Eyewear Market to Witness Growth at a CAGR of 8.4% from 2022-2030

Posted on 2022-07-01 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, July 01, 2022 — /EPR Network/ —

Eyewear Industry Overview

The global eyewear market size is anticipated to reach USD 323.77 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to exhibit a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030. The growth can be attributed to the growing trend of customized eyewear, as consumers prefer unique products that can be designed according to their needs. Consumers prefer glasses according to the shapes of the face and eyes, the texture and color of the glasses, the design and material of the frame, etc. The popular customized eyewear includes photochromic glasses and glasses with high index numbers to eliminate UV radiation.

The technological developments in lens-making technology and 3D printing technology with eyewear manufacturing allow the market players to gain a strategic advantage. For instance, in December 2021, Safilo Group S.p.A introduced its first-to-market 3D printed custom-made snow goggles. This new product addresses a wide range of facial features and shapes, delivers all-day comfort, removes pressure points or hot spots, eliminates light leakage due to improper fit, and provides an expanded field of view.

The market space 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 leveraged it as an opportunity to provide facilities such as product virtualization and virtual facial analysis to their customers.

Eyewear Market Segmentation

Grand View Research has segmented the global eyewear market based on product, distribution channel, and region:

Based on the Product Insights, the market is segmented into Contact Lenses, Spectacles and Sunglasses.

The spectacles segment accounted for more than 55% in 2021, which can be credited to the increased product demand fueled by the rising prevalence of computer vision syndrome (CVS). This is majorly due to the increasing usage of mobile phones and digital screens among the global population.
The contact lensessegment captured a substantial revenue share of around 33% in 2021. It is expected to grow significantly over the upcoming years with light-adaptive lenses and multifocal toric lenses.

Based on the Distribution Channel Insights, the market is segmented into E-Commerce and Brick & Mortar.

The brick-and-mortar segment had dominated the market by capturing a notable revenue share of more than 79% in 2021. This can be attributed to people’s increasing awareness regarding regular eye-checks up and usage of eyeglasses, instigating the sale of eyeglasses from brick and mortar stores.
The e-commerce segment is expected to witness a growth rate of over 9.0% through 2030. Online services gained massive traction during the pandemic as people were forced to practice social isolation.

Eyewear Regional Outlook

North America
Europe
Asia Pacific
South America
Middle East & Africa (MEA)

Key Companies Profile

The major players operating in the market mainly focus on increasing R&D activities and developing products with high-end functionalities, e.g., smart glasses. They are also engaging in strategic alliances to strengthen their foothold in the market.

Some prominent players in the global Eyewear market include

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
Rodenstock GmbH
Seiko Optical Products Co., Ltd.
Shamir Optical Industry Ltd.
Silhouette International Schmied AG
Warby Parker
Zenni Optical, Inc.

Order a free sample PDF of the Eyewear Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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