1 / 7

Eyewear Market Insights: Understanding Consumer Behaviour and Preferences

The global eyeglasses market was valued at USD 172.16 billion in 2022. It is expected to reach USD 344.14 billion by 2031, rising at an 8.10% CAGR over the forecast period (2023-2031). The rise in eyeglass consumption can be attributed to early market acceptance by young people with vision problems.

Shraddha47
Download Presentation

Eyewear Market Insights: Understanding Consumer Behaviour and Preferences

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Eyewear Market Overview As per Straits Research the global eyewear market size was valued at USD 172.16 billion in 2022. It is estimated to reach USD 344.14 billion by 2031, growing at a CAGR of 8.10% during the forecast period (2023–2031). The increase in eyeglass consumption can be ascribed to the early market adoption by young individuals with visual impairments. by Ritika B

  2. Market Size and Growth Trends 1 2 3 Global Market Size Key Drivers Regional Trends The global eyewear market is estimated to be worth billions of dollars, with a projected compound annual growth rate (CAGR) of 8.10 percent. Factors such as increasing awareness of eye health, rising disposable income, and growing demand for fashion-forward eyewear are driving market growth. The Europe region is expected to dominate the market, while North America and Asia-Pacific continue to demonstrate significant growth.

  3. Key Segments and Product Categories Eyeglasses Sunglasses Contact Lenses • Corrective lenses • Polarized sunglasses • Soft contact lenses • Reading glasses • Fashion sunglasses • Rigid gas permeable (RGP) lenses • Blue light glasses • Sports sunglasses • Disposable contact lenses

  4. Competitive Landscape and Key Players Market Leaders Emerging Players Major players in the eyewear market include Vogue Eyewear, Oakley, Costa, Persol, Oliver Peoples. These companies have established strong brand recognition and a wide distribution network. Smaller companies are entering the market with innovative designs and niche offerings. They often leverage digital marketing and social media to reach target audiences. Competitive Dynamics Competition in the eyewear market is intense, driven by factors such as product innovation, price competitiveness, and brand loyalty.

  5. Technological Advancements and Innovations Smart Glasses Smart glasses with integrated technology, such as augmented reality and voice control, are gaining popularity. 3D Printing 3D printing allows for the customization of eyewear frames, offering greater personalization and design flexibility. Advanced Lens Technology New lens materials and coatings provide enhanced vision correction, UV protection, and scratch resistance.

  6. Emerging Markets and Growth Opportunities Developing Economies E-Commerce Growth Sustainability 1 2 3 Rising disposable income and growing urbanization in developing economies are creating significant growth opportunities. Online retailers are gaining traction in the eyewear market, offering convenience and a wider selection of products. Consumers are increasingly seeking eco-friendly and sustainable eyewear options, creating new opportunities for companies.

  7. Conclusion and Future Outlook The eyewear market is poised for continued growth, driven by innovation, evolving consumer preferences, and emerging markets. Companies that adapt to these trends, embrace technology, and focus on sustainability are well-positioned for success.

More Related