Eyewear Market (Product Type - Spectacles (Spectacle Lenses and Spectacle Frames), Contact Lenses (Soft Contact Lenses and Rigid Contact Lenses), and Sunglasses (Polarized Sunglasses and Non-Polarized Sunglasses); Distribution Channel - Online Channel and Offline Channel) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2027
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Global Eyewear Market: Snapshot
The global eyewear market is expected to grow owing to factors such as high disposable income, increasing prevalence of eye disorders and growing demand for luxury sunglasses among the youth. Furthermore, growing consumer demand for eyewear products and increasing myopia rates among others has led to an increase in spectacles market. Furthermore, rise in percentage of population who can afford luxury goods, and increasing disposable income are major driving force for the expansion of the eyewear market. The global eyewear market was valued at US$ 155,652.3 Mn in 2018 and is forecasted to expand at a CAGR of 8.30 % from 2019 to 2027.It is estimated to reach a value of US$ 319,015.5 Mn by 2027.
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Rising prevalence of acute myopia at younger ages
Myopia is an eye related prevalent disorders which is highly associated with comorbidities which increases risk of irreversible loss of vision and austere, such as retinal detachment, sub retinal neovascularization, dense cataract. Myopia prevalence was over 6.1% among children in 2018 and this disorder at younger ages in Global is expected to fuel the demand for eye wear market between 2019 and 2027
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Sales Through Online Channel Is Expected To Boost The Market Growth
In terms of distribution, the market is classified into online channel and offline channel. Offline channel was the largest segment of the eyewear market in 2018. Online channel segment is expected to grow rapidly during the forecast period due to strong distribution network. The global eye market has been segmented on the basis of product type, distribution and geography. On the basis of product type, the market is segmented into Spectacles, Contact Lenses and Sunglasses. Spectacles has been further sub-divided into Spectacle Lenses and Spectacle Frames. Contact Lenses can be sub-segmented into Soft Contact Lenses and Rigid Contact Lenses. On the basis of Sunglasses, the market is segmented into Polarized Sunglasses and Non-Polarized Sunglasses. The global eyewear market by Sunglasses is expected to be attractive for polarized sunglasses during the forecast period.
Asia Pacific is Expected to Be The Fastest Growing Market
In terms of geography, the market is segmented into five regions namely North America, Europe, Asia Pacific, Middle East and Africa and South America. Asia Pacific accounted for the highest market share in eyewear market and is expected to grow at at a higher CAGR in coming years. The primary drivers for the growth of eyewear market in Asia Pacific region are higher GDP rate, consumer demographics, and preference for luxury brand. Middle East & Africa are also anticipated to grow at a higher rate during the forecast period due to the rise in mall based eyewear stores and increasing impact of ecommerce players in consumer buying behavior.
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In last few years, organizations have changed their business models in order to incorporate the changes in demand and regulations. Major companies are focusing on product innovation and acquisitions along with partnerships to expand their business. Major eye market players profiled in the report include
- Luxottica Group S.p.A.
- Essilor International
- Zeiss International
- Johnson & Johnson Vision Care, Inc.
- Bausch & Lomb Inc.
- Marchon Eyewear, Inc.
- Fielmann AG
- HOYA Corporation
- De Rigo S.p.A
- Zeiss International.
Global Eyewear Market – Scope of the Report
Transparency Market Research’s recent report on the eyewear market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the eyewear market analyzes the scenario for the period 2019 - 2027, wherein 2018 is the base year and 2017 and earlier is historical data. The report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the eyewear market provides data on the developments undertaken by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the global Eyewear market gives readers an individual understanding of the market.
The study discusses the underlying trends and impact of various factors that drive the global eyewear market, along with their influence on the evolution of the market.
The study also offers Porter’s Five Force Analysis, value chain analysis, key trend analysis, and SWOT analysis of the global Eyewear market in order to highlight the crucial growth tactics and opportunities for market players.
Key Questions Answered in This Report on the Eyewear Market
- How much revenue will the eyewear market generate by the end of the forecast period?
- What application eyewear is likely to gain the maximum market share by 2027?
- What regions currently contribute the maximum share to the overall eyewear market?
- What are the indicators expected to drive the global eyewear market?
- Which region is likely to be a lucrative market during the forecast period?
- What are the essential strategies incorporated by key stakeholders in the global eyewear market to expand their geographical presence?
- What are the major advancements witnessed in the global eyewear market?
The report answers these questions and more about the global eyewear market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Global Eyewear Market – Research Methodology
The TMR report on the global eyewear market is based on a complete and comprehensive evaluation of the market backed by secondary and primary sources. The competitive scenario of the global eyewear market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global eyewear market arrive at predictions and estimations, and calculate the forecast for the market.
The report uses an analytical triangulation method to estimate the numbers and figures of the global eyewear market with both bottom-up and top-down approaches.
The detailed assessment of the global eyewear market, along with an overview of the landscape is provided based on a careful examination of the avenues related to this market. Analysts’ conclusions on how the global eyewear market is set to grow are based on carefully vetted primary and secondary sources.
- In this chapter, the report offers a dashboard view of the competition matrix of leading players in the global eyewear market, along with structural analysis
- The report includes the below mentioned pointers of major players operating in the eyewear market:
- Company Overview
- Product Profiling
- Product Innovation
- Business Strategies/Recent Developments
- Technological Advancements
- Key Mergers & Acquisitions
- Expansion Strategies
- Company Financials
Some of the Key Players Covered Under the Scope Include:
Johnson & Johnson Vision Care, Inc.
Bausch & Lomb Inc.
Marchon Eyewear, Inc.
Luxottica Group S.p.A
De Rigo S.p.A
Global Eyewear Market, By Product Type
- Spectacle Lenses
- Spectacle Frames
- Contact Lenses
- Soft Contact Lenses
- Rigid Contact Lenses
- Polarized Sunglasses
- Non-Polarized Sunglasses
Global Eyewear Market, By Distribution
- Online Channel
- Offline Channel
Global Eyewear Market, By Geography
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Rest of MEA
- South America
- Rest of South America
Global Eyewear Market – Segmentation
The report on the global eyewear market provides information on the basis of product type, distribution channel, and region.
Middle East & Africa