Global Eyewear Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

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Eyewear Market: By Product Type (Contact lenses, Spectacles, Sunglasses and Others); By Distribution Channel (E-commerce and Brick & Mortar); and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030

SKU: FPG0403 Category: Tag:

Description

Eyewear Market

Product Overview
Eyewear is a set of accessories worn over the eyes to correct vision or shield them from debris, harmful radiation, or too much light. Spectacles, goggles, and sunglasses are used to correct vision or shield the eyes from harmful UV rays and dust particles. Increased life expectancy, a rising geriatric population, and changing fashion trends have all fueled global demand for eyewear. In today’s world, people don’t only wear eyewear for vision correction; they even wear it to enhance their appearance. Because of technological advances and the availability of lightweight materials, several industry players sell innovative spectacles and lenses.

Market Highlights
Global Eyewear is expected to project a notable CAGR of 9.9% in 2030.
Global Eyewear to surpass USD XXXX million by 2030 from USD XXXX million in 2020 at a CAGR of 9.9% in the coming years, i.e., 2021-30. This growth is projected due to the rising popularity of fast fashion among millennials which is encouraging eyewear manufacturers to design affordable and attractive eyewear. The growth of online stores is also propelling the selling of Eyewear. E-commerce allows the simple purchasing of goods manufactured in remote locations. This, in turn, has made a major contribution to the development of the global Eyewear industry.

Global Eyewear: Segments
Spectacles segment to grow with the highest CAGR during 2021-30
Global Eyewear is segmented by product type into Contact lenses, Spectacles, Sunglasses, and others. Spectacles segment held the largest market share of XX.X% in the year 2020. This is due to the widespread use of cell phones and digital displays, which has resulted in an increase in the prevalence of computer vision syndrome (CVS) in recent years. Children developing CVS as a result of the increasing prevalence of online learning has prompted the adoption of anti-fatigue and anti-glare glasses. Recent trends, such as the increasing popularity of transparent eyeglasses and vivid translucent frames, have also boosted the overall demand for spectacles.

Brick & Mortar segment to grow with the highest CAGR during 2021-30
Global Eyewear is segmented by distribution channel into E-commerce and brick and mortar. Over the forecast period, the brick-and-mortar distribution channel is projected to expand at the fastest pace. Due to the introduction of lockdowns in many countries, which limited the sales of brick and mortar stores, the revenue share has decreased marginally from previous years. However, the general pattern of having one’s eye power tested by an optometrist and then purchasing glasses from a store is expected to continue in the coming years.

Market Dynamics
Drivers
Increasing living standards and dependence on digital technology
Increased demand for eyewear has resulted from increasing visual impairment and the need for vision correction. The younger generation is predominantly dependent on digital devices, spending the bulk of their time on cell phones, desktop computers, and video games. People have been motivated to purchase quality eyewear items that are in perfect keeping with their rising living standards as their disposable income has increased. Furthermore, people are now opting for fashionable and designer sunglasses in line with current market trends. Young people tend to use contact lenses to improve their overall look. As a result, growing living standards and heightened fashion awareness would lead to the growth of the eyewear industry, positively influencing the market growth.

Partnerships and initiatives for quality eye care
In order to minimize eye-related problems, deliberate attempts are now being made to standardize medical and vision care services in rural areas. Various states, in conjunction with various organizations, are introducing initiatives to provide quality eye care to the rural population. Rural residents would benefit from accessible healthcare and eye care services if such measures were introduced. As a result of these partnerships with various organizations, the eyewear market is expected to expand.

Restraints
Changing fashion trends as well as consumer tastes
Changing fashion trends, as well as a constant change in customer tastes and expectations, have resulted in increasing prices for the Eyewear market over time. As a result, rising production costs for the market are having a negative effect on the global Eyewear industry.

Global Eyewear: Key Players
Carl Zeiss AG

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Safilo Group S.p.A.
GrandVision
Alcon Vision LLC
Johnson & Johnson Vision Care, Inc.
Marcolin SpA
Marchon Eyewear Inc.
De Rigo Vision S.p.A.
Essilor International
Other Prominent Players
Global Eyewear: Regions
Global Eyewear is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Eyewear in Europe held the largest market share of XX.X% in the year 2020 in terms of revenue. People in the area, which is known for its fashion, are increasingly wearing eyewear as a fashion accessory, such as colored contact lenses, sunglasses, and frames. Furthermore, the existence of many fashion brands in the area ensures that healthy competition is preserved by providing reasonable prices on their products. In EU-regulated countries, eyewear and sunglasses fall under the category of personal protective equipment (PPE), making it mandatory for manufacturers to meet the directives, this helps to monitor the market and ensures that eyewear companies have steady and safe growth opportunities.

Global Eyewear is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Eyewear report also contains analysis on:
Eyewear Segments:

By Product Type
Contact lenses
Spectacles
Sunglasses
Others
By Distribution Channel
E-commerce
Brick and mortar
Eyewear Dynamics
Eyewear Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Additional information

Publisher

Geography Covered

Date Published

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Pages

Format

Table of Contents

Contents 1. Executive Summary 2. Global Eyewear Market 2.1. Product Overview 2.2. Market Definition 2.3. Segmentation 2.4. Assumptions and Acronyms 3. Research Methodology 3.1. Research Objectives 3.2. Primary Research 3.3. Secondary Research 3.4. Forecast Model 3.5. Market Size Estimation 4. Average Pricing Analysis 5. Macro-Economic Indicators 6. Market Dynamics 6.1. Growth Drivers 6.2. Restraints 6.3. Opportunity 6.4. Trends 7. Correlation & Regression Analysis 7.1. Correlation Matrix 7.2. Regression Matrix 8. Recent Development, Policies & Regulatory Landscape 9. Risk Analysis 9.1. Demand Risk Analysis 9.2. Supply Risk Analysis 10. Global Eyewear Market Analysis 10.1. Porters Five Forces 10.1.1. Threat of New Entrants 10.1.2. Bargaining Power of Suppliers 10.1.3. Threat of Substitutes 10.1.4. Rivalry 10.2. PEST Analysis 10.2.1. Political 10.2.2. Economic 10.2.3. Social 10.2.4. Technological 11. Global Eyewear Market 11.1. Market Size & forecast, 2020A-2030F 11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12. Global Eyewear Market: Market Segmentation 12.1. By Regions 12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2. By Product Type: Market Share (2020-2030F) 12.2.1. Contact lenses, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2.2. Spectacles, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2.3. Sunglasses, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.2.4. Others, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3. By Distribution Channel: Market Share (2020-2030F) 12.3.1. E-commerce, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 12.3.2. Brick and mortar, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F 13 Company Profile 13.1. Carl Zeiss AG 13.1.1. Company Overview 13.1.2. Company Total Revenue (Financials) 13.1.3. Market Potential 13.1.4. Global Presence 13.1.5. Key Performance Indicators 13.1.6. SWOT Analysis 13.1.7. Product Launch 13.2. Safilo Group S.p.A. 13.3. GrandVision 13.4. Alcon Vision LLC 13.5. Johnson & Johnson Vision Care, Inc. 13.6. Marcolin SpA 13.7. Marchon Eyewear Inc. 13.8. De Rigo Vision S.p.A. 13.9. Essilor International 13.10. Other Prominent Players 14 Consultant Recommendation **The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.