Eyewear Market Growth Accelerated by Rising Demand for Eye Protection Eyewear
Eyewear Market |
Eyewear refers to products such as spectacles, sunglasses and contact lenses that are designed to improve vision and visual appearance. They protect eyes from sunlight, poor lighting conditions and screen glare. The increasing awareness regarding vision impairments and risks of digital eyestrain has boosted the demand for corrective and protective eyewear globally.
The global
eyewear market is estimated to be valued at US$ 141.5 Bn in 2023 and is
expected to exhibit a CAGR of 8.1% over the forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing health concerns and risk of eye diseases has accelerated the demand
for protective eyewear products which is one of the key trends driving market
growth. Protective eyewear provides safety from UV rays, dust, chemical
splashes and other industrial hazards. With increasing outdoor and professional
activities, the need for eye protection is rising. Manufacturers are
introducing products integrated with features like anti-fog and anti-scratch
coatings that make eyewear more useful under tough conditions. Innovations in
lens material and frame technology also allow producing lightweight and durable
protective gear. This has significantly boosted their popularity among workers
and outdoor enthusiasts globally.
Segment
Analysis
The global eyewear market is dominated by the sunglasses segment. Sunglasses
account for over 60% share of the overall market owing to increasing consumer
preference for designer and fashionable sunglasses for style statements. The
prescription glasses segment is the second largest segment and is expected to
witness steady growth due to rising elderly population worldwide suffering from
vision related issues.
Key Takeaways
Global
Eyewear Market Demand is expected to witness high growth.
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