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Eyewear - Market Analysis by Size, Share, Growth, Trends up to 2025

A new report on Eyewear market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Eyewear market in tandem with its competitive terrain.

Growing number of awareness campaigns and inclusion of eye screening in primary health centers are expected to foster new growth avenues for industry expansion. Also, paradigm shift where consumer perception for eyewear is changing from function to fashion is further expected to propel overall market growth. Rapid expansion of ecommerce channel and declining operational cost for manufacturers is likely to contribute to industry growth.

Rise in the number of cases of computer vision syndrome (CVS) among the younger generation owing to prolonged exposure to electronic gadgets such as computers, mobile phones, and television will propel the eyewear market. Factors such as increasing consumer consciousness about eye health and surge in disposable income will boost the demand for premium high-end products. Moreover, changing lifestyle and fashion trends have prompted the manufacturers to introduce improved optical designs, frames with enhanced coating materials, thereby fueling industry expansion.

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Optical stores accounted at over 23% of the global eyewear market in 2018. Consumer inclination toward enhanced customer service and availability of trained and experienced staff will boost product sales through this distribution channel. Factors such as brand loyalty and after-sales service will propel the eyewear market. Increasing consumer demand for wide range of services including eye examinations and consultation services will boost revenue from this segment.

Eyewear - Market Analysis by Size, Share, Growth, Trends up to 2025
Eyewear - Market Analysis by Size, Share, Growth, Trends up to 2025

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Increasing fashion consciousness customer base will spur demand for luxury eyewear products. Rising demand for branded products and sales is projected to contribute significantly to overall industry revenue. The sales are driven by a higher proportion of fashion-driven customers with relatively higher disposable income. Favorable policies undertaken by the government to attract FDI is expected to propel the penetration of many international brands in new marketplaces.

North America eyewear market is estimated to grow at CAGR of 3.6% from 2019 to 2025. Increasing prevalence of myopia or near-sightedness among children at early age in the U.S. will drive the regional growth. Hectic lifestyle and prolonged usage of gadgets are the major driving factor propelling product penetration. Rising focus of manufacturers towards the development of eyewear products with new frames, sizes, designs, color and shapes is anticipated to drive the regional demand.

Contact lenses market is expected to surpass USD 15 billion by 2025.Increasing need for high impact resistance material and ongoing technical improvements in product material and capabilities will influence contact lens material selection over the proposed time frame. Contact lens manufacturing companies are continually endeavoring to develop innovative material, which meets both the patient and practitioner requirements.

Europe eyewear market dominated by Germany accounted for over 30% of the global industry share in 2018. Growth in the geriatric population in the region will benefit product penetration over the projected timeframe. According to estimates, the population aged 65 or over had a 19.2% share of the EU-28?s population in 2016. Further increasing consumer preference for premium products over regular eyewear will augment product demand over the forecast period.

Global eyewear market is fragmented in nature owing to presence of multinational, regional and domestic players. Major companies present in the industry include Johnson & Johnson, Safilo Group SpA, Alcon, Rodenstock, De Rigo SpA, Essilor, International S.A., Alcon, Bausch & Lomb, and Marcolin. Mergers and acquisition, new product launches, strategic collaborations, product innovations and production capacity expansion are among the major strategies adopted by major industry participants. For instance, on November 2017, the Bausch +Lomb Inc. announced the launch of expanded parameters of Bausch + Lomb ULTRA for Astigmatism contact lenses. This offering has helped the company to enhance its portfolio and gain a competitive edge.

Major Highlights from Table of contents are listed below for quick lookup into Eyewear Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Eyewear Market
  • Product trends
  • Application trends

Chapter 3. Eyewear Industry Insights

  • Eyewear Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Eyewear industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Eyewear Market Technology & innovation landscape
  • Industry impact forces
  • Eyewear Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Eyewear Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Eyewear Market
  • SWOT Analysis

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