Wearing eyewear is intended to shield the eyes from external factors or to enhance visual impairment. Contact lenses, sunglasses, goggles, and eyeglasses are common eyewear items. Because they are the newest trend on the market, people are adopting fashionable and designer sunglasses and using them to make a statement. Safety glasses are often used in the construction sector to shield workers from flying debris. The senior population has a high need for eyewear products since they are more likely to have various vision-related problems.
The global eyewear market is expected to be driven by demographic trends including aging, eye diseases like myopia and glaucoma, young people's fashion sense, and growing awareness of eye health. Additionally, the growing older population is increasing demand for ready-made reading glasses and prescription eyewear, which will likely propel the expansion of the eyewear market. Additionally, it is anticipated that increasing urbanization, increased disposable income, and changing lifestyle preferences would fuel eyeglasses industry expansion. It is anticipated that rising medical equipment costs would encourage people to purchase more eyewear and contact lenses.
The international Eyewear Market is anticipated to grow at a 6.0% CAGR from 2019 to 2027.
Key Companies in the Eyewear Industry:
1. Luxottica Group SpA
Luxottica Group SpA was founded in 1961 and headquartered in
Milan, Italy. It operates across 150 countries. To complement the release of the Varilux XR range, its ground-breaking progressive lens innovation revealed earlier this year at the MIDO Eyewear event in Milan, the Group just started a new consumer advertising campaign in July 2023.
2. Essilor International S.A
Essilor International S.A was established in 1849 and has its headquarters in France's Charenton-le-Pont. It works in more than 150 nations. The €48 billion merger between Italian eyeglass manufacturer Luxottica Group SpA and French lens manufacturer Essilor International SA was completed in October 2018, creating one of the biggest companies in the eyewear sector.
3. Carl Zeiss AG
Carl Zeiss AG branded as ZEISS, is a German company that produces optical systems and optoelectronics. It was established in 1846, and its headquarters are in Baden-Württemberg. It is active in nearly 50 nations. In May 2023, Elrica Global Enterprises Pvt. Ltd. (E.G.E.P.L.) will officially open the first ZEISS VISION CENTER in Mumbai, according to Carl Zeiss India (Bangalore) Pvt. Ltd., a world leader in optics and optoelectronics. The vision care and eyewear options available to Mumbai residents will change thanks to this state-of-the-art facility.
4. Hoya Corporation (Life Care)
Hoya Corporation (Life Care) is a Japanese firm that was established in 1941 and has its headquarters in Tokyo, Japan. It has operations in 52 nations.
5. Johnson & Johnson Vision Care, Inc.
Johnson & Johnson Vision Care, Inc. was founded in 1976 and headquartered in Santa Ana, California & Jacksonville, Florida. It operates in 60 countries. Johnson & Johnson Vision, a world leader in eye health and a Johnson & Johnson MedTech Company**, announced in April 2023 that it will present 30 sets of research at the Association for Research in Vision and Ophthalmology (ARVO) 2023 Live and Virtual Annual Meeting on topics such as astigmatism, refractive technology, sphere, intraocular lenses, and consumer eye health.
6. Cooper Companies Inc.
Cooper Companies Inc. was founded in 1958 and headquartered in California, U.S. It operates in 30 countries. In March 2023, all eye care professionals in the United States will be able to purchase CooperVision® MyDay Energys® contact lenses, marking a significant advancement in treating the signs of pervasive digital eye strain. With the statewide distribution, the incredibly distinctive lens makes its premiere on a global scale.
7. Fielmann AG.
Fielmann AG. was founded in 1972 and headquartered in Hamburg, Germany. It operates in across Germany, Switzerland and Austria and in 14 European countries. A renowned manufacturer of European eyewear, The Fielmann Group, announced in June 2023 that it would enter the US market through two complementary acquisitions. This is a significant advancement in the German family business's internationalization of its Vision 2025 growth ambition
8. Safilo Group Spa
Safilo Group Spa was founded in 1934 and headquartered in
Padua, Italy. Safilo Group and American lifestyle brand Kate Spade New York will announce the early renewal of their global eyewear licensing agreement for the exclusive design, manufacturing, and distribution of Kate Spade New York branded optical frames, readers, and sunglasses for women in June 2023. Safilo Group is a key player in the eyewear industry for the design, manufacturing, and distribution of prescription frames, sunglasses, outdoor eyewear, goggles, and helmets. Safilo Group has held the license since 2000.
9. Marcolin S.p.A.
Marcolin S.p.A. was founded in 1865 and headquartered in Milano, Italy. It operates in 80 countries.
10. De Rigo S.p.A.
De Rigo S.p.A. was founded in 1978 and headquartered in Veneto, Italy. It operates in over 80 countries.
*Definition: Eyewear is a term used to describe all items placed over one or both eyes of a person, or occasionally just one eye, for a number of reasons.
