Eyewear Market to be Worth $215.5 Billion by 2031

Eyewear Market Size, Share, Forecast, & Trends Analysis by Type (Contact Lenses [Soft, Rigid, Disposable], Sunglasses, Spectacles [Polarized, Multifocal, Sports]), Coating (Tinted, UV, Anti-reflective) Frame (Rimmed, Frameless) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Eyewear Market Size, Share, Forecast, & Trends Analysis by Type (Contact Lenses [Soft, Rigid, Disposable], Sunglasses, Spectacles [Polarized, Multifocal, Sports]), Coating (Tinted, UV, Anti-reflective) Frame (Rimmed, Frameless) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the global eyewear market is projected to reach $215.5 billion by 2031, at a CAGR of 4.2% from 2024 to 2031. The growth of this market is driven by the increasing prevalence of eye disorders and visual impairment, increase in screen time, increasing awareness about eye safety and protection, rising preference for trendy eyewear, the emergence of prescription eyewear, influence of social media on fashion choices, growing adoption of e-commerce, and health insurance coverage for eye care services. However, the increasing adoption of vision correction methods such as laser eye surgery and the high cost associated with premium eyewear restrain the market growth.

Furthermore, innovations in eyewear material, coating, and lens designs are expected to offer growth opportunities. However, concerns related to the disposal of old eyewear and rapidly changing fashion trends are major hindrances to the market’s growth. 3D-printed eyewear, frames with fitness trackers, open-ear speakers, Bluetooth, and customized eyeglasses are trends in the eyewear market.

The key players operating in the global eyewear market are Safilo Group SpA (Italy), EssilorLuxottica SA (France), Fielmann Group AG (Germany), Johnson & Johnson Vision Care, Inc. (U.S), Carl Zeiss AG (Germany), De Rigo Vision SpA (Italy), Hoya Corporation (Japan), Marchon Eyewear, Inc., Alcon Inc. (Switzerland), Appier Inc. (Tokyo), The Cooper Companies, Inc. (U.S.), and Warby Parker Inc. (U.S).

Eyewear Market: Future Outlook

The global Eyewear Market is segmented by Type (Contact Lenses [Soft Contact Lenses, Rigid Gas Permeable Contact Lenses (RGP), Extended Wear Contact Lenses, Disposable Contact Lenses], Spectacles [Type { Prescription Spectacles, Non-prescription Spectacles}, Glass Lenses Type {Polarized Lenses, Multi-focal Lenses [Single Vision Lenses, Bifocal Lenses, Trifocal Lenses, Progressive Lenses] High-index Lenses, Photochromatic Lenses, Sports Lenses, Digital Lenses}, By Frame Type [Full-rimmed Frames, Rimless Frames, Semi-rimless Frames, Low-bridge Frames], Sunglasses (Type [Plano, Powered], Sunglass Lenses Type [High Index Plastic Lenses, Glass Lenses, Polycarbonate Lenses, Polarized Lenses, Photochromic Lenses]), Frame Type [Full-rimmed Frames, Rimless Frames, Semi-Rimless Frames, Low Bridge Frames]), Coating Type (Anti-reflective Coating, Scratch Resistant Coating, UV Protective Coating, Mirror Coating, Anti-fog Coating, Tinted Lenses, Blue-blocker Lenses), By Material (Plastic, Metal, Glass, Silicon Hydrogel, Other Materials), Application (Vision Correction, Sports, Gamming, Safety and Occupational, Other Application), Age (Adult, Children), Distribution Channel (Online/E-commerce, Retail), End User (Male, Female, Unisex) and Geography. The study also evaluates industry competitors and analyzes the market at the global and regional levels.

Among all the types studied in this report, in 2024, the spectacles segment is expected to account for the largest share of the eyewear market. The spectacles segment is further categorized based on type, glass lenses, and frame type. The largest share of this segment is attributed to increasing cases of vision disorders, the aging population, increasing screen time, and changing consumer preferences for high-quality eyewear lenses. For instance, according to the Statistics Netherlands (CBS) report of September 2023, in 2022, approximately 62 percent of the Dutch population aged four years and overwore glasses occasionally.

Among all the coating types studied in this report, in 2024, the anti-reflective coating segment is expected to account for the largest share of the eyewear market. The largest share of the segment is attributed to its advantages, such as increased vision clarity, reduced blue light exposure, protect eyes from UV rays, and reduce bothersome reflections, glare, and halos. Anti-reflective coatings protect glasses against scratches and smudges, resulting in lenses that last longer. They also prevent oil, water, and dirt from sticking to lenses, making them easier to clean. This additional lens protection helps extend the life of lenses, supporting its largest adoption.

Among all the materials studied in this report, in 2024, the plastic segment is expected to account for the largest share of the eyewear market. The largest share of this segment is attributed to the availability of durable and stylish plastic frames and an extensive range of plastic frames from eyewear brands. Additionally, plastic glasses, also known as organic glasses used for sports and children, are light and comfortable, highly break-resistant, and are the first choice for those who prefer colored lenses as an accessory.

Among all the applications studied in this report, in 2024, the vision correction segment is expected to account for the largest share of the eyewear market. The largest share of the segment is attributed to increasing vision problems, increasing screen time among all age groups, and increasing cases of myopia, hyperopia, and astigmatism. The daily screen time has increased by approximately 50 minutes per day since 2013. (Source: Exploding Topics).

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Netherlands, Switzerland, Sweden, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East & Africa.

Among all regions studied in this report, Asia-Pacific is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the increasing geriatric population in countries such as China and India, the emerging markets adopting advanced eyewear products, and the rising awareness about the benefits offered by eyewear for personal and professional use. Additionally, rising disposable income among the youth in the region and the adoption of eyewear for fashion purposes are some of the trends in the market.

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Key Questions Answered in the Report:

Which are the high-growth market segments in terms of type, coating, material, application, age, distribution channel, end user, and geography?
What was the historical market size for eyewear globally?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the global eyewear market?
Who are the major players in the global eyewear market?
What is the competitive landscape like, and who are the market leaders in the global eyewear market?
What are the recent developments in the global eyewear market?
What are the different strategies adopted by the major players in the global eyewear market?
What are the geographical trends and high growth regions/countries?

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