Eyewear Market to Register Decent CAGR of 6.0% by 2028; Increasing Fashion Trend and Optical Conditions Set to Support Growth Worldwide

The global eyewear market size was USD 105.56 billion in 2020. The market is projected to grow from USD 114.95 billion in 2021 to USD 172.42 billion in 2028 at a CAGR of 6.0% in the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Eyewear Market Size, Share & COVID-19 Impact Analysis, By Product Type (Spectacles, Sunglasses, Contact Lens), By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2021-2028.”

According to our researchers, using spectacles is measured to be a fashion trend in both established and emerging economies. Internationally, there is an elevation in the optical condition incidence such as hypermetropia, myopia as well as astigmatism, among others. For instance, in February 2021, according to the World Health Organization (WHO), globally, there were documented at least 2.2 billion people who suffer from near or distance vision deficiency.

Buying Rate of Glasses and Sunglasses Sternly Affected by COVID-19 Pandemic

The regional spread of the coronavirus has considerably impacted the sales of sunglasses, contact lenses, and prescribed eyeglasses, and sunglasses. Moreover, government organizations across the world had inflicted stringent lockdown regulations in the early phase of the pandemic spread. This resulted in the shutdown of ophthalmic clinics as well as retail stores selling glasses for a prolonged period.

Moreover, the adjournment of non-emergency eye examination schedules has also triggered a dip in sales income of several players functioning in this market.

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

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

Lenskart Launches Vision Fund for Selective Startups in Eye-care Segment

Lenskart, which is an Omni-channel D2C eyewear brand, has declared its strategy to make an investment worth USD 2 million each in startups that are associated with the eyewear, eye-care as well as Omni-channel retail segments. The fund is said to have a total of USD 20 million.

The release stated admission to Lenskart’s vertically incorporated supply chain, technology heap for enabling Omni-channel retail, and tech proficiency in building revolutionary technologies for eyewear is expected to offer selective startups the appropriate ecosystem to form consumer-centric, technology-derived products and services.

Rising Alertness among People about Adverse Impacts of Ultraviolet Rays to Thrust Growth

The sunglasses division is estimated to grow at the speediest CAGR in the market for eyewear owing to the rising consciousness concerning the dangerous influences of UVA and UVB rays on eyesight. Moreover, in emerged nations, there is a rising embracement of sportswear sunglasses among the common public.

The extensive product offering by producers is reinforcing the demand for sunglasses across the world. Therefore, pooled with this, the common public is too embracing prescribed sunglasses for vision alteration and safeguarding from UV rays. This is further contributing to the eyewear market growth.

Competitive Landscape

Collaborations among Corporations to Fortify their Brand Image in Global Market

Crucial players in the market are incessantly determining for operative tactics to endorse their products and establish their positions in the market. One such stunning tactic is to unveil novel products by teaming up with other companies in the market to encompass their reach to end-users.

Industry Development

• May 2021: Snap Inc. stated the presence of next-generation glasses that has features of lightweight display glasses and which can be used through immersive AR.

List of Key Players Covered in this Market Report

• Alcon (Part of Novartis AG) (Switzerland)


• EssilorLuxottica (France)


• CooperVision (U.S.)


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


• Bausch Health Companies Inc. (U.S.)


• Carl Zeiss (Germany)


• Fielmann AG (Germany)


• Safilo Group S.p.A (Italy)


• Other Prominent Players

Further Findings

• The spectacles segment was estimated to hold the major eyewear market share in 2020. The segment is projected to maintain its dominating position at the end of the forecast period. It held 79.1% and 77.6% in terms of share in the global and the U.S. market for eyewear, respectively.


• North America generated USD 30.87 billion in 2020 in terms of revenue and is expected to hold the highest share in the market throughout the forecast period.

Table of Segmentation