Eyewear products such as prescription glasses, contact lenses, sunglasses, and goggles help users achieve visual clarity and protection. Advancements in materials and lens technology have improved comfort, durability and visual experiences for users. The global eyewear market is estimated to be valued at US$ 141.5 Bn in 2023 and is expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends: Rising Awareness of Visual Health Needs

 

The growing awareness about the importance of maintaining visual health has been driving significant adoption of eyewear products. There is an increasing understanding that vision care goes beyond just treating defects and involves holistic wellness of eyes. Regular usage of prescription glasses and sunglasses along with minimizing exposure to blue light from digital devices is recommended for eye protection and comfort. Various NGOs and eye care organizations have been actively promoting such vision health messages to consumers through social media and community outreach programs. This has boosted sales of advanced lens technologies and treatment options within the eyewear market over the recent years.

Segment Analysis

The global eyewear market can be segmented into spectacles, sunglasses, and contact lenses. The spectacles segment dominates the market and accounts for around 60% share owing to its widespread use in vision correction. Spectacles are becoming a fashion accessory and trends like unique frame designs and materials are driving demand especially among youth.

 

Key Takeaways

The Global Eyewear Market Share is expected to witness high growth over the forecast period 2023 to 2030.

Regional analysis: The Asia Pacific region currently dominates the eyewear market with over 35% share. The growth in the region is led by large populous nations like India and China where increasing income levels are driving demand for fashion eyewear products. North America and Europe are other major markets benefiting from rising health awareness.

 

Key players operating in the eyewear market are Worksite Lighting LLC, DCD Technologies ME FZCO, Azz Inc., Nemalux Inc., IKIO LED Lighting, Luceco Middle East FZCO, Glamox UK, WAROM Technology MENA FZCO, SA Equip, Shenzhen CESP Co. Ltd., Raytec Ltd., PROLUX International FZ LLC, Hilclare Lighting, Munira Lighting (AL Hatimi Trading FZE), Hubbell Limited, Emerson FZE (Emerson Electric Co.), Current Lighting Solutions LLC (GE Current), ABB Installation Products Inc., Larson Electronics LLC, R.Stahl Limited, Technology Co. Ltd., Digital Lumens Inc. (OSRAM), Dialight PLC, and Eaton Corporation.


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