Key Highlights
- The global eyewear market was valued at approximately $138.4 billion in 2022
- The eyewear segment is expected to grow at a CAGR of around 4.4% from 2023 to 2030
- Approximately 2.7 billion people worldwide needed vision correction in 2022
- The majority of eyewear sales (over 60%) are for prescription glasses
- The optometry services market is projected to reach $55 billion by 2025
- Contact lenses hold about 22% of the global eyewear market
- The online optical retail segment is growing at a CAGR of over 8%
- The largest market for eyewear is Asia-Pacific, accounting for about 50% of the global market
- The average price of a pair of prescription glasses is around $300
- Blue light blocking glasses are becoming mainstream, with revenue expected to reach $3 billion by 2025
- Nearly 60% of adults in the US wear glasses or contact lenses
- The eyewear industry is seeing a shift toward sustainable materials, with 35% of consumers preferring eco-friendly options
- Millennials make up approximately 40% of the eyewear market
The eyewear industry is soaring into a $138.4 billion global market, driven by surging demand for prescription glasses, innovative smart and eco-friendly designs, and rapid growth in online retail, signaling a transformative era for vision care and fashion worldwide.
Consumer Demographics and Behavior
- Nearly 60% of adults in the US wear glasses or contact lenses
- The eyewear industry is seeing a shift toward sustainable materials, with 35% of consumers preferring eco-friendly options
- Millennials make up approximately 40% of the eyewear market
- The female eyewear market accounts for approximately 55% of total sales
- More than 80% of US adults over 40 experience some degree of presbyopia
- About 90% of children in the US who need vision correction do not wear glasses
- The average replacement cycle for sunglasses is approximately 2 years
- The demand for customized and personalized eyewear is increasing, with over 40% of consumers interested in bespoke options
- The average age of eyewear consumers is increasing, with a significant rise in buyers over 50 years old
Consumer Demographics and Behavior Interpretation
Market Size and Growth Trends
- The global eyewear market was valued at approximately $138.4 billion in 2022
- The eyewear segment is expected to grow at a CAGR of around 4.4% from 2023 to 2030
- Approximately 2.7 billion people worldwide needed vision correction in 2022
- The optometry services market is projected to reach $55 billion by 2025
- Contact lenses hold about 22% of the global eyewear market
- The online optical retail segment is growing at a CAGR of over 8%
- Blue light blocking glasses are becoming mainstream, with revenue expected to reach $3 billion by 2025
- The global sunglasses market was valued at around $23 billion in 2022
- The Asia-Pacific region is expected to dominate the eyewear market through 2030, with a CAGR of 5%
- The prevalence of myopia is increasing globally, projected to affect 50% of the world’s population by 2050
- The fashion eyewear segment is growing faster than prescription eyewear, with a CAGR of about 5%
- The penetration of smart eyewear (AR/VR) is expected to reach 15% of the market by 2030
- The use of 3D printing in eyewear manufacturing is expected to grow at a CAGR of 7% through 2028
- The global market for anti-reflective coatings on eyewear is projected to reach $5 billion by 2028
- Casual and sports eyewear is a growing segment, with an estimated CAGR of 6%
- The global market for luxury eyewear is projected to reach $15 billion by 2027
- The global industrial safety eyewear market is expected to grow at a CAGR of 7% through 2028
- The percentage of pair of glasses with anti-scratch coating has increased to over 65%
- Eyewear e-commerce sales accounted for approximately 20% of total eyewear sales globally in 2022
- The COVID-19 pandemic accelerated online sales of eyewear by 15-20%
- The use of eco-friendly and recycled materials in eyewear frames is expected to grow at a CAGR of 6% through 2027
- The number of independent eyewear retailers worldwide is decreasing due to market consolidation, with a decline of 10% over the last five years
- The average profit margin for retail eyewear stores ranges from 30% to 50%, depending on brand and location
- The use of polarized lenses in sunglasses has increased by 20% in the last five years
- The annual global marketing spend on eyewear advertising exceeds $1 billion
- The fastest-growing segment within the eyewear industry is prescription sports eyewear, with a CAGR of 6.5%
- The global demand for prescription lenses is projected to grow to over 5 billion units sold annually by 2025
- Manufacturing of eyewear using sustainable bio-based plastics increased by 15% in 2022
- The penetration of designer and luxury eyewear in emerging markets is expected to reach 25% by 2026
- The number of consumers purchasing eyewear via subscription services is growing at 12% annually
- The use of anti-fog coatings on eyewear has increased 35% in the last two years
- The growth of AI-powered personalized lens recommendations is expected to increase sales by 10% annually
Market Size and Growth Trends Interpretation
Product Segments and Styles
- The majority of eyewear sales (over 60%) are for prescription glasses
- The average price of a pair of prescription glasses is around $300
- The average lifespan of a pair of glasses is about 2 years
- The most popular eyeglass frame styles in 2023 are oversized square and round frames
- The adoption rate of rimless glasses is increasing, with about 30% of consumers preferring this style
- The most common materials for eyewear frames are plastic (about 70%) and metal (around 25%)
Product Segments and Styles Interpretation
Regional Markets and Industry Dynamics
- The largest market for eyewear is Asia-Pacific, accounting for about 50% of the global market
- The average cost of healthcare glasses in Europe ranges from €50 to €150, depending on the features
- The optical retail sector is consolidating, with the top 10 companies holding over 50% of market share in many regions
Regional Markets and Industry Dynamics Interpretation
Technology and Innovation in Eyewear
- The adoption of digital try-on technology in eyewear stores has increased by over 30% in the past three years
- The number of patents filed related to augmented reality glasses has increased by over 50% in the last three years
Technology and Innovation in Eyewear Interpretation
Sources & References
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