September 27, 2021
The size of the global eyewear market in 2020 was $ 105.56 billion. The market is projected to grow from $ 114.95 billion in 2021 to $ 172.420 billion in 2028, with a CAGR of 6.0% between 2021 and 2028. Fortune Business Insights ™ publishes this information in a report titled “Eyewear Market, 2021-2028″. According to our expert analysts, people want to wear eyeglasses in their current situation due to increased awareness of optical conditions, coupled with an increased incidence of visual impairment. For example, according to The Lancet Global Health, about 43.3 million people are expected to be blind in 2020, of which 23.9 million are classified as female.
The growing demand for custom-made eyeglasses among wearers is driving the growth of the market. Some people like unique products that meet their needs, such as the shape of the eyes and face, the color and texture of the glasses, and the design and materials of the frame.
This is expected to disrupt sales models to meet end-user demand and therefore offer market growth opportunities in the coming years. To address this trend, eyewear manufacturers such as Topology and PairEyewear are increasingly offering customized eyewear to their customers. These custom eyewear products include eyeglasses with a variety of properties, including UV protection, photochromic eyeglasses, and high index eyeglasses.
In recent years, the integration of digital channels and eyewear value chains has led to a significant increase in sales of eyewear products. The e-commerce sales channel is gradually gaining momentum due to the COVID-19 pandemic, and users are getting closer to society and ordering from home.
Several eyeglass manufacturers, including Lenskart, provide virtual face analysis and product virtualization services to allow users to make calculated purchase decisions about eyeglasses. In addition, setting up digital channels will allow businesses to manage key customer data such as purchase preferences, search history, and reviews, enabling them to offer more targeted products to their customers in the future. ..
New demands for sustainability from eyeglass manufacturers and their customers are changing the dynamics of the market. Eyeglass manufacturers such as Evergreen Eyecare and Modo have begun to use eco-friendly materials in their eyeglass designs. This helps companies practice sustainable development and improve their customers’ journeys.
This trend encourages new eyewear manufacturers to diversify their products, offer their customers more environmentally friendly, cheaper and more unique products, while increasing their share of sales.
Post time: Jan-05-2022