The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s eyewear market report forecasts the eyewear market size to grow to $188.25 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Eyewear Market Report 2023 – https://www.thebusinessresearchcompany.com/report/eyewear-global-market-report

Eyewear Market Size Forecast
The global eyewear market is expected to grow from $129.77 billion in 2022 to $139.88 billion in 2023 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The eyewear market size is expected to grow to $188.25 billion in 2027 at a CAGR of 7.7%.

North America held the largest eyewear market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Eyewear Market Driver ­– Increase In Cases Of Deteriorating Eye Health
For instance, according to a news release in October 2021 by the World Health Organization (WHO), at least 1 billion people worldwide have near or distant visual impairment that could be prevented or has yet to be addressed. Vision impairment majorly affects people over the age of 50 and the leading causes are untreated cataracts and uncorrected refractive error. Therefore, the increasing cases of deteriorating eye health is expected to boost demand for eyewear during forecast period.

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

Key Eyewear Market Trend – Technological Advancement
Technological advancements in eyewear such as smart glasses are gaining traction in the market. Smart glass refers to a gadget that places a computer screen/display in front of a person’s eyes using appropriate technology to convey data from a background information system. The display can be shown/reflected on the lens of glasses or delivered to the eyesight as a separate component. The smart glasses also come with other smart features such as Bluetooth connectivity, open ear speakers, a fitness tracker, and others. These have a modular design and provide functionalities for convenience and ease for users. The key market players are focusing on offering smart glasses to strengthen their market position. For instance, in January 2022, Titan, an Indian luxury products company introduced its new smart glasses Titan EyeX. Open-ear speakers, touch controls, and fitness tracking systems are the intriguing features of Titan EyeX smart glasses. The Bluetooth v5.2-enabled wearable is compatible with Android and iOS smartphones. The product also includes an inbuilt fitness tracker and is dust and water-resistant. The smart glasses’ open-ear speakers also enable voice navigation and warnings during heavy use.

Eyewear Market Segment
1) By Product: Contact Lenses, Spectacles, Sunglasses
2) By Gender: Men, Women, Unisex
3) By Distribution Channel: Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores

Eyewear Market Major Players and Strategies
Major players in the eyewear market are Luxottica Group SpA, Essilor International, Zeiss International, Johnson & Johnson Vision Care Inc., Bausch & Lomb Inc., Marchon Eyewear Inc., Fielmann AG, HOYA Corporation, De Rigo SpA, Alcon Vision LLC, GKB Opticals Limited, Titan Company Limited, Lenskart Solutions Private Limited, Ronak Optik Private Limited, Prada SpA, and Rayban Sun Optics India Private Limited.

In March 2022, Kering Eyewear, an Italy-based luxury eyewear company announced an agreement to acquire Maui Jim Inc for an undisclosed amount. This acquisition is seen as a significant milestone in the company’s overall expansion plan, which intends to solidify the label as a prominent high-end eyewear brand. Maui Jim Inc is a US-based sunglasses manufacturing company.

The Eyewear Global Market Report 2023 covers regional data on eyewear market size, eyewear market trends and drivers, opportunities, strategies, and eyewear market competitor analysis. The countries covered in the eyewear market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Eyewear refers to devices and accessories worn on the eyes to protect or improve the vision or eyesight. Eyewear is also used as an accessory for fashion or beautification. Spectacles, sunglasses, goggles, and contact lenses are some of the most commonly used eyewear.

View More Reports Related To The Eyewear Market –
Vision Care Devices And Equipment Global Market Report 2023
Optical Instrument And Lens Global Market Report 2023
Dry Eye Medication Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: