Global Eyewear Market Report 2023: Sector is Expected to Reach $223.22 Billion by 2030 at a CAGR of 7.4%
Global Eyewear Market
Dublin, May 10, 2023 (GLOBE NEWSWIRE) -- The "Eyewear Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global eyewear market will reach US$ 223.22 Billion in 2030, from US$ 126.09 Billion in 2022 at a CAGR of 7.40%.
Technology has increased screen time, causing eye strain, dry eyes, and related issues. Aging increases the risk of developing age-related eye problems like cataracts, glaucoma, and macular degeneration. Some eye problems are hereditary. Neglecting eye care and skipping regular eye exams can result in undetected eye problems that worsen over time.
According to a report by the World Health Organization (WHO) in 2022, more than 2.2 Billion people worldwide have either near or distant vision impairments. Almost half of these cases, at least 1 billion, could have been prevented or not yet treated. Eyewear corrects vision problems such as near-sightedness, farsightedness, and astigmatism, enhancing the quality of life. Sunglasses and safety glasses protect against UV rays, glare, and debris during outdoor activities.
Fashionable eyewear complements the style and suits different preferences. It reduces eye strain during extended computer use and reading. Vision correction is convenient with eyewear, allowing individuals to continue their daily activities without worrying about their vision.
As the global workforce expands, many individuals embrace sports and fitness as recreational activities. This shift in lifestyle preferences has increased demand for sports accessories, including sports sunglasses, particularly among endurance sports enthusiasts.
The World Health Organisation (WHO) estimates that roughly 94 million people have cataract-related vision problems, and eyewear is often necessary following cataract surgery. While many individuals experience vision improvement after surgery, some may still require eyeglasses. In addition, even before surgery, discomfort may be present, so eyewear is commonly used post-surgery. This trend shall contribute to eyewear market growth during the forecast period.
Company's primary focus is enhancing the consumer experience by introducing innovative products and new services in the eyewear market. For example, Essilor has launched the My Vision Check app, allowing consumers to conduct vision screenings at home and book an appointment for a comprehensive eye examination at their local practice as early as July 2021.
Expanding distribution channels, including e-commerce websites and social media platforms, aid the eyewear market's growth. Eyewear companies are advertising heavily on popular social media platforms like Instagram, Twitter, and Facebook, allowing them to gather insights into consumer preferences and offer personalized products. Furthermore, these platforms enable companies to employ innovative marketing techniques such as influencer and affiliate marketing, driving profitability. Hence, the market value for the global eyewear market was US$ 126.09 Billion in 2022.
Key Players Analysis
Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision are significant companies competing in the eyewear market.
In January 2022: The newly launched Crizal Sapphire HR by EssilorLuxottica SA features an advanced anti-reflective coating incorporating Crizal High Resistance technology. As per the company, this technology offers significantly enhanced scratch resistance of up to 70% and up to a 20% improvement in thermal resistance.
The report titled "Global Eyewear Market Global Forecast by Product Type (Spectacles, Sunglasses, and Contact lenses), Mode of Sales (Online, and Offline), End Users (Men, Women, and Unisex) Regions (North America, Europe, Asia-Pacific, and ROW), Company Analysis (Burberry Group, Essilor Luxottica, Carl Zeiss Group, Hoya Corporation, Prada, Tesco, Louis Vuitton, and Cooper Vision)' provides a detailed analysis of Global Eyewear Market.
Product Type - Market breakup from 3 Viewpoints:
3. Contact lenses
Mode of Sales - Market breakup from 2 Viewpoints:
End-Users - Market breakup from 3 Viewpoints:
Regions - Market breakup from 3 Viewpoints:
1. North America
4. Rest of world
Company have been covered from 3 Viewpoints:
2. Recent Development
No. of Pages
2022 - 2030
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
For more information about this report visit https://www.researchandmarkets.com/r/lii3cf
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