According to FutureWise analysis the market for eyewear in 2023 is US$ 13.97 billion, and is expected to reach US$ 27.07 billion by 2031 at a CAGR of 8.62%.
Products used to correct vision or shield the eyes from various external factors, such as light, harmful radiation, debris, and drastic environmental changes, are referred to as eyewear. It comprises eyewear such as sunglasses, glasses, contact lenses, and a wide range of frames and lenses that are often constructed of glass, carbon fiber, and plastic. It helps to increase visual clarity and shield the retina and lens of the human eye from ultraviolet (UV) radiation damage. In addition, it is used to reduce the chance of acquiring a number of eye diseases and issues, including myopia, hypermetropia, and presbyopia.
The frequency of eye disorders among younger generations is predicted to increase, as is the need for UV protection eyewear, rising investments, and technological breakthroughs. New growth opportunities will be created by advancements in spectacle lens technology, such as creating scratch-, fog-, and UV-ray-resistant lenses. The eyewear market is expected to increase rapidly due to urbanization, economic expansion, distribution network expansion, the growing importance of social media, and improvements in sunglasses design and lens technology. Technology has accelerated the pace of new breakthroughs in eyewear goods. New eyewear technologies are expanding the market's potential.
FutureWise Market Research has published a report that provides an insightful analysis of eyewear market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, the eyewear market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.