According to the latest report by IMARC Group, titled, “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global eyewear market size reached a value of US$ 127.8 Billion in 2020. Looking forward, the market expects to reach a value of US$ 196 Billion by 2026, exhibiting a CAGR of around 7% during 2021-2026.
Eyewear products help in improving the visual acuity and protecting the eyes against environmental damage. The increasing usage of electronic gadgets or devices by both the children and adults has led to a rise in the prevalence of eyesight related problems. Moreover, extreme exposure to UV rays and population aging have also led to an increase in the cases of visual ailments. In line with this, governments in many countries are initiating programs in partnership with different organizations to provide affordable eye care facilities, particularly to the rural population, which is aiding in augmenting the sales of eyewear products across the globe.
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Global Eyewear Market Trends:
Consumers nowadays are opting for trendy and designer sunglasses and spectacles to enhance their appearances as well as to protect their eyes from damage. Further, with rising preferences of the consumers towards luxury and premium products, the manufacturers are investing in the development and marketing of technologically advanced eyewear products. For instance, Nikon Lenswear has developed innovative lenses with improved optical designs, materials and enhanced coatings. Apart from this, many government and non-government institutions are conducting programs to create awareness among people regarding the availability of advanced treatments for eye diseases. These initiatives have facilitated the expansion of the global eyewear industry.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Eyewear Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the market players being: ESSILORLUXOTTICA (ESLOF), ESSILOR INTERNATIONAL SA (EI.VI), Johnson & Johnson (JNJ), Safilo Group S.p.A., and Alcon Vision LLC.
The report has segmented the market on the basis of Product, Gender, Distribution Channel, and Region.
Segmentation by Product:
- Contact lenses
Segmentation by Gender:
Segmentation by Distribution Channel:
- Optical Stores
- Independent Brand Showrooms
- Online Stores
- Retail Stores
Segmentation by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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