Eyewear Market Growth: From $201.18B in 2024 to $405.52B in 2033

Written by Mahesh Chavan » Updated on: December 31st, 2024

Straits Research, a leading provider of business intelligence, is pleased to announce the release of its latest report on the global Eyewear Market. This report provides an in-depth analysis of market trends, growth drivers, and key opportunities, offering valuable insights for stakeholders and industry players.

Market Insights

The global Eyewear Market size was valued at USD 201.18 billion in 2024 and is projected to reach from USD 217.48 billion in 2025 It is estimated to reach USD 405.52 billion by 2033, growing at a CAGR of 8.10% during the forecast period (2025–2033). This robust growth is driven by increasing consumer awareness about eye health, rising fashion trends, and the growing prevalence of vision-related issues.

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Market Definition and Latest Trends

The Eyewear Market encompasses the production and sale of various types of eyewear, including spectacles, contact lenses, and sunglasses. These products are designed to correct vision, protect the eyes from harmful UV rays, and serve as fashion accessories.

Refractive surgeries such as LASIK and PRK (Photorefractive keratectomy) are gaining public acceptance, which may challenge market growth. These procedures correct a person’s vision and attempt to provide a permanent substitute for corrective eyewear. The propensity of this procedure to enhance the quality of life of end-users is expected to negatively impact the contact lens market over the forecast period.

Furthermore, there are various advantages for consumers or users of these operations since they remove the need for prescription eyeglasses. These include convenience, long-term cost reduction, and overall aesthetic appearance. This trend will fuel sunglasses adoption over the next six years. Although LASIK and related procedures may hamper corrective contact lens demand, consumers can use colored or cosmetic contact lenses over some time. However, if users are not satisfied with the results of these surgeries, they can opt to use custom gas-permeable or hybrid contact lenses to improve vision.

Recent trends in the market highlight a growing preference for eyewear that combines functionality with style. There is an increasing demand for blue light-blocking glasses, driven by the rise in screen time due to digitalization. Additionally, sustainable and eco-friendly materials are becoming more popular in eyewear manufacturing, reflecting the broader trend towards environmental consciousness. Technological advancements, such as smart glasses with augmented reality features, are also gaining traction.

Key Opportunity

The Eyewear Market presents significant opportunities for growth, particularly in emerging economies where the adoption of modern eyewear is on the rise. The increasing urbanization and changing lifestyles are driving the demand for convenient and stylish eyewear, creating a favorable environment for market expansion.

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List of Key Players

The report identifies the following key players in the Eyewear Market:

Oakley

Costa

Persol

Arnette

Bolon

The major licensed brands include Dolce and Gabbana

Alain Mikli

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Market Segmentations

By Product (2021-2033)

Contact Lenses

Spectacles

Sunglasses

By Distribution Channel (2021-2033)

E-commerce

Brick and mortar

About Straits Research

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