The North American eyewear market demand accounted for more than 37% of the global industry share in 2018 and is expected to grow substantially during the forecast period due to the increasing demand for corrective eyewear and the rising prevalence of visual impairment in children.
Selbyville, Delaware, June 21, 2019/PRNewswire/ – According to a 2019 report by Global Market Insights, Inc., the eyewear market revenue is expected to increase from $120 billion in 2018 to More than 170 billion U.S. dollars in 2025. Consumers’ awareness of the importance of eye examinations, coupled with the increase in purchasing power, will promote the development of the eyewear market within the predicted time frame. Factors such as a busy lifestyle, favorable demographics, visual impairment, and an increase in vision and vision defects are expected to drive the growth of the eyewear market. Another important aspect is that the continued exposure of digital displays such as smartphones and tablet computers has increased vision problems, thereby further magnifying industry demand. People are increasingly using corrective glasses to correct refractive errors, which is expected to drive market demand.
The industry’s strong demand for piano sunglasses is expected to increase the demand for contact lenses, thereby minimizing dependence on glasses. The reasonable price, form, and greater comfort and convenience provided by eyewear products will create greater opportunities for eyewear manufacturers. In addition, the ever-changing prescriptions of eyeglasses have led to an increase in the number of renewal of lenses, which has a positive impact on product demand.
Due to the increase in the elderly population, the increased demand for corrective glasses has led to the expansion of the market demand for glasses. Changes in consumer lifestyles and increased awareness of beauty will drive the demand for sunglasses and prescription frames. Progressive lenses are becoming increasingly popular due to their advantages such as clear vision and elimination of image jumps, which will promote the demand for the eyewear market.
The rapid technological progress brought about by the large investment in research and development by leading manufacturers will provide strong business prospects. The transformation of glasses manufacturers from unorganized to organized industries and technological development will promote the growth of the market share of glasses. In addition, favorable government policies and regulations regarding the reduction of carbon and VOC emissions from the manufacturing process will drive market growth.
North America accounted for more than 37% of the global eyewear industry in 2018. Due to the rising prevalence of visual impairment in young children, the demand for corrective glasses, especially in the United States, will drive the demand for the North American glasses market. The increasing incidence of chronic eye diseases that cause vision loss due to uncorrected visual impairment and unoperated cataracts will drive the demand for the eyewear market. Due to the long-term use of gadgets, the increase in the prevalence of myopia in the region will promote the growth of the industry within the forecast time frame.
Browse key industry insights distributed on 930 pages, including 1649 market data tables and 19 data and charts, from the report, “Eyeglasses market size by product (glasses [by product {frame (by material [plastic, metal] ), lenses (by material [by material] polycarbonate, plastic, polyurethane, Trivex])}], contact lenses [by-product {RGP, soft contact, mixed contact}, by material {silicone, PMMA, polymer}], Plano sunglasses [by-product {polarized light, non-polarized light}, by material {CR-39, polycarbonate}]), by distribution channel [glasses shop, independent brand showroom, online store, retail store] regional outlook (United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Sweden, Switzerland, Norway, Belgium, Bulgaria, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Egypt, Tunisia), competitive market share and forecast, 2019 – 2025″ and catalogue:
Eyewear dominates the global eyewear market share, accounting for more than 55% of sales in 2018. Strong economic growth and rapid urbanization are driving demand for designer and branded frames. Further product development, such as lightweight frames and eyewear innovations, and eyewear innovations that provide improved UV protection, anti-fog and anti-glare properties, are driving business expansion.
In the predicted time frame, the global eyewear market for contact lenses is expected to be the fastest growing segment in terms of revenue. Product availability with different usage time options (such as daily, monthly and yearly disposable lenses) and improved color options are one of the key factors driving market share. Manufacturers are focusing on factors such as ease of installation, high initial comfort, ease of use, and improved vision. For example, in April 2018, Johnson & Johnson announced the launch of a new full-sight smart technology in contact lenses that provides vision correction and dynamic photochromic filters to balance the amount of light entering the eyes.
CR-39 is one of the main raw materials, and it is expected to increase significantly by 2025. Consumers’ growing preference for thin and light eyewear materials is expected to drive the growth of the overall eyewear market. Key aspects including increased flexibility, cost-effectiveness, high durability, and aesthetic appearance have had a positive impact on material requirements. Manufacturers focus on using innovative materials to launch new products with excellent designs to meet customer needs.
The market value of glasses in optical shops in 2018 was US$29 billion. The optical shop provides easy eye examination and consulting services for practicing optometrists at a low cost. Therefore, it is expected that the increase in consulting costs for external ophthalmologists will drive product demand through distribution channels. In addition, due to a reasonable process and improved after-sales service, the store offers large products to observe high consumer loyalty. In addition, key advantages such as getting the right fit and quick and easy comparison have also contributed to considerable market segment growth.
Due to the existence of a large number of regional and multinational companies, the global eyewear market share is fiercely competitive. Major participants include Luxxotica, Essilor International SA, Alcon, Cooper Vision, Fielmann AG, Safilo Group SpA, Johnson & Johnson, De Rigo SpA, Bausch & Lomb, Rodenstock, Hoya Corporation, Carl Zeiss and Marcolin Eyewear. The key strategies observed among industry participants include mergers and acquisitions, new product development, capacity expansion, and technological innovation to gain a competitive advantage. For example, in January 2019, Cooper Vision acquired Blancard Contact Lenses to enhance its product portfolio.
1. Personal protective equipment (PPE) market size by product (head [safety helmet and helmet, anti-collision cap], eye and face protection [face protection, eye protection – Plano], hearing protection [hat type , Head-mounted, disposable], protective clothing, respiratory protection [SCBA-fire service, SCBA-industrial, APR-disposable, emergency escape device], protective shoes, fall protection [personal system, engineering system], hand protection ), by application (construction, oil) & natural gas, manufacturing, chemical, pharmaceutical, food, transportation), industry analysis report, regional outlook (US, Germany, UK, France, Russia, China, India, Japan, Brazil), application Potential, price trends, competitive market share and forecasts, 2017 – 2024
2. By type (RGP, soft contact, mixed contact), by material (hydrogel, polymer), by distribution channel (glasses shop, independent brand showroom, online store, retail store), by design (spherical, ring (Face) contact lens market size, bifocal and multifocal), by-products (correction, treatment, cosmetics [color, round], prosthetics), by use (daily disposable, weekly disposable, monthly disposable, Annual) industry analysis report, regional outlook (United States, Canada, Germany, United Kingdom, France, Spain, Italy, Switzerland, Nordic countries, Belgium, Luxembourg, Ireland, Poland, Russia, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Vietnam, Taiwan, Singapore, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE, Egypt, Tunisia), growth potential, price trends, competitive market share and forecasts, 2017 to 2024
Global Market Insights, Inc., headquartered in Delaware, is a global market research and consulting service provider; it provides joint and customized research reports and growth consulting services. Our business intelligence and industry research reports provide customers with insightful insights and actionable market data designed and presented to help strategic decision-making. These detailed reports are designed through proprietary research methods and can be used in key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
Arun HegdeCorporate Sales, USAGlobal Market Insights, Inc. Tel: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: [Email Protection] Website: https://www.gminsights.com
global-eyewear-market-size-worth.png By 2025, the global eyewear market will reach 170 billion U.S. dollars, and the eyewear market is expected to exceed 170 billion U.S. dollars by 2025; according to a new study by Global Market Insights, Inc. report.
Post time: Aug-30-2021