Global eyewear market has been witnessing significant growth over the past few years. Changing lifestyle patterns and increasing adoption of luxurious accessories among millennial are driving the market growth. Encouraged by the strongly rising product demand, eyewear makers are focusing on developing attractive and affordable eyewear. These people are introducing new designs and patterns to quickly respond to the current fashion trends and attract fashion enthusiasts. Continuous efforts by leading market players to acquire new customers and retain existing ones are positively influencing the market growth. Growing consumer preference for fashionable eyewear products beyond basic need is a major factor propelling the market growth. Changing lifestyle and rising health awareness has boosted the demand for sunglasses and reading glasses. Rising disposable income levels coupled with the advent of e-commerce has made quality eyewear affordable and accessible to masses. Other factors including increasing number of opticians, ophthalmologists, and awareness campaigns for eye care are further boosting the sales of spectacles, contact lenses, and other vision correcting products worldwide.
Market Dynamics:
The key drivers influencing the growth of global eyewear market are changing consumer lifestyles, growing focus on aesthetics, and rising awareness about eye health and vision disorders. Increasing youth population, rapid urbanization, and ability to purchase are also positively impacting the eyewear sales. However, the availability of low quality counterfeit products and a strong presence of local unorganized players are some of the major challenges faced by established brands. Meanwhile, the development of new technologies related to frames, lenses, and vision correction is opening newer opportunities for market expansion. Growing demand for premium and customized lenses, smart glasses and non-prescription sunglasses present high growth prospects going forward.
Key Features of the Study:
Detailed Segmentation:
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