Spectacles Market to Grow at a CAGR of 7.4% during the Forecast Period; Growing Occurrence of Ocular Diseases to Propel Market Expansion

The global spectacles market size was valued at USD 122.10 billion in 2024. The market is predicted to grow from USD 130.23 billion in 2025 to USD 214.58 billion by 2032, showcasing a CAGR of 7.4% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Spectacles Market Size, Share & Industry Analysis, By Product Type (Frames and Lenses), By Modality (Prescription and OTC), By Distribution Channel (Retail Stores, Online Stores, and Ophthalmic Clinics), and Regional Forecast, 2025-2032”. 

Spectacles are specialized tools that provide vision correction to patients with eye disorders, including myopia, hypermetropia, and others. This includes devices such as prescription glasses, spectacle lenses, frames, and over-the-counter products.

The growing instances of vision disorders among people from different regions are leading to a rise in diagnosis rates, thus contributing to the growing adoption of spectacles in the market. Additionally, advancements in technology and growing consumer preferences for the product are also leading the market growth. With growing premium product ranges, spectacles are used as a fashion statement in various developing and emerging countries.

The COVID-19 pandemic adversely affected the global market in 2020. Factory shutdowns due to labor scarcities and supply chain interruptions hindered market expansion amid the pandemic.

HOYA Corporation Introduced a Novel Hi-Vision Meiryo Coating to Boost Product Offerings

In April 2024, a new Hi-Vision Meiryo coating was launched by HOYA Corporation. This offers spectacle users a superior clarity that lasts for a longer duration. This has strengthened the firm's product portfolio and reputation globally.

Growing Prevalence of Ocular Diseases to Augment Market Growth

Eye disorders, including farsightedness and near-sightedness, are growing, which has resulted in increasing diagnosis and treatments among patients. This supports the augmenting demand for different vision corrective devices, including spectacles. Moreover, the aging population, which is highly susceptible to ocular disorders, also contributes to the spectacles market growth. Key players across the globe are investing in research and development activities, which have led to the development of innovative products, thus fuelling market growth. Governments across different countries are also promoting regular eye check-ups, resulting in the growing adoption of the product.

Conversely, the presence of various alternative treatments for refractive errors is hindering market growth.

Top Players Emphasize Collaborations and Partnerships to Strengthen Their Market Presence

The global market is highly fragmented as numerous players operate in the market, making it highly competitive. Among these players, EssilorLuxottica leads the market in terms of revenue generation, mainly due to new product introductions and strategic partnerships with other key players. Additionally, some companies are also focusing on acquisitions to bring new opportunities and enhance their brand presence in the market.

Notable Industry Development

• September 2023: EssilorLuxottica launched the Ray-Ban Reverse Collection. This was introduced in the travel retail locations in Italy and Switzerland over a collaborative installation with Dufry.

List of the Companies Profiled in the Report:

• SAFILO GROUP S.P.A. (Italy)
• Carl Zeiss Meditec AG (Germany)
• HOYA Corporation (Japan)
• EssilorLuxottica (U.S.)
• Warby Parker (U.S.)
• Oakley, Inc. (U.S.)
• Prada (Italy)
• RODENSTOCK GmbH (Germany)

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

https://www.fortunebusinessinsights.com/industry-reports/spectacles-market-101953

Further Report Findings

• Asia Pacific held the highest spectacles market share, attributed to the growing number of eye examinations, increasing the focus of different retail eyewear firms on acquisitions and mergers to strengthen their product presence.
• North America is set to register the second-highest market share, driven by the well-established healthcare infrastructure in the region and government support for regular eye check-ups, increasing the prescription rate for the product.
• Market expansion in Europe is due to the growing focus of key players on manufacturing innovative spectacles as well as the increasing number of regional populations opting for prescribed eyewear products.
• In terms of product type, the lenses segment dominated the market majorly due to the growing prevalence of eye disorders. Additionally, businesses are focusing on research and development initiatives to develop new lenses, leading to segmental growth.
• Based on modality, the prescription segment dominated the market due to its growing benefits, including stronger lenses, efficacy, and enhanced diagnosis and precise monitoring of the disease.

Table of Segmentation