Product ID: SQSG35B2025
Global Eyewear Market Size, Share, Growth Analysis, By Products(Contact Lenses, Spectacles), By Distribution Channel(Retail Stores, Online Stores) - Industry Forecast 2024-2031
Report ID:
SQSG35B2025 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
63 |
Figures:
75
Global Eyewear Market Insights
Eyewear Market size was valued at USD 157.9 billion in 2019 and is poised to grow from USD 170.8 billion in 2023 to USD 357.1 billion by 2031, growing at a CAGR of 8.4% in the forecast period (2024-2031).
The shift in millennials' lifestyle preferences and their growing use of expensive accessories promote market expansion. Encouraged by the rising consumer demand for their products, eyewear manufacturers concentrate on creating stylish and reasonably priced eyewear. In an effort to quickly respond to current fashion trends and draw in fashion fans, they are releasing fresh designs and patterns. The main market players' ongoing efforts to win new clients and keep hold of existing ones are having a favorable impact on market statistics.
The businesses have a tendency to improve the customer experience by providing cutting-edge services and goods. For instance, Essilor launched the My Vision Check app in July 2021 to enable customers to screen at home before scheduling an appointment for a comprehensive eye checkup with their local clinic. With the release of its new app, Virtual Vision Exam, which offers an at-home vision test akin to what eye doctors perform, Warby Parker also updated its online prescription renewal service at this time. It offers customers an updated prescription so they can buy glasses or contact lenses.
Through e-commerce websites and the spread of social media, the increased distribution further fuels the market's expansion. The eyewear firms advertise heavily on well-known social media sites like Instagram, Twitter, and Facebook, which gives them the chance to assess audience preferences and provide carefully selected items. These platforms assist businesses in implementing cutting-edge marketing techniques like influencer and affiliate marketing to increase the profitability of their operations.
People spent more time on cell phones, laptops, and desktop computers as a result of the adoption of remote working models and online learning because of the lockdown constraints. Longer screen time encouraged consumers to purchase anti-fatigue and vision correction eyewear, which helped eyewear businesses boost sales of anti-fatigue and blue light-canceling lenses.
US Eyewear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Eyewear Market Report Snapshots
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