The latest research study, “Eyewear Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027” has been added by IMARC Group. The global eyewear market size reached US$ 140 Billion in 2021. Looking forward, the market expects to reach a value of US$ 209.5 Billion by 2027, exhibiting a CAGR of 6.96% during 2022-2027.
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Products worn over the eyes to protect them and enhance vision are referred to as eyewear. These corrective accessories are used for objectives other than vision correction, including as environmental protection and aesthetics. Eyewear products are manufactured in the form of contact lenses, sunglasses, and spectacles. The increasing usage of electronic devices or gadgets has led to the rising prevalence of eye-based ailments. Besides this, aging and prolonged exposure to UV rays have also led to a rise in visual problems amongst consumers of all demographics.
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Global Eyewear Industry Trends:
The growth of the global eyewear market can be attributed to the rising instances of visual impairment, the requirement for vision correction, and rising sales of prescription contact lenses and spectacles. Apart from this, rapid technological advancements have led to a global rise in the usage of smart devices, which is causing several eye problems amongst the young demographic, such as astigmatism, hyperopia and myopia.
Moreover, there has been an escalated demand for designer and trendy eyeglasses and sunglasses amongst consumers to improve their appearance, which is supporting the market growth. Furthermore, governments of several nations are undertaking initiatives for spreading awareness regarding the availability of advanced eye treatment methods, driving the growth of the market further.
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The competitive landscape of the eyewear industry has also been examined, with some of the market players being Luxottica Group S.p.A., Essilor International SAS, Johnson & Johnson Vision Care, Inc., Safilo Group S.p.A. and Alcon Vision LLC.
On the basis of the product, spectacles represent the most popular eyewear product. Other major product types include sunglasses and contact lenses.
Based on gender, unisex eyewear products dominate the market, accounting for majority of the market share. These products are followed by products for women and men.
Based on the distribution channel, the market has been divided into optical stores, independent brand showrooms, online stores and retail stores. Amongst these optical stores represent the most extensive distribution channel.
Region-wise, Europe exhibits a clear dominance in the market. Other major regions are North America, Asia Pacific, Latin America, and Middle East and Africa.
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