Renub

    Eyewear Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

    Excel: 8 Hours
    PDF: 24 Hours
    Apr 2023
    Pages: 115

    Eyewear Market Outlook

    Eyewear Market will reach US$ 223.22 Billion in 2030, according to Renub Research. Technology has increased screen time, causing eye strain, dry eyes, and related issues. Aging increases the risk of developing age-related eye problems like cataracts, glaucoma, and macular degeneration. Some eye problems are hereditary. Neglecting eye care and skipping regular eye exams can result in undetected eye problems that worsen over time.

    According to a report by the World Health Organization (WHO) in 2022, more than 2.2 Billion people worldwide have either near or distant vision impairments. Almost half of these cases, at least 1 billion, could have been prevented or not yet treated. Eyewear corrects vision problems such as near-sightedness, farsightedness, and astigmatism, enhancing the quality of life. Sunglasses and safety glasses protect against UV rays, glare, and debris during outdoor activities. Fashionable eyewear complements the style and suits different preferences. It reduces eye strain during extended computer use and reading. Vision correction is convenient with eyewear, allowing individuals to continue their daily activities without worrying about their vision.

    eyewear-market


    Eyewear Market shall grow at a CAGR of 7.40% from 2022 to 2030

    As the global workforce expands, many individuals embrace sports and fitness as recreational activities. This shift in lifestyle preferences has increased demand for sports accessories, including sports sunglasses, particularly among endurance sports enthusiasts. The World Health Organisation (WHO) estimates that roughly 94 million people have cataract-related vision problems, and eyewear is often necessary following cataract surgery. While many individuals experience vision improvement after surgery, some may still require eyeglasses. In addition, even before surgery, discomfort may be present, so eyewear is commonly used post-surgery. This trend shall contribute to eyewear market growth during the forecast period.

    Company’s primary focus is enhancing the consumer experience by introducing innovative products and new services in the eyewear market. For example, Essilor has launched the My Vision Check app, allowing consumers to conduct vision screenings at home and book an appointment for a comprehensive eye examination at their local practice as early as July 2021.

    Expanding distribution channels, including e-commerce websites and social media platforms, aid the eyewear market's growth. Eyewear companies are advertising heavily on popular social media platforms like Instagram, Twitter, and Facebook, allowing them to gather insights into consumer preferences and offer personalized products. Furthermore, these platforms enable companies to employ innovative marketing techniques such as influencer and affiliate marketing, driving profitability. Hence, the market value for the global eyewear market was US$ 126.09 Billion in 2022.


    Spectacles have dominated the Eyewear Market for a long time due to their cost-Effective Nature

    Product types in the eyewear market are Spectacles, Sunglasses, and Contact lenses. Spectacles are the most traditional and widely recognized form of vision correction, with a history dating back centuries. They are also cost-effective and easy to manufacture, making them more accessible to consumers. Additionally, they offer a more comprehensive range of lens options, including bifocals and progressive lenses that can be customized to meet individual needs. Lastly, they are relatively low maintenance and durable, making them a popular choice for everyday use. Despite the growing popularity of contact lenses and other alternatives, spectacles remain the most popular choice for vision correction, dominating the eyewear market.


    Growth of Online Shopping in the Eyewear market is due to the Convenience and Flexibility it provides to its Customers

    The eyewear market has two sales modes - Online and Offline. Offline stores have an advantage of offering a wider selection of products and options, making it easier for customers to find the ideal fit. In-store professionals can also guide customers through the process and provide assistance. Despite the eyewear market’s rise in online stores, physical stores still have a crucial role in the industry.

    Online eyewear sales have grown due to the availability of a wide range of products at competitive prices, virtual try-on tools, and the COVID-19 pandemic's shift towards contactless transactions. In addition, social media and online advertising have also allowed eyewear companies to reach a wider audience and grow online sales.

    The eyewear market has been transformed by allowing customers to buy products from home instead of visiting stores. This has revolutionized the shopping experience by offering a wide range of styles, brands, and prices, facilitating comparison and informed decisions. Online eyewear retailers often offer reasonable prices, deals, and an easy return policy, enhancing the shopping experience. As more customers prefer online shopping, the eyewear market is rapidly growing and expected to continue expanding.


    Women are dominant Eyewear users in the Global Eyewear Market

    Based on the End-Users in the global eyewear market, there are three divisions Men, Women, and Unisex. Women's interest in eyewear is due to its role as a fashion accessory that complements their look. They are also more probable to suffer from vision problems and seek preventive eye care, making them a significant market for prescription glasses and contact lenses. Additionally, women's higher participation in the workforce has increased their purchasing power, making them a substantial market for luxury eyewear brands. Finally, the emergence of trendy and stylish eyewear designed specifically for women and the use of social media and influencer marketing has further increased their interest in eyewear.

    The demand for versatile eyewear suitable for both men and women has increased, driven by advancements in technology that produce comfortable and lightweight options. The need for protection against blue light from digital devices has also contributed to the growth of unisex eyewear, which is available in a broader range through online shopping. Additionally, social media influencers promoting unisex eyewear have helped popularize this trend.


    Europe is considered a dominant Region in the Global Eyewear Market

    The regions where the global eyewear market is flourishing are North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific's growing population with a high prevalence of vision problems has increased demand for eyewear products, including prescription glasses and contact lenses. Rising disposable incomes have fuelled demand for luxury eyewear. Digital devices and long screen time have led to a higher prevalence of digital eye strain, increasing the need for protective eyewear. E-commerce and social media platforms have made it easier for eyewear companies to reach a wider audience and offer their products online, driving the eyewear market growth in the region.

    Europe's strong tradition of fashion and design contributes to the development of stylish and high-quality eyewear brands. Additionally, the presence of significant eyewear industry players like Luxottica, Essilor, and Safilo in the region fuels the growth of the eyewear market.

    The latest version of Innovative Eyewear, Inc.'s LucydLyte audio eyewear platform, known as the LucydLyte 2.0, was launched in February 2023 and is now accessible for purchase on Lucyd.co. The updated product line includes several improvements and can be customized for any optical prescription. The company plans to market the product through various retailers worldwide and is associated with well-known brands such as Lucyd, Nautica, and Eddie Bauer.


    Key Players Analysis

    Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision are significant companies competing in the eyewear market.

    • In January 2022: The newly launched Crizal Sapphire HR by EssilorLuxottica SA features an advanced anti-reflective coating incorporating Crizal High Resistance technology. As per the company, this technology offers significantly enhanced scratch resistance of up to 70% and up to a 20% improvement in thermal resistance.


    Renub Research report titled “Global Eyewear Market Global Forecast by Product Type (Spectacles, Sunglasses, and Contact lenses), Mode of Sales (Online, and Offline), End Users (Men, Women, and Unisex) Regions (North America, Europe, Asia-Pacific, and ROW), Company Analysis (Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision)" provides a detailed analysis of Global Eyewear Market.

    eyewear-market-share


    Product Type – Market breakup from 3 Viewpoints:

    1.    Spectacles
    2.    Sunglasses
    3.    Contact lenses


    Mode of Sales – Market breakup from 2 Viewpoints:

    1.    Online
    2.    Offline


    End-Users – Market breakup from 3 Viewpoints:

    1.    Men
    2.    Women
    3.    Unisex


    Regions – Market breakup from 3 Viewpoints:

    1.    North America
    2.    Europe
    3.    Asia-Pacific
    4.    Rest of world


    Company have been covered from 3 Viewpoints:

    1.    Overview
    2.    Recent Development
    3.    Revenue


    Company Analysis:

    1.    Burberry Group
    2.    Essilor Luxottica
    3.    Carl Zeiss Group
    4.    Hoya Corporation
    5.    Prada
    6.    Tesco
    7.    Louis Vuitton
    8.    Cooper Vision


    Report Details:

    Report Features Details
    Base Year 2022
    Historical Period 2018 - 2022
    Forecast Period 2023 - 2030
    Market US$ Billion
    Segment Covered Product Type, Mode of Sales, End Users, and Region
    Region Covered North America, Europe, Asia-Pacific, and Rest of World
    Companies Covered Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision
    Customization Scope 20% Free Customization
    Post-Sale Analyst Support 1 Year (52 Weeks)
    Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on request)

    1.    Introduction

    2.    Research & Methodology

    3.    Executive Summary

    4.    Market Dynamics

    4.1    Growth Drivers
    4.2    Challenges


    5.    Porter’s Five Forces

    5.1    Bargaining Power of Buyers
    5.2    Bargaining Power of Suppliers
    5.3    Degree of Competition
    5.4    Threat of New Entrants
    5.5    Threat of Substitutes


    6.    Global Eyewear Market

    7.    Global Eyewear Volume

    8.    Market Share – Global Eyewear Market

    8.1    By Product Type
    8.2    By Mode Of Sales
    8.3    By End Users
    8.4    By region


    9.    Product – Global Eyewear Market and Volume

    9.1    Spectacle
    9.2    Sunglasses
    9.3    Contact Lenses


    10.    Channel – Global Eyewear Market

    10.1    Online
    10.2    Offline


    11.    End Users – Global Eyewear Market

    11.1    Men
    11.2    Women
    11.3    Unisex


    12.    Regions – Global Eyewear Market

    12.1    North America
    12.2    Europe
    12.3    Asia-Pacific
    12.4    Rest of World


    13.    Company Analysis

    13.1      Burberry Group

    13.1.1    Overview
    13.1.2    Recent Development
    13.1.3    Revenue

    13.2    Essilor Luxottica

    13.2.1    Overview
    13.2.2    Recent Development
    13.2.3    Revenue

    13.3    Carl Zeiss Group's

    13.3.1    Overview
    13.3.2    Recent Development
    13.3.3    Revenue

    13.4    Hoya Corporation

    13.4.1    Overview
    13.4.2    Recent Development
    13.4.3    Revenue

    13.5    Prada

    13.5.1    Overview
    13.5.2    Recent Development
    13.5.3    Revenue

    13.6    Tesco

    13.6.1    Overview
    13.6.2    Recent Development
    13.6.3    Revenue

    13.7    Louis Vuitton

    13.7.1    Overview
    13.7.2    Recent Development
    13.7.3    Revenue

    13.8     Cooper Vision

    13.8.1    Overview
    13.8.2    Recent Development
    13.8.3    Revenue


    List of Figures:

    Figure-01:    Global – Eyewear Market (Billion US$), 2018 – 2022
    Figure-02:    Global – Forecast for Eyewear Market (Billion US$), 2023 – 2030
    Figure-03:    Global – Eyewear Volume (Million Pieces), 2018 – 2022
    Figure-04:    Global – Forecast for Eyewear Volume (Million Pieces), 2023 – 2030
    Figure-05:    Product – Spectacle Market (Billion US$), 2018 – 2022
    Figure-06:    Product – Forecast for Spectacle Market (Billion US$), 2023 – 2030
    Figure-07:    Product – Sunglasses Market (Billion US$), 2018 – 2022
    Figure-08:    Product – Forecast for Sunglasses Market (Billion US$), 2023 – 2030
    Figure-09:    Product – Contact Lenses Market (Billion US$), 2018 – 2022
    Figure-10:    Product – Forecast for Contact Lenses Market (Billion US$), 2023 – 2030
    Figure-11:    Mode of Sales – Online Market (Billion US$), 2018 – 2022
    Figure-12:    Mode of Sales – Forecast for Online Market (Billion US$), 2023 – 2030
    Figure-13:    Mode of Sales – Offline Market (Billion US$), 2018 – 2022
    Figure-14:    Mode of Sales – Forecast for Offline Market (Billion US$), 2023 – 2030
    Figure-15:    End Users – Men Market (Billion US$), 2018 – 2022
    Figure-16:    End Users – Forecast for Men Market (Billion US$), 2023 – 2030
    Figure-17:    End Users – Women Market (Billion US$), 2018 – 2022
    Figure-18:    End Users – Forecast for Women Market (Billion US$), 2023 – 2030
    Figure-19:    End Users – Unisex Market (Billion US$), 2018 – 2022
    Figure-20:    End Users – Forecast for Unisex Market (Billion US$), 2023 – 2030
    Figure-21:    North America – Eyewear Market (Billion US$), 2018 – 2022
    Figure-22:    North America – Forecast for Eyewear Market (Billion US$), 2023 – 2030
    Figure-23:    Europe – Eyewear Market (Billion US$), 2018 – 2022
    Figure-24:    Europe – Forecast for Eyewear Market (Billion US$), 2023 – 2030
    Figure-25:    Asia-Pacific – Eyewear Market (Billion US$), 2018 – 2022
    Figure-26:    Asia-Pacific – Forecast for Eyewear Market (Billion US$), 2023 – 2030
    Figure-27:    Rest of World – Eyewear Market (Billion US$), 2018 – 2022
    Figure-28:    Rest of World – Forecast for Eyewear Market (Billion US$), 2023 – 2030
    Figure-29:    Burberry Group – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-30:    Burberry Group – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-31:    Essilor Luxottica – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-32:    Essilor Luxottica – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-33:    Carl Zeiss Group's – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-34:    Carl Zeiss Group's – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-35:    Hoya Corporation – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-36:    Hoya Corporation – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-37:    Prada – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-38:    Prada – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-39:    Tesco – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-40:    Tesco – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-41:    Louis Vuitton – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-42:    Louis Vuitton – Forecast for Global Revenue Market (Billion US$), 2023 – 2030
    Figure-43:    Cooper Vision – Global Revenue Market (Billion US$), 2018 – 2022
    Figure-44:    Cooper Vision – Forecast for Global Revenue Market (Billion US$), 2023 – 2030


    List of Tables:

    Table-01:    Global – Eyewear Market Share by Product (Percent), 2018 – 2022
    Table-02:    Global – Forecast for Eyewear Market Share by Product (Percent), 2023 – 2030
    Table-03:    Global – Eyewear Market Share by Mode of Sales (Percent), 2018 – 2022
    Table-04:    Global – Forecast for Eyewear Market Share by Mode of Sales (Percent), 2023 – 2030
    Table-05:    Global – Eyewear Market Share by End Users (Percent), 2018 – 2022
    Table-06:    Global – Forecast for Eyewear Market Share by End Users (Percent), 2023 – 2030
    Table-07:    Global – Eyewear Market Share by Region (Percent), 2018 – 2022
    Table-08:    Global – Forecast for Eyewear Market Share by Region (Percent), 2023 – 2030

    • Description
      Price
    • Chapter 1 & 4     Pages : 4
      $200
    • Chapter 5     Pages : 5
      $200
    • Chapter 6     Pages : 3
      $200
    • Chapter 7     Pages : 3
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    • Chapter 6     Pages : 6
      $300
    • Chapter 10     Pages : 4
      $300
    • Chapter 11     Pages : 6
      $300
    • Chapter 12     Pages : 8
      $300
    • Chapter 13.1     Pages : 5
      $150
    • Chapter 13.2     Pages : 5
      $150
    • Chapter 13.4     Pages : 5
      $150
    • Chapter 13.5     Pages : 5
      $150
    • Chapter 13.6     Pages : 5
      $150
    • Chapter 13.7     Pages : 5
      $150
    • Chapter 13.8     Pages : 5
      $150

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