maintain its dominance in the eyewear market due to growing vision impairment issues globally

Based on product, spectacles represent the most popular eyewear globally. The primary function of spectacles is to correct various vision impairments, such as nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia and a considerable portion of the global population requires vision correction, which directly contributes to the high demand for spectacles. Beyond vision correction, spectacles are increasingly designed to protect the eyes from potential harm, such as UV rays, blue light from screens, and other environmental factors like dust and debris.

 

Contact lenses are also expected to occupy a significant eyewear market share as many people are gravitating towards contact lenses over spectacles for aesthetic reasons, as they do not alter one’s appearance. They also offer the freedom to participate in sports and outdoor activities without the inconvenience of wearing glasses. Contact lenses provide a wider field of view compared to spectacles and they move with the eye, allowing a natural field of vision with no frames to obstruct the view and reduce distortions and reflections that can occur with glasses.

 

Optical stores lead the eyewear market as they offer the provision of eye exams along with eyecare solutions

Optical stores provide professional eye care services, including eye exams conducted by optometrists or ophthalmologists. This one-stop-shop approach for both eye health check-ups and eyewear solutions is convenient for consumers and adds significant value. In optical stores, customers can receive personalised fitting services to ensure their eyewear fits comfortably and suits their visual needs. Staff can adjust frames for a custom fit, recommend lenses based on lifestyle and prescription, and provide immediate alterations or repairs. The increase in demand for premium and customised eyewear products is expected to drive the eyewear market growth over the forecast period.

 

Online stores are anticipated to experience considerable expansion for several reasons. Online stores offer the convenience of browsing and purchasing eyewear from anywhere, at any time and this ease of access appeals to consumers with busy lifestyles or those who prefer not to visit physical stores. Online stores generally offer products at competitive prices due to lower overhead costs compared to brick-and-mortar stores. Advancements in augmented reality (AR) and virtual reality (VR) technologies enable consumers to virtually try on glasses or contact lenses, helping them make informed decisions without physically trying the products. Additionally, they frequently provide promotions, discounts, and price comparison tools, attracting price-sensitive consumers which further boosts the appeal of the online eyewear market.

 

Eyewear Market by Region

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Competitive Landscape

The market players are increasing their marketing efforts to create brand awareness and are launching innovative eyewear series, combining current fashion trends and eco-friendly materials delivering improved performance

 

Company Services
Luxottica Group S.p.A. Leader in the design and distribution of fashion, luxury, and sports eyewear. Its portfolio includes several well-known brands like Ray-Ban, Oakley, and Persol.
Essilor of America, Inc. Subsidiary of Essilor International, produces a wide range of lenses to correct and protect eyesight.
Johnson & Johnson Vision Care, Inc. Specialises in the development, manufacturing, and marketing of eye health products. Best known for its ACUVUE® brand of contact lenses.
Safilo Group S.p.A Italian eyewear creator and worldwide distributor of quality eye care products. A leader in the premium category for sunglasses, optical frames, and sports eyewear.

 

Companies in the eyewear market are increasingly engaging in collaborations to drive innovation and meet the evolving needs of consumers. These partnerships are instrumental in combining diverse strengths and expertise, leading to the creation of advanced and unique eyewear products. Collaborations often bring together companies with different specialties, such as technology firms and traditional eyewear manufacturers, and this integration of expertise leads to the development of innovative products.

 

Eyewear Market Analysis by Region

The Europe eyewear market accounts for a considerable share of the total market value. Europe has a significant population with vision correction needs due to factors like an ageing demographic, increasing screen time, and a high incidence of conditions such as myopia and presbyopia. European countries also have robust healthcare systems that emphasise regular eye examinations and eye health awareness, which leads to early detection of vision issues and a higher likelihood of individuals adopting corrective eyewear. Europe is also home to many of the world’s leading fashion capitals, such as Paris, Milan, and London. The region's strong sense of fashion drives the demand for designer eyewear as a fashion statement, not just a vision correction tool.

 

The Asia Pacific is also a significant region in the eyewear market and is expected to increase its market share. The Asia Pacific is the most populous region in the world, encompassing a diverse range of countries with large populations, which further adds to the demand for eyewear products. The region has witnessed rapid economic growth, resulting in an expanding middle class with increased disposable income, and this economic prosperity allows for a greater spending on healthcare and lifestyle products, including eyewear. Some countries in the Asia Pacific, like Japan, have a significant ageing population, and older demographics typically have a higher need for vision correction and eye care, thereby contributing to the overall market revenue.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Gender
  • Distribution Channel
  • Region
Breakup by Product
  • Spectacles
  • Sunglasses
  • Contact Lenses
Breakup by Gender
  • Men
  • Women
  • Unisex
Breakup by Distribution Channel
  • Optical Stores
  • Independent Brand Showrooms
  • Online Stores
  • Retail Stores
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Luxottica Group S.p.A.
  • Essilor of America, Inc.
  • Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Medical GmbH)
  • Safilo Group S.p.A
  • Alcon Vision LLC
  • Prada S.p.A.
  • Oakley, Inc.
  • The Cooper Companies Inc.
  • Silhouette International Schmied AG
  • LVMH Group
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

Eyewear Market Report Snapshots

Eyewear Market Size

Eyewear Market Trends

Eyewear Companies

Eyewear Market Regional Analysis

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Eyewear Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Eyewear Historical Market (2018-2023) 
    8.3    Global Eyewear Market Forecast (2024-2032)
    8.4    Global Eyewear Market by Product
        8.4.1    Spectacles
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Sunglasses
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Contact Lenses
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Eyewear Market by Gender
        8.5.1    Men
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Women
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Unisex
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
    8.6    Global Eyewear Market by Distribution Channel
        8.6.1    Optical Stores
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Independent Brand Showrooms
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Online Stores
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Retail Stores
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)   
    8.7    Global Eyewear Market by Region
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
              8.7.4.1    Historical Trend (2018-2023) 
              8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032)
9    North America Eyewear Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Eyewear Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5   Others
11    Asia Pacific Eyewear Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Eyewear Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa  Eyewear Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Luxottica Group S.p.A.
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Essilor of America, Inc.
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Medical GmbH)
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Safilo Group S.p.A
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Alcon Vision LLC
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Prada S.p.A.
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Oakley, Inc.
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    The Cooper Companies Inc.
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Silhouette International Schmied AG
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    LVMH Group
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Eyewear Market: Key Industry Highlights, 2018 and 2032
2.    Global Eyewear Historical Market: Breakup by Product (USD Billion), 2018-2023
3.    Global Eyewear Market Forecast: Breakup by Product (USD Billion), 2024-2032
4.    Global Eyewear Historical Market: Breakup by Gender (USD Billion), 2018-2023
5.    Global Eyewear Market Forecast: Breakup by Gender (USD Billion), 2024-2032
6.    Global Eyewear Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
7.    Global Eyewear Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
8.    Global Eyewear Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Eyewear Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Eyewear Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Eyewear Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Eyewear Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Eyewear Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Eyewear Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Eyewear Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Eyewear Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Eyewear Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Eyewear Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Eyewear Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Eyewear Market Structure

Key Questions Answered in the Report

In 2023, the global eyewear market attained a value of nearly USD 136.66 billion.

The market is projected to grow at a CAGR of 3.10% between 2024 and 2032.

The market is estimated to grow in the forecast period of 2024-2032 to attain a value of more than USD 180.15 billion by 2032.

The major drivers of the market are rising disposable incomes, growing consumer focus on appearance and aesthetics, increasing public awareness regarding eyecare, rising demand from the developing regions, increasing prevalence of visual deficiencies and ophthalmic disorders, and growing technological advancements.

The key trends guiding the growth of the eyewear market include the availability of premium and customised eyewear products and the increasing purchases from online stores.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest market share.

Spectacles represent the leading product type in the market.

The significant segments based on gender include men, women, and unisex.

The major distribution channels of the product include optical stores, independent brand showrooms, online stores, and retail stores.

The major players in the market are Luxottica Group S.p.A., Essilor of America, Inc., Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Medical GmbH), Safilo Group S.p.A, Alcon Vision LLC, Prada S.p.A., Oakley, Inc., The Cooper Companies Inc., Silhouette International Schmied AG, and LVMH Group, among others.

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Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

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We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

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