Global Eyewear Market: Snapshot
As per the recent TMR report, the global eyewear
market was valued at US$ 155,652.3 Mn in 2018 and
is forecasted to expand at a CAGR of 8.30 % from 2019 to 2027.It
is estimated to reach a value of US$ 319,015.5 Mn by 2027.
In terms of geography, the global eyewear market is
segmented into five major regions namely North America, Asia Pacific, Europe,
South America and the Middle East and Africa. North America currently holds the
lead in the global eyewear market. In the near future as well the regional
market is anticipated to rise at steady pace. This due to rising disposable
income of people in the region. On the basis of segments online segment to
report a higher CAGR during the course of the forecast period.
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Change In Fashion Trends To Boost The Growth of Global
Eyewear Market
Ongoing fashion trends of wearing designer eyewear has
emerged as one unconventional drivers of the global eyewear market. The trend
is mainly because of the changing lifestyle of the consumers owing to the
rising disposable income of the consumers. The growing inclination of the
consumers of towards branded eyewear products will pave way for the market to
capitalize on lucrative prospect. Siting the trend, the key players of
the global market trying to lure the customer with designer and cost effective
product launches. While, majority of the companies adopting product
branding approach to seek customer attention.
Increasing Investment By Eyewear Manufacturing Process
Will Lead To Technical Advancements And Transition
Owing to the strong presence of multiple prominent eye wear
players such as Magrabi, Signature, Fielmann, Luxottica, Safilo. Zeiss
International and Essilor International, the degree of competition in the
global eyewear market is high. All the players are continuously investing in
current market to enhance their market presence. Luxottica and Essilor
International agreed upon the investment of US$ 49 Bn merger
to build a global eyewear powerhouse with annual revenue of more than US$
16.5 bn to collaborate on eyewear business with Marcolin.
High level of fragmentation on account of presence of
plethora of companies is expected to shape the competitive contours of
the global eyewear market, finds Transparency Market Research (TMR). Some
of the predominant players present in the global eyewear marker are Bausch
& Lomb Inc., Essilor International, Luxottica Group S.p.A., Zeiss
International, Marchon Eyewear and Johnson & Johnson Vision Care. Major
players in the market are focusing on product innovation and acquisitions along
with partnerships to expand their business.
The global eyewear market is segmented based
on:
Global Eyewear Market, By Product Type
- Spectacles
- Spectacle
Lenses
- Spectacle
Frames
- Contact
Lenses
- Soft
Contact Lenses
- Rigid
Contact Lenses
- Sunglasses
- Polarized
Sunglasses
- Non-Polarized
Sunglasses
Global Eyewear Market, By Distribution
- Online
Channel
- Offline
Channel
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In the end,
Eyewear industry report specifics the major regions, market scenarios with the
product price, volume, supply, revenue, production, and market growth rate,
demand, forecast and so on. This report also presents SWOT analysis, investment
feasibility analysis, and investment return analysis.
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