Eyeglasses Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2020-2024

The global eyeglasses market has the potential to grow by USD 41.98 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Carl Zeiss AG, De Rigo Spa, Dolomiti Eyewear, EssilorLuxottica, Fielmann AG, Hoya Corp., Kering SA, Marcolin Spa, Rodenstock GmbH, and Safilo Group Spa.

Market Overview

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Market Competitive Analysis

The eyeglasses market is currently fragmented, and the degree of fragmentation will remain the same during the forecast period. Market vendors are focusing on product innovation and differentiation through functional and technological advances to strengthen their position in the eyeglasses market. Carl Zeiss AG, De Rigo Spa, and Dolomiti Eyewear are some of the major market participants. Though the increasing prevalence of vision disorders will offer immense growth opportunities, the rising demand for contact lenses will challenge the growth of the market participants. To increase their eyeglasses market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this eyeglasses market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this eyeglasses market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading eyeglasses manufacturers, including:

• Carl Zeiss AG
• De Rigo Spa
• Dolomiti Eyewear
• EssilorLuxottica
• Fielmann AG
• Hoya Corp.
• Kering SA
• Marcolin Spa
• Rodenstock GmbH
• Safilo Group Spa

Eyeglasses Market: Segmentation by Region

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Europe was the largest market for eyeglasses in 2019, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. Factors such as rising household income, product advancements by leading vendors, and increasing demand for high-quality healthcare products are some of the significant factors contributing to the eyeglasses market growth in this region.

Over 29% of the market’s growth will originate from Europe during the forecast period. Germany is a key market for eyeglasses in Europe. Market growth in this region will be faster than the growth of the market in North America.

Eyeglasses Market: Segmentation by Distribution Channel

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Offline distribution channels generate revenue from the sales of products through specialty, department, and optical stores. The adoption of innovative marketing strategies such as omni-channel commerce and multi-marketing strategies by vendors will fuel the growth of the eyewear market in this segment.

However, market growth in this segment will be slower than the growth of the market in the online segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the eyeglasses market size.

Eyeglasses Market: Key Drivers and Trends

The increasing prevalence of vision disorders will be a significant factor in driving the growth of the eyeglasses market. Factors such as changing eating habits and high amount of time spent playing video games, watching television, and working on laptops have given rise to various vision disorders among people. A majority of the population across the world suffer from some form of myopia or hypermetropia. The risk of eye diseases such as AMD, diabetic retinopathy, glaucoma, and cataracts also increases with age. The high prevalence of such vision disorders will boost the demand for eyewear products, such as eyeglasses. The growing geriatric population and the associated ocular ailments will further fuel the growth of the eyeglasses market during the forecast period.

• The growing demand for customized and multipurpose eyeglasses has been identified as one of the critical eyeglasses market trends contributing to market growth.
• Customized eyeglasses are designed to cater to the individual needs of the customers.
• For instance, Topology Eyewear offers eyeglasses that can be customized in terms of color, shape, and style.
• Some vendors are also offering multipurpose eyeglasses to expand the range of products available to the customers.
• For instance, frames offered by Polaroid of Safilo Group Spa (Safilo Group) comes with magnetic clips that can turn the eyeglasses into polarized sunglasses with UV protection.
• Such product innovations, coupled with the growing demand for customized sunglasses will drive the growth of the eyeglasses market throughout the next five years.
• During 2020-2024, the eyeglasses market will grow at a CAGR of over 7%.

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Eyeglasses Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the growth of the eyewear market during the next five years
• Precise estimation of the global eyeglasses market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the eyeglasses industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of eyeglasses vendors

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