Eyewear - Worldwide

The global eyewear market is expected to experience robust annual growth over the next five years, driven by shifting consumer megatrends, transforming market structures, and technological innovations. Ageing is one of the most significant global demographic factors impacting eye care, as the need for vision correction increases and becomes more complex as a person grows older. Additionally, increasing screen time, especially among youngsters, might cause more serious effects than previously thought, supporting the constant demand for preventive eye care.

- Customer preferencesConsumers worldwide are becoming increasingly health-conscious, and this trend is driving the demand for eyewear products that offer both vision correction and protection from harmful UV rays. The demand for eyewear products that incorporate advanced technology, such as smart glasses and contact lenses, is also on the rise. Customers are looking for products that are both functional and fashionable, with a focus on quality and durability.- Trends in the marketThe eyewear market in the Asia-Pacific region is expected to experience the highest growth over the next five years, with a CAGR of 8.1%. This growth is driven by an increasing number of people requiring vision correction due to ageing populations, rising disposable incomes, and changing consumer preferences. The market in North America is also expected to grow, with a CAGR of 6.4%, driven by an increasing prevalence of eye disorders and a growing awareness of the importance of preventive eye care.In Europe, the eyewear market is expected to experience moderate growth, with a CAGR of 4.3%. This growth is driven by an increasing prevalence of myopia and hyperopia, as well as an ageing population. The market in Latin America is expected to grow at a CAGR of 4.2%, driven by an increasing demand for eyewear products and rising disposable incomes.- Local special circumstancesIn the Asia-Pacific region, the eyewear market is highly fragmented, with a large number of small and medium-sized players. This fragmentation is expected to continue over the next five years, as local players continue to dominate the market. In North America, the market is dominated by a few major players, such as Luxottica and Essilor, which are expected to continue to hold a significant market share over the next five years.In Europe, the market is characterized by a high level of regulation, which is expected to limit the entry of new players into the market. In Latin America, the market is highly competitive, with a large number of players competing for market share.- Underlying macroeconomic factorsThe global eyewear market is being driven by a number of underlying macroeconomic factors, including an ageing population, rising disposable incomes, and changing consumer preferences. The increasing prevalence of eye disorders, such as myopia and hyperopia, is also driving demand for eyewear products. Additionally, technological innovations, such as smart glasses and contact lenses, are expected to drive growth in the market over the next five years.The eyewear market is also being impacted by changing consumer trends, such as an increasing focus on health and wellness, and a growing awareness of the importance of preventive eye care. The market is also being impacted by changing fashion trends, with consumers demanding eyewear products that are both functional and fashionable.Overall, the global eyewear market is expected to experience robust growth over the next five years, driven by a combination of changing consumer preferences, technological innovations, and underlying macroeconomic factors. While the market is expected to experience the highest growth in the Asia-Pacific region, there are also significant growth opportunities in North America, Europe, and Latin America.