Loading...

Eyewear Market is Estimated to Garner $141.3 billion, Globally, by 2020

 
 

quote In 2014, North America dominated the global eyewear market followed by Europe. Asia-Pacific is expected to witness the highest CAGR of 13.5% over the forecast period. Increased adoption of latest fashion trends, easy availability of a wide variety of eyewear coupled with rising disposable income and improved standards of living in countries such as India and China, would boost the market growth. quote

Priyanka Bisht

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

Eyewear Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $141.3 billion by 2020, registering a CAGR of 8.1% during the period 2015-2020. In 2014, North America was the highest revenue-generating region, accounting for 40.6% share of the overall eyewear market. In the same year, prescription glasses/spectacles held a lions share in the product type category. The women eyewear segment is anticipated to grow significantly, registering a CAGR of 8.7% during the forecast period.

View Detail Summary of this report:https://www.alliedmarketresearch.com/eyewear-market

Based on product type, the global eyewear market is categorized into prescription glasses/spectacles, sunglasses and contact lenses. In 2014, the prescription glasses/spectacle segment dominated the eyewear market, contributing approximately 3/5th of the overall eyewear market revenue. The sunglasses segment accounted for 25.7% share and is estimated to grow at a CAGR of 9.1% during the forecast period. This growth is attributed to increased awareness among consumers about the harmful effects of UV rays on eyes. In addition, growing inclination of consumers towards latest fashion trends has fostered the growth of the sunglasses segment. However, the contact lenses segment is anticipated to grow rapidly, registering a CAGR of 12.0% during 2015-2020.

Being a touch & feel product, consumers prefer retail stores for purchasing eyewear, especially spectacles and sunglasses. Based on mode of sale, retail stores accounted for a significant market share in 2014. Some of the prominent companies have focused on establishing retail outlets in the emerging economies to expand their geographical presence and increase their customer base. Online platforms, have exhibited a robust growth, owing to ease of accessibility and availability of a wide range of products at a competitive price. The online mode of sale segment is expected to grow at a CAGR of 14.1% during the forecast period.

Based on end users, the market is segmented into men and women. The men segment accounted for 53.6% share of the eyewear market. However, the women eyewear segment is expected to grow at a faster rate, owing to the increased number of female working population and their growing interest in trendy eyewear products. New products are being launched by market players to cater to the fashion-conscious female consumers and to increase their market share.

Key Findings of Eyewear Market:

  • The eyewear market is expected to exhibit notable growth during the forecast period due to growing aging population, changing lifestyle and increasing vision impairment
  • In 2014, sunglasses segment accounted for 25.7% share of the overall eyewear market, owing to their increasing popularity
  • Men eyewear is the highest revenue-generating segment in the end user segment of eyewear market
  • The online store segment would register a higher growth in comparison with the retail stores, with an anticipated CAGR of 14.1% during the forecast period
  • Asia-Pacific region would be one of the most profitable markets during the forecast period, registering a CAGR of 13.5% during 2015 - 2020

Product launch and acquisition are the key growth strategies adopted by market players to increase their market share and expand their customer base. Essilor International S.A. collaborated with CNRS (the French National Centre of Scientific Research) for scientific research project to enable knowledge-sharing and develop innovative products like cosmetic and disposable contact lenses. The key companies profiled in the report, include Carl Zeiss AG, Essilor International S.A., GrandVision, Johnson & Johnson, Inc., Safilo Group S.p.A., Prada S.p.A., Luxottica Group S.p.A., Valeant Pharmaceuticals, Cooper Companies, Inc., and Fielmann AG.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote 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 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Eyewear Market"
Purchase Enquiry