Global Eyewear Market 2019 Industry Analysis, Share, Growth, Sales, Trends, Supply, Forecast 2025

“”Eyewear Market””
Global Eyewear Market valued approximately USD 110 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.52% over the forecast period 2018-2025.

The mounting number of visual deficiencies coupled with surging awareness about eye examinations are some factors that benefit the eyewear market. Rising number of ophthalmic disorders including presbyopia, hypermetropia and myopia among aging population provides a significant boost to the market. A large portion of the population in emerging countries like India, Mexico and Brazil are afflicted with visual deficiencies which generally go unnoticed and uncorrected. To rectify this matter, various government and private institutions are making efforts by initiating eye care awareness campaigns, which is projected to work in favor of the market in the coming years.

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Increasing use of electronic devices such as televisions, mobile phones and computers among the younger generation leads to strain on eyes, which could boost the demand for eyewear products. Furthermore, continuous changes in lens prescriptions leads to regular renewal of spectacles, which could also induce market growth in the subsequent years.

Another important growth-inducing factor could be the surge in the use of sunglasses as a fashion accessory. Eyewear manufacturers are striving to meet with the evolving fashion trends among customers, apart from offering lenses and glasses according to the doctor’s prescription. Additionally, these vendors are vying for higher position in the market by providing customized eyewear, with appealing qualities pertaining to style, shape, and color.

Growing consumer spending on luxury and corrective eyewear is anticipated to take the market to greater heights in the upcoming years. Sensing various opportunities in the urban areas, manufacturers are coming up with innovative and fashionable eyewear for the youth, middle class, as well as the high-income groups. Plus, rising disposable income in countries like India, Brazil, and China, could have a lucrative effect on the market.

Growing visual impairment and need for vision correction have resulted in increased demand for eyewear. On top of that, health concerns like diabetes also impair the vision of people, which results in blindness. As a result, those with diabetes are required to undergo regular eye checkups to prevent further vision problems. Therefore, increasing visual deficiencies, as well as vision impairments, could help the market achieve massive revenues during the evaluation period.

The types of eyewear are contact lenses, spectacles, and sunglasses. Growing awareness with regard to the benefits of contact lenses with respect to better vision and higher aesthetic appeal has driven the product demand. Surging popularity of monthly disposable and daily disposable contact lenses, along with internet retailing, also contribute to its demand in the market. Eyewear products are generally used by children, adults and older adults.

The worldwide eyewear market has been analyzed in the primary regions of Asia Pacific, Europe, Latin America, North America, and the Rest of the World (RoW). Europe has been identified as the top market for eyewear with the highest revenue generation all over the world. The market growth in the region is in response to the high average selling prices of eyewear products as well as the rising inclination towards premium category.

North America is also making similar strides in the global market, having seized a considerable share. High disposable income of people and prevalence of fashion trends is touted to elevate the market position in the region in the coming years. Interestingly, Middle East & Africa could achieve strong CAGR during the review period, backed by the rise in the number of mall-based eyewear stores. Asia Pacific will also demonstrate significant growth during the conjectured timeframe owing to rising GDP rate, preference for luxury brand as well as consumer demographics.   


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