The global eyewear market is expected to expand significantly from its current value of US$ 115.2 billion to US$ 206.1 billion by the end of 2032.
Despite the fact that reading glasses and spectacles have been available for a while, prescription sunglasses have become much more popular in recent years.
Sunglasses have seen a lot of product innovation because they are a crucial piece of outdoor equipment. Sunglasses with polarisation are made to reduce glare from reflective surfaces like glass, snow, and water. These lenses are frequently worn by boaters, anglers, or people who spend most of their time driving or going outside because they significantly reduce the reflected glare from the water.
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Key Takeaways from Market Study
- The worldwide eyeglasses market is moderately concentrated, which gives consumers a fair negotiating power. Key players are establishing their influence with the use of strategic alliances with major international players.
- With a projected growth rate of 32.4% during the forecast period, the segment of optical retailers would see stronger development than other channels.
- When it comes to material, plastic eyewear products command a substantial market share because they offer excellent protection. The use of this material in eyewear goods is anticipated to increase significantly over the next several years.
- When it comes to product categories, sunglasses hold a sizeable market share. It it is projected that manufacturers will spend substantially on product development due to the younger generation’s growing fashion consciousness.
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Competition Landscape
Eyewear suppliers are now discovering new methods to minimize expenses and enhance the quantity they generate. These solutions are being enacted as a result of rising input costs and a lack of market power.
Large establishments are evaluating their operational chains and operational performance from both of these perspectives. Accordingly, nurturing vital links with key stakeholders or suppliers to reach new levels of efficiency has become a market norm.
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Key Segments Covered in Eyewear Industry Research
Eyewear Market by Product:
- Spectacles
- Sunglasses
- Contact Lenses
- Sports Eyewear
- Others
Eyewear Market by Material:
- Metal Eyewear
- Plastic Eyewear
- Others
Eyewear Market by Price Range:
- Below US$ 15
- US$ 15-35
- Above US$ 35
Eyewear Market by End User:
- Men
- Women
- Unisex
- Kids
Eyewear Market by Sales Channel:
- Clinics & Hospitals
- Modern Trade
- Multi-brand Stores
- Optical Stores
- Online Retailing
- Others
Eyewear Market by Region:
- North America Eyewear Market
- Latin America Eyewear Market
- Europe Eyewear Market
- East Asia Eyewear Market
- South Asia Eyewear Market
- Oceania Eyewear Market
- MEA Eyewear Market
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