Global Eyewear Market is expected to reach ~USD 200 Bn by 2028F: Ken Research
Global Eyewear Market By Geography
The Global Eyewear market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. Europe accounted for the largest market share in 2022 within the total Global Eyewear Market.
Europe has the largest eyeglass market, making up the bulk of the global market. This can be attributed to the region’s growing taste for high-end eyewear products as well as the manufacturers’ increasing attention to the creation of novel eyewear product styles, shapes, and sizes.
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Competition Scenario In Global Eyewear Market
The Global Eyewear Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.
Large global players hold the highest market share of 40% which is followed by the regional players holding a 35% share. Some of the major players in the market include Johnson & Johnson Vision Care, Inc., Essilor Luxottica, Bausch & Lomb Inc., Cooper Vision, Carl Zeiss AG., CIBA VISION, Safilo Group S.p.A., De Rigo Vision S.p.A, Fielmann AG, Marcolin SpA., HOYA Corporation, and others.
What Is The Expected Future Outlook For The Overall Global Eyewear Market Across The Globe?
The Global Eyewear market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Eyewear market is driven by rise in R&D activity in herbal ingredients. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Eyewear market is changing rapidly. For instance, In July 2021, Essilor introduced a new at-home screening software to encourage the general population to schedule an eye exam with their nearby independent practice. The My Vision Check app enables users to perform a quick eye exam at home before directing them to their local practice for a comprehensive eye exam.
In July 2021, Warbly Parker updated its online prescription renewal service. It has released an app, Virtual Vision Exam, which provides an at-home vision test that offers a refreshed prescription so that users can buy eyeglasses or contact lenses.
In August 2021, as part of its well-known JINS&SUN brand, JINS Eyewear introduced a fresh range of biodegradable sunglasses. The newest collection of sunglasses from JINS&SUN debuted in the USA and featured sophisticated frame designs made of biodegradable, bioplastic materials.
The Global Eyewear Market is forecasted to continue a gradual growth that is witnessed during the forecast period. Key trends driving market expansion include the increasing adoption of luxurious accessories among millennials, the surge in visual impairment among children, and an increasing geriatric population. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.
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Key Topics Covered in the Report
- Snapshot of the Global Eyewear Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Eyewear Market
- Historic Growth of the Overall Global Eyewear Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Eyewear Market
- Overview, Product Offerings, and SWOT Analysis of Key Competitors
- COVID-19 Impact on the Overall Global Eyewear Market
- Future Market Forecast and Growth Rates of the Total Global Eyewear Market and by Segments
- Market Size of Product/ End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Eyewear Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report
- Johnson & Johnson Vision Care, Inc.
- EssilorLuxottica
- Bausch & Lomb Inc.
- CooperVision
- Carl Zeiss AG.
- CIBA VISION
- Safilo Group S.p.A.
- De Rigo Vision S.p.A
- Fielmann AG
- Marcolin SpA.
- HOYA Corporation.
Notable Emerging Companies Mentioned in the Report
- Allure Eyewear L.L.C.
- Eyeking, LLC
- Optical Express Ltd.
- Norville Optical
- Pearle Vision
- Mister Spex
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Spectacles Manufacturers
- Lenses Manufacturers
- Sunglasses Manufacturers
- Spectacles Frame Manufacturers
- Spectacles Frame Designers
- Sunglasses Frame Designers
- Health and Medical Authorities
- Environmental Protection Authorities
- Investors interested in Healthcare Industry
- Eyewear Exporters
- Optical Engineering Companies
- Lens Designer Companies
- Eyewear Brands Distributors
- Eyecare Research Institutes
- Government Ministries and Departments of Healthcare
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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