+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)

PRINTER FRIENDLY

Eyeglasses - Global Market Trajectory & Analytics

  • ID: 347978
  • Report
  • May 2021
  • Region: Global
  • 841 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Carl Zeiss AG
  • De Rigo S.p.A.
  • Hoya Corporation
  • Indo Optical S.L.U.
  • Luxottica Group S.p.A.
  • Oakley Inc.

Global Eyeglasses Market to Reach $197.2 Billion by 2027

Amid the COVID-19 crisis, the global market for Eyeglasses estimated at US$139.9 Billion in the year 2020, is projected to reach a revised size of US$197.2 Billion by 2027, growing at a CAGR of 5% over the analysis period 2020-2027. 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 an early 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.

The U.S. Market is Estimated at $39.4 Billion, While China is Forecast to Grow at 7.2% CAGR

The Eyeglasses market in the U.S. is estimated at US$39.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.8 Billion by the year 2027 trailing a CAGR of 7.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Sunglasses Segment to Record 4.5% CAGR

In the global Sunglasses segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$31.6 Billion in the year 2020 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$28.4 Billion by the year 2027, 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
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Carl Zeiss AG
  • De Rigo S.p.A.
  • Hoya Corporation
  • Indo Optical S.L.U.
  • Luxottica Group S.p.A.
  • Oakley Inc.

I. METHODOLOGY

II. 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
  • Exhibit 1: Percentage Change in Weekly Eye Exams, in the US, January - August: 2020 vs 2019
  • Exhibit 2: 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
  • Exhibit 3: Number of People Requiring Vision Correction Worldwide in Billion for the Years 2015, 2020 and 2030
  • Exhibit 4: World Population with Myopia and High Myopia in Millions: 2000-2030
  • Exhibit 5: Number of People Affected by Select Eye Conditions: 2019
  • Exhibit 6: Percentage People with Unaddressed Presbyopia by Region
  • Analysis by Geographic Region
  • Analysis by Product Segment
  • Eyeglasses Continue to Face Strong Competition from Contact Lenses
  • Exhibit 7: Global Vision Correction Market Breakdown (in %) by Category for 2020E
  • Competitive Landscape
  • Exhibit 8: Market Share of Leading Players in the Global Spectacle Lenses Market: 2019
  • Exhibit 9: Market Share of Leading Players in the Global Spectacle Frames Market: 2019
  • Exhibit 10: Market Share of Leading Players in the Global Sunglasses Market: 2019
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Popular Eyewear Trends for 2020
  • Rise in Myopia Rate to Benefit Demand for Eyeglasses
  • Exhibit 11: Percentage of Population with Myopia: 2000, 2010, 2020, 2030, 2040, & 2050
  • Exhibit 12: 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 Market
  • Exhibit 13: 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
  • Exhibit 14: Share of Mobile Phones of the Total Internet Time: 2014-2020E
  • Exhibit 15: Percentage of Internet Users Using Mobile Phone Apps by Type
  • Exhibit 16: 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
  • Exhibit 17: 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
  • Exhibit 18: 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
  • Exhibit 19: World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Aging Population to Drive Demand for Vision Corrective Eyewear
  • Exhibit 20: 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
  • Exhibit 21: 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
  • Exhibit 22: Number of Hours Spent on Mobile Phones by Generation Z, Millennials, Generation X Across Select Countries

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

UNITED STATES

  • Market Overview
  • Exhibit 23: US % Change in Weekly Patient Visits to Optometric Practices: Jan-August 2020 vs 2019
  • US Eye-Care Market: Key Vision Statistics
  • Exhibit 24: Vision Correction Usage Trends in the US - Percentage of Adult Population Using Vision Correction by Type of Vision Correction Solution
  • Exhibit 25: Percentage of American Adults Using Any Type of Vision Correction by Age Group (2020)
  • Exhibit 26: Percentage of American Adults Using Any Type of Vision Correction by Gender (2020
  • Exhibit 27: 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
  • Exhibit 28: US Population Distribution by Age Group
  • Brick and Mortar Stores and Online Retailers Battle for Market Share
  • Exhibit 29: 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
  • Exhibit 30: US Sunglasses Market (2020): Percentage Breakdown of Unit Sales by Distribution Channel
  • Competitive Landscape
  • Exhibit 31: Market Share of Leading Players in the US Spectacle Lenses Market: 2019
  • Exhibit 32: Market Share of Leading Players in the US Spectacle Frames Market: 2019
  • Exhibit 33: Market Share of Leading Players in the US Sunglasses Market: 2019
  • Retail Landscape
  • Exhibit 34: 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
  • Exhibit 35: Lens Purchases by Type in Canada: 2019
  • Eyeglass Brands in Canada
  • Market Analytics

JAPAN

  • Market Overview
  • Distribution Channels
  • Eyeglass Brands in Japan
  • Market Analytics

CHINA

  • Market Overview
  • Exhibit 36: Visual Correction Requirement in China (2020): Percentage Breakdown of Population Already Using Corrective Products, Requiring Correction, and Without Eyesight Problems
  • Exhibit 37: Percentage Breakdown of Population Requiring Vision Correction in China by Age Group: 2011 & 2020
  • Fashionable Eyeglasses Make a Mark
  • Exhibit 38: 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
  • Exhibit 39: 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

  • Market Overview
  • Exhibit 40: Percentage Population Wearing Spectacles by Country: 2019
  • Asia: Major Source for Frames and Glasses
  • Exhibit 41: Average Replacement Cycle for Frames in Europe by Country: Germany, Spain, France, UK, and Italy
  • Competitive Landscape
  • Exhibit 42: Market Share of Leading Players in Western Europe Spectacle Lenses Market: 2019
  • Exhibit 43: Market Share of Leading Players in Western Europe Spectacle Frames Market: 2019
  • Exhibit 44: Market Share of Leading Players in Western Europe Sunglasses Market: 2019
  • Exhibit 45: Market Share of Leading Players in Eastern Europe Spectacle Lenses Market: 2019
  • Exhibit 46: Market Share of Leading Players in Eastern Europe Spectacle Frames Market: 2019
  • Market Analytics

FRANCE

  • Market Overview
  • Eyeglass Brands in France

GERMANY

  • Market Overview
  • Eyeglass Brands in Germany

ITALY

  • Market Overview
  • Eyeglass Brands in Italy

UNITED KINGDOM

  • 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

  • Market Overview
  • Competitive Landscape
  • Exhibit 47: Market Share of Leading Players in Asian Spectacle Lenses Market: 2019
  • Exhibit 48: Market Share of Leading Players in Asian Sunglasses Market: 2019

AUSTRALIA

  • Market Overview
  • Eyewear Brands in Australia

INDIA

  • 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

ARGENTINA

  • Market Overview

BRAZIL

  • Market Overview

MEXICO

  • Market Overview

REST OF LATIN AMERICA

MIDDLE EAST

  • Market Overview

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

  • Competitive Landscape

IV. COMPETITION

  • Total Companies Profiled: 488
Note: Product cover images may vary from those shown
  • 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
Note: Product cover images may vary from those shown
Adroll
adroll