Eyewear comprises spectacles, lenses and sunglasses worn for the purpose of vision correction or to protect eyes from harmful UV lights and dust particles. Factors such as increasing life span, growing geriatric population and changing fashion trends have fostered the demand for eyewear. Nowadays, consumers wear eyewear not only for vision correction, but also to enhance ones appearance. Changing fashion trends and increasing transition from spectacles to contact lenses have fostered the market growth. Numerous market players are launching innovative spectacles and lenses owing to the technological advancements and availability of lightweight materials.
Eyewear is worn by both men and women, with men segment constituting a dominant share of the market. The women eyewear segment is expected to register a higher growth owing to increase in the number of working women and evolving fashion trends. The different types of eyewear products include spectacles, sunglasses and contact lenses. Among the three mentioned above, prescription glasses/spectacle segment dominates the global eyewear market.
As eyewear is a touch & feel product, individuals prefer retail stores for purchasing eyewear over the online channel. The retail mode of sale segment accounted for 89.7% share of the global eyewear market. However, the online stores are gaining popularity, and would register a significantly higher CAGR in comparison with the retail stores over the forecast period.
The world eyewear market is segmented based on product type, end user, mode of sale and geography. The product type includes prescription glasses/spectacles, sunglasses and contact lenses. End user segment comprises men and women. Whereas, online stores and retail stores are included in mode of sale segment. The report provides an in-depth analysis of the world eyewear market based on the key geographic regions, which include North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). In 2014, North America was the largest revenue-generating region in the world eyewear market.
Prominent companies in the market have adopted various growth strategies, such as acquisition and product launch, to sustain the intense market competition. In 2015, Johnson & Johnson Vision Care, Inc. launched a new contact lens with tear infused design. Johnson & Johnson’s ACUVUE OASYS Brand Contact Lenses 1-Day with HydraLuxe technology provides comfort and clear vision throughout the day. The key companies profiled in the report, include Carl Zeiss AG, Essilor International S.A., GrandVision, Johnson & Johnson, Inc., Safilo Group S.p.A., Prada S.p.A., Luxottica Group S.p.A., Valeant Pharmaceuticals, Cooper Companies, Inc., and Fielmann AG.
World Eyewear market segmentation:
The world eyewear market is segmented based on product type, end user, mode of sale and geography:
Market by Product Type:
Market by End User:
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