The global Eyewear Market size is expected to reach USD 323.77 billion by 2030, expanding at a CAGR of 8.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the rising popularity of customized eyewear, as consumers prefer unique products that can be designed as per their needs. They prefer glasses that suit the face and eye shape, while also focusing on the texture and color of the glasses and the design & material of the frame.
Popular
customized eyewear includes photochromic glasses and glasses with high index
numbers to eliminate UV radiation. The technological developments in
lens-making technology and the availability of 3D printing technology
for eyewear manufacturing allow market players to gain a strategic advantage.
For
instance, in February 2023, Innovative Eyewear, Inc. launched its newest
collection, Lyte 2.0. By combining fashionable frames with cutting-edge
technologies like open audio, voice control, and app integrations, the Lyte 2.0
range aims to offer customers a distinctive fusion of style and utility. Users
can experience high-quality audio and use the internet with Lyte 2.0, allowing
them to stay connected to the world.
The
market is being strongly influenced by the collaboration of digital channels
with the eyewear value chain, which has exponentially increased the sales of
eyewear products. As the e-commerce distribution channel is gaining
momentum, several eyewear companies have leveraged it as an opportunity to
offer features like product virtualization and virtual facial analysis to their
customers. Investing in digital channels helps companies maintain crucial
consumer data such as buying preferences, feedback, and search history. This
enables companies to offer specific products to their customers in the future.
Another
important factor changing the market dynamics is the increased emphasis on
sustainability among eyewear companies. They have started offering eyewear made
of eco-friendly materials to practice sustainable development while enhancing
customer experience. For instance, in August 2022, Zenni launched ReMakes, a
new sustainable eyewear collection made with 100% certified recycled post-consumer
plastic.
The
initiative was aimed at supporting the Wyland Foundation's purpose of
promoting, protecting, and preserving the world's seas, waterways, and marine
life. Moreover, companies are also applying different materials, including
wood, leather, paper, and wool, to develop eyewear with innovative textures,
which is expected to attract a more extensive customer base in the coming
years.
Related Press
Release@ Eyewear
Market Report
Eyewear Market Report Highlights
- In terms of
product, the sunglasses segment is expected to witness substantial growth
over the forecast period, which can be attributed to the growing awareness
among people about the significance of protecting the eyes from UV light.
Besides, rising consumer interest in luxury fashion accessories will
further support segment growth
- Based on the
distribution channel, the e-commerce segment is anticipated to observe a
considerable growth rate of 9.7% by 2030. This can be credited to the
various benefits associated with this channel, such as ease of access,
improved functionality, better discounts, and more buying options
- In terms of
region, Asia Pacific is expected to record the highest CAGR of 10.5% from
2023 to 2030, which can be mainly attributed to the resumption of eyewear
manufacturing and supply chain activities in the region
- The
increasing penetration of colored and soft contact lenses in Japan and
China further enhances the regional eyewear industry in the Asia
Pacific
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Eyewear Market Segmentation
Grand
View Research has segmented the global eyewear market based on product,
distribution channel, and region:
Eyewear Product Outlook (Volume, Million Units; Revenue,
USD Billion, 2018 - 2030)
- Contact
Lenses
- Premium
Contact Lenses
- Mass
Contact Lenses
- Spectacles
- Spectacle
Frame
- Type
- Premium
Spectacle Frames
- Mass
Spectacle Frames
- Style
- Round
- Square
- Rectangle
- Oval
- Others
- Spectacle
Lenses
- Sunglasses
- Lens Type
- Polarized
Sunglasses
- Non-Polarized
Sunglasses
- Lens
Material
- CR-39
- Polycarbonate
- Polyurethane
- Others
Eyewear Distribution Channel Outlook (Revenue, USD
Billion, 2018 - 2030)
- E-commerce
- Brick &
Mortar
Eyewear Regional Outlook (Volume, Million Units; Revenue,
USD Billion, 2018 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Vietnam
- South
America
- Brazil
- MEA
List of Key Players in the Eyewear Market
- Johnson
& Johnson Vision Care, Inc.
- EssilorLuxottica
- CooperVision
- Carl Zeiss
AG
- Bausch &
Lomb Inc.
- Safilo Group
S.p.A.
- Charmant
Group
- Chemilens
(CHEMIGLAS Corp.)
- CIBA VISION
- De Rigo
Vision S.p.A
- Fielmann AG
- HOYA
Corporation
- JINS, Inc.
- Marchon
Eyewear, Inc.
- Marcolin
S.p.A
- QSpex
Technologies
- Rodenstock
GmbH
- Seiko
Optical Products Co., Ltd.
- Shamir
Optical Industry Ltd.
- Silhouette
International Schmied AG
- Warby Parker
- Zenni
Optical, Inc.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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