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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Eyewear Market Trends
One of the prominent trends in the eyewear market is the increasing popularity of photochromic lenses, which adapt to different lighting conditions by darkening in sunlight and becoming clear indoors. Photochromic lenses offer the convenience of not having to switch between regular glasses and sunglasses as they provide a seamless transition when moving between indoor and outdoor environments, making them highly versatile and suitable for various activities throughout the day. These lenses provide automatic protection from ultraviolet (UV) rays when exposed to sunlight. By darkening in response to UV light, they reduce the risk of eye damage and strain caused by exposure to harmful rays, contributing to long-term eye health.
Moreover, consumers are becoming environmentally conscious and are looking for products that have a lower environmental impact, driving eyewear manufacturers to use materials like wood, bamboo, and others.
Responding to the growing trend of online shopping, several retailers are focusing on expanding their online presence and improving digital capabilities by leveraging advanced technologies. In January 2024, Walmart expanded its digital services by implementing a virtual try-on option exclusively for eyewear. This feature enables customers to digitally explore and test a wide array of eyewear styles through an online interface. By leveraging this technology, customers can conveniently preview how different glasses look on them before making a purchase, simulating the experience of trying on glasses in a physical store and boosting the glasses market.
Eyewear Market Report Snapshots
Eyewear Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global eyewear market attained a value of nearly USD 136.66 billion.
The market is projected to grow at a CAGR of 3.10% between 2024 and 2032.
The market is estimated to grow in the forecast period of 2024-2032 to attain a value of more than USD 180.15 billion by 2032.
The major drivers of the market are rising disposable incomes, growing consumer focus on appearance and aesthetics, increasing public awareness regarding eyecare, rising demand from the developing regions, increasing prevalence of visual deficiencies and ophthalmic disorders, and growing technological advancements.
The key trends guiding the growth of the eyewear market include the availability of premium and customised eyewear products and the increasing purchases from online stores.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest market share.
Spectacles represent the leading product type in the market.
The significant segments based on gender include men, women, and unisex.
The major distribution channels of the product include optical stores, independent brand showrooms, online stores, and retail stores.
The major players in the market are Luxottica Group S.p.A., Essilor of America, Inc., Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Medical GmbH), Safilo Group S.p.A, Alcon Vision LLC, Prada S.p.A., Oakley, Inc., The Cooper Companies Inc., Silhouette International Schmied AG, and LVMH Group, among others.
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