Transparency Market Research (TMR), a market intelligence and research firm, has published a research study on the global eyewear market. The report pegs the overall value of this market in 2011 at US$81.0 bn. Further, it predicts that the worldwide eyewear market will reach a value of US$130 bn by the end of 2018.
According to the research report, titled “Eyewear Market - Global Industry Analysis, Size, Share, Growth and Forecast 2012 - 2018”, in terms of demand, the global eyewear market will reach a capacity of 2,600 units in 2011. Analysts project the market to develop at a CAGR of 3.70% during the period from 2012 to 2018.The markets for spectacles, contact lenses, and plano sunglasses are the main product segments of the global eyewear market. Among these, the spectacles market leads the global eyewear product market. In 2011, the spectacles market stood at a valuation of around US$63 bn and according to market experts, this segment will show extensive growth over the forecast period owing to the increasing number of individuals who uses and who needs eyewear.
Apart from this, the report analyzes the market for contact lenses, which is also showing signs of remarkable growth owing to the increasing awareness regarding the benefits and convenience of use offered by contact lenses.Asia Pacific, Europe, North America, and the Rest of the World are described as the major regional market in this report. The North America eyewear market led the global eyewear market in 2012, holding over 30% of the overall eyewear market. The demand for contact lenses and sunglasses in North America has exhibited rapid increase in the recent past, stimulating the regional market’s development.
On the other hand, in terms of revenue, the eyewear market in Europe held around 40% of the overall market in 2011, positioning itself as the highest gainer for that year, states the report. However, the Asia Pacific eyewear market is expected to post the fastest development over the forecast period at a CAGR of 9.0% on account of the dense population, resulting in the rising usage of eyewear in this region. In Asia Pacific, India and China are likely to emerge as the largest eyewear markets over the forecast period.
The research report profiles major eyewear market participants to analyze the competitive landscape of the market. CIBA Vision Inc., Marchon Eyewear, Johnson & Johnson Vision Care, Luxottica, Safilo, CooperVision, Carl Zeiss, Fielmann, De Rigo, Specsavers Optical, Vision Express, Essilor Int., Bausch & Lomb, and Hoya Corp. are the major players operating in the global eyewear market.While, Johnson & Johnson, CIBA vision, CooperVision, and Bausch & Lomb are the dominant players of the market for contact lenses, Essilor and Carl Zeiss lead the global market in the spectacle lenses segment. On the other hand, Safilo and Luxottica lead the plano sunglasses market, states the market study.
The global eyewear market is segmented into:
By Product Type
- Spectacle lenses
- Spectacle frames
- Contact Lenses
- Plano Sunglasses
By Distribution Channel
- Retail outlets
- Healthcare service providers
- Online portals
- North America
- Rest of the World
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