Reading Glasses Market Size and Trends

The global reading glasses market is estimated to be valued at USD 47.68 Bn in 2024. The market is expected to reach USD 71.45 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.

Key Takeaways of the Reading Glasses Market:

The plastic segment is expected to account for 40.3% of the market share in 2024
The prescription reading glasses segment is projected to represent 64.5% of the market share in 2024
The online retail segment is expected to account for 38.7% of the market share in 2024
North America is projected to lead the global market with a 38.5% share in 2024, followed by the Asia Pacific region, which is expected to hold a 31.8% share

Market Overview:

The aging population globally is one of the major drivers for the increasing demand of reading glasses. As people are now staying active and working even after retirement, the need for reading glasses to aid with near-vision problems has increased significantly over the past decade. The rising prevalence of presbyopia due to increasing geriatric population is expected to push the demand for reading glasses. Additionally, the changing lifestyle and extensive use of digital devices are making young people susceptible to near-vision issues. This, in turn, is anticipated to contribute towards the market growth during the forecast timeline.

Reading Glasses Market Concentration By Players

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Key Developments:

In October 2024, EssilorLuxottica, a dominant player in the global eyewear industry, acquired a 5.1% stake in Nikon. This investment reflects a strategic, long-term commitment to support Nikon's leadership and growth. Although EssilorLuxottica may not be a household name, it commands a significant market presence through ownership of iconic brands like Ray-Ban, Oakley, Persol, and Vogue Eyewear. Furthermore, the company holds exclusive licenses for producing eyewear for prestigious luxury fashion labels, including Prada, cementing its leadership in the industry.
In March 2022, Johnson & Johnson Vision Care achieved a significant milestone with FDA approval for ACUVUE Theravision with Ketotifen. This innovative etafilcon A drug-eluting contact lens combines vision correction with allergy relief, offering a unique solution for individuals suffering from eye allergies while wearing contact lenses.

Top Strategies Followed by Global Reading Glasses Market Players

Established Players: Leading companies like Essilor, Zeiss, and Rodenstock focus heavily on research and development to introduce innovative products. They invest over 5% of their annual revenues in R&D to develop high-performance lenses using new materials and enhance lens attributes like strength, clarity, and lightweight features.
Mid-Level Players: Medium sized players like Fielmann and Vision Express pursue strategies focused on delivering affordable yet quality reading glasses. They introduce budget-friendly product lines targeting price-conscious customers globally. This helps them gain market share in emerging price-sensitive regions.
Small-Scale Players: Small manufacturers focus on niche segments by launching products with unique attributes. For example, companies introduce photochromic or computer lenses targeted at specific user groups like students or professionals. This niche focus helps them stay competitive against larger players.

Emerging Startups - Global Reading Glasses Industry Ecosystem

Innovative Technologies: Startups like Clip and Focus are developing smart reading glasses equipped with features like live text translation and visual enhancement using AI. Focallure introduced myopia management lenses integrated with smart sensors.
Market/Impact: Such innovative technologies have the potential to disrupt the market. Smart sensor-based solutions can track user behavior and help address issues like digital eye strain and myopia in children.
Sustainable Solutions: Startups like Chelios and Re:Vision are focused on developing sustainable product lines. Chelios manufactures reading glasses using recycled aircraft windshields and Re:Vision uses naturally fallen wood for frames.