The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

The eyewear market has experienced significant growth in recent years and is set to continue expanding. This blog delves into the current state, driving factors, future projections, and emerging trends shaping this dynamic industry.

Current Market Overview

Strong Market Growth

• Market Size: The eyewear market grew from $146.08 billion in 2023 to $162.66 billion in 2024, marking a robust CAGR of 11.4%.
• Key Drivers:
  • Fashion and Style Trends: Eyewear as a fashion accessory.
  • Increasing Vision Problems: Rising incidence of vision impairment and eye diseases.
  • Awareness of UV Protection: Growing knowledge about the harmful effects of UV rays on eyes.
  • Celebrity Endorsements: Influences from celebrities driving brand popularity.
  • Aging Population: Higher demand for vision correction among the elderly.

Future Market Projections

Promising Growth Ahead

• Projected Market Size: Expected to reach $244.24 billion by 2028, with a CAGR of 10.7%.
• Growth Factors:
  • Innovation in Smart Eyewear: Development of smart glasses and other high-tech eyewear.
  • Eco-friendly Practices: Increasing focus on sustainable and environmentally friendly products.
  • Globalization and Market Expansion: Entry into new markets and wider global reach.
  • Personalization and Customization: Tailored eyewear solutions to meet individual preferences.
  • Online Try-on Services: Enhanced online shopping experiences with virtual try-on technologies.

View More On The Eyewear Market Report 2024 – https://www.thebusinessresearchcompany.com/report/eyewear-global-market-report

Emerging Trends

• Digital Eye Strain Awareness: Rising awareness about eye strain from digital devices.
• Technological Advancements: Integration of advanced technologies in eyewear products.
• Sustainable Eyewear: Growing demand for products made from sustainable materials.
• E-commerce Dominance: Increasing sales through online platforms.
• Blue Light Filtering Technology: Products designed to reduce blue light exposure from screens.

Impact of Eye Health on Market Growth

Surge in Eye Health Issues

• Increasing Eye Problems: Growing prevalence of eye conditions such as age-related macular degeneration, cataracts, and diabetic retinopathy.
• WHO Statistics: As of October 2021, at least 1 billion people globally suffer from preventable or unaddressed visual impairment.
• Role of Eyewear: Essential in correcting vision issues and preventing further deterioration.
• Example: Rising cases of eye health issues are driving the demand for corrective eyewear solutions.

Key Players in the Market

Leading Companies

Major companies in the eyewear market include:

• Silhouette International Schmied AG
• LVMH Moët Hennessy Louis Vuitton SE
• Essilor International S.A.
• Carl Zeiss AG
• Alcon Vision LLC
• Italia Independent Group S.p.A.
• Fielmann AG
• Safilo Group S.p.A.
• Kering Eyewear
• Marchon Eyewear Inc.
• Rodenstock GmbH
• TAG Heuer SA
• De Rigo Vision S.p.A.
• Marcolin S.p.A.
• Oakley Inc.

Technological Advancements

Innovations in Eyewear

• Smart Glasses: Combining eyewear with advanced technology for enhanced functionality.
  • Features: Bluetooth connectivity, open-ear speakers, fitness tracking, and modular design.
  • Example: Titan EyeX, introduced by Titan in January 2022, offers features like open-ear speakers, touch controls, fitness tracking, and water resistance.

Strategic Acquisitions

• Kering Eyewear Acquiring Maui Jim:
  • Date: March 2022.
  • Objective: Strengthen Kering’s position in the luxury eyewear market.
  • Impact: Enhances brand portfolio and market reach.

Market Segmentation

Diverse Product Range

• By Product: Contact Lenses, Spectacles, Sunglasses.
• By Gender: Men, Women, Unisex.
• By Distribution Channel: Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores.

Geographic Insights

• Largest Market: North America led the market in 2023.
• Fastest-Growing Region: Asia-Pacific expected to see the highest growth during the forecast period.

In conclusion, the eyewear market is poised for substantial growth, driven by rising eye health issues, technological innovations, and evolving consumer preferences. As awareness about eye health increases and new technologies emerge, the market is set to expand, offering diverse and innovative solutions for consumers worldwide.

Request A Sample Of The Global Eyewear Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=6910&type=smp