Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
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.
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.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
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 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:
Based on distribution channel, the industry can be segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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.
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:
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.
|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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
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
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.5 Global Spectacles Market by Distribution Channel
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.6 Global Spectacles Market by Region
8.6.1 Market Share
184.108.40.206 North America
220.127.116.11 Asia Pacific
18.104.22.168 Latin America
22.214.171.124 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
126.96.36.199 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
188.8.131.52 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
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
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
10 Market Dynamics
10.1 SWOT Analysis
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
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.2 Johnson and Johnson
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
12.2.3 Novartis AG
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.4 Carl Zeiss AG
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
12.2.5 Zenni Optical, Inc.
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
12.2.6 Jand, Inc.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
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
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.
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.
Single User License
Five User License
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.
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.
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.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.