Eyewear Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR41065
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The eyewear market has the potential to grow by USD 55.86 billion during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 6.83%.

This eyewear market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (eyeglass, sunglass, and contact lenses) and geography (Europe, North America, APAC, South America, and MEA). The eyewear market report also offers information on several market vendors, including Bausch Health Companies Inc., Carl Zeiss AG, De Rigo Vision Spa, EssilorLuxottica, Fielmann Group, HOYA Corp., Kering SA, Marcolin Spa, Rodenstock GmBH, and Safilo Group Spa among others.

What will the Eyewear Market Size be in 2021?

Eyewear-Market-Market-Size-2020-2025

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Eyewear Market: Key Drivers and Trends

The product innovation and differentiation through functional and technological advances is notably driving the eyewear market growth, although factors such as the presence of counterfeit products may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the eyewear industry get your FREE report sample now.

  • The product innovation and differentiation through functional and technological advances will drive the eyewear market growth.
  • Product innovation, the result of continuous R&D in the industry, helps companies to expand their product portfolio.
  • At present, lenses are being developed with improved optical designs, materials, and enhanced coatings to offer better comfort.
  • Currently, eyeglass frames made of a wide variety of materials with different designs and styles, including wooden and 3D printed items, are available in the market.
  • Contact lenses have been integrated with emerging technologies to develop bionic lenses and other innovative products. 
  • The increasing prevalence of vision disorders will fuel the growth of the eyewear market size.
  • The increasing prevalence of vision disorders among people may be attributed to factors such as changing eating habits, time spent playing video games, watching television, and in front of computers at work and at home.
  • Cataracts are one of the leading causes of vision disorders in the world.
  • With the increase in age, people become more susceptible to eye diseases such as age-related macular degeneration (AMD), diabetic retinopathy, glaucoma, and cataracts. 
  • The high prevalence of eyesight disorders will lead to a significant rise in demand for eyewear during the forecast period.

This eyewear market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Eyewear Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Bausch Health Companies Inc.
  • Carl Zeiss AG
  • De Rigo Vision Spa
  • EssilorLuxottica
  • Fielmann Group
  • HOYA Corp.
  • Kering SA
  • Marcolin Spa
  • Rodenstock GmBH
  • Safilo Group Spa

 

The eyewear market is fragmented and the vendors are deploying growth strategies such as investing aggressively in the development of technologically advanced sunglasses and in marketing campaigns and promotions to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the eyewear market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Eyewear Market?

Eyewear-Market-Market-Share-by-Region-2020-2025

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32% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for eyewear in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.

The rising number of marketing campaigns, promotions, and the launch of new products will facilitate the eyewear market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Product Segments in the Eyewear Market?

Eyewear-Market-Market-Share-by-Product-2020-2025

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The eyewear market share growth by the eyeglass segment will be significant during the forecast period. The eyeglass segment includes eyeglass frames and lenses. The demand for aesthetically appealing frames is growing with the rise in demand for fashion accessories. The prevalence of refractive error is high in Japan, Western Europe, and the US, which will drive the demand for refractive solutions in these geographies. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the eyewear market size.

 

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What are the Key Factors Covered in this Eyewear Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive eyewear market growth during the next five years
  • Precise estimation of the eyewear market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the eyewear industry across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of eyewear market vendors

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Eyewear Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.83%

Market growth 2021-2025

USD 55.86 billion

Market structure

Fragmented

YoY growth (%)

13.03

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

APAC at 32%

Key consumer countries

US, China, Germany, Japan, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Bausch Health Companies Inc., Carl Zeiss AG, De Rigo Vision Spa, EssilorLuxottica, Fielmann Group, HOYA Corp., Kering SA, Marcolin Spa, Rodenstock GmBH, and Safilo Group Spa

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The eyewear market growth will increase by $57.69 billion during 2019-2024.
The eyewear market is expected to grow at a CAGR of 7.55% during 2019-2024.
Technavio has segmented the eyewear market by product (Eyeglass, Sunglass, and Contact lenses) and geographic (Europe, North America, APAC, and South America).
Bausch Health Companies Inc., Carl Zeiss AG, De Rigo Vision Spa, EssilorLuxottica, Fielmann AG, Hoya Corp., Kering SA, Marcolin Spa, Rodenstock GmbH, Safilo Group Spa are a few of the key vendors in the eyewear market.
APAC will register the highest growth rate of 33.03% among the other regions. Therefore, the eyewear market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • US
  • China
  • Germany
  • Japan
  • France
The key factors driving the eyewear market growth are:
  • Product innovation and differentiation through functional and technological advances
  • Adoption of omnichannel distribution system and digital marketing
The eyewear market vendors should focus on grabbing business opportunities from the eyeglass segment as it accounted for the largest market share in the base year.
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