The Eyewear Market was valued at USD 168 Bn in 2022 and is grow at a CAGR of 8.3% over the forecast period of 2023-2030
The eyewear market has witnessed significant growth in recent years, driven by various factors. One of the key drivers is the increasing awareness about eye health and the need for vision correction. With the rise in digital devices' usage and prolonged screen time, more people are experiencing vision-related issues, leading to a higher demand for eyewear products.
Moreover, fashion trends have played a crucial role in shaping the eyewear market. Eyeglasses and sunglasses are no longer just functional accessories but have become fashion statements. Consumers now seek stylish frames that complement their personal style and enhance their overall appearance. This shift in consumer preferences has led to an influx of trendy designs, colors, and materials in the eyewear market.
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Another factor contributing to the growth of the eyewear market is technological advancements. The introduction of innovative lens materials, such as high-index plastics or polycarbonates, has made glasses thinner, lighter, and more comfortable to wear. Additionally, lens coatings like anti-glare or blue-light filters have gained Furthermore, the rise of e-commerce has greatly impacted the eyewear market. With the convenience of online shopping, consumers now have access to a wide range of eyewear options from the comfort of their own homes. This has not only increased the availability of eyewear products but also allowed for greater price transparency and competition among retailers. Moreover, the growing awareness of the importance of eye health has also played a significant role in the expansion of the eyewear market. People are now more conscious of the harmful effects of prolonged exposure to digital screens and UV rays, leading to an increased demand for protective eyewear. As a result, eyewear manufacturers have responded by developing specialized glasses that offer enhanced protection and reduce eye strain. Additionally, the fashion industry's influence on eyewear trends cannot be overlooked. Eyewear has become a fashion statement, with many individuals using glasses as a way to express their personal style. This has led to collaborations between eyewear brands and fashion designers, further fueling the market's growth and pushing the boundaries of eyewear design. Overall, the combination of shifting consumer preferences, technological advancements, e-commerce, increased awareness of eye health, and the influence of fashion has created a thriving and dynamic eyewear market.
KEY MARKET SEGMENTS
By product Type
- Prescription Glasses/ Spectacles
- Contact Lenses
By Sales Channel
- Retail Stores
- Online Stores
By End User
Major Players Listed in the Report are as Follows:
Coopervision, Carl Zeissa AG, Johnson & Johnson Vision, CIBA Vision, Fielmann AG, Hoya Corporation, JINS, Marchon Eyewear, Warby Parker, Zenni Optical, Chemilens, and others.
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