Eyewear Market to Reach USD 245.11 Billion By 2027
Market Summary: The growing number of eye disorders, the growing aging population, and the increasing trend of eyewear becoming a fashion accessory are driving the demand for the market. Market Size – USD 138.06 Billion in 2019, Market Growth - CAGR of 7.6% Market Trends – High Demand from Developing Nations. The global Eyewear market is forecast to reach USD 245.11 Billion by 2027, according to a new report by Reports and Data. The eyewear market is witnessing a surge in demand owing to the rising number of eye diseases and growth in the aging population across the globe. Moreover, the increasing trend of eyewear becoming a part of fashion and luxury is fostering the market demand. However, the shift to newer technologies, such as laser surgeries, is hampering the market demand. Further key findings from the report suggest : • Contact lenses are likely to grow at the highest CAGR of 9.5% in the forecast period, mainly due to the increasing trend of consumers adopting contact lenses because they increase the individual appeal of a person. • The Asia Pacific region dominated the market for eyewear in 2019 and is expected to grow at the fastest rate of 8.3% in the period 2020-2027. • Spectacles contributed to the largest market share of 76.0% in 2019 and is anticipated to grow at a rate of 7.4% in the forecast period. www.reportsanddata.com
Key participants : Marchon Eyewear, Johnson & Johnson Vision Care, Bausch & Lomb, Carl Zeiss AG, CooperVision, Charmant Group, Fielmann AG, Safilo Group, CIBA Vision, and Luxottica Group, among others. Segmentation: • Product Outlook (Revenue, USD Billion; 2017-2027) Spectacles Contact Lenses Shades Other Products • End-User Outlook (Revenue, USD Billion; 2017-2027) Men Women Unisex
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Regional Outlook for Eyewear Market analyzes the following geographies ◦ North America (United States, Canada, and Mexico) ◦ Europe (Germany, France, UK, Russia, and Italy) ◦ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) ◦ South America (Brazil, Argentina, Colombia, etc.) ◦ Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa
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The report emphasizes the following key questions: ◦ Q.1. What are the most lucrative and promising growth prospects for the market? ◦ Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? ◦ Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes? ◦ Q.4. Which factors are impacting the future of the market and what are the driving factors? ◦ Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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