Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Global Eyewear Market by Lens Material (Glass, Plastic, Polycarbonate), Type (Contact Lenses, Protective Eyewear, Spectacles), Gender, Usage, Distribution Channel - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Eyewear Market grew from USD 185.67 billion in 2023 to USD 208.36 billion in 2024. It is expected to continue growing at a CAGR of 12.51%, reaching USD 423.81 billion by 2030.
The eyewear such as eyeglasses, sunglasses, and contact lenses are primarily chosen for providing reliable protection to eyes and lower risk of eye infection. The rise in the number of ophthalmic disorders is increasing the need for prescription-based eyeglasses. The introduction of low-cost and disposable lenses and the personalization of eyeglasses drive market growth. Various government & private organizations and NGOs are collaborating to offer affordable eyewear to mitigate vision disorders in rural areas of developing countries.
However, the growing acceptance of non-invasive and cost-effective refractive surgeries may limit the market growth. The increased sales of illegal novelty contact lenses & unbranded frames are curbing the market demand for eyewear. However, an increase in product sales through online channels and the influence of advanced technology in eyeglasses for multifunctionality are expected to create opportunities in the market to attract a customer base.
The increasing demand for fashionable, trendy, and stylish eyewear has played an essential role in driving market growth in the Americas region. The growing popularity of sunglasses for aesthetic looks and fashion purposes among the young population is enhancing the demand for eyewear products in the region. Manufacturers focus on research and development to provide technologically advanced and safe eyewear products in Europe.
Furthermore, customers from developed countries in the EMEA region are becoming more affluent and increasingly inclined to purchase higher-end, designer eyewear brands, helping the market grow. Increasing population and enhanced consumer awareness about eyecare in countries including China, Japan, and India are boosting the market demand for protective spectacles and sunglasses in the region. Market players in the APAC region focus on providing prescription lenses with advanced features such as anti-reflective coatings and tints that protect against harmful UV rays from the sun.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $208.36 Billion |
| Forecasted Market Value (USD) by 2030 | $423.81 Billion |
| Compound Annual Growth Rate | 12.5% |
| Regions Covered | Global |
Market Dynamics
Market Drivers
- Increasing demand for prescription-based eyeglasses owing to the rise in the number of ophthalmic disorders
- Development of low cost and disposable lenses coupled with personalization of eyewear products and services
Market Restraints
- Acceptance of Invasive and Cost-Effective Refractive Surgeries
Market Opportunities
- Increase in product sales through alternative distribution channels
- Influence of advanced technology in eyeglass for multifunctionality
Market Challenges
- Limited online purchasing of eyewear
- Increased sales of unbranded frames and illegal novelty contact lenses
Market Segmentation Analysis
- Lens Material: Utilization of plastic lens material owing to lightweight properties
- Type: Significant penetration of contact lenses globally
- Gender: Growing popularity of innovative designs in women's eyewear
- Usage: Increasing demand for adult eyewear products
- Distribution Channel: Emerging popularity of online eyewear stores
Industry Insights
- Market Disruption Analysis
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- Alcon Vision LLC
- All Logic International Co., Ltd.
- Bausch + Lomb Corporation
- Carl Zeiss AG
- Charmant Inc.
- De Rigo Vision S.p.A.
- Eschenbach Optik GmbH
- ESE International
- EssilorLuxottica SA
- Europa Eyewear
- Eyeking, LLC
- Fielmann AG
- Hoya Corporation
- Italia Independent S.p.A.
- JINS Eyewear US, Inc.
- Johnson & Johnson Services, Inc.
- Kering SA
- Lenskart
- Marchon Eyewear, Inc.
- Marcolin S.p.A.
- Mister Spex SE
- Modo Eyewear
- Multiopticas, S.C.L.
- Norville (20/20) Ltd.
- OGI Eyewear
- Safilo Group S.p.A.
- Silhouette International Schmied AG
- Thai Optical Group Pcl
- The Cooper Companies, Inc.
- The McGee Group
- Warby Parker Inc.
Market Segmentation & Coverage
Lens Material
- Glass
- Plastic
- Polycarbonate
Type
- Contact Lenses
- Protective Eyewear
- Spectacles
- Sunglasses
Gender
- Men
- Women
Usage
- Adult
- Kid
Distribution Channel
- Offline Stores
- Online Stores
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
For more information about this report visit https://www.researchandmarkets.com/r/9p0mgr
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