Eyewear Market Updates

Global Eyewear Market size was valued at USD 183.12 Billion in 2023 and is poised to grow from USD 198.14 Billion in 2024 to USD 372.2 Billion by 2032, growing at a CAGR of 8.2% in the forecast period (2025-2032).

The competitive global eyewear market is dominated by major players such as EssilorLuxottica, Johnson & Johnson Vision, and Safilo Group, who dominate the market through innovation and strategic alliances. In accordance with the U.S. Department of Commerce (2024), businesses continue investing in R&D as a way of adhering to more stringent safety and environmental standards, which improve the quality and sustainability of products. Government bodies, like Canada's Innovation, Science and Economic Development (ISED) ministry, facilitate technological progress through money that fuels smart eyewear innovation. Moreover, companies focus on digitalization, leveraging AI-driven personalization and developing e-commerce platforms to reach changing consumer trends worldwide. Strategic acquisitions like EssilorLuxottica's acquisitions of smaller regional players, and green material investments, complement changing regulatory landscapes and consumer pressure for green eyewear solutions. 'EssilorLuxottica', 'Luxottica (subsidiary of EssilorLuxottica)', 'Carl Zeiss AG', 'Safilo Group', 'Hoya Corporation', 'Marchon Eyewear', 'Fielmann AG', 'Cooper Companies (CooperVision)', 'Johnson & Johnson Vision', 'Maui Jim, Inc.', 'Oakley (Luxottica)', 'Warby Parker', 'Silhouette International', 'Velenci'

Higher prevalence of vision impairments globally, with more than 2.2 billion people suffering from it as per WHO (2023), accelerates demand for eyewear. Governments such as the U.S. CDC Vision and Eye Health Surveillance System encouraging early detection, increased prescriptions. Japanese aging populations (35% of 60+ require lenses) and digital eye strain issues, emphasized by Australia's Department of Health, increase demand further. Industry behemoths such as EssilorLuxottica registered a 12% revenue growth in 2024 with these trends, depicting fast-paced market growth aligned with global health agendas.

Increasing Demand for Blue Light Blocking Lenses to Fight Digital Eye Strain: Governments across the globe, including the UK National Health Service, have seen increasing cases of digital eye strain because of continuous screen use. In 2024, NHS encouraged the adoption of blue light filtering lenses to help reduce symptoms. This has driven demand growth, with firms growing product lines to satisfy health needs and consumer preferences worldwide.

What makes North America the top market for eyewear in 2024?