U.S. Optical Industry Grows to $68.3 Billion, According to The Vision Council’s New Market inSights Report

/EIN News/ -- Alexandria, Virginia, Jan. 23, 2025 (GLOBE NEWSWIRE) -- The Vision Council today released its latest Market inSights report that comprehensively analyzes U.S. optical industry performance during 2024. Built on sophisticated analytics and multiple data sources, the report offers multi-layered visibility into market outcomes, consumer behavior, and emerging trends.

“More than 240 million adults in the United States, or 92 percent of the population, regularly use some form of eyewear, demonstrating the essential role of optical products in daily life,” said Alysse Henkel, Vice President of Research and inSights. “The Vision Council’s 2024 Market inSights report demonstrates our commitment to providing a range of stakeholders with the actionable intelligence they need to understand industry dynamics and make more informed business decisions.”

Key findings for 2024 include:

• Total Market Value – The optical industry achieved a total market value of $68.3 billion, growing 2.7 percent from 2023. Glasses lenses led the prescription category at $17.2 billion and plano sunglasses dominated the non-prescription category at $17.8 billion in sales.​
• Consumer Spending – Following a market surge in 2022 due in part to stimulus spending and post-pandemic demand, consumer spending exhibited continued stability. Year-over-year declines across several product categories reflected a shift toward more conversative consumer behavior and budget-friendly eyewear.
• Retail Dynamics – The market remained driven by in-person shopping, though online sales continued to play a critical role. These were particularly notable for products such as contact lenses and plano sunglasses, which saw 39 percent and 32 percent of their sales originate from online sources, respectively.​
• Future Outlook – Looking ahead to 2025, budget-conscious purchasing is expected to continue to influence the market mix. With the current economic climate demonstrating uncertainty, The Vision Council will be closely monitoring how the optical industry responds to emerging business policies.

The report combines transaction data analysis, retail location data, and consumer surveys to deliver authoritative and detailed insights across all major optical categories: exams, frames, lenses, contact lenses, plano sunglasses, and readers.

Product category findings include:

• Eye exams increased in both value and volume, three percent and one percent, respectively.
• All types of prescription-related sales experienced a small decrease (five percent or less) in both value and volume.
• Plano sunglasses led non-prescription sales with a notable increase in value of 15 percent and an eight percent increase in volume. While reading glasses saw a six percent volume increase, overall sales value declined two percent, likely due to increased consumer purchases of budget and bulk pairs.

Unlock the complete industry analysis and detailed forecasts in the full 2024 Market inSights report. Members of The Vision Council can access this comprehensive resource immediately at no cost through their Member Portal, while non-members can purchase the report directly here for $3,500.

The full report includes:

1. Market value and volume of exams, frames, lenses, contact lenses, plano sunglasses and readers
2. Number of people using each product in the U.S.
3. An industry forecast for 2025

For more information about the Market inSights report or The Vision Council's research program, visit thevisioncouncil.org.

 

About The Vision Council

The Vision Council brings the power of sight to all through education, government relations, research, and technical standards. A leading advocate for the optical industry, the association positions its members to deliver the eyewear and eyecare people need to look and feel their best. Vital to health, independence and safety, better vision leads to better lives.

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• Market inSights 2024 At a Glance

Chelsea Pillsbury
                    The Vision Council
                    media@thevisioncouncil.org