Dublin, July 16, 2021 (GLOBE NEWSWIRE) -- The "Eyeglasses - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Eyeglasses Market to Reach $197.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Eyeglasses estimated at US$139.9 Billion in the year 2020, is projected to reach a revised size of US$197.2 Billion by 2027, growing at a CAGR of 5% over the analysis period 2020-2027.
Lenses, one of the segments analyzed in the report, is projected to record a 4.8% CAGR and reach US$76.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Frames segment is readjusted to a revised 5.8% CAGR for the next 7-year period.
Sunglasses Segment to Record 4.5% CAGR
In the global Sunglasses segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$31.6 Billion in the year 2020 will reach a projected size of US$41.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$28.4 Billion by the year 2027, while Latin America will expand at a 5% CAGR through the analysis period.
The U.S. Market is Estimated at $39.4 Billion, While China is Forecast to Grow at 7.2% CAGR
The Eyeglasses market in the U.S. is estimated at US$39.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$21.8 Billion by the year 2027 trailing a CAGR of 7.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Eyewear Market Amid the COVID-19 Pandemic
- COVID-19 Unleashes New Technology Era for Eye Care Industry
- Heightened Focus on Safety & Hygiene Presents Lucrative Avenues for Eyewear Brands
- COVID-19 to Galvanize Transition from Contact Lenses toward Eyeglasses
- Online Sales of Eyewear Products Surge Amidst the COVID-19 Pandemic
- Eyewear Retailers Bet on Virtual Try-Ons
- DTC Glasses & Contacts Brands Tap Work-from-Home Trend amid COVID-19 for Enviable Gains
- Eyeglasses: An Introduction
- Product Overview
- Lenses
- Frames
- Sunglasses
- Eye Health Awareness: A Critical Factor to Growth
- Outlook
- Prevalence of Visual Impairments Fuels Demand for Eyeglasses
- Vision Facts, Figures and Opportunities
- Analysis by Geographic Region
- Analysis by Product Segment
- Eyeglasses Continue to Face Strong Competition from Contact Lenses
- Competitive Landscape
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 488 Featured)
- Carl Zeiss AG
- De Rigo S.p.A.
- Essilor International S.A.
- Hoya Corporation
- Indo Optical S.L.U.
- Luxottica Group S.p.A.
- Oakley Inc.
- Rodenstock GmbH
- Safilo Group S.p.A.
- TEK Optical Canada
3. MARKET TRENDS & DRIVERS
- Popular Eyewear Trends for 2020
- Rise in Myopia Rate to Benefit Demand for Eyeglasses
- Increased Screen Usage Among Children and Growing Risk of Myopia to Drive Gains for Eyewear Market
- Rise in Presbyopes Drives Demand for Progressive Eye Glasses
- Increase in Digital Time Peaks the Demand for Protective Clear Glasses
- 3D Printing Brings in Personalization of Eyeglasses
- Advancements in Frame and Lens Technologies to Aid in Betterment of Healthcare Provision
- Innovations in Reading Glasses
- Smart Glasses: An Undeniable Win Over Other Hands Free Technologies
- Select Recent Smart Glass Introductions/Innovations
- HD Glasses Designed for a Sharper Vision
- Designer Eyewear: A Hit with the Hip Crowd
- Celebrity On-Screen, Off-Screen Endorsements Drive Acceptance of Fashionable Eyewear
- Innovation: Name of the Game for Industry Players
- Online Exams for Vision: A New Route to Widen Reach
- Sports Eyewear Market: Growing Need to Protect Vision of Sportspersons to Fuel Demand
- Sunglasses Segment Continues to Add "Volume" for Eyeglasses Market
- Innovative Designs and Innovations to Boost Sunglasses Market
- Changing Lifestyle Drives Market for Sunglasses
- Eye Protection Needs Fuel Demand for Plano Sunglasses
- Popular-Priced Sunglasses Score Over Premium Category
- Growing Popularity of Replica Sunglasses
- Travel-Retail Sales of Sunglasses Continue to Grow
- Customized Corrective Lenses Grow In Popularity
- Premium Lens Market: On the Rise
- Progressive Lenses Gain in Popularity
- Demand for Lightweight Frames on the Rise
- Manufacturers Unfurl Exciting and Contemporary Frames & Lenses for Seniors
- Growing Consumer Preference for Refractive Surgical Procedures Looms Ominously Over the Eyewear Market
- Distribution Dynamics
- Online Retail Growth and Digitization Trends in Eyewear industry
- Accelerating Prescription Renewal, Promoting Multiple Pair Purchase Vital for Stimulating Sales Growth
- Upgrades and Multiple Purchases Fuel Growth in Developed Markets
- Premiumization Trend and Affordable Luxury Aid Market Growth
- MACRO GROWTH DRIVERS
- Favorable Demographic Trends Indicate Strong Market Potential
- Aging Population to Drive Demand for Vision Corrective Eyewear
- Expanding Middle Class Population in Developing Countries Accelerate Growth Prospects
- Generation Z: An Important Demographic for Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
UNITED STATES
- Market Overview
- US Eye-Care Market: Key Vision Statistics
- Noteworthy Trends & Growth Drivers
- Need for Replacements Augurs Well
- Bifocals: Edged Aside by Progressive Lenses
- New Raw Materials Challenge Polycarbonate in Lens Manufacture
- Frames with More Details and Eco-friendly Materials Stay in Trend
- Higher Health Awareness Levels Drive Sunglass Sales
- Aging Population: A Significant Market Opportunity
- Brick and Mortar Stores and Online Retailers Battle for Market Share
- Sunglass Market
- Consumer Profile
- Polarized Lenses and Premium Products Drive Sunglass Sales
- Evolving Market Segments Augur Well for Sunglasses Market
- Competitive Landscape
- Retail Landscape
- US Eyeglass Brands
- Market Analytics
CANADA
- Sunglasses: A Preferred Fashion Accessory among Canadians
JAPAN
CHINA
- Market Overview
- Fashionable Eyeglasses Make a Mark
- Competitive Scenario
- Production Scenario
- Challenges Facing Chinese Eyewear Industry
- Eyeglass Brands in China
EUROPE
- Competitive Landscape
- Asia: Major Source for Frames and Glasses
FRANCE
GERMANY
ITALY
UNITED KINGDOM
- Market Overview
- Competition Landscape & Distribution Dynamics
- Eyeglass Brands in the UK
- Market Analytics
SPAIN
RUSSIA
REST OF EUROPE
- Overview of Select Regional Markets
ASIA-PACIFIC
- Market Overview
- Competitive Landscape
AUSTRALIA
- Market Overview
- Eyewear Brands in Australia
INDIA
- COVID-19 Impact on Indian Eyewear Market
- Sales of Filtered and Clear Glasses Surge Amidst COVID-19 Pandemic
- Needs-Based Purchases Drive Eyewear Market
- Market Transitions from Utilitarian to High-Quality, Fashionable Eyewear
- Fashion Consciousness Drives Sales in Sunglasses Market
- Designer Label Sunglasses Make Gains
- Young Demography Spurs Growth for Sunglasses
- Imports Account for Major Share of Optical Products
- Competitive Landscape
- Eyeglass Brands in India
- Market Analytics
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
IV. COMPETITION
- Total Companies Profiled: 488
For more information about this report visit https://www.researchandmarkets.com/r/o6vfk