Global Eyewear Market: Overview

The Global eyewear market is expected to register exponential growth over the forecast period owing to the growth in eye defect and increasing awareness regarding eye health. It is an essential accessory that aid in numerous visual defects such as myopia and hyperopia. Factors such as acute myopia at a younger age and acceptance as a trendy accessory are expected to drive the growth of the eyewear market. Another factor driving the market potential is the increasing use of computers and smartphones has resulted in rising cases of Computer vision syndrome (CVS) caused due to focusing the eyes on a display device for so long.

Moreover, a rise in the number of optical deficiencies and growth in the elderly population across the world is expected to augment the eyewear market growth. Also, the changing lifestyle and technological advancements have led to prolonged exposure to electronic devices that have caused strain on eyes. Thus, the need among individuals to protect their eyes is expected to drive the eyewear demand globally. Furthermore, the rise in disposable income has resulted in the augmented purchase of eyeglasses and the mounting likings of luxury and branded sunglasses are contributing significantly to the eyewear demand over the forecast period. Additionally, manufacturers have introduced innovative eyewear products to gain the momentum of the emerging market.

Global Eyewear Market- Product Analysis

Based on the product, the global eyewear market is categorized into Spectacles, Contact Lenses and Sunglasses. The sunglasses segment to witness the fastest growth during the forecast period due to the increasing awareness of eye protection from harmful UVB and UVV rays has influenced the demand for sunglasses. Moreover, the increased level of competition in the sunglasses market has resulted in reduced prices and product innovation. Also, the key players are focusing on offering their products through various e-commerce website and applications such as KREWE and Lenskart, to improve their branding and online presence across the global market. Furthermore, the introduction of contact lenses has served an easy way for the consumer to shun eyeglasses, without going through laser treatment, that in turn propelling the growth of the global eyewear market during the forthcoming period.

Global Eyewear Market- Distribution Channel Analysis

The global eyewear market based on the distribution channel is categorized into Online Stores, Retail Stores, and Specialty Stores. The specialty stores segment dominates the global eyewear market and is expected to continue its dominance over the coming years. The manufacturers have also adopted vertical integration and an effective distribution network to drive profitability. The specialty stores are still the most preferred channels for consumers to purchase eyeglasses owing to the offered range of services including eye examinations and consultations from practiced optometrists. However, a shift in consumer preference toward online purchasing and booming e-commerce will enhance product sales and factors such as shopping experience, convenient home delivery, and competitive pricing are the major factors driving product sale through online store distribution channel.

Global Eyewear Market- Regional Analysis

The Europe region is expected to be the largest regional market, primarily due to high average selling prices for the eyewear products and a strong inclination toward the premium category. Premium consumers are increasingly opting for scratch-resistant, anti-reflective, and UV protected eyewear products, which is further fueling the demand in a particular region. Moreover, the presence of major eyewear vendors such as Safilo and Luxottica has led the European region to dominate in the global eyewear industry. However, the Asia Pacific region is expected to emerge as the fastest-growing region. Factors such as the dense population, changing lifestyle, and increasing purchasing power are estimated to be the key drivers contributing to the regional growth. Thus, the robust eyewear demand is expected to result in an increased growth rate despite lower selling prices over the forecast period.

Global Eyewear Market Competitive Landscape

Key players in the global eyewear market include CooperVision, Luxottica Group S.p.A, Bausch + Lomb Inc., CooperVision, Fielmann AG, and Safilo Group S.p.A. and others. Acquisitions, mergers, and new product developments are key strategies used by key participants to improve their competitiveness and to cater customer bases in the global market. For instance, in January 2017, Essilor International SA and Luxottica Group S.p.A entered into merger agreement, in order to improve its position in the global eyewear market.

Objective of the Study:

· To analyze and forecast market size of the global eyewear market, in terms of value and volume.

· To examine the careful market segmentation and forecast the market size, in terms of value, on the premise of the region by segmenting global eyewear market into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America and their leading countries.

· To outline, categorized and forecast the global eyewear market on the basis of product type, material and end-user, and distribution channel.

· To examine competitive developments like expansions, technological advancement, services, and regulative framework within the global eyewear market.

· To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

· To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Key Target Audience:

· Market research and consulting firms

· Industry associations

· Raw material suppliers

· Global eyewear manufacturers

· Research organizations and consulting companies

· Organizations, associations, and alliances related to global eyewear

Scope of the Report

By Product Type

ü Contact Lenses

· Soft

· Rigid

ü Spectacles

· Spectacle Lenses

· Spectacle Frames

ü Sunglasses

· Polarized

· Non-Polarized

By Material

· Plastic

· Glass

· Metal

By End-User

· Male

· Female

By Distribution Channel

· Online Stores

· Specialty Stores

· Retail Stores

In addition, the report provides analysis of the eyewear market with respect to the following geographic segments and their high performing regions:

· North America

· Europe

· Asia Pacific (APAC)

· LATAM

· MEA

Business Questions answer by the report

· How will the market drivers, restraints and opportunities affect the market dynamics?

· What will be the market size in terms of value and volume and market statistics with detailed classification

· Which segment dominates the market or region and one will be the fastest growing and why?

· A comprehensive survey of the competitive landscape and the market participant players

· Analysis of strategy adopted by the key player and their impact on other players.

Customization Scope for the Client

Client satisfaction is our first and last priority. And that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:

Additional Company Information

· With five additional company detail analysis.

· Additional country analysis.

Detailed segment analysis.

















