Global Eyewear Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 8.19 % through 2020 to 2027, reaching US$ XX Mn.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Eyewear Market
Global Eyewear Market Overview:
The global eyewear market size is expected to reach USD XX Bn by 2027, exhibiting a CAGR of 8.19 percent during the forecast period. The increase in the acceptance of influencer marketing methods has led to meaningful consumer interaction, which is anticipated to drive the market during the forecast period. Endorsements by influencers have improved the demand for designer & premium eyewear worldwide.
Key companies using influencer marketing approaches has led consumers to use trendy designs as showcased by celebrities. Greater commitment rates offered by small-influencers is further endorsing emerging eyewear companies to control these plans to capture higher revenue share. Additionally, the acceptance of such marketing approaches allow eyewear companies to generate alertness regarding new product launches, create drives to target dissimilar sections of the society, as well as create a more relatable public image. Increased awareness helps manufactures to penetrate deeper into the market & cater to the requirements of the niche populace, which enables new & established players in the market to confirm continual business practices.
Product Overview:
The technological advancement has added to the new stages of comfort & durability in spectacle manufacturing. Improvements in the spectacle lens manufacturing technology have allowed manufacturers to produce lenses with advanced indexes for wider ranges of spherical power, which advances the functionality & aestheticism of the spectacles. Developing eyewear businesses, with Dresden Optics Pty. Ltd., are leveraging a new type of business model, which allows consumers to customize their frames. This approach has enabled the establishment to start mass-production of spectacles, which are sold at very low prices, hence offering promising growth prospects to the market for eyewear.
Region Overview:
The Asia Pacific led the market for eyewear in 2019. The increasing number of cases of myopia recorded in China is pressing the need to use corrective eyewear. Additionally, key market players like PRADA, operate manufacturing centers in China, to access improved technology & low-value labor.
North America captured a major amount of revenue share in the year 2019. Government rules by numerous federal bodies like the Federal Trade Commission (FTC) & the U.S. Customs & Border Security have caused in the effective & nontoxic use & distribution of eyewear products. The regulators make sure to counter sales & distribution of fake products, thus endorsing companies to practice lucrative, safe, & accountable business models. Furthermore, data published by the FTC showcases an increasing trend of independent Eye care Specialists out-performing other retail chains due to the availability of inexpensive products & cost-effective services, which is pouring the market for eyewear in the Asia-Pacific region.
Competitive Landscape:
Global Eyewear Market1
The objective of the report is to present a comprehensive analysis of the Global Eyewear Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Eyewear Market dynamics, structure by analyzing the market segments and project the Global Eyewear Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Raw material portfolio, growth strategies, and regional presence in the Global Eyewear Market make the report investor’s guide.
Global Eyewear Market, By Product
• Contact Lenses
• Spectacles
Global Eyewear Market, By Distribution Channel
• Offline
• Online
Global Eyewear Market, by Region
• North America
• Europe
• Asia-Pacific
• MEA & Africa
• Latin America
Global Eyewear Market Key Players
• Bausch and Lomb Inc.
• Carl Zeiss AG
• Charmant Group
• CooperVision
• Warby Parker
• EssilorLuxotttica
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