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| Global Eyewear Market Size |
Eyewear includes products such as prescription frames, reading glasses, sports
eyewear, sunglasses, goggles, and contact lenses. Eyewear products provide
vision correction benefits and also aid in protecting eyes from environmental
hazards such as UV rays. Growing concerns over vision care and increasing
health awareness among consumers are majorly driving the demand for eyewear
products.
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
2023-2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The increasing fashion conscious population is driving the demand for trendy
and designer eyewear products globally. Consumers are willing to spend more on
branded and high-quality eyewear products for style statement as well as
functional benefits. Major eyewear brands such as Ray-Ban, Oakley, TAG Heuer,
and Prada are launching new collections focusing on emerging designs and
materials to attract fashion-conscious consumers. They are collaborating with
fashion designers and celebrities to promote their products. This rising focus
of brands as well as consumers on design and changing fashion trends in the
eyewear industry is a major factor accelerating the market growth.
Segment Analysis
The global eyewear market is dominated by the sunglasses segment, accounting
for over 30% share. Sunglasses are considered a fashion accessory by many
consumers across regions. The rapidly growing fashion and trendiness associated
with sunglasses, along with increasing disposable incomes, has boosted the
sales of sunglasses globally.
Key Takeaways
Global Eyewear Market Size is expected
to witness high growth. 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 2023-2030.
The Asia
Pacific region currently dominates the global eyewear market with over 40%
share. Growing focus of key players as well as rising disposable incomes in
densely populated countries such as China and India is expected to drive the
growth of the eyewear market in the region. The North American region is
projected to witness the fastest growth during the forecast period. Presence of
major players and rising trend of premium and designer eyewear driven by the
growing fashion consciousness among consumers is fueling the demand for eyewear
in the region.
Key players related content comprises Key players operating in the eyewear
market are Worksite Lighting LLC, DCD Technologies ME FZCO, Azz Inc., Nemalux
Inc. Worksite Lighting LLC is a leading player manufacturing industrial and
commercial lighting solutions. It offers a range of eyewear products for
personnel working in hazardous conditions.
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