Eyewear Market Emerging Trend | By Key Players, Product Type, Application and Region
Rising prevalence of visual impairments is a major factor driving eyewear market revenue growth.
VANCOUVER, BRITISH COLUMBIA, CANADA, July 1, 2024 /EINPresswire.com/ -- The global eyewear market size was USD 169.82 Billion in 2022 and is expected to register a revenue CAGR of 8.1% during the forecast period, according to the latest analysis by Emergen Research.
As per the World Health Organization (WHO), about 2.2 billion people across the globe are affected by either near- or distance vision impairments. Among these cases, approximately 1 billion involve vision issues that might have been preventable or remain unaddressed. Recent data on eye health, as compiled by the International Agency for the Prevention of Blindness, indicates that there are 295 million individuals with moderate-to-severe visual impairments, and 43 million people are classified as blind on a global scale. The rising prevalence of ocular diseases, including conditions such as refractive errors, age-related macular degeneration, cataracts, diabetic retinopathy, glaucoma, amblyopia, strabismus, and others, is a major factor driving the market revenue growth.
Eyewear uncovers the value at which the Eyewear industry is projected to grow during the forecast period. The prime objective of this study is to offer a detailed assessment of the Eyewear business based on type, sector as well as geography. The researchers analysing different elements associated with the business further offer extensive data regarding various factors such as opportunities, drivers, restraints and challenges influencing the growth rate of the Eyewear industry.
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Some Key Highlights From the Report
The premium or high end segment is expected to account for a significantly large revenue share over the forecast period. Factors such as increasing disposable incomes, the impact of social media marketing and influencers, and emergence of e-commerce platforms that have streamlined the process for consumers to discover and purchase high-end fashion products are driving revenue growth of this segment.
Moreover, certain luxury eyewear brands are providing opportunities for personalization, allowing customers to incorporate unique elements, select specific materials, and choose distinct finishes to tailor their eyeglass frames to their tastes. Barton Perreira, for example, offers customization services that empower customers to create bespoke eyewear that reflects their personal preferences. In addition, brands are diversifying their offerings by introducing high-end eyewear collections targeted at specific consumer groups. For instance, on August 21, 2023, Lenskart unveiled its latest eyewear collection designed to fuse style and functionality in the world of K-Pop. The K-Pop Collection, curated by Lenskart Studio, features luxurious acetate eyeglasses distinguished by color-blocked rims, as well as sunglasses characterized by vibrant colors and sleek aesthetics.
Market Drivers:
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
The report also discusses the key players involved in the market such as
Johnson & Johnson Vision, EssilorLuxottica, Fielmann Group AG, De Rigo Spa, Marchon Eyewear, Inc., Safilo Group S.P.A., CooperVision3, Lanvin, Maui Jim, Inc., Bausch & Lomb Incorporated, Apple Inc., Hoya, Zeiss Vision, Alcon, Seiko Optical Products Co., Ltd., Charmant USA Inc., Marcolin Spa, Carrera Eyewear, Rodenstock Gmbh, and Komonoamong among others.
as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
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Market Overview:
The research report on the Eyewear market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Eyewear business sphere.
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Key Objectives of the Report:
Analysis and estimation of the Eyewear market size and share for the projected period of 2024-2032
Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Eyewear market
Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
Regional segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
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