What is Global Eyeglasses Market?
The Global Eyeglasses Market is a vast and dynamic sector that encompasses a wide range of products, including spectacles, contact lenses, and plano sunglasses. These eyewear products are not just fashion accessories but also essential tools for vision correction. The market's value was estimated at US$ 127360 million in 2022, and it is projected to reach US$ 177520 million by 2029, growing at a compound annual growth rate (CAGR) of 4.8% from 2023 to 2029. This growth is driven by various factors such as increasing prevalence of vision impairment, rising awareness about eye health, and technological advancements in eyewear products.
Spctacles, Contact Lenses, Plano Sunglasses in the Global Eyeglasses Market:
Spectacles, contact lenses, and plano sunglasses are the three main product types in the Global Eyeglasses Market. Spectacles, which include both prescription glasses and reading glasses, hold the largest market share, accounting for over 75% of the total market. This is primarily due to their widespread use for vision correction and protection against harmful UV rays. Contact lenses, on the other hand, are gaining popularity among consumers due to their convenience and aesthetic appeal. Plano sunglasses, which are non-prescription sunglasses used to protect the eyes from sunlight, also constitute a significant portion of the market.
Young Adults, Adults, Mature Adults, Seniors, Others in the Global Eyeglasses Market:
The Global Eyeglasses Market caters to a diverse range of consumers, including young adults, adults, mature adults, seniors, and others. Young adults and adults form the largest consumer group, driven by the high prevalence of vision problems in these age groups and the growing trend of using eyewear as a fashion accessory. Mature adults and seniors, who are more likely to suffer from age-related eye conditions, also represent a significant portion of the market. The market also caters to other consumer groups such as children and individuals with specific eye conditions.
Global Eyeglasses Market Outlook:
The Global Eyeglasses Market's outlook is quite promising, with a steady growth rate projected for the coming years. The market, which was valued at US$ 127360 million in 2022, is expected to reach a valuation of US$ 177520 million by 2029, growing at a CAGR of 4.8% during the forecast period of 2023-2029. This growth can be attributed to various factors, including the increasing prevalence of vision impairment, rising awareness about eye health, and advancements in eyewear technology. The market is dominated by the top three manufacturers, who collectively hold a market share of over 30%. In terms of product types, spectacles are the most popular, accounting for over 75% of the market share.
| Report Metric | Details |
| Report Name | Eyeglasses Market |
| Accounted market size in 2022 | US$ 127360 in million |
| Forecasted market size in 2029 | US$ 177520 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Luxottica Group S.p.A., Essilor International, Grand Vision, Formosa Optical, Carl Zeiss AG, Hoya Corporation, De Rigo S.p.A., Indo Internacional, Safilo Group S.p.A., Johnson & Johnson, CIBA Vision, CooperVision, GBV, Marchon, Fielmann AG, Bausch & Lomb, Charmant, TEK Optical Canada |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
