Eyewear Market Growth Gains an Impetus with Increasing Awareness about Eye Care Regimes
The global prevalence of ophthalmological diseases such as myopia, glaucoma, conjunctivitis, etc., and this is triggering the need for eyewear products worldwide. The global eyewear market is primarily driven by the regional demographic trends, such as increasing awareness about vision health. Increasing consumer awareness regarding regular eye checkups is expected to contribute to the positive growth prospects of the eyewear market during the forecast period.
According to the Essilor Company, approximately 63% of the total population across the world needs vision correction procedure. However, approximately 42% share of the total patients either use eyewear accessories or take eye care treatments. Currently, there is an increasing awareness of new hidden growth opportunities among players regarding eyewear products provided by campaign and advertisement through social media networks.
In 2018, Gunnar Company launched a new collection of blue light reading glasses as safety measure to protect the vision of digital device users. This helped the company to increase its sales by targeting young population and attracting customers that spend a significant amount of time in front of computer.
Modern Fashion Trends to Boost Demand for Attractive Eyewear Products
The sunglasses market is expected to grow rapidly as compared to the spectacles market due to rising trend pertaining to wear sunglasses among customers. Moreover, the trend of wearing sunglasses is not hindered by lasik eye treatment and not limited to any age category. Thus, prominent players in the market are more focused on high sales of sunglasses through product innovation and thorough launch of new designs at a regular interval of time.
Moreover, the changing trend pertaining to the fashion industry is booming the sales of goggles across the world, which in turn, is fueling the demand for eyewear products. Thereby, new fashion trends are reflecting in the growing popularity of modern eyewear products such as plano sunglasses. However, due to high prevalence of lasik eye operations around the globe, patients are creating an aversion to spectacles, contact lenses, and eye care accessories.
Changing Lifestyle and Continuous Surge for Trendy Accessories
Change in the lifestyle of individuals is inspiring them to purchase sunglasses, frames, and lenses according to the ongoing fashion trends. Premium range of eyewear are available earlier to selected stores, and are not easily accessible. However, in present scenario, global eyewear players are penetrating in the developing economies with an aim to cater the high demand. Also, consumers longing for experiencing the luxury eyewear is influencing the growth of the eyewear market. Further, players introducing new products in markets with affordable price in premium range also make the eyewear market highly competitive.
The eye health industry is developing at a significant pace, from evolution of eyeglasses to the soft contact lenses. In this developing phase, the aim of manufacturers or researchers is to search and develop the technology or product that will support individuals throughout their lives. These advancements in the eye health industry is one of the factors driving the global eyewear market growth.
Demographic Changes to Play Major Role in Dictating Manufacturers’ Strategies
Change in demographics in different regions across the globe plays an important role for the eyewear industry to grow structurally. Demographic dynamics such as eye problems, age factor, disease (myopia, glaucoma, etc.), penetration of eye health awareness, and fashion style among youngsters are factors that drives the global eyewear market growth. Moreover, rising youth population is changing the perception of using eyewear products.
Urbanization, increasing adoption of changing lifestyles, and growing disposable income create a major demand for prevention and correction of vision issues. Demographic changes are rapid in emerging markets, prevailing mostly in the middle class population where easy accessibility to international brands in the eyewear market is high. Most of manufacturers of the eyewear market are targeting these emerging economies to expand their eyewear business.
Most of the key players in the eyewear market are principally engaged in offering eyewear products through their own online sales channel and third e-Commerce parties. Selling eyewear through physical stores as well as online help companies to target customers across the globe. This trend is increasing significantly in the developing countries due to increasing internet and smartphone penetration.
A brief overview of changing the landscape of the eyewear market has led our analysts to conclude that, the market is exponentially gaining popularity. The demand from developing as well as developed countries holds a specific prominent share of the eyewear market. Demand for premium and luxury eyewear products is increasing from developed regions such as North America and Europe. On the other hand, developing countries are estimated to hold a significant share in the eyewear market. Experiencing the trending demand for eyewear products make market players keen to invest in product innovation.
Eyewear Market - Scope of the Report
Persistence Market Research (PMR) recently published a new research analysis on the eyewear market for the assessment period of 2019-2029. The research study offers a close look at the evolving aspects of the eyewear market and dynamics impacting the market growth. It also focuses on the key developments that have made the mark in the eyewear market and what other developments are on the cards. The report talks about various macro and micro-economic factors responsible for giving in-depth analysis of the market.
The research study on the eyewear market extensively focuses on the key trends shaping its growth. In addition, opportunity analysis on eyewear underlines untapped corners for the aspiring players to make a note of. In addition, this research study on the market also offers a panoramic view of the incremental opportunity, which can further help readers make well-informed decisions.
Several stakeholders in the eyewear market can rely on the data offered in this research study and delve into the pragmatic decision-making. Moreover, information offered in the report also can help new market entrants to expand their bases in the market.
The report elaborates on both the historical and current trends molding the growth of the market. The performance of eyewear has been drawn and analyzed in ways that the lucrative side of the market is evident to readers. Competitive landscape provided in the report gives a detailed outlook of profiles of the key companies operating in the market, along with their differential strategies and key focus areas.
Eyewear Market: Segmentation
PMR’s research study on the global Eyewear market offers a detailed market taxonomy, wherein the key segments have been discussed in detail. The segmentation of the eyewear has been offered on the basis of product type, price range and distribution channel. Every segments have been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
Multi-brand Stores Direct Selling
The eyewear market research report includes a competitive landscape that provides a dashboard view of the key competitors operating in the market. Some of the market players profiled in this section include Luxottica Group SpA , Essilor International S.A, Carl Zeiss AG, Hoya Corporation (Life Care), Johnson & Johnson Vision Care, Inc., Cooper Companies Inc., Fielmann AG, Safilo Group Spa, Marcolin S.p.A. and De Rigo S.p.A.
Eyewear Market: Key Questions Answered
The research study offers inclusive insights about the growth of the market in the most comprehensible manner for the better understanding of users. The key insights offered in the Eyewear market answer some of the salient questions that assist stakeholders in gauging all the emerging possibilities.
Eyewear Market: Research Methodology
A unique and promising research methodology forms the base of the eyewear market during the forecast period. The report has been prepared after a comprehensive analysis of the market happenings, and riveting insights have been compiled meticulously. The research methodology for the eyewear market is a two-step process comprising of primary and secondary research. Key stakeholders, including eyewear product suppliers, and manufacturers, and experts of several designations, including executive vice presidents, directors, service engineers, technical advisor, GM marketing professionals, and sales professionals have been interviewed.
The secondary sources referred to garner the report findings include investor presentations of manufacturers, Eyewear Industry Report, American Optometric Association, and many other credible sources.