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The global eyewear market size was valued at USD 171.56 billion in 2024. The market is projected to grow from USD 181.75 billion in 2025 to USD 285.44 billion by 2032, exhibiting a CAGR of 6.7% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Eyewear Market Size, Share & Industry Analysis, By Product Type (Spectacles {Frames and Lens}, Sunglasses {Plano and Prescription}, and Contact Lens {Toric, Multifocal, and Sphere}), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmic Clinics), and Regional Forecast, 2025-2032”.
The market comprises spectacles, sunglasses, and contact lenses, offering vision correction and UV protection. Spectacles remain the preferred choice due to rising awareness of ocular diseases and increasing vision disorders such as myopia and presbyopia. Growing demand for eyewear as a fashion accessory and technological advancements in sunglasses and contact lenses are driving market growth.
The market faced a sharp decline due to the COVID-19 pandemic induced lockdowns, clinic closures, and postponed eye exams. Supply chain disruptions further impacted sales. In 2021, market recovery began as restrictions lifted and e-commerce demand surged. With industry stabilization, steady growth is anticipated from 2022 onward.
Alcon launched PRECISION7 to Combine Cost-Effectiveness of Reusable Lenses
In November 2024, Alcon introduced PRECISION7, the first 1-week replacement cycle contact lens in the U.S. Designed to combine the cost-effectiveness of reusable lenses with the ease of daily disposables, the product strengthens Alcon’s market position.
Increasing Prevalence of Ocular Disorders to Boost Market Growth
The rising prevalence of vision disorders such as myopia and presbyopia, coupled with reluctance toward vision correction, has led to a growing global population with impaired vision. Uncorrected refractive errors remain a leading cause of blindness. Increasing product availability across retail and online channels, along with rising disposable incomes in emerging markets such as India and Brazil, is driving demand for premium sunglasses. Additionally, the aging population is fueling demand for corrective eyewear, supporting overall eyewear market growth.
However, the continuous improvements in laser eye surgery are making procedures safer and more precise, limiting the demand for corrective eyewear.
Industry Participants Focus on Product Launches to Boost their Brand Reputation
The highly fragmented eyewear market witnesses EssilorLuxottica at the forefront, leveraging new product launches and partnerships. In August 2023, the company introduced the Varilux XR Series, an AI-driven lens for enhanced vision. The Cooper Companies Inc. continues to expand through R&D-driven innovation. Other key players include Carl Zeiss Meditec AG and Hoya Corporation. The rising prevalence of vision disorders and growing demand in emerging markets will fuel new market entrants by 2032.
List of Key Players Mentioned in the Report:
Key Industry Development:
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https://www.fortunebusinessinsights.com/industry-reports/eyewear-market-101749
Further Report Findings
Table of Segmentation
ATTRIBUTE |
DETAILS |
Study Period |
2019-2032 |
Base Year |
2024 |
Estimated Year |
2025 |
Forecast Period |
2025-2032 |
Historical Period |
2019-2023 |
Growth Rate |
CAGR of 6.7% from 2025 to 2032 |
Unit |
Value (USD Billion) |
Segmentation |
By Product Type
|
By Distribution Channel
|
|
By Region
|