Spectacles Market

Spectacles Market size is USD 118.02 Billion in 2021 and expected to reach USD 183.39 Billion by 2028 with the CAGR of 6.50% over the forecast period.

Scope of The Report:

Manufacturers aim on supplying the increasing requirement for spectacles created using different materials. Increasing popularity of trendy designs such as oversized square glasses and cat-eye frames in trendy materials, colors, and sizes is predicted to bode well for the development of market. High requirement for transparent and clear framed glasses is also predicted to positively impact development of the spectacle market in coming future.

Eyewear consists of accessories that are put over the eyes for correction of vision or to defend eyes from harmful radiations, debris, or excessive light. Eyewear comprises lenses, spectacles, and sunglasses worn for protection of eyes from dust particles and harmful UV lights or vision correction. Factors such as rising growing geriatric population, life span, and altering fashion trends have powered the demand for spectacles, all over the world. In the current scenario, users not only use spectacles for vision correction, but also for improving one’s appearance. Various market players provide innovative lenses and spectacles, due to availability of lightweight materials and technological advancements. Emerging nations, such as China and India are showing a rapid development in the spectacles market.

The world spectacles market is divided by end user, product type, geography, and v mode of sale. By product type, the market is divided into sunglasses, prescription glasses/spectacles, and contact lenses. The end users comprise women and men, and the mode of sale included online and retail stores.

Spectacles Companies

The major players included in the global spectacles market forecast are

• Johnson & Johnson Vision
• Essilor
• ZEISS International
• CIBA VISION
• ZENNI OPTICAL, INC.
• HOYA Corporation
• Lenskart
• Warby Parker
• MODO
• Titan Company Limited.

 

 

Increasing Cases Of Refractive Errors, Particularly Amongst Teen Population Is Predicted To Power The Growth Of Market

Increasing cases of refractive errors, particularly amongst teen population is predicted to power the growth of market. Moreover, inclination for prescription glasses for effective vision correction as compared to contact lenses is predicted to positively power the growth of market.

High occurrence of vision issues amongst teen generation due to technical disadvantages of extended employment of televisions, smartphones, computers, and other digital devices is predicted to power the requirement for spectacles. Elevated danger of CVS (Computer Vision Syndrome) is predicted to power the requirement for anti-glare glasses and in turn power the growth of the global market in the coming period.

Almost 90% of China’s young adults and teens in 2017 were impacted by myopia or nearsightedness, needing corrective lens for clear vision. Influence of entertainment personalities and media, commoditization of eye wear sector, and readiness to splurge on fashionable spectacles are some of the factors powering the product requirement. Increasing fashion consciousness amongst millennials paired with accessibility of a broad series of trendy spectacles is predicted to power the market. Increasing requirement for plastic frames due to their ease of repairing and enhanced durability is predicted to power the growth.

Key Market Segments:

By Parts: 

• Frames
• Lens

Distribution Channel: 

• Offline
• Online

Market by Regional Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

North America Had The Biggest Share Of The Market And Is Claimed To Continue The Same

North America had the biggest share of the market and is claimed to continue the same. Rising occurrence of vision impairment caused due to elevated employment of smartphones, laptops, computers, and other devices is predicted to power the product demand. Factors such as increase in elderly population and occurrence of presbyopia are predicted to power the regional spectacles market.

Asia Pacific is predicted to observe the quickest CAGR in the forecast period, owing to high occurrence of myopia among young adults and children. Almost 80–90% teen population in Japan, China, South Korea, and Singapore has myopia. As per the National Health Commission, almost 53% of adolescents and children in 2018 from China were having the condition. Such high occurrence is predicted to power the regional requirement. Furthermore, quick increment in working people in China, India, and Vietnam is predicted to power the requirement for computer glasses.