DUBLIN–(BUSINESS WIRE)–Mar 8, 2019–The “Eyewear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The global eyewear market was worth US$ 120 Billion in 2018, registering a CAGR of 3.4% during 2011-2018. The market is further projected to cross US$ 141 Billion by 2024, at a CAGR of 2.6% during 2019-2024.
Currently, the global demand for good-quality eyewear products is being augmented by increasing prevalence of hypermetropia and myopia at young ages. In developing nations, improving lifestyles, urbanization and availability of advanced eyewear products are positively impacting the market growth. On the other hand, increasing exports and product innovations are supporting eyewear market across developed regions.
At present, both government and non-government organizations are conducting campaigns and programs to spread awareness about the treatments available for eyesight problems. Increasing awareness amongst consumers act as a primary factor for the growth of the eyewear market.
With an increase in eye-related diseases like cataract, there has been a substantial rise in the demand for prescription-based eyeglasses. Moreover, changing fashion trends have prompted manufacturers to introduce improved optical designs, materials, and enhanced coatings.
The demand for eyewear products can be attributed to a rise in the cases of computer vision syndrome (CVS) which is caused by prolonged exposure to a computer or other display device. The occurrence of this disorder is generally noted in the working population experiencing dry, red eyes, blurred vision, eye irritation, headache and double vision.
In order to uplift their social status, consumers prefer to purchase high-end eyewear products. In addition, improving purchasing power of consumers in the emerging markets has enabled them to buy premium products which is further elevating the growth of the global eyewear market.
Breakup by Product:
Spectacles represent the most commonly owned eyewear product, accounting for around three-fourths of the total market share. Technological advancements and increasing dependence upon gadgets and electronic devices have led to a rise in eyesight disorders, thereby resulting in an increased demand for spectacles.
Breakup by Gender:
Currently, unisex eyewear products are the leading segment and account for a share of two-thirds of the total market. Generally, sunglasses are more popular in unisex styles as compared to regular prescription eyeglasses.
Breakup by Distribution Channel:
Amongst these, retail stores represent the most common distribution channel as they offer both branded and generic eyewear products, depending upon the purchasing power of the consumers.
On a geographical front, Europe represents the biggest eyewear market, accounting for the majority of the total market share. This can be accredited to growing preference for premium eyewear products as well as rising focus of manufacturers on the development of new designs, shapes and sizes of eyewear products.
The global eyewear market is fragmented in nature with the presence of several small and large manufacturers. Some of the leading players operating in the market are:
2 Scope and Methodology
2.1 Objectives of the Study
2.3 Data Sources
2.4 Market Estimation
2.5 Forecasting Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Eyewear Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Product
5.4 Market Breakup by Gender
5.5 Market Breakup by Distribution Channel
5.6 Market Breakup by Region
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.10 Porters Five Forces Analysis
6 Market Breakup by Product
6.3 Contact lenses
7 Market Breakup by Gender
8 Market Breakup by Distribution Channel
8.1 Optical Stores
8.2 Independent Brand Showrooms
8.3 Online Stores
8.4 Retail Stores
9 Market Breakup by Region
9.2 North America
9.3 Asia Pacific
9.4 Middle East and Africa
9.5 Latin America
10 Eyewear Manufacturing Process
10.1 Product Overview
10.2 Raw Material Requirements
10.3 Manufacturing Process
10.4 Key Success and Risk Factors
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.3 Johnson & Johnson Vision Care
For more information about this report visit https://www.researchandmarkets.com/research/zc4cpk/global_eyewear?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190308005278/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Optical,Eye Care and Eyewear
INDUSTRY KEYWORD: HEALTH OPTICAL
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 03/08/2019 09:32 AM/DISC: 03/08/2019 09:32 AM