Eyewear Market to be Worth USD 285.20 billion by 2032; Rising Awareness Regarding Ocular Diseases to Drive Market Growth

The global eyewear market size was valued at USD 161.61 billion in 2023 and is projected to grow from USD 170.98 billion in 2024 to USD 285.20 billion by 2032, exhibiting a CAGR of 6.6% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Eyewear Market Size, Share & COVID-19 Analysis, By Product Type (Spectacles, Sunglasses, and Contact Lens), By Distribution Channel (Retail Store, Online Store, and Ophthalmic Clinics), and Regional Forecast, 2024-2032”.

The eyewear products, including spectacles, contact lenses, and sunglasses, protect from harmful Ultraviolet A (UVA) and Ultraviolet B (UVB) sun rays. The increasing awareness regarding ocular diseases is propelling the demand for spectacles globally. The fashion industry is expected to significantly influence the global market during the forecast period.

Increased Disruptions in Eyewear Manufacturing and Transportation During Pandemic Hampered Market Growth

The COVID-19 pandemic negatively impacted the market. The decline was attributed to the increased disruptions in the manufacturing and transportation of sunglasses, contact lenses, and spectacle lenses during the pandemic. The increased postponement of several non-urgent eye examination appointments globally also hampered eyewear market growth during the pandemic. For instance, Johnson and Johnson Services, Inc.’s vision care business segment experienced a decrease of 11.7% in 2020 compared to 2019.

Blue Point Capital Partners Acquired Eyebobs to Expand its Product Portfolio

In April 2023, Blue Point Partners acquired Eyebobs, a premium reading glasses provider. The acquisition is focused on expanding the product portfolio of Blue Point Capital Partners. The acquisition is set to propel the growth for both the companies.

Increasing Incidence of Eye Health Issues to Drive the Market Growth

The increasing incidence of several eye health issues, including ocular disorders globally, is expected to increase the demand for eyeglass products. The high population of individuals suffering from ocular diseases is expected to drive market growth during the forecast period. The increasing availability of sunglasses and spectacles in the online and retail channels globally is estimated to augment market growth. The rapid increase in the geriatric population in developed and developing countries will boost market growth during the projected period.

However, limited use of luxury sunglasses in nations such as Brazil and India is expected to hamper market growth during the forecast period.

Growing Technology Adoption by Key Players to Augment Market Growth

This market consists of key players, such as Alcon and Johnson and Johnson Services, Inc. The increasing adoption of new technologies by these major market players to strengthen their market position is estimated to drive market growth during the forecast period. The increasing number of mergers and acquisitions between the market players is estimated to propel market growth.

Notable Industry Development

• June 2021 – Lenskart invested USD 2 million in startups focusing on eye-care and omnichannel retail industries. Additionally, Lenskart also announced access to various companies through more than 700 retail stores and online channels in the Middle East, the U.S., Singapore, and India.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/eyewear-market-101749

List of the Companies Profiled in the Report:

• Alcon (Switzerland)


• EssilorLuxottica (France)


• CooperVision (U.S.)


• Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.) (U.S.)


• Bausch & Lomb Incorporated (U.S.)


• ZEISS (Germany)


• Fielmann AG (Germany)


• SAFILO GROUP S.P.A. (Italy)


• LUXOTTICA GROUP (Italy)

Further Report Findings-

• North America accounted for USD 45.29 billion in 2022 and is estimated to hold the highest eyewear market share during the forecast period due to the increasing acceptance of vision care products in the region.


• Increasing awareness of ocular diseases and increasing demand for premium eye care products is estimated to drive market growth in Europe.


• Asia Pacific is estimated to witness fastest growth rate in the market due to the increasing adoption of eyeglasses for vision correction in the region.

Table of Segmentation: