The global eyewear market size is expected to reach USD
184.03 billion by 2024, according to a new report by Grand View Research, Inc.
The increase in aging population and growing acceptance of eyewear, backed by
rising disposable incomes of people worldwide are expected to play an important
role in market growth. Moreover, growing awareness regarding proper eye health
among the consumers is projected to strengthen the growth prospects over the
forecast period.
Vendors are increasingly adopting
innovative distribution channels including strategies such as vertical
integration for organizational growth. The internet retailing has gained
increasing popularity amongst the consumers as it enables them to place online
orders for eyewear at better prices as compared to the conventional brick and
mortar stores.
The increasing awareness
regarding refractive surgeries, such as PRK and LASIK that reduce or eliminate
individual’s dependency on corrective eyeglasses is a major factor impeding the
industry growth. Such procedures are being progressively made affordable for a
large percentage of the population across the developing regions.
North America Eyewear Market by Product, 2013 - 2024
(Volume, Million Units)
Browse full research
report on Eyewear Market: http://www.grandviewresearch.com/industry-analysis/eyewear-industry
Further key findings from the report suggest:
- Spectacles,
which comprise frames and lenses, contributed to over 50% of the global
eyewear market volume share in 2015 and are projected to witness stable
growth owing to the high replacement rate of lenses and constantly
changing prescriptions. Additionally, the introduction of progressive and
high-index lenses has led to a surge in demand and is projected to
continue over the next eight years.
- Contact
lenses contributed to over 30% of the global market volume share in 2015
and are poised for steady growth throughout the next eight years on
account of the high degree of awareness among users coupled with the growing
demand for the cosmetic lenses among the younger population. Moreover, the
introduction of innovative easy-to-wear, cosmetic, and daily disposable
lenses has positively impacted the sales of such products.
- The European
eyewear market was valued at close to USD 40 billion 2015 and is
anticipated to witness steady growth throughout the forecast period.The
presence of key eyeglasses vendors, such as Safilo Group S.p.A and
Luxottica Group S.p.A in the region is anticipated to boost the regional
eyeglasses sales volume in the coming years.The growth prospects for the
Asia Pacific eyewear market seem very bullish owing to increase in
purchasing power among consumers and wearer base expansion across the
region.
- Market
participants are emphasizing onsupply chain integration,product
innovation, and mergers and acquisitions, to gain a foothold in the
industry. Establishment of an effective distribution network is the key to
achieving global market expansion. The key industry participants include
Luxottica Group S.p.A, Safilo Group S.p.A, Fielmann AG, CooperVision Inc.,
and Bausch + Lomb Inc.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-eyewear-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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