Global Eyewear Market Size expected to expand and reach a market value of USD 185 Billion by 2024 at a CAGR of 5.5% during the period of 2019 and 2024. A variety of eyewear have been introduced by companies with different characteristics to cater to the demand for convenient, durable, and innovative products. The global eyewear market is monopolistically competitive in nature due to the presence of several vendors and customers in the market and limited barriers for the entry of new players. To overcome the challenges in the global eyewear market outlook, prominent players are focusing on product launches, partnerships, mergers & acquisitions, and expansions in terms of production capacity and geographic reach. This is expected to drive the demand for eyewear among consumers across the world.

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Segmentation

The global eyewear market report has segmented the market by type, distribution channel, and region.

Based on product type, the global eyewear market has been segmented into spectacles, sunglasses, contact lenses, and others. The spectacles segment is projected to be the largest during the forecast period. Increasing concerns about eyesight-related issues and increasing cases of eye disorders are expected to boost the eyewear market growth. Additionally, the increasing aging populations is widely preferring the prescription-based spectacles to tackle visual deficiencies and cure refractive errors. The sunglasses segment is expected to register the highest growth rate during the review period owing to the presence of new and advanced products in the market. For instance, prescription sunglasses is expected to be a more convenient option for outdoors. Prescription sunglasses help with visual deficiency as well as protection from UV rays.

By distribution channel, the global eyewear market report has segmented the market into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, specialty stores, and others. The store-based segment is projected to account for the larger market share due to the widespread availability of variety of eyewear in supermarkets and hypermarkets. Moreover, there is a higher preference for store-based channels as they provide a one-stop shopping experience where the consumers can try out the products and then purchase them. However, the non-store-based segment is projected to register the higher CAGR due to the increasing adoption of e-commerce in the retail sector.

Key Players

Some of the key players in the global 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).

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Regional Analysis

The global eyewear market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, and the rest of the world.

The market in Europe is expected to dominate the global eyewear market owing to the growing preference for premium eyewear, changing eyewear trends, and availability of wide range of options. The growing preference of the consumers for branded eyewear products is expected to pave the way for the market players to capitalize on lucrative prospects. Also, due to the changing trends regarding the use of various types of eyewear in countries including Italy and France, there has been a rise in the creation of new products, to meet the growing market demands, which have been successfully marketed in other regions.

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5july-19 The global sports eyewear market rising demand for lightweight goggles or sunglasses with dynamic designs is expected to be a key growth-driving factor for the market. The market is also driven by the shifting customer preferences owing to increasing awareness about safety during sports and physical activities. Customer acceptance for several types of safety, as well as fashionable, eyewear is fueling the demand further.

In addition, rising awareness about the benefits of using sports eyewear during outdoor sports, physical activities is likely to contribute to the demand. Europe was the largest regional market in 2018 and accounted for a global share of 34.8%. Asia Pacific is expected to be the fastest-growing regional market with a CAGR of 5.4% from 2019 to 2025. Major companies are entering the lucrative markets of APAC region, such as India and China, to gain competitive edge and increase product penetration. For instance, in March 2019, Under Armour, Inc. opened retail outlet in India. According to the company, the country has huge growth potential owing to shifting focus of customers on health and wellness.

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Further key findings from the study suggest:

• In terms of revenue, ski sports is projected to be the fastest-growing application segment at a CAGR of 4.9% from 2019 to 2025

• Offline distribution channel segment led the global sports eyewear market in 2018 and accounted for a volume share of 63.52%

• Europe was the dominant regional market in 2018 and is likely to maintain its position throughout the forecast period

• This growth is attributed to the rising awareness about health and wellness in countries including Germany, U.K., and France, which is promoting the spending on adventure sports including water sports and trekking

• Key companies in the market include Luxotica Group SpA; Nike, Inc.; Adidas AG; Xenith, LLC.; Carl Zeiss AG; Marchon Eyewear, Inc.; MYKITA GmbH; Under Armour, Inc.; First Rank Co. Ltd.; Zoggs International Ltd.; Aqua Lung International; and Speedo International

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights

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Chapter 3. Sports Eyewear Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis

Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations

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17 December 2018, The U.S. Online Eyewear Market is expected to reach USD 505.4 million by 2025, primarily driven by increasing penetration of Internet of Things (IoT) in the eyewear and optics market. Increasing awareness regarding eye care coupled with rising number of cases with blindness and low vision are expected to drive the market over the forecast period. Availability of wide range of products such as sunglasses, spectacles, contact lenses, Rx. Sunglasses for both men and women across all the websites in the U.S. is further anticipated to fuel the market demand. Approximately, 2.9 million Americans have low vision which makes the region potential market base for new as well as existing players. Around 1.3 million Americans are blind, and this number is expected to reach around 2.1 million by 2030. Moreover, increasing prevalence of eye disorders such as Age-related Macular Degeneration (AMD), Glaucoma, Diabetic Retinopathy, Cataract and Refractive Error are projected to fuel the demand for online purchase of eyeglasses.

 Additionally, busy lifestyle within working population in the U.S. prefer online shopping of accessories and other essential day to day goods. This trend is expected to drive the industry demand for online sale of sunglasses, spectacles and contact lenses over the forecast period. Continuous availability of schemes and offers on online portals to attract customers is one of the major reason for online purchase of eyewear. This trend is likely to continue and benefit the market growth by 2025.

The glasses segment generated highest revenue in 2017 and is estimated to do so over the forecast period on account of wide range of products offered by the manufacturers under the segment. Rising popularity of sunglasses as well as trendy eyeglasses is further driving the market in future. Eyeglasses and sunglasses manufacturers are concentrating on launching new products to the consumers which are readily available for sale on online platforms. Contact lenses are expected to show linear growth on account of perception of buying contact lenses through offline means which include retail shops after consulting ophthalmologists. Daily disposable contact lenses are expected to gain popularity on account of its less price compared to counterparts.

Additionally, services which includes complete customization of sunglasses as per requirements are gaining popularity in the U.S. For instance, Luxottica Group S.p.A. (Ray-Ban) provides completely customized sunglasses according to the requirement of the customer. Such strategies are expected to drive the online eyewear market over the future period.

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The key players in the market include LensCrafters, ZENNI OPTICAL, Motion Global Limited, EYEBUYDIRECT.COM, Luxottica Group S.p.A. and many more. The online eyewear industry in the U.S. is characterized by presence of many well-established players providing online as well as offline sales of their products. The players in the market are concentrating on providing latest trends in the fashion world and somehow incorporating the design philosophy in the sunglasses models to attract potential as well as existing consumers.

Key players in the industry are offering latest models and designs of products to the consumers. For instance, Ray-Ban launched Scuderia Ferrari Collection which includes design philosophy mix and matched by Ray-Ban and Ferrari S.p.A. dedicated to the SCUDERIA FERRARI which is a Formula 1 team.

Hexa Research has segmented the U.S. online eyewear market report based on end-use:

Segmentation by end-use:

• Glasses
• Contact Lenses

Key players analyzed:

• Luxottica Group S.p.A.
• Bausch & Lomb Incorporated.
• ZENNI OPTICAL
• GlassesUSA
• Frames For America, Inc.

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