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Global Spectacles Market: By Parts: Lens, Frames; By Distribution Channel: Offline, Online; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand, EMR’s Key Indicators for Price; Competitive Landscape; Industry Events and Developments

Global Spectacles Market Outlook

The global spectacles market reached a value of about USD 68.1 billion in 2020. The market is further expected to grow at a CAGR of 7.2% in the forecast period of 2022-2027 to reach a value of approximately USD 103.2 billion by 2026.

 

Increasing Demand for Frames to Augment the Spectacles Industry Growth

In the forecast period, the frames segment is expected to grow at a significant rate. The segment's growth is expected to be aided by the regular replacement of spectacle frames and the availability of a wide range of options. Furthermore, the rising usage of fibre frames due to their endurance is expected to drive up demand. Additionally, the launch of attractive products, along with the rising consumer awareness about fashion, is expected to propel the spectacles industry forward.

 

Global Spectacles Market

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North America to Account for a Significant Market Share in the Spectacles Industry

North America is expected to witness a significant market share in the forecast period. Higher awareness of ocular illnesses, increased adoption of vision care products, and a desire for luxury eye care products are expected to drive the market expansion in the region. Furthermore, the affordability of premium frames is expected to boost the region's global market worth. Furthermore, the rising trend of wearing glasses and attractive frames is expected to drive the market revenue in the coming years.

 

Spectacles: Market Segmentation

Spectacles or eyeglasses are used by people with ocular abnormalities such as myopia, hypermetropia, and astigmatism to correct their vision. Individuals are increasingly wearing spectacles in the contemporary market due to increased knowledge of ocular illnesses and the rising prevalence of vision impairment. Furthermore, the development of high-end spectacles and eyeglasses has led to the acceptance of spectacles as a fashion statement in both developed and developing countries in recent years.

By parts, the market is divided into:

  • Lens
  • Frames

Based on distribution channel, the industry can be segmented into:

  • Offline
  • Online

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Prevalence of Ocular Disorders likely to Bolster the Growth of the Spectacles Industry

Devices or gadgets, such as computers, laptops, and mobile phones, have become increasingly important in recent years. As a result, the prevalence of eye problems linked to long-term use of the aforementioned technologies has increased. Individuals are preferring spectacles with a reflective coating as a result of increased awareness about the drawbacks of increased screen time. These reflecting coatings shield users' eyes from the blue light emitted by laptop, computer, and smartphone screens. According to a survey, East Asian countries have a much greater frequency of myopia. Thus, the expansion of the spectacles industry is expected to be aided by an increase in refractive errors among the global population. In addition, the prevalence of refractive ocular problems in the elderly population is increasing globally as life expectancy increases. Thus, the world's growing geriatric population is expected to drive the global market in the coming years.

The rising fashion consciousness among the millennials and the availability of a diverse range of stylish spectacles are the major trends in the spectacles industry. The market is predicted to rise as the demand for plastic frames grows owing to their increased durability and ease of repair.

 

Key Industry Players in the Global Spectacles Market

The report gives a detailed analysis of the following key players in the global spectacles market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • EssilorLuxottica SA
  • Johnson and Johnson
  • Novartis AG
  • Carl Zeiss AG
  • Zenni Optical, Inc
  • Jand, Inc.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Parts, Distribution Channel, Region
Breakup by Parts Lens, Frames
Breakup by Distribution Channel Offline, Online
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered EssilorLuxottica SA, Johnson and Johnson, Novartis AG, Carl Zeiss AG, Zenni Optical, Inc., Jand, Inc., 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.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Spectacles Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Spectacles Historical Market (2017-2021) 
    8.3    Global Spectacles Market Forecast (2022-2027)
    8.4    Global Spectacles Market by Parts
        8.4.1    Lens
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Frames
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Spectacles Market by Distribution Channel
        8.5.1    Offline
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Online
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
    8.6    Global Spectacles Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    EssilorLuxottica SA
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Johnson and Johnson
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Novartis AG
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Carl Zeiss AG
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Zenni Optical, Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Jand, Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Spectacles Market: Key Industry Highlights, 2016 and 2026
2.    Global Spectacles Historical Market: Breakup by Part (USD Billion), 2017-2021
3.    Global Spectacles Market Forecast: Breakup by Part (USD Billion), 2022-2027
4.    Global Spectacles Historical Market: Breakup by Distribution Channel (USD Billion), 2017-2021
5.    Global Spectacles Market Forecast: Breakup by Distribution Channel (USD Billion), 2022-2027
6.    Global Spectacles Historical Market: Breakup by Region (USD Billion), 2017-2021
7.    Global Spectacles Market Forecast: Breakup by Region (USD Billion), 2022-2027
8.    North America Spectacles Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    North America Spectacles Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Europe Spectacles Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Europe Spectacles Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Asia Pacific Spectacles Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Asia Pacific Spectacles Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Latin America Spectacles Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Latin America Spectacles Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Middle East and Africa Spectacles Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Middle East and Africa Spectacles Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Global Spectacles Market Structure

Key Questions Answered in the Report

In 2021, the global spectacles market attained a value of nearly USD 68.1 billion.

The market is projected to grow at a CAGR of 7.2% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 103.2 billion by 2027.

The major drivers of the industry, such as the increased demand for prescription spectacles, growing prevalence of age-related vision impairment, longer life spans, and the growing geriatric population, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the commoditisation of the eyewear sector, the influence of celebrities and media figures, and the desire for trendy spectacles.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different segments based on parts include lens and frames.

The major distribution channels of the product include offline and online channels.

The major players in the industry are Essilor Luxottica SA, Johnson and Johnson, Novartis AG, Carl Zeiss AG, Zenni Optical, Inc, and Jand, Inc., among others.

Analyst Review

The global spectacles market attained a value of USD 68.1 billion in 2021, driven by the increased demand for prescription spectacles as a result of an increase in the prevalence of age-related vision impairment and the growing geriatric population. Aided by the growing innovations and the increasing demand for trendy spectacles, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 7.2%. The market is projected to reach USD 103.2 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on parts, the market has been bifurcated into lens and frames. On the basis of distribution channel, the  industry is divided into offline and online channels. The major regional markets for spectacles are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Essilor Luxottica SA, Johnson and Johnson, Novartis AG, Carl Zeiss AG, Zenni Optical, Inc, and Jand, Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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