Market Overview
Eyewear is an integral part of eye protection and fashion statement. The global eyewear market is at growing at faster speeds and is expected to face a growth rate of around 06 percent annually. The manufacturers are continuously looking for new designs and technologies to enhance their presence in the market. As there are fewer regulations for entering the market, so there is a storm of new players in the market. Hence increasing the competition within the market and is propelling the market to expand its wings.
The growing awareness about the eye-related diseases and prescribed eyewear has also accounted for faster growth of the market. Damage to the eyes from blue light emission by continue viewing of computer, mobile and televisions have also played a significant role in expanding the market growth. Contact lenses segment has also played its part in adding to the market share. Contact lenses made from silicone polymers provide enhanced breathability, which is shifting the trend from spectacles to adopting contact lenses. There is a rise in eye diseases like cataract, myopia, hypermetropia and astigmatism has also increased the demand for customized eyewear.
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The global eyewear market possesses a danger from fake eyewear producers and also is a danger for the health of eye of the users. Fake eyewear producers are providing the replicas for relatively lower prices, and their vast distribution network is decreasing the revenue generation and market share globally.
Key Players
Some of the key players in theGlobal Eyewear Market are The Cooper Companies Inc. (US), Carl Zeiss AG (Germany), Bausch Health Companies Inc. (Canada), Safilo Group S.p.A. (Italy), Fielmann AG (Germany), Luxottica Group S.p.A. (Italy), Johnson & Johnson Vision Care, Inc.(US), GrandVision (Netherlands), Alcon Vision LLC (US), Marchon Eyewear Inc. (US), De Rigo Vision S.p.A. (Italy), Essilor International (France), Rodenstock GmbH (Germany), Marcolin SpA (Italy), and Charmant Inc. (US).
Recent Industry News
Eyewear industry will gain maximum from spectacles segment and will continue to lead other sectors. The American market is the biggest currently, whereas the Asia Pacific market is the fastest grosser among all. The fake eyewear production chains pose a danger to the market and are already damaging the markets. Also, the new market players are responsible for increasing the market within the market and for long term survival companies must keep on working for new models and innovations in this industry.
Industry Segments
Global Eyewear Market is segmented into two parts:Types: Spectacles, sunglasses and contact lenses are some of the eyewear present in the market. The spectacles will dominate the global market with the highest growth rate during the survey period.
Supply: All the eyewear products are available through stores and online mediums. The offline retail mediums are expected to rule the market due to issues related to fitting and eye testing.
Regional Overview
America, Europe, Asia Pacific and The Middle East & Africa are the major global eyewear markets.
The American region is the primary eyewear market due to increased demand for eye care methods and demand for the latest sunglasses. Increased disposable incomes and awareness regarding the ocular diseases are helping the market to stay stable.
The Asia Pacific market is the next in the queue. Still, it is expected to show the fastest growth rate due to increasing awareness about the eye-related diseases, large population base and rapid increase in the per capita income which has increased the demand for high-end eye wears. The European region is facing a surge in the market growth due to rising demands for fashionable items and options available.
The Middle East & African regions are growing at sluggish rates due to low economic growth and limited disposable incomes. They will continue at the same speed during the whole survey period.
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