Eyewear Market Size By Product [Spectacles [By Product {Frame (By Material [Plastic, Metal]), Lenses (By Material [Polycarbonate, Plastic, Polyurethane, Trivex])}], Contact Lenses [By Product {RGP, Soft Contact, Hybrid Contact}, By Material {Silicone, PMMA, Polymer}], Plano Sunglasses [By Product {Polarized, Non-Polarized}, By Material {CR-39, Polycarbonate}]), By Distribution Channel [Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores] Regional Outlook, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jun 2019  |  Report ID: GMI119  |  Authors: Preeti Wadhwani

Report Format: PDF   |   Pages: 930   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Statistics - 2025

Global Eyewear Market size was valued at over USD 120 billion in 2018 and is anticipated to grow at a CAGR of 5% from 2019 to 2025. Spectacles segment generated the major share in 2018 and holding at over 55% of the global market.
 

Eyewear Market

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Upsurge in demand for prescription spectacles and contact lenses owing to age-related impairment such as presbyopia will drive global eyewear market. According to WHO, in 2018, around 1.3 billion people were suffering from some form of visual impairment worldwide, of which 188.5 million are prone to distance vision, 217 million have moderate to severe vision impairment, and 826 million people live with a near vision impairment. Increasing geriatric population as a result of better life expectancy at birth and advanced health care systems will provide a positive outlook for industry expansion.
 

Technological advancements have surged the exposure of younger generation to smartphones and computers leading to eyesight problems such as hyperopia, myopia, and astigmatism, thereby fuelling the demand for prescription glasses and contact lens. Manufacturers are expected to invest in new product development with reduced glare and improved UV protection. Increasing prevalence of Computer Vision Syndrome (CVS) or digital eye strain with continuously working on a computer system supporting eyewear demand.
 

Economic development supported by a rise in per capita income has surged consumer spending on fashion products. Geographic expansion of globally renowned sunglasses brands supported by favourable branding strategies is likely to fuel overall eyewear industry revenue. However, increasing adoption of eye corrective surgeries such as LASIK, RLE, PRK, LASEK, epi-LASIK, and PRELEX owing to development in medical technologies can hamper the product demand. Also, significant pricing difference between branded and unbranded eyewear in price sensitive countries has shifted the preference towards low-cost products, particularly among the middle-class population.

 

Eyewear Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 120 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 5% 2025 Value Projection: 170 Billion (USD)
Pages: 930 Tables, Charts & Figures: 1668
Geographies covered (32): U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Sweden, Switzerland, Norway, Belgium, Bulgaria, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Egypt, Tunisia
Segments covered: Product, Distribution Channel and Region
Companies covered (24): Carl Zeiss AG, Bausch + Lomb, Inc., Charmant Group, Chemilens, CIBA Vision, CooperVision, Daemyung Optical CO, De Rigo SpA, Johnson and Johnson, Marchon Eyewear, Marcolin Eyewear, Strategy Dashboard, Qspex Technologies, Luxottica Group, Hoya Corporation, Essilor International S.A, Fielmann AG, Rodenstock, Safilo Group, Seiko Optical Products, Shamir Optical Industry, Ltd, Shanghai Conant Optics, Silhouette International, Uvex Winter Holding, Vision-Ease Lens
Growth Drivers:
  • North America:
    • Rising prevalence of eyesight disorders along with increasing consumer spending
  • Europe:
    • Rising preference for luxury brands eyewear
  • Asia Pacific:
    • Rising eyewear production as well as consumption in several regional countries including China and India
  • Latin America:
    • Increasing popularity of contact lens in the region
  • MEA:
    • High preference for luxury eyewear brands
Pitfalls & Challenges:
  • Growing popularity of eye corrective surgeries
  • Price differentiation between branded and unbranded

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Eyewear Market, By Product

Spectacles dominated the global eyewear market share, accounting at over 55% of the global volume demand in 2018. Growing demand for spectacle frames owing to the introduction of innovative designs supported by growth in online distribution segment is propelling the industry share. The surge in real incomes will support demand for designer & branded frames over the forecast timeline. Further, transformation in the spectacle lenses technology including development of lenses with resistance to fog, smudge, scratch and UV rays will generate new growth opportunities.
 

Plano sunglasses is anticipated to witness significant gains at over 6.5% annually up to 2025. Factors such as rapid urbanization, economic growth, expansion in the distribution network, increasing influence social media, innovations in design and lens of sunglasses fostering segment growth. Strong investments in online marketing & advertising are also among the primary drivers for business expansion. Further, celebrity endorsements are among the key branding strategies adopted by the key manufacturers. Shifting preferences toward multipurpose sunglasses, need for anti-glare and ultraviolet radiation, and changing consumer lifestyles is supporting will drive the plano sunglasses industry expansion.
 

Eyewear Market, By Material

Metal-based eyewear market is expected to surpass USD 52 billion by 2025. Product availability in varied metallic material options such as titanium, nickel, stainless steel, and beryllium offers flexibility in design and contributes to achieving the required characteristics. Key features such as slimness along with lightweight properties, premium designer look, superior product finishing and better aesthetic appearance with enhanced durability fuelling this segment growth.  Monel is the most widely used metal in the spectacle frames production, accounting for over 20% of the global metal spectacles industry in 2018.
 

Eyewear Market, By Distribution Channel

UK Eyewear Market Statistics

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Optical stores accounted at over 23% of the global eyewear market share in 2018. Shifting consumer preference towards after-sales service is among the key aspects driving the product sales through the segment. In addition, the optical stores provide product variety ranging from economical brands to premium products, thus influencing the consumer buying decision. Many optical stores provide free or low-cost check-ups from trained optometrists. Henceforth, these stores are expected to be the most preferred distribution channel by customers to procure eyeglasses as they can receive a wide range of services including eye examinations and consultation services.
 

Online stores are projected to witness around 6% CAGR up to 2025. Shifting preference towards online shopping owing to busier lifestyles is propelling the eyewear industry share. Technological advancements in the industry such as the launch of visualization tools to try on products online are driving the product sales through online stores. Online websites offer convenience and are working on reducing the delivery time which is anticipated to propel the industry landscape. Also, these stores offer products at low prices and promote their products through the digital network by offering large discounts.
 

Eyewear Market, By Region

Asia Pacific Eyewear Market By Region

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North America accounted for more than 37% of the overall eyewear market revenue share in 2018. High disposable incomes accompanied by the existence of leading brands in the region are among the key factors augmenting the industry growth. Inclination towards for premium eyewear products is high among the consumers. Leading manufacturers in the region offer designer frames and high-end glasses. Further, prolonged usage of gadgets along with hectic lifestyle is the major driving factor propelling product penetration.
 

Asia Pacific is the fastest growing region observing over 5.5% CAGR from 2019 to 2025. Increase in preference for branded products along with product availability at lower costs is fueling the business development. Growing youth population and improved standard of living will boost demand for fashionable eyewear products. Also, countries such as China and India observe an increasing count of people suffering from eye defects such as myopia and hypermetropia. Product innovation in designs, as well as improved optical solutions, will boost the regional share over the projected timeline.
 

Competitive Market Share

Global eyewear market growth is highly fragmented owing to the presence of a large number of regional and multinationals players. However, the spectacles lenses, contact lenses, and Plano sunglasses industry share is dominated by a few multinational corporations. The key players include Essilor International S.A., Luxxotica, Johnson & Johnson, Alcon, Bausch & Lomb, Cooper Vision, Hoya Corporation, Fielmann AG, Carl Zeiss, Rodenstock, Safilo Group SpA, De Rigo SpA, and Marcolin. The foremost strategies observed among the industry participants include new product launches, merger & acquisitions, collaborations, production capacity expansions, and product innovations. For instance, in October 2018, Essilor, the leading spectacle lenses manufacturer merged with Luxxotica, a major player in the sunglasses market to gain competitive edge and enhance their geographic presence.
 

Industry Background

The global eyewear market is driven through spectacles and prescription contact lenses owing to rise in the count of patients suffering from visual inaccuracies particularly myopia, hyperopia, presbyopia, and astigmatism. The key dynamics leading to visual impairment include rapid urbanization-related to high stress, aging population causing age-related macular degeneration, diabetic retinopathy, vitamin deficiencies, as well as prolonged exposure of eyes to sunlight and dust. Whereas, urbanization is resulting in improved demand for branded eyewear, thus enhancing the plano sunglasses business expansion. Further, rise in eye concerns among consumers supported by the development of premium eye protection lenses for sunglasses is positively influencing the product demand.
 

Feed eyewear market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in million units & revenue in USD million from 2013 to 2025, for the following segments:

Market by Product

  • Spectacles
    • Product
      • Frames
        • Material
          • Plastic
          • Metal
      • Lenses
        • Material
          • Polycarbonate
          • Plastic
          • Polyurethane
          • Trivex
          • Others (crown glass)
    • Distribution channel
      • Optical store
      • Independent brand showrooms
      • Online stores
      • Retail stores
  • Contact lenses
    • Product
      • RPG
      • Soft contact
      • Hybrid contact
    • Material
      • Silicon
      • PMMA
      • Polymer
    • Distribution channel
      • Optical store
      • Independent brand showrooms
      • Online stores
      • Retail stores
  • Plano sunglasses
    • Product
      • Polarized
      • Non-polarized
    • Material
      • CR-39
      • Polycarbonate
    • Distribution channel
      • Optical store
      • Independent brand showrooms
      • Online stores
      • Retail stores

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
    • Sweden
    • Switzerland
    • Norway
    • Belgium
    • Bulgaria
  • Asia Pacific
    • China
    • India
    • Japan
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
    • Taiwan
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Tunisia

 

Frequently Asked Questions (FAQ) :

The eyewear market in 2018 exhibited a revenue of USD 120 billion.
eyewear market is forecast to exhibit a crcr of 5% through 2025.
According to Global Market Insights Inc, the market is expected to hit at 170 Billion (USD) by 2025.
Rising prevalence of eyesight disorders along with increasing consumer spending in North America, rising preference for luxury brands eyewear in Europe and rising eyewear production as well as consumption in several regional countries including China and India are the key factors expected to drive the global Market.
According to the research, the North America eyewear industry accounted for more than 37% CAGR in 2018.
Essilor International S.A., Luxxotica, Johnson & Johnson, Alcon, Bausch & Lomb, Cooper Vision, Hoya Corporation, Fielmann AG, Carl Zeiss, Rodenstock, Safilo Group SpA, De Rigo SpA, and Marcolin are the top contributors in the industry.

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Premium Report Details

  • Published Date: Jun 2019
  • Pages: 930
  • Tables: 1650
  • Charts / Figures: 18
  • Companies covered: 24
  • Countries covered: 32

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