Eyewear Market Size, Share Global Analysis Report, 2020–2026

Industry Insights

[189+ Pages Report] According to the report published by Facts Factors, the global eyewear market size was worth around USD 164.2 billion in 2019 and is predicted to grow to around USD 285 billion by 2026 with a compound annual growth rate (CAGR) of roughly 7.2% between 2020 and 2026. The report analyzes the global eyewear market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the eyewear market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Eyewear industry. The report analyzes and declares the historical and current trends analysis of the eyewear industry and subsequently recommends the projected trends anticipated to be observed in the eyewear market during the upcoming years.

The eyewear market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire eyewear market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the eyewear industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Key Insights from Primary Research

• Extensive interviews with CXO’s of the major companies operating in the global eyewear market, the primary research concludes that the global eyewear market to witness a steady growth of nearly 7.2% over the forecast period.
• In the year 2019, the market was valued at approximately USD 164.2 Billion, in 2019 and is expected to be valued over USD 285 Billion by 2026.
• On the basis of the product type segment, spectacle is expected to continue to occupy significant market share during the forecast period. The spectacle is also expected to witness highest CAGR during the forecast period.
• North America region is expected to be the largest revenue generating region for eyewear over the forecast period. The Asia Pacific region market is expected to exhibit highest growth in the global eyewear market.

Key Recommendations from Analysts

• Our analysts recommend for increased focus towards the Asia Pacific market as it has highest potential for unit wise sale as compared to the European and the North American region. The presence of high populous economies like China and India provides immense potential of growth in the region.
• The strategic developments such as regional expansion and product innovations by the major companies is likely to boom the global eyewear sale over the up-coming years.
• Our analysts recommend that the Asia Pacific region is predicted to witness a significant growth attributed to the growing demand for eyewear from China and India.      
• Rising economic conditions, high disposable incomes and large young population in the Asia Pacific region are anticipated to fuel the eyewear market growth over the foreseeable future.
• The North America and the European region are expected to remain primary source of significant revenue during the studied period. Regional dominance in these regions are expected to provide additional capital capabilities for expansion beyond the borders.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the eyewear industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the eyewear market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the eyewear industry. The eyewear market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the eyewear sector. Key strategic developments in the Eyewear market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the eyewear market are appropriately highlighted in the report.

The growing use of electronic devices by the younger generation such as personal computers, mobile devices and TVs for entertainment have led to rising eye health concerns. The younger generation are actively buying eyewear products due to straining of eyes. Additionally, the changes in prescription by eye clinics have led to increase in sale of eyewear products.

The rising use of eyewear as a fashionable accessory has resulted into growth of premium eyewear sale. The economically sound population are increasing spending towards personal eyewear for projecting their stature.

The eyewear market research report delivers an acute valuation and taxonomy of the eyewear industry by practically splitting the market based on product type, distribution channel and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the eyewear industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the eyewear industry is provided for the leading economies of the world.

The eyewear market is segmented based on product type, distribution channel and region. On the basis of product type segmentation, the market is classified into contact lenses, spectacles and sunglasses. On the basis of distribution channel, the market is bifurcated into ecommerce and brick and mortar.

Report Scope

Some of the leading players in the global market include

• Safilo Group S.p.A
• EssilorLuxottica
• CooperVision
• Bausch + Lomb Inc
• Fielmann AG.

The taxonomy of the eyewear industry by its scope and segmentation is as follows:

By Product Type Segmentation Analysis

• Contact Lenses
• Spectacles
• Sunglasses

By Distribution Channel Segmentation Analysis

• E-Commerce
• Brick and Mortar

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa