Global Market Research Reports : Ken Research: Eyewear Raw Material Suppliers

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Thursday, June 8, 2023

Global Eyewear Market is expected to reach ~USD 200 Bn by 2028F: Ken Research

Global Eyewear Market By Geography

The Global Eyewear market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. Europe accounted for the largest market share in 2022 within the total Global Eyewear Market.

Europe has the largest eyeglass market, making up the bulk of the global market. This can be attributed to the region's growing taste for high-end eyewear products as well as the manufacturers' increasing attention to the creation of novel eyewear product styles, shapes, and sizes.

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Competition Scenario In Global Eyewear Market

The Global Eyewear Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Large global players hold the highest market share of 40% which is followed by the regional players holding a 35% share. Some of the major players in the market include Johnson & Johnson Vision Care, Inc., Essilor Luxottica, Bausch & Lomb Inc., Cooper Vision, Carl Zeiss AG., CIBA VISION, Safilo Group S.p.A., De Rigo Vision S.p.A, Fielmann AG, Marcolin SpA., HOYA Corporation, and others.

What Is The Expected Future Outlook For The Overall Global Eyewear Market Across The Globe?

The Global Eyewear market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Eyewear market is driven by rise in R&D activity in herbal ingredients. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing collaboration and emergence of new products, the Global Eyewear market is changing rapidly. For instance, In July 2021, Essilor introduced a new at-home screening software to encourage the general population to schedule an eye exam with their nearby independent practice. The My Vision Check app enables users to perform a quick eye exam at home before directing them to their local practice for a comprehensive eye exam.

In July 2021, Warbly Parker updated its online prescription renewal service. It has released an app, Virtual Vision Exam, which provides an at-home vision test that offers a refreshed prescription so that users can buy eyeglasses or contact lenses.

In August 2021, as part of its well-known JINS&SUN brand, JINS Eyewear introduced a fresh range of biodegradable sunglasses. The newest collection of sunglasses from JINS&SUN debuted in the USA and featured sophisticated frame designs made of biodegradable, bioplastic materials.

The Global Eyewear Market is forecasted to continue a gradual growth that is witnessed during the forecast period. Key trends driving market expansion include the increasing adoption of luxurious accessories among millennials, the surge in visual impairment among children, and an increasing geriatric population. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

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Key Topics Covered in the Report

Snapshot of the Global Eyewear Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Eyewear Market
Historic Growth of the Overall Global Eyewear Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Eyewear Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Eyewear Market
Future Market Forecast and Growth Rates of the Total Global Eyewear Market and by Segments
Market Size of Product/ End User Segments with Historical CAGR and Future Forecasts
Analysis of the Eyewear Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

Johnson & Johnson Vision Care, Inc.
EssilorLuxottica
Bausch & Lomb Inc.
CooperVision
Carl Zeiss AG.
CIBA VISION
Safilo Group S.p.A.
De Rigo Vision S.p.A
Fielmann AG
Marcolin SpA.
HOYA Corporation.

Notable Emerging Companies Mentioned in the Report

Allure Eyewear L.L.C.
Eyeking, LLC
Optical Express Ltd.
Norville Optical
Pearle Vision
Mister Spex

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

Spectacles Manufacturers
Lenses Manufacturers
Sunglasses Manufacturers
Spectacles Frame Manufacturers
Spectacles Frame Designers
Sunglasses Frame Designers
Health and Medical Authorities
Environmental Protection Authorities
Investors interested in Healthcare Industry
Eyewear Exporters
Optical Engineering Companies
Lens Designer Companies
Eyewear Brands Distributors
Eyecare Research Institutes
Government Ministries and Departments of Healthcare

Time Period Captured in the Report

Historical Period: 2017-2021
Forecast Period: 2022E-2028F

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Global Eyewear market

Monday, November 7, 2022

3 Key Insights on Competitive Landscape in Global Eyewear Market: Ken Research

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Country-Niche Players and Regional Players constitute ~60% and ~35% respectively Despite the Presence of about ~500 Competitors, find a Recent Market Study on Global Eyewear Market

Global demand and supply for various types of eyewear are rising as a result of greater awareness of these products. A good market growth rate is being caused by the increasing accessibility of a wide variety of eyeglasses through both online and offline forms of distribution.

Ken Research shares 3 key insights on this high-opportunity market from its latest research study.

Large Global Players Hold Around 40% of the Market Share Followed by Regional Players Holding ~35%

A comprehensive competitive analysis conducted during the Research Study found that the Global Eyewear Market is competitive with ~500 players which include globally diversified players, and regional players, as well as a large number of country-niche players.

According to the research, the Large Global Players held the dominant position in the market in 2021, in terms of the market share with about ~40% followed by regional players which account for ~35% of the market share. The global players in this market are highly focused on implementing advanced technologies to manufacture their lenses and optics. These players also indulge in partnering with local manufacturers for a stronger and more efficient distribution network.

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Players are Increasingly Investing in the Eyewear Industry which is Promoting the Market Growth.

Encouraged by the rising consumer demand for their products, eyewear manufacturers concentrate on creating stylish and reasonably priced eyewear. To quickly respond to current fashion trends and draw in fashion fans, they are releasing fresh designs and patterns. The key market players' ongoing efforts to win new clients and keep hold of existing ones are having a favorable impact on market statistics.

Not just key players but also emerging players are expanding in the Eyewear industry and are also investing in strategies like collaborations and technological development to compete in the industry.

In January 2022, the eyewear retailer Lenskart opened 73 locations across 46 cities and 19 states in India. The majority of the 73 stores that were opened were in Kerala, Tamil Nadu, Karnataka, and Telangana. Along with various other states, the company also opened stores in Assam, Bihar, West Bengal, Jammu & Kashmir, Himachal Pradesh, Chhattisgarh, Gujarat, and Punjab.
In December 2021, Smith imprint 3D technology was introduced by Safilo Group to handle a variety of facial shapes and features without using a one-size-fits-all approach to sports apparel.

Increased Adoption of Eyewear in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins

In May 2022, Mojo Vision announced the launch of smart contact lenses for its real-world testing with a variety of features, including the world's tiniest and densest 14,000 pixels per inch MicroLED display at just 0.5 millimeters (mm) in diameter and a pixel-pitch of only 1.8 microns. It aids in continuous eye tracking using specially designed accelerometers, gyroscopes, and magnetometers with an eye-controlled interface, which guarantees a 10 times improvement for creating an eye-controlled user interface.

In May 2022, after a decade of launching "Google Glass," Alphabet Inc. developed smart eyeglasses, a wearable computing device, to translate between different languages in real-time utilizing the most recent advancements in artificial intelligence (AI). The audience was shown a prototype of this at the Google I/O developer conference. Compared to the first Google Glass, which allowed users to record what they saw, this device is more dissimilar from a regular pair of glasses. The translations involved in English, Mandarin, American Sign Language, and Spanish can be seen on new devices.