Eyewear Market size to grow by USD 76 billion from 2022 to 2027, Growth driven by the increasing prevalence of vision disorders- Technavio

NEW YORK, March 3, 2023 /PRNewswire/ -- According to Technavio, the global eyewear market size is estimated to grow by USD 76 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 7.9% during the forecast period. The growing number of vision disorders is expected to be a major driver for market growth. Changes in eating habits, and increased screen time due to exposure to video games, televisions, and computer systems. Health problems like myopia, hypermetropia, and cataracts are the leading causes of vision disorders, which in turn is growing the demand for the global eyewear market. For more insights on the historic (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

What`s New for 2023?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial

Leading trends influencing the market 

• The growing adoption of omnichannel marketing and digital marketing strategies by emerging players in many regional markets is a key trend in the global eyewear market.
• Vendors are aggressively executing online marketing and promotional activities on the internet to gain access to a larger customer base and cover a bigger geographic landscape.
• Omnichannel marketing also has reduced operational costs and improved product reach for the vendors, improving their profit margins.
• Vendors are offering additional options like virtual fitting and free product trials, suggestions, and expert advice to attract customers. 
• Some vendors in the market also offer online services to buy contact lenses, vision care products, and surgical products.
• Such factors are expected to tremendously impact the growth of the global market.

Major challenges hindering the market growth

• Growing adoption of refractive surgery by people with vision disorders is a major hindrance to the growth of the market in focus.
• Refractive surgery is one of the leading substitutes for eyewear among many users. Patients prefer LASIK and PRK procedures to correct the refractive state of the eye and reduce the dependency on eyewear.
• This is seen as a one-time investment by patients because it is a permanent solution to eyesight-related issues.
• Hence, people with higher disposable incomes in developed nations prefer these surgical procedures, which may impede the growth of the market during the forecast period.

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Eyewear Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on distribution channel (offline and online), product (eyeglass, sunglass, and contact lenses), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

• The offline segment is a significant contributing factor to the growth of the global eyewear market. This segment mainly comprises of retail store setups like specialty stores, malls, and branded stores.
• Specialty stores offering different types of eyewear are dominating this segment. A marked increase in business expansion compliments a steady rise in the number of stores offering sunglasses is a major contributing factor to the growth of the segment.
• The offline segment is thriving due to the larger range of products at different prices and quality points are available to consumers at their convenience.

Geography Overview
By geography, the global eyewear market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global eyewear market.

• Europe is estimated to contribute to 31% of the market growth during the forecast period. The major contributing factors for this are the rising household income, growing demand for high-quality healthcare products, and product advancements.
• Vendors focus on innovative product designs and quality to improve their range and scope in the market.
• Furthermore, the growing demand for premium eyewear is fueling the growth of the market in the region.
• These factors are expected to drive the growth of the market in the region during the forecast period.

Get insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) -Download a Sample Report

What are the key data covered in this Eyewear Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Eyewear Market between 2023 and 2027
• Precise estimation of the size of the Eyewear Market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Eyewear Market industry across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Eyewear Market vendors

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Related Reports:

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The artificial eye market size is expected to increase by USD 34140.17 thousand from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.16%. The increasing prevalence of ophthalmic diseases is one of the key drivers supporting the artificial eye market growth. 

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global eyewear market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global eyewear market 2017 - 2021 ($ billion)

• 4.2 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

• 6.1 Market segments 
• Exhibit 30: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 6.2 Comparison by Distribution Channel 
• Exhibit 32: Chart on Comparison by Distribution Channel
• Exhibit 33: Data Table on Comparison by Distribution Channel

• 6.3 Offline - Market size and forecast 2022-2027
• Exhibit 34: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 6.4 Online - Market size and forecast 2022-2027
• Exhibit 38: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Distribution Channel
• Exhibit 42: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments 
• Exhibit 43: Chart on Product - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Eyeglass - Market size and forecast 2022-2027
• Exhibit 47: Chart on Eyeglass - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Eyeglass - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Eyeglass - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Eyeglass - Year-over-year growth 2022-2027 (%)

• 7.4 Sunglass - Market size and forecast 2022-2027
• Exhibit 51: Chart on Sunglass - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Sunglass - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Sunglass - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Sunglass - Year-over-year growth 2022-2027 (%)

• 7.5 Contact lenses - Market size and forecast 2022-2027
• Exhibit 55: Chart on Contact lenses - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Contact lenses - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Contact lenses - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Contact lenses - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Product 
• Exhibit 59: Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Italy - Market size and forecast 2022-2027
• Exhibit 93: Chart on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on Italy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on Italy - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Italy - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 97: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027
• Exhibit 101: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 Alcon Inc. 
• Exhibit 112: Alcon Inc. - Overview
• Exhibit 113: Alcon Inc. - Business segments
• Exhibit 114: Alcon Inc. - Key offerings
• Exhibit 115: Alcon Inc. - Segment focus

• 12.4 Bausch Health Co. Inc. 
• Exhibit 116: Bausch Health Co. Inc. - Overview
• Exhibit 117: Bausch Health Co. Inc. - Business segments
• Exhibit 118: Bausch Health Co. Inc. - Key news
• Exhibit 119: Bausch Health Co. Inc. - Key offerings
• Exhibit 120: Bausch Health Co. Inc. - Segment focus

• 12.5 Carl Zeiss AG 
• Exhibit 121: Carl Zeiss AG - Overview
• Exhibit 122: Carl Zeiss AG - Business segments
• Exhibit 123: Carl Zeiss AG - Key offerings
• Exhibit 124: Carl Zeiss AG - Segment focus

• 12.6 Charmant Inc. 
• Exhibit 125: Charmant Inc. - Overview
• Exhibit 126: Charmant Inc. - Product / Service
• Exhibit 127: Charmant Inc. - Key offerings

• 12.7 De Rigo Vision Spa 
• Exhibit 128: De Rigo Vision Spa - Overview
• Exhibit 129: De Rigo Vision Spa - Product / Service
• Exhibit 130: De Rigo Vision Spa - Key offerings

• 12.8 EssilorLuxottica SA 
• Exhibit 131: EssilorLuxottica SA - Overview
• Exhibit 132: EssilorLuxottica SA - Business segments
• Exhibit 133: EssilorLuxottica SA - Key offerings
• Exhibit 134: EssilorLuxottica SA - Segment focus

• 12.9 Fielmann AG 
• Exhibit 135: Fielmann AG - Overview
• Exhibit 136: Fielmann AG - Business segments
• Exhibit 137: Fielmann AG - Key news
• Exhibit 138: Fielmann AG - Key offerings
• Exhibit 139: Fielmann AG - Segment focus

• 12.10 HOYA Corp. 
• Exhibit 140: HOYA Corp. - Overview
• Exhibit 141: HOYA Corp. - Business segments
• Exhibit 142: HOYA Corp. - Key offerings
• Exhibit 143: HOYA Corp. - Segment focus

• 12.11 Kering SA 
• Exhibit 144: Kering SA - Overview
• Exhibit 145: Kering SA - Business segments
• Exhibit 146: Kering SA - Key offerings
• Exhibit 147: Kering SA - Segment focus

• 12.12 Le petit fils de L.U. Chopard and Cie SA
• Exhibit 148: Le petit fils de L.U. Chopard and Cie SA - Overview
• Exhibit 149: Le petit fils de L.U. Chopard and Cie SA - Product / Service
• Exhibit 150: Le petit fils de L.U. Chopard and Cie SA - Key offerings

• 12.13 Marcolin Spa 
• Exhibit 151: Marcolin Spa - Overview
• Exhibit 152: Marcolin Spa - Business segments
• Exhibit 153: Marcolin Spa - Key offerings
• Exhibit 154: Marcolin Spa - Segment focus

• 12.14 Safilo Group Spa 
• Exhibit 155: Safilo Group Spa - Overview
• Exhibit 156: Safilo Group Spa - Business segments
• Exhibit 157: Safilo Group Spa - Key offerings
• Exhibit 158: Safilo Group Spa - Segment focus

• 12.15 TEK Optical Inc. 
• Exhibit 159: TEK Optical Inc. - Overview
• Exhibit 160: TEK Optical Inc. - Product / Service
• Exhibit 161: TEK Optical Inc. - Key offerings

• 12.16 The Cooper Companies Inc. 
• Exhibit 162: The Cooper Companies Inc. - Overview
• Exhibit 163: The Cooper Companies Inc. - Business segments
• Exhibit 164: The Cooper Companies Inc. - Key offerings
• Exhibit 165: The Cooper Companies Inc. - Segment focus

• 12.17 Vision Express UK Ltd. 
• Exhibit 166: Vision Express UK Ltd. - Overview
• Exhibit 167: Vision Express UK Ltd. - Product / Service
• Exhibit 168: Vision Express UK Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 169: Inclusions checklist
• Exhibit 170: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 171: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 172: Research methodology
• Exhibit 173: Validation techniques employed for market sizing
• Exhibit 174: Information sources

• 13.5 List of abbreviations 
• Exhibit 175: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Email: [email protected]
Website: www.technavio.com/

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