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The global eyewear market is projected to reach $237,051.1 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.
By region, the North America held the largest share in 2020, contributing to nearly two-fifths of the global eyewear market and is projected to maintain its dominant share in terms of revenue by 2030” - Allied Market Research
WILMINGTON, DELAWARE , UNITED STATES, August 24, 2024 /EINPresswire / -- The global eyewear market is experiencing growth due to factors such as a growing visual deficiency and eye defects, collaboration between different institutions to mitigate vision disorder in rural areas, surging living standards and growing fashion trends, and an ageing population. By region, North America garnered the major share in 2020, contributing to nearly two-fifths of the global eyewear market.
According to the report published by Allied Market Research, the global eyewear market garnered $110,900.0 million in 2020 and is estimated to generate $237,051.1 million by 2030, manifesting a CAGR of 8.4% from 2021 to 2030.
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Based on product type, the prescription glasses or spectacles segment held the highest share in 2020, accounting for around three-fourths of the global eyewear market and is expected to continue its leadership status during the forecast period. However, the contact lenses segment is expected to portray the fastest CAGR of 8.8% from 2021 to 2030. The report also studied sunglasses segment.
By region, the North America held the largest share in 2020, contributing to nearly two-fifths of the global eyewear market and is projected to maintain its dominant share in terms of revenue by 2030. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 9.3% during the forecast period.
On the basis of end user, the men segment held the highest share in 2020, accounting for more than half of the global eyewear market and is expected to continue its leadership status during the forecast period. However, the women segment is expected to register the highest CAGR of 8.7% from 2021 to 2030.
Key findings of the study
The global eyewear market size was valued at $110,900.0 million in 2020, and is projected to reach $237,051.1 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.
By product type, the prescription glasses or spectacles segment was the highest contributor to the eyewear market, with $83,439.0 million in 2020, and is estimated to reach $179,852.4 million by 2030, at a CAGR of 8.5% during the forecast period.
By mode of sale, the retail stores segment was the highest contributor to the eyewear market, with $77,153.0 million in 2020, and is estimated to reach $160,825.1 million by 2030, at a CAGR of 8.1% during the forecast period.
By end user, the men segment was the highest contributor to the eyewear market, with $60,576.2 million in 2020, and is estimated to reach $126,576.8 million by 2030, at a CAGR of 8.2% during the forecast period.
By region, North America was the highest revenue contributor, accounting for $41,809.3 million in 2020, and is estimated to reach $85,338.4 million by 2030, with a CAGR of 7.9%.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the current eyewear market trends, estimations, and dynamics of the global eyewear market from 2021 to 2030 to identify the prevailing eyewear market opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry.
The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
The report includes analyses of the regional as well as global market, key players, market segments, application areas, and eyewear market growth strategies.
Leading market players of the global eyewear market
Safilo Group S.p.A.
Fielmann AG
GrandVision
Essilor International S.A.
Luxottica Group S.p.A.
Johnson & Johnson, Inc.
Cooper Companies, Inc.
Prada S.p.A.
Valeant Pharmaceuticals International, Inc.
Carl Zeiss AG
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David Correa
Allied Market Research
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