The global eyewear market size
is expected to reach USD 184.03 billion by 2024, according to a new report by
Grand View Research, Inc. The increase in aging population and growing
acceptance of eyewear, backed by rising disposable incomes of people worldwide
are expected to play an important role in market growth. Moreover, growing
awareness regarding proper eye health among the consumers is projected to
strengthen the growth prospects over the forecast period.
Vendors are increasingly
adopting innovative distribution channels including strategies such as vertical
integration for organizational growth. The internet retailing has gained
increasing popularity amongst the consumers as it enables them to place online
orders for eyewear at better prices as compared to the conventional brick and
mortar stores.
The increasing awareness
regarding refractive surgeries, such as PRK and LASIK that reduce or eliminate
individual’s dependency on corrective eyeglasses is a major factor impeding the
industry growth. Such procedures are being progressively made affordable for a
large percentage of the population across the developing regions.
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Research :
Further key findings from the report:
·
Spectacles, which comprise frames and
lenses, contributed to over 50% of the global eyewear market volume share in
2015 and are projected to witness stable growth owing to the high replacement
rate of lenses and constantly changing prescriptions. Additionally, the
introduction of progressive and high-index lenses has led to a surge in demand
and is projected to continue over the next eight years.
·
Contact lenses contributed to over 30% of
the global market volume share in 2015 and are poised for steady growth
throughout the next eight years on account of the high degree of awareness
among users coupled with the growing demand for the cosmetic lenses among the
younger population. Moreover, the introduction of innovative easy-to-wear,
cosmetic, and daily disposable lenses has positively impacted the sales of such
products.
·
The European eyewear market was valued at
close to USD 40 billion 2015 and is anticipated to witness steady growth
throughout the forecast period.The presence of key eyeglasses vendors, such as
Safilo Group S.p.A and Luxottica Group S.p.A in the region is anticipated to
boost the regional eyeglasses sales volume in the coming years.The growth
prospects for the Asia Pacific eyewear market seem very bullish owing to
increase in purchasing power among consumers and wearer base expansion across
the region.
·
Market participants are emphasizing
onsupply chain integration,product innovation, and mergers and acquisitions, to
gain a foothold in the industry. Establishment of an effective distribution
network is the key to achieving global market expansion. The key industry
participants include Luxottica Group S.p.A, Safilo Group S.p.A, Fielmann AG,
CooperVision Inc., and Bausch + Lomb Inc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has
segmented the global eyewear market on the basis of productand region:
Eyewear ProductOutlook (Volume, Million Units; Revenue,
USD Million, 2014 - 2024)
·
Contact lenses
·
Spectacles
o Spectacle frames
o Spectacle lenses
·
Plano sunglasses
o By product
o Polarized
o Non-polarized
o By material,
o CR-39
o Polycarbonate
o Polyurethane
o Others
Eyewear Regional Outlook (Volume, Million Units; Revenue,
USD Million, 2014 - 2024)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o UK
o Germany
·
Asia Pacific
o China
o Japan
o India
·
South America
o Brazil
·
MEA
Access
press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-eyewear-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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