Lucintel Forecasts Eyewear Market to Reach $129.8 Billion by 2026

According to the recent study the eyewear market is projected to reach an estimated $129.8 billion by 2026 from $106.4 billion in 2020, at a CAGR of 3.1% from 2020 to 2026. Growth in this market is primarily driven by prescription spectacles and contact lenses due to increases in vision impairments, growing geriatric population, and rising exposure of younger generation to smartphones and computer leads to problems with eyesight.

Browse 195 figures / charts and 153 tables in this 330 -page report to understand trends, opportunities and forecast in eyewear market by product type (spectacles, contact lenses, and sunglasses),  distribution channel (offline, and online), gender (men, and women), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Spectacles market is expected to remain the largest segment during the forecast period.”

Based on product type, the eyewear market is segmented into spectacles, contact lenses, and sunglasses. Lucintel forecasts that the spectacles market is expected to remain the largest segment due to growing population suffering from vision problems, increasing awareness regarding eye healthcare, and growing number of users of smartphones and computers. The sunglasses segment is expected to experience the highest growth during the forecast period, due to changing fashion trends and increasing awareness regarding harmful effects of UV rays on the eyes.

“Within the eyewear market, the offline channel segment is expected to remain the largest distribution channel”

Based on distribution channel, the offline channel segment is expected to witness the largest segment over the forecast period due to increasing consumer preference towards after sales services and ease to make a choice of eyewear products.

“Asia pacific will dominate the eyewear market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to growing awareness about eye healthcare, increase in population of vision deteriorates with ageing, and rising disposable incomes further accelerating the eyewear market growth in this region.

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Major players of eyewear market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. EssilorLuxottica, Carl Zeiss, Johnson & Johnson, BAUSCH and LOMB, Marchon, Fielmann, Alcon Vision, Hoya, and Safilo are among the major eyewear providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/eyewear-market.aspx or helpdesk@lucintel.com