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Eyewear Market by Product Type (Prescription Glasses/Spectacles, Sunglasses, Contact Lenses), End User (Men, Women), Mode of Sale (Retail, Online) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020

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Pages: 113
Aug 2016 | 5493 Views
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Author's : Priyanka Bisht
Tables: 25
Charts: 46
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Eyewear Market Overview:

Eyewear Market is expected to garner $141.3 billion by 2020, registering a CAGR of 8.1% during the forecast period 2015-2020. Eyewear comprises accessories that are worn over the eyes for vision correction or to protect eyes from debris, harmful radiations or excessive light. Eyewear includes spectacles, lenses and sunglasses worn for vision correction or protection of eyes from harmful UV lights and dust particles. Factors such as increasing life span, growing geriatric population, and changing fashion trends have fostered the demand for eyewear, worldwide. In the present scenario, consumers not only wear eyewear for vision correction, but also for enhancing one’s appearance. Numerous market players offer innovative spectacles and lenses, owing to technological advancements and availability of lightweight materials. Emerging countries, such as India, China are exhibiting a rapid growth in the eyewear market.

Key Impacting Factors

Eyewear key impacting factors

Growing visual deficiency and eye defects

Growing visual impairment and need for vision correction have resulted in increased demand for eyewear. Presently, the younger generation is more inclined towards digital devices, spending most of their time on digital devices, such as mobile, laptops and video games.  Moreover, health concerns such as diabetes also affect vision of people, resulting in blindness. Thus, people suffering from diabetes, need to undergo regular eye checkups to avoid vision problems. Hence, growing visual deficiencies and vision impairments would affect the growth of the eyewear market, during the forecast period.

Rising living standards and growing fashion trend

The growing disposable income has encouraged people to buy quality eyewear products that are in perfect amalgamation with their increasing living standards. Moreover, people are now opting for trendy and designer sunglasses according to latest trends prevailing in the market. Youth prefer to don contact lenses in an effort to accentuate their overall appearance. Thus, lofty living standards and increasing fashion consciousness, would contribute to the growth of the eyewear market, thereby positively affecting the market growth.

Collaborations between different institutions to mitigate vision disorder in rural areas

Conscious efforts are now being put into standardization of medical and vision care facilities in rural areas, in a bid to reduce eyesight related issues. Governments in various countries in partnership with different organizations are initiating programs to provide reasonable eye care facilities to the rural population. With such initiatives in place, rural population would benefit from efficient healthcare and eye care facilities. Thus, these collaborations with different institutions would drive the growth of eyewear market.

Ageing population

Extended live expectancy and ageing population are major factors boosting the growth of eyewear market. Old aged people tend to experience a wide gamut of vision related problems such as presbyopia and cataract, thereby fostering an increasing demand for eyewear.

Segmentation Overview

The world eyewear market is segmented based on product type, end user, mode of sale and geography. By product type, the market is segmented into prescription glasses/spectacles, sunglasses and contact lenses. The end users include men and women, and the mode of sale comprised retail and online stores.

Eyewear market segmentation overview

In the end user segment, men’s segment occupied a dominant share of the market in 2014. However, the women’s eyewear segment is expected to grow rapidly, registering a CAGR of 8.7% during the forecast period. The growth of this segment would be driven by the growing number of working female population and the resultant economic independency. Moreover, market players are also launching new variety of eyewear to cater to the fashion conscious female segment.

The prescription glasses/spectacle category occupies a major revenue share in the eyewear market and this trend is likely to continue during 2015‐2020. The retail mode of sales segment accounted for 89.7% share of the global eyewear market in 2014. However, the online store would be the fastest growing segment, registering a CAGR of 14.1% during the forecast period.

Competitive Landscape

The key companies profiled in the report, include Carl Zeiss AG, Essilor International S.A., Grand Vision, Johnson & Johnson, Inc., Safilo Group S.p.A., Prada S.p.A., Luxottica Group S.p.A., Valeant Pharmaceuticals, Cooper Vision, Inc. and Fielmann AG. These players adopt different strategies to remain competitive in the market.

Eyewear market top winning strategies analysis

Prominent companies in the market have adopted various growth strategies, such as acquisition and product launch, to sustain themselves amidst intense market competition. In 2015, Johnson & Johnson Vision Care, Inc. launched a new pair of contact lens with tear infused design. Johnson & Johnson’s ACUVUE OASYS Brand Contact Lenses 1-Day with HydraLuxe technology facilitates a clear vision throughout the day. The key companies profiled in the report, include Carl Zeiss AG, Essilor International S.A., Grand Vision, Johnson & Johnson, Inc., Safilo Group S.p.A., Prada S.p.A., Luxottica Group S.p.A., Valeant Pharmaceuticals, Cooper Vision, Inc. and Fielmann AG.

Key Benefits:

  • This report provides market estimates and forecasts of the global eyewear market for the period 2014 - 2020.
  •  Market intelligence for key developmental strategies adopted by top companies are explained with impact analysis.
  • Detailed analysis of the key market segments such as segments such as product type, end user, mode of sale and geography; provides a comprehensive understanding of the market.
  • Emphasis is laid on key factors affecting the growth of eyewear market. These factors are critically analyzed to reveal the most influencing factors.
  • Competitive intelligence highlights the business practices followed by leading players across various regions.

Global Eyewear Market Segmentation:

The world eyewear market is segmented based on product type, end user, mode of sale and geography:

Product Type

  • Prescription glasses/Spectacles
  • Sunglasses
  • Contact Lenses

Mode of Sale

  • Retail Stores
  • Online Stores

End User

  • Men
  • Women

Geography

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
 

Chapter: 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

Chapter: 2 MARKET OVERVIEW

2.1 Executive summary
2.2 CXO perspective

Chapter: 3 MARKET OVERVIEW

3.3 Market definition and scope
3.4 Key findings

3.4.1 Top impacting factors
3.4.2 Top investment pockets
3.4.3 Top winning strategies

3.5 Porters five forces analysis

3.5.1 Large number of renowned market players, increases the bargaining power of buyers
3.5.2 Limited number of quality raw material suppliers, increases the bargaining power of suppliers
3.5.3 Presence of well-established market players, results in reduced threat of new entrants
3.5.4 Unavailability of substitutes, results in negligible threat from substitutes
3.5.5 Fierce competition in the world eyewear market, leads to high rivalry among competitors

3.6 Value chain analysis
3.7 Market share analysis, 2014
3.8 Market dynamics

3.8.1 Drivers

3.8.1.1 Growing visual deficiency and eye defects
3.8.1.2 Collaboration between different institutions to mitigate vision disorder in rural areas
3.8.1.3 Rising living standards and growing fashion trends
3.8.1.4 Ageing population

3.8.2 Restraints

3.8.2.1 Acceptance of laser surgeries

3.8.3 Opportunities

3.8.3.1 Demand for different variety of eyewear

Chapter: 4 WORLD EYEWEAR MARKET BY PRODUCT TYPE

4.1 Prescription glasses/Spectacles

4.1.1 Key market trends
4.1.2 Competitive scenario
4.1.3 Key growth factors and opportunities
4.1.4 Market size and forecast

4.2 Contact Lenses

4.2.1 Key market trends
4.2.2 Competitive scenario
4.2.3 Key growth factors and opportunities
4.2.4 Market size and forecast

4.3 Sunglasses

4.3.1 Key market trends
4.3.2 Competitive scenario
4.3.3 Key growth factors and opportunities
4.3.4 Market size and forecast

Chapter: 5 WORLD EYEWEAR MARKET BY MODE OF SALE

5.1 Retail stores

5.1.1 Key market trends
5.1.2 Competitive scenario
5.1.3 Key growth factors and opportunities
5.1.4 Market size and forecast

5.2 Online stores

5.2.1 Key market trends
5.2.2 Competitive scenario
5.2.3 Key growth factors and opportunities
5.2.4 Market size and forecast

Chapter: 6 WORLD EYEWEAR MARKET BY END USER

6.1 Men

6.1.1 Key market trends
6.1.2 Competitive scenario
6.1.3 Key growth factors and opportunities
6.1.4 Market size and forecast

6.2 Women

6.2.1 Key market trends
6.2.2 Competitive scenario
6.2.3 Key growth factors and opportunities
6.2.4 Market size and forecast

Chapter: 7 WORLD EYEWEAR MARKET BY GEOGRAPHY

7.1 North America

7.1.1 Key market trends
7.1.2 Competitive scenario
7.1.3 Key growth factors and opportunities
7.1.4 Market size and forecast

7.2 Europe

7.2.1 Key market trends
7.2.2 Competitive scenario
7.2.3 Key growth factors and opportunities
7.2.4 Market size and forecast

7.3 Asia-Pacific

7.3.1 Key market trends
7.3.2 Competitive scenario
7.3.3 Key growth factors and opportunities
7.3.4 Market size and forecast

7.4 LAMEA

7.4.1 Key market trends
7.4.2 Competitive scenario
7.4.3 Key growth factors and opportunities
7.4.4 Market size and forecast

Chapter: 8 COMPANY PROFILE

8.1 Carl Zeiss AG

8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Business performance
8.1.4 Key strategies and developments
8.1.5 SWOT analysis and strategic conclusion of Carl Zeiss AG

8.2 Essilor International S.A.

8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Business performance
8.2.4 Key strategies and developments
8.2.5 SWOT analysis and strategic conclusion of Essilor International S.A.

8.3 GrandVision

8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Business performance
8.3.4 Key strategies and developments
8.3.5 SWOT analysis and strategic conclusion of GrandVision

8.4 Johnson & Johnson, Inc.

8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Business performance
8.4.4 Key strategies and developments
8.4.5 SWOT analysis and strategic conclusion of Johnson & Johnson, Inc.

8.5 Safilo Group S.p.A

8.5.1 Company overview
8.5.2 Business Performance
8.5.3 Key strategies and developments
8.5.4 SWOT analysis and strategic conclusion of Safilo Group S.p.A

8.6 Prada S.p.A

8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Business performance
8.6.4 Key Strategies and Developments
8.6.5 SWOT analysis and strategic conclusion of Prada S.P.A

8.7 Luxottica Group S.p.A

8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Business performance
8.7.4 Key strategies and developments
8.7.5 SWOT analysis and strategic conclusion of Luxottica Group S.p.A

8.8 Valeant Pharmaceuticals International, Inc.

8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Business performance
8.8.4 Key strategies and developments
8.8.5 SWOT analysis and strategic conclusion of Valeant Pharmaceuticals International, Inc.

8.9 Cooper Companies, Inc.

8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Business performance
8.9.4 Key Strategies and Developments
8.9.5 SWOT analysis and strategic conclusion of Cooper Companies, Inc.

8.10 Fielmann AG

8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Business Performance
8.10.4 Key strategies and developments
8.10.5 SWOT analysis and strategic conclusion of Fielmann AG

LIST OF FIGURES

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP INVESTMENT POCKETS
FIG. 3 TOP WINNING STRATEGIES
FIG. 4 PORTERS FIVE FORCES MODEL
FIG. 5 VALUE CHAIN ANALYSIS
FIG. 6 MARKET SHARE ANALYSIS, 2014
FIG. 7 GDP GROWTH IN MAJOR COUNTRIES, 2015
FIG. 8 POPULATION AND AGEING GROWTH IN THE WORLD, 2010-2019 (MILLION)
FIG. 9 ADULT CONTACT LENS WEARERS IN U.S., 2001-2012 (MILLION)
FIG. 10 EYEWEAR SALES IN GERMANY, 2014
FIG. 11 REVENUE OF CARL ZEISS AG, 20122014 ($MILLION)
FIG. 12 REVENUE OF CARL ZEISS AG BY BUSINESS SEGMENT (%), 2014
FIG. 13 REVENUE OF CARL ZEISS AG BY REGION (%), 2014
FIG. 14 SWOT ANALYSIS OF CARL ZEISS AG
FIG. 15 REVENUE OF ESSILOR INTERNATIONAL S.A., 20122014 ($MILLION)
FIG. 16 REVENUE OF ESSILOR INTERNATIONAL S.A. BY BUSINESS SEGMENT (%), 2014
FIG. 17 REVENUE OF ESSILOR INTERNATIONAL S.A. BY REGION (%), 2014
FIG. 18 SWOT ANALYSIS OF ESSILOR INTERNATIONAL S.A.
FIG. 19 REVENUE OF GRANDVISION, 2012-2014 ($MILLION)
FIG. 20 REVENUE OF GRANDVISION BY BUSINESS SEGMENT (%), 2014
FIG. 21 GROWTH IN NUMBER OF STORES OF GRANDVISION, 2012-2014
FIG. 22 SWOT ANALYSIS OF GRANDVISION
FIG. 23 REVENUE OF JOHNSON & JOHNSON, INC., 20122014 ($MILLION)
FIG. 24 REVENUE OF JOHNSON & JOHNSON, INC. BY BUSINESS SEGMENT (%), 2014
FIG. 25 SWOT ANALYSIS OF JOHNSON & JOHNSON, INC.
FIG. 26 REVENUE OF SAFILO GROUP S.P.A, 20122014 ($MILLION)
FIG. 27 REVENUE OF SAFILO GROUP S.P.A BY PRODUCT (%), 2014
FIG. 28 REVENUE OF SAFILO GROUP S.P.A BY REGION (%), 2014
FIG. 29 SWOT ANALYSIS OF SAFILO GROUP S.P.A
FIG. 30 REVENUE OF PRADA S.P.A, 20122014 ($MILLION)
FIG. 31 REVENUE PRADA S.P.A., BY REGION (%), 2014
FIG. 32 REVENUE PRADA S.P.A. BY PRODUCT LINE (%), 2014
FIG. 33 REVENUE PRADA S.P.A. BY BRAND (%), 2014
FIG. 34 REVENUE PRADA S.P.A. BY DISTRIBUTION CHANNEL (%), 2014
FIG. 35 SWOT ANALYSIS OF PRADA S.P.A
FIG. 36 REVENUE OF LUXOTTICA GROUP S.P.A, INC., 20122014 ($MILLION)
FIG. 37 SWOT ANALYSIS OF LUXOTTICA GROUP S.P.A
FIG. 38 REVENUE OF VALEANT PHARMACEUTICALS INTERNATIONAL, INC., 20122014 ($MILLION)
FIG.39 REVENUE OF VALEANT PHARMACEUTICALS INTERNATIONAL, INC. BY OPERATING SEGMENT (%), 2014
FIG. 40 REVENUE OF VALEANT PHARMACEUTICALS INTERNATIONAL, INC. BY PRODUCT SEGMENT (%), 2014
FIG. 41 SWOT ANALYSIS OF VALEANT PHARMACEUTICALS INTERNATIONAL, INC.
FIG. 42 REVENUE OF COOPER COMPANIES, INC.20122014 ($MILLION)
FIG. 43 SWOT ANALYSIS OF COOPER COMPANIES, INC.
FIG. 44 REVENUE OF FIELMANN AG, 20122014 ($MILLION)
FIG. 45 REVENUE OF FIELMANN AG BY REGIONS (%), 2014
FIG. 46 SWOT ANALYSIS OF FIELMANN AG

LIST OF TABLES

TABLE 1 WORLD EYEWEAR MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 2 WORLD EYEWEAR MARKET REVENUE BY PRODUCT TYPE, 20142020 ($MILLION)
TABLE 3 WORLD PRESCRIPTION GLASSES/SPECTACLES MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 4 WORLD CONTACT LENSES MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 5 WORLD SUNGLASSES MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 6 WORLD EYEWEAR MARKET REVENUE BY MODE OF SALE, 20142020 ($MILLION)
TABLE 7 WORLD RETAIL STORES EYEWEAR MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 8 WORLD ONLINE STORES EYEWEAR MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 9 WORLD EYEWEAR MARKET BY END USER, 2014-2020 ($MILLION)
TABLE 10 WORLD MEN EYEWEAR MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 11 WORLD WOMEN EYEWEAR MARKET REVENUE BY GEOGRAPHY, 20142020 ($MILLION)
TABLE 12 NORTH AMERICA EYEWEAR MARKET REVENUE BY PRODUCT TYPE, 20142020 ($MILLION)
TABLE 13 EUROPE EYEWEAR MARKET REVENUE BY PRODUCT TYPE, 20142020 ($MILLION)
TABLE 14 ASIA PACIFIC EYEWEAR MARKET REVENUE BY PRODUCT TYPE, 20142020 ($MILLION)
TABLE 15 LAMEA EYEWEAR MARKET REVENUE BY PRODUCT TYPE, 20142020 ($MILLION)
TABLE 16 SNAPSHOT OF CARL ZEISS AG
TABLE 17 SNAPSHOT OF ESSILOR INTERNATIONAL S.A.
TABLE 18 SNAPSHOT OF GRANDVISION
TABLE 19 SNAPSHOT OF JOHNSON & JOHNSON, INC.
TABLE 20 SNAPSHOT OF SAFILO GROUP S.P.A
TABLE 21 SNAPSHOT OF PRADA S.P.A
TABLE 22 SNAPSHOT OF LUXOTTICA GROUP S.P.A
TABLE 23 SNAPSHOT OF VALEANT PHARMACEUTICALS INTERNATIONAL, INC.
TABLE 24 SNAPSHOT OF COOPER COMPANIES, INC.
TABLE 25 SNAPSHOT OF FIELMANN AG

 

The world eyewear market has witnessed a notable growth in the recent years, especially in the emerging countries of the Asia-Pacific region, such as India and China. Increase in visual impairment and eye defects cases coupled with inclination towards latest fashion trends are the major factors driving the growth of the global eyewear market. Increasing use of digital devices and gadgets by the young generation has led to an upsurge in the number of eye disorders, thereby, increasing the demand for vision correction products. Additionally, factors such as increased disposable income and improved standard of living in the developing economies, such as India and Brazil have led to the adoption of premium quality, branded eyewear.

The market has been witnessing an increased demand from the female consumers, particularly for trendy and branded eyewear. The increasing number of female professionals and economic independency of women are the key factors fostering the adoption of eyewear products among women. Endorsement by celebrities has increased the demand of designer and premium eyewear. Increased preference for contact lenses has fostered the overall growth of the eyewear market. 

Several companies operating in the global eyewear market have adopted product launch and acquisition as their key growth strategies to sustain the intense competition in the market and to increase their market presence. The products of prominent companies, such as Carl Zeiss, Prada and Essilor International S.A., are endorsed by renowned celebrities to boost their net sales and increase their popularity. With changing technology and availability of a variety of light weight raw materials, several companies are now offering high-quality and innovative designs in eyewear models. Numerous companies are proactively setting up new retail outlets, especially in emerging countries, such as India and China, to expand their geographical presence. For instance, in 2015, FGX International, a subsidiary of Essilor expanded into India with the launch of its iconic eyewear brand - Foster Grant. Many companies have been acquiring leading regional online eyewear companies to expand their online presence and increase their customer base. Intensive marketing campaigns by prominent companies have increased brand awareness in the global market; thus, leading to the growth of the eyewear market.

 

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