Dublin, July 12, 2022 (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.
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.
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.
Select Competitors (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
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Eyewear Market Amid the COVID-19 Pandemic
- Percentage Change in Weekly Eye Exams, in the US, January - August: 2020 vs 2019
- Percentage Change in Weekly Sales of Lenses in the US, January - August: 2020 vs 2019
- 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
2. FOCUS ON SELECT PLAYERS
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
- Premium Lenses Market Worldwide - Penetration Rate (%) of Photochromic Lenses in Select Countries for 2019
- Progressive Lenses Gain in Popularity
- Demand for Lightweight Frames on the Rise
4. GLOBAL MARKET PERSPECTIVE
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/2e2vsn
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