Eyewear Market Size, Share, Trends, Industry Analysis Report, By Product (Spectacles, Lenses, and Sunglasses), Distribution Channel, End User, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025-2034
- Published Date:Feb-2025
- Pages: 129
- Format: PDF
- Report ID: PM1020
- Base Year: 2024
- Historical Data: 2020-2023
Eyewear Market Overview
The eyewear market size was valued at USD 197.99 billion in 2024. The market is projected to grow from USD 213.99 billion in 2025 to USD 437.86 billion by 2034, exhibiting a CAGR of 8.3% during the forecast period (2025-2034).
Eyewear encompasses a variety of products worn over the eyes for different purposes, primarily for vision correction and aesthetic appeal. The product includes glasses, sunglasses, contact lenses, and goggles. Eyewear also protects the eyes from harmful ultraviolet (UV) rays from the sun.
The eyewear market is experiencing growth due to changing lifestyle patterns and the increasing adoption of luxurious accessories among millennials and Gen-Z. Eyewear makers are responding to this by focusing on developing attractive and affordable eyewear. The major market players are making continuous efforts to acquire new customers and retain existing ones, which is positively impacting eyewear market statistics.
Eyewear companies are focused on enhancing the consumer experience by offering new facilities and innovative products. For instance, in July 2021, Essilor launched the My Vision Check app, which allows users to conduct screening at home before booking an appointment for a complete eye examination with their local practice. Warby Parker also introduced a new app called Virtual Vision Test in July 2021, which offers an at-home vision test similar to what eye specialists provide and offers a renewed prescription that consumers use to purchase glasses or contact lenses.
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Eyewear Market Driver Analysis
Increasing Prevalence of Eye Health Issues Worldwide
The increasing prevalence of eye health issues is propelling the eyewear market growth. According to the report published by the World Health Organization in August 2023, 2.2 billion people have near or distant vision impairment globally. Corrective eyewear, including prescription glasses and contact lenses, has become essential for a larger segment of the population as the prevalence of eye health issues, such as myopia, hyperopia, and astigmatism, is increasing globally. Moreover, growing awareness about eye health and the importance of regular eye check-ups encourages people to invest in high-quality eyewear, which boosts the eyewear market revenue.
Increasing Geriatric Population Globally
The increasing geriatric population globally is supporting the eyewear market expansion. According to data published by the United Nations, the number of people aged 65 years or older worldwide is projected to more than double, rising from 761 million in 2021 to 1.6 billion in 2050. Older adults are more prone to age-related eye conditions, such as presbyopia, cataracts, macular degeneration, and glaucoma, which require corrective or protective eyewear to maintain visual clarity and eye health. Furthermore, the aging population's improved access to healthcare and growing awareness of preventive eye care encourage regular eye examinations and timely adoption of vision correction solutions such as spectacles and lenses.
Eyewear Market Insight by Segment
Eyewear Market Assessment by Product
Based on product, the eyewear market is categorized into spectacles, lenses, and sunglasses. The spectacles segment accounted for the major eyewear market share in 2024 due to the increasing prevalence of vision disorders such as myopia, hyperopia, and presbyopia. A surge in digital device usage across all age groups has worsened eye strain and vision problems, compelling more individuals to seek corrective solutions. Spectacles offer an accessible and customizable option, catering to diverse consumer needs with various lens types, coatings, and frames. Technological advancements, such as anti-glare and blue-light-blocking lenses, have further enhanced their appeal. Additionally, the growing trend of treating spectacles as a fashion accessory has spurred demand for stylish frames, especially among younger consumers. The spectacle's affordability compared to alternatives such as contact lenses or surgical interventions has also contributed to its dominance.
Eyewear Market Evaluation by Distribution Channel
In terms of distribution channels, the eyewear market is divided into ophthalmic clinics, retail stores, and online stores. The online stores segment is expected to grow at the fastest pace during the assessment period owing to technological advancements and shifting consumer preferences toward e-commerce. The rise of virtual try-on tools and AI-powered recommendations has addressed the challenge of selecting products without physical interaction, significantly enhancing the online shopping experience. Competitive pricing, promotional offers, and home delivery services have made online platforms increasingly appealing, especially to younger, tech-savvy consumers. The COVID-19 pandemic accelerated the shift toward digital channels, with many consumers embracing the convenience of ordering eyewear products from the comfort of their homes.
Eyewear Market Outlook by Region
The global eyewear market, based on region, is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2024 due to the high awareness of vision health, a strong focus on regular eye examinations, and widespread access to advanced healthcare services. The rising prevalence of vision disorders such as myopia and presbyopia, driven by aging populations and increased digital device usage, significantly contributed to the region's market dominance. Consumers in North America show a strong preference for high-quality and technologically advanced products, including blue light-blocking lenses and progressive glasses, further propelling market growth. The region's robust retail infrastructure, including large optical chains and independent optometrists, ensures easy accessibility to a wide range of eyewear products, contributing to the eyewear market expansion.
The market in Asia Pacific is expected to witness a significant CAGR in the coming years owing to rapid urbanization, rising disposable incomes, and a growing focus on vision care. Increasing screen time among the younger population, particularly in countries such as China and India, has led to a surge in demand for corrective and protective eyewear solutions. Government initiatives to promote vision health and improve access to affordable eye care services have further spurred market growth in the region. China, in particular, stands out as a key country in the Asia-Pacific's growth due to its large population base and significant investments in healthcare infrastructure. The rising adoption of stylish and functional products as fashion statements among younger demographics also plays a crucial role in driving eyewear product demand in the region.
Eyewear Market Key Companies and Competitive Analysis Report
Major market players are investing heavily in research and development in order to expand their offerings, which will help the eyewear market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including innovative launches, international collaborations, higher investments, and mergers and acquisitions between organizations.
Some of the major players operating in the global market include Luxottica Group S.p.A.; Bausch + Lomb Inc.; Johnson & Johnson Vision Care; Carl Zeiss AG; GrandVision; Essilor International S.A.; Cooper Companies, Inc.; Fielmann AG; Safilo Group S.p.A.; Prada S.p.A; Hoya Corporation; and De Rigo SpA.
Luxottica Group S.p.A. is an Italy-based eyewear multinational corporation headquartered in Milan. Founded in 1961, it has grown to become the world's one of the largest eyewear companies. Luxottica operates as a vertically integrated company, managing the design, manufacturing, distribution, and retail of its eyewear brands through its subsidiaries. In October 2018, Luxottica merged with Essilor to become EssilorLuxottica. Luxottica manages a diverse portfolio of proprietary and licensed brands. Its house brands include Ray-Ban, Oakley, Persol, Oliver Peoples, Alain Mikli, Arnette, Costa del Mar, and Vogue Eyewear.
Carl Zeiss AG, branded as ZEISS, is a German manufacturer of optical and optoelectronic systems founded in Jena, Germany, in 1846. ZEISS is active in four business segments: industrial quality and research, medical technology, consumer markets, and semiconductor manufacturing technology. ZEISS has operations in almost 50 countries, with 30 production sites and around 25 development sites worldwide. ZEISS offers a wide array of products, including lithography optics, microscopes, measuring technology, photomask systems, medical technology products, eyeglass lenses, camera and cine lenses, and binoculars.
Key Companies in the Eyewear Market
- Luxottica Group S.p.A.
- Bausch + Lomb Inc.
- Johnson & Johnson Vision Care
- Carl Zeiss AG
- GrandVision
- Essilor International S.A.
- Cooper Companies, Inc.
- Fielmann AG
- Safilo Group S.p.A.
- Prada S.p.A
- Hoya Corporation
- De Rigo SpA
Eyewear Market Developments
July 2024: EssilorLuxottica signed an agreement to acquire Optical Investment Group and establish its optical retail footprint in Romania to strengthen its prevailing occupancy in the region and consistently follow its objective of providing high-quality vision care worldwide.
June 2024: Bausch + Lomb announced the launch of Bausch + Lomb INFUSE for Astigmatism daily disposable contact lenses in the United States to offer clear, stable vision and all-day comfort and minimize contact lens dryness.
February 2021: Johnson and Johnson Services, Inc. obtained a CE mark for the ACUVUE OASYS MULTIFOCAL contact lens, which is designed for people with presbyopia.
March 2021: JINS eyewear introduced its JINS&SUN sunglasses brand in the United States, featuring 29 shapes and 84 styles.
Eyewear Market Segmentation
By Product (Revenue, USD Billion, 2020-2034)
- Spectacles
- Lenses
- Sunglasses
By Distribution Channel Outlook (Revenue, USD Billion, 2020-2034)
- Ophthalmic Clinics
- Retail Stores
- Online Stores
By End User Outlook (Revenue, USD Billion, 2020-2034)
- Male
- Female
- Unisex
- Kids
By Regional Outlook (Revenue, USD Billion, 2020-2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Eyewear Market Report Scope
|
Report Attributes |
Details |
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Market Size Value in 2024 |
USD 197.99 billion |
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Market Size Value in 2025 |
USD 213.99 billion |
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Revenue Forecast in 2034 |
USD 437.86 billion |
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CAGR |
8.3% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020– 2023 |
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Forecast Period |
2025 – 2034 |
|
Quantitative Units |
Revenue in USD Billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
• The global eyewear market size was valued at USD 197.99 billion in 2024 and is projected to grow to USD 437.86 billion by 2034.
• The global market is projected to grow at a CAGR of 8.3% during the forecast period.
• North America had the largest share of the global market in 2024.
• Some of the key players in the market are Luxottica Group S.p.A.; Bausch + Lomb Inc.; Johnson & Johnson Vision Care; Carl Zeiss AG; GrandVision; Essilor International S.A.; Cooper Companies, Inc.; Fielmann AG; Safilo Group S.p.A.; Prada S.p.A; Hoya Corporation; and De Rigo SpA.
• The online stores segment is projected for significant growth in the global market.
• The spectacles segment dominated the eyewear market in 2024.
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