+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Eyeglasses - Global Market Trajectory & Analytics

  • PDF Icon

    Report

  • 841 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 347978

Global Eyeglasses Market to Reach $186.9 Billion by 2026


The proliferation of all forms of eyewear across the globe has traditionally been driven by the rise in the number of individuals requiring vision correction and by the rising emphasis placed on eye protection. With the increasing number of cases of visual impairments due to myopia, hyperopia, presbyopia and astigmatism growing across the world, demand for eyeglasses and other vision correction modalities continues to grow. Prescription glasses market remains buoyant despite the high market penetration in most geographic regions, primarily due to demographic factors such as the urbanization, increase in per capita incomes, increasing access to healthcare, burgeoning ageing population, and the increasing incidence and prevalence of diabetes. Lifestyle conditions represent another major factor, with the increasing rate of office jobs, rising frequency of travel, and higher usage of electronics devices/appliances leading to a dramatic increase in exposure to harmful radiation from personal computers, smartphones, tablet PCs, televisions, CFL bulbs, and LEDs. Despite the high popularity of contact lenses as an alternative to spectacles, eyeglasses market continues to hold its own partly due to the ease of use of associated with eyeglasses compared to contact lenses, as well as the improvement in technological and aesthetic qualities of eyeglass lenses and frames. Due to the low access to eye-testing facilities providing prescriptions, developing countries continue to be underpenetrated compared to developed economies. The improving public and private healthcare infrastructure in developing markets is therefore expected to benefit the prescription eyeglasses market in the near future.

Amid the COVID-19 crisis, the global market for Eyeglasses estimated at US$149.6 Billion in the year 2022, is projected to reach a revised size of US$186.9 Billion by 2026, growing at a CAGR of 5% over the analysis period. Lenses, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$76.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Frames segment is readjusted to a revised 5.8% CAGR for the next 7-year period. While prescription eyeglass lenses and frames are purchased as a single unit, changes in prescription lead to higher frequency of replacement of the lens, as a result of which the lenses product segment contributes a greater share of volume and value sales in the overall eyeglasses market.

The U.S. Market is Estimated at $41.8 Billion in 2022, While China is Forecast to Reach $20.2 Billion by 2026


The Eyeglasses market in the U.S. is estimated at US$41.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$20.2 Billion by the year 2026 trailing a CAGR of 7.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR. North America and Western Europe are relatively mature market for eyeglasses, given the high levels of consumer awareness about eyewear and the prescription-driven nature of the market, coupled with higher uptake of sunglasses. Consumers in North America show a high affinity for premium, fashionable and branded eyeglass frames and sunglasses fitted with lenses with UV-filter, anti-glare, and scratch-proof coatings. Europe`s higher contribution to the worldwide eyeglass in terms of value sales is due to higher consumption of high-end and high-priced products, and high brand awareness among consumers. The market is witnessing an increasing trend towards online retail of eyewear products. The strong presence of leading industry players such as Safilo Group and Luxottica Group also presents favorable prospects for the European eyewear market. Growth in Asia-Pacific region is being spearheaded by emerging economies such as China and India with high population density and increasing eyewear penetration.

Sunglasses Segment to Reach $50.1 Billion by 2026


While polarized sunglasses account for about a fifth of overall sunglass shipments, plano sunglasses represent one of the fastest-emerging product segments. Consumers are also migrating from traditional non-polarized sunglasses to more expensive polarized sunglasses, which filter out horizontal polarized light, and thereby enable visual sharpness and protect eye health. Plano sunglasses are not fitted with Rx lenses, and therefore are driven by fashion trends as well as the need to protect the eyes from ultraviolet radiations, rather than prescriptions. In the global Sunglasses segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$31.6 Billion will reach a projected size of US$41.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.8 Billion by the year 2026, while Latin America will expand at a 5% CAGR through the analysis period.

Select Competitors (Total 488 Featured):

  • Carl Zeiss AG
  • De Rigo S.p.A.
  • Essilor International S.A.
  • Hoya Corporation
  • Indo Optical S.L.U.
  • Luxottica Group S.p.A.
  • Oakley Inc.
  • Rodenstock GmbH
  • Safilo Group S.p.A.
  • TEK Optical Canada

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Eyewear Market Amid the COVID-19 Pandemic
  • Percentage Change in Weekly Eye Exams, in the US, January - August: 2020 vs 2019
  • Percentage Change in Weekly Sales of Lenses in the US, January - August: 2020 vs 2019
  • COVID-19 Unleashes New Technology Era for Eye Care Industry
  • Heightened Focus on Safety & Hygiene Presents Lucrative Avenues for Eyewear Brands
  • COVID-19 to Galvanize Transition from Contact Lenses toward Eyeglasses
  • Online Sales of Eyewear Products Surge Amidst the COVID-19 Pandemic
  • Eyewear Retailers Bet on Virtual Try-Ons
  • DTC Glasses & Contacts Brands Tap Work-from-Home Trend amid COVID-19 for Enviable Gains
  • Eyeglasses: An Introduction
  • Product Overview
  • Lenses
  • Frames
  • Sunglasses
  • Eye Health Awareness: A Critical Factor to Growth
  • Outlook
  • Prevalence of Visual Impairments Fuels Demand for Eyeglasses
  • Vision Facts, Figures and Opportunities
  • Number of People Requiring Vision Correction Worldwide in Billion for the Years 2015, 2020 and 2030
  • World Population with Myopia and High Myopia in Millions: 2000-2030
  • Number of People Affected by Select Eye Conditions: 2019
  • Percentage People with Unaddressed Presbyopia by Region
  • Analysis by Geographic Region
  • Analysis by Product Segment
  • Eyeglasses Continue to Face Strong Competition from Contact Lenses
  • Global Vision Correction Market Breakdown (in %) by Category for 2020E
  • Competitive Landscape
  • Market Share of Leading Players in the Global Spectacle Lenses Market: 2019
  • Market Share of Leading Players in the Global Spectacle Frames Market: 2019
  • Market Share of Leading Players in the Global Sunglasses Market: 2019
  • Recent Market Activity
  • Eyeglasses - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Popular Eyewear Trends for 2020
  • Rise in Myopia Rate to Benefit Demand for Eyeglasses
  • Percentage of Population with Myopia: 2000, 2010, 2020, 2030, 2040, & 2050
  • Prevalence (%) of Myopia by Region for the Years 2000, 2020 & 2050
  • Increased Screen Usage Among Children and Growing Risk of Myopia to Drive Gains for Eyewear Marke
  • Digital Device Usage Among Kids, Tweens and Teens
  • Rise in Presbyopes Drives Demand for Progressive Eye Glasses
  • Increase in Digital Time Peaks the Demand for Protective Clear Glasses
  • Share of Mobile Phones of the Total Internet Time: 2014-2020E
  • Percentage of Internet Users Using Mobile Phone Apps by Type
  • Percentage of Time Spent on Mobile Apps by Category for 2019
  • 3D Printing Brings in Personalization of Eyeglasses
  • Advancements in Frame and Lens Technologies to Aid in Betterment of Healthcare Provision
  • Innovations in Reading Glasses
  • Smart Glasses: An Undeniable Win Over Other Hands Free Technologies
  • Global % Share Breakdown of Wearable AR Devices in the Market by Form Factor
  • Select Recent Smart Glass Introductions/Innovations
  • HD Glasses Designed for a Sharper Vision
  • Designer Eyewear: A Hit with the Hip Crowd
  • Celebrity On-Screen, Off-Screen Endorsements Drive Acceptance of Fashionable Eyewear
  • Innovation: Name of the Game for Industry Players
  • Online Exams for Vision: A New Route to Widen Reach
  • Sports Eyewear Market: Growing Need to Protect Vision of Sportspersons to Fuel Demand
  • Sunglasses Segment Continues to Add “Volume” for Eyeglasses Market
  • Innovative Designs and Innovations to Boost Sunglasses Market
  • Changing Lifestyle Drives Market for Sunglasses
  • Eye Protection Needs Fuel Demand for Plano Sunglasses
  • Popular-Priced Sunglasses Score Over Premium Category
  • Growing Popularity of Replica Sunglasses
  • Travel-Retail Sales of Sunglasses Continue to Grow
  • Customized Corrective Lenses Grow In Popularity
  • Premium Lens Market: On the Rise
  • Premium Lenses Market Worldwide - Penetration Rate (%) of Photochromic Lenses in Select Countries for 2019
  • Progressive Lenses Gain in Popularity
  • Demand for Lightweight Frames on the Rise
  • Manufacturers Unfurl Exciting and Contemporary Frames & Lenses for Seniors
  • Growing Consumer Preference for Refractive Surgical Procedures Looms Ominously Over the Eyewear Market
  • Distribution Dynamics
  • Online Retail Growth and Digitization Trends in Eyewear industry
  • Accelerating Prescription Renewal, Promoting Multiple Pair Purchase Vital for Stimulating Sales Growth
  • Upgrades and Multiple Purchases Fuel Growth in Developed Markets
  • Premiumization Trend and Affordable Luxury Aid Market Growth
  • MACRO GROWTH DRIVERS
  • Favorable Demographic Trends Indicate Strong Market Potential
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Aging Population to Drive Demand for Vision Corrective Eyewear
  • World Elderly Population by Region: Percentage of population aged 65 years or over for 2019, 2030, 2050 and 2100
  • Expanding Middle Class Population in Developing Countries Accelerate Growth Prospects
  • Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Generation Z: An Important Demographic for Market Growth
  • Number of Hours Spent on Mobile Phones by Generation Z, Millennials, Generation X Across Select Countries
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • US % Change in Weekly Patient Visits to Optometric Practices: Jan-August 2020 vs 2019
  • US Eye-Care Market: Key Vision Statistics
  • Vision Correction Usage Trends in the US - Percentage of Adult Population Using Vision Correction by Type of Vision Correction Solution
  • Percentage of American Adults Using Any Type of Vision Correction by Age Group (2020)
  • Percentage of American Adults Using Any Type of Vision Correction by Gender (2020
  • US Eyewear Market (2020): Percentage Breakdown of Number of Eyewear Users by Age Group
  • Noteworthy Trends & Growth Drivers
  • Need for Replacements Augurs Well
  • Bifocals: Edged Aside by Progressive Lenses
  • New Raw Materials Challenge Polycarbonate in Lens Manufacture
  • Frames with More Details and Eco-friendly Materials Stay in Trend
  • Higher Health Awareness Levels Drive Sunglass Sales
  • Aging Population: A Significant Market Opportunity
  • US Population Distribution by Age Group
  • Brick and Mortar Stores and Online Retailers Battle for Market Share
  • Penetration Rate (%) of E-commerce Channel in the US Prescription Frames Market for the Years 2015 & 2022
  • Sunglass Market
  • Consumer Profile
  • Polarized Lenses and Premium Products Drive Sunglass Sales
  • Evolving Market Segments Augur Well for Sunglasses Market
  • US Sunglasses Market (2020): Percentage Breakdown of Unit Sales by Distribution Channel
  • Competitive Landscape
  • Market Share of Leading Players in the US Spectacle Lenses Market: 2019
  • Market Share of Leading Players in the US Spectacle Frames Market: 2019
  • Market Share of Leading Players in the US Sunglasses Market: 2019
  • Retail Landscape
  • Market Share of Leading Optical Retailers in the US: 2019
  • US Eyeglass Brands
  • Market Analytics
CANADA
  • Market Overview
  • Sunglasses: A Preferred Fashion Accessory among Canadians
  • Lens Purchases by Type in Canada: 2019
  • Eyeglass Brands in Canada
  • Market Analytics
JAPAN
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Market Overview
  • Distribution Channels
  • Eyeglass Brands in Japan
  • Market Analytics
CHINA
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Visual Correction Requirement in China (2020): Percentage Breakdown of Population Already Using Corrective Products, Requiring Correction, and Without Eyesight Problems
  • Percentage Breakdown of Population Requiring Vision Correction in China by Age Group: 2011 & 2020
  • Fashionable Eyeglasses Make a Mark
  • Chinese Eyeglass Frames Sales by Product Category (2019): Percentage Breakdown of Sales Volumes for Discount/Value, Mass Market, and Luxury & Premium Frames
  • Competitive Scenario
  • Production Scenario
  • Chinese Eyeglasses Market by Scale of Enterprise (2020): Percentage Breakdown of Sales Revenues for Large-scale Enterprises, Medium-scale Enterprises, and Small-scale Enterprises
  • Challenges Facing Chinese Eyewear Industry
  • Eyeglass Brands in China
  • Market Analytics
EUROPE
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Percentage Population Wearing Spectacles by Country: 2019
  • Asia: Major Source for Frames and Glasses
  • Average Replacement Cycle for Frames in Europe by Country: Germany, Spain, France, UK, and Italy
  • Competitive Landscape
  • Market Share of Leading Players in Western Europe Spectacle Lenses Market: 2019
  • Market Share of Leading Players in Western Europe Spectacle Frames Market: 2019
  • Market Share of Leading Players in Western Europe Sunglasses Market: 2019
  • Market Share of Leading Players in Eastern Europe Spectacle Lenses Market: 2019
  • Market Share of Leading Players in Eastern Europe Spectacle Frames Market: 2019
  • Market Analytics
FRANCE
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Market Overview
  • Eyeglass Brands in France
GERMANY
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Market Overview
  • Eyeglass Brands in Germany
ITALY
  • Market Overview
  • Eyeglass Brands in Italy
UNITED KINGDOM
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview
  • Competition Landscape & Distribution Dynamics
  • Eyeglass Brands in the UK
  • Market Analytics
SPAIN
  • Market Overview
RUSSIA
  • Market Overview
REST OF EUROPE
  • Overview of Select Regional Markets
ASIA-PACIFIC
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Competitive Landscape
  • Market Share of Leading Players in Asian Spectacle Lenses Market: 2019
  • Market Share of Leading Players in Asian Sunglasses Market: 2019
AUSTRALIA
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
  • Market Overview
  • Eyewear Brands in Australia
INDIA
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • COVID-19 Impact on Indian Eyewear Market
  • Sales of Filtered and Clear Glasses Surge Amidst COVID-19 Pandemic
  • Needs-Based Purchases Drive Eyewear Market
  • Market Transitions from Utilitarian to High-Quality, Fashionable Eyewear
  • Fashion Consciousness Drives Sales in Sunglasses Market
  • Designer Label Sunglasses Make Gains
  • Young Demography Spurs Growth for Sunglasses
  • Imports Account for Major Share of Optical Products
  • Competitive Landscape
  • Eyeglass Brands in India
  • Market Analytics
SOUTH KOREA
  • Market Overview
REST OF ASIA-PACIFIC
  • Overview of Select Markets
LATIN AMERICA
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINA
  • Market Overview
BRAZIL
  • Market Overview
MEXICO
  • Market Overview
REST OF LATIN AMERICA
MIDDLE EAST
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Market Overview
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Eyeglasses Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Competitive Landscape
IV. COMPETITION
  • Total Companies Profiled: 488

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Carl Zeiss AG
  • De Rigo S.p.A.
  • Essilor International S.A.
  • Hoya Corporation
  • Indo Optical S.L.U.
  • Luxottica Group S.p.A.
  • Oakley Inc.
  • Rodenstock GmbH
  • Safilo Group S.p.A.
  • TEK Optical Canada