Latest News- Eyewear Market: Eyeglass/spectacles is expected to lead the Product segment during 2025-2029
The Eyewear Market is being driven by Increasing prevalence of vision disorders
The Eyewear Market is expected to grow at a CAGR of 10.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 125.9 million. In the current business landscape, online eyewear sales are experiencing significant growth as more emerging players enter the market. To boost sales volume and value, these companies are intensely focusing on digital marketing and promotional strategies. By leveraging the online channel, vendors can reduce operational costs and expand their customer base. In response to evolving consumer preferences, market participants are offering customization services, including virtual fitting and home trials, to enhance customer satisfaction in the eyewear industry. The integration of customization options, particularly in eyewear, is a key trend aimed at increasing customer satisfaction rates.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Eyeglass/spectacles, Sunglass, Contact lenses) Distribution Channel (Offline, Online) Geography (Europe, North America, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Eyewear Market Research Report
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The eyewear market is experiencing significant growth due to rising cases of eye defects and disorders, particularly among the young generation and female consumers, who are increasingly using digital devices. Fashion trends, gadgets, and celebrities influence the demand for trendy and branded eyewear, including clear glasses, bright translucent frames, light-adaptive lenses, and multifocal toric lenses. Developing economies and female professionals also contribute to the market's growth. Essilor and other eyecare technology companies are innovating with eco-friendly eyewear and lifestyle-influenced designs to meet consumer preferences.
The eyewear market is a significant segment of the larger global textiles, apparel, and luxury goods market. This market encompasses entities involved in the production and distribution of vision correction products, including eyeglasses and contact lenses. Factors driving growth in this sector include the increasing prevalence of eye disorders and defects, particularly among the young generation, who are heavy users of digital devices. Fashion trends also play a crucial role, as eyewear serves both functional and aesthetic purposes. The rising standard of living and increasing disposable income are further boosting demand for high-end, designer eyewear. The market's expansion is expected to continue, fueled by these trends and the overall growth of the parent market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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