Eyewear Market - Global Industry Analysis, Size, Growth, Trends, and Forecast 2019 - 2029

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Eyewear Market - Global Industry Analysis, Size, Growth, Trends, and Forecast 2019 - 2029

Status : June, 2020 | Consumer Goods | PPT format

Report Digest

Eyewear Market: Overview

Fluttering high in the air, the eyewear market is sure to create some buzz. Seeing the incredible market growth, it is sure to become one of the profitable markets in the near future. The increase in vision-related diseases such as hypermetropia, myopia, and presbyopia has brought about a surge in the eyewear market. Youngsters in large numbers don’t leave the screen. This increased the number of vision disorders, thus further boosting the eyewear market.

The report provides an extraordinary assessment of the eyewear market with a good focus on market dynamics, geographical distribution, and competitive analysis. Growth rate analysis and revenue share predictions of vital segments are some significant features of the report that markets stakeholders can look upon to create great growth strategies.

Eyewear Market: Competitive Analysis and Notable Developments

The eyewear market is a fragmented market with a large number of manufacturers. Manufacturers have to focus on technological advancements for sustaining in the eyewear market. Also, research and development are necessary to know about the latest developments. Furthermore, branding is also an important part to boost sales. In addition, online platforms have also benefitted the manufacturers to a great extent. The key players in the eyewear market industry are Carl Zeiss AG, Bausch Health Companies Inc., EssilorLuxottica, Hoya Corp, Kering SA, Rodenstock GmbH, Safilo Group Spa, Marcolin Spa, Fielmann AG, and De Rigo Vision Spa.    

Recently, Nreal, a Chinese startup launched hi-tech sunglasses that blend computer graphics with the real world when you wear them. Seeing this, manufacturers should definitely focus on such hi-tech products for enhanced sales. At the same time, awareness about vision deficiencies in remote areas is also necessary. Recently, Essilor organized a business program called ‘Eye Mitra’ to provide basic knowledge about vision and some financial support to enable the people to become primary vision care providers.

Eyewear Market: Key Trends

The premium eyewear industry is experiencing exponential growth. However, contact lenses are also gaining pace for those who crave for a spectacle-free look. In addition, technologically advanced sunglasses also see a bright future ahead. Growing awareness about the usage of Ultraviolet (UV) coating, anti-reflective coating, and the scratch-resistant coating further improves the market growth. Spectacles usage is set to rise in the female population. This is because females are more likely to develop refractive errors when compared to men. High demand for quick vision correction is also likely to fuel the eyewear market. The growing trend of goggles and sunglasses further propels the market with full throttle. Rising disposable income coupled with the urge to be fashionable among all is a growth accelerator for the eyewear market.  

Eyewear Market: Regional Outlook

The eyewear market is bifurcated in the regions of the Middle East & Africa, North America, South America, Europe, and Asia-Pacific.

Asia-Pacific region is sure to dominate the eyewear market during the forecast period. This is because of the perception change in the people towards eyewear from function to fashion. In the Asia-Pacific region, China accounts for the largest market size. China is the biggest manufacturer of spectacles in the Asia-Pacific region. China also has a vast population infected with myopia. This, in turn, proves to be a breeding ground for increased use of spectacles. Therefore, China dominates the market in the Asia-Pacific region. Furthermore, China manufactures sufficient frames per day to suffice the need of the people. This, in turn, also offers a vast range of frames for the consumers to choose from. In addition, Brazil is also emerging as a huge market for premium luxury eyewear. Other regions also have a considerable share in the eyewear market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.