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 Study 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.
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