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Global Eyewear Market size was valued at USD 157.51 billion in 2021, and it is expected to reach a value of USD 279.53 billion by 2028, at a CAGR of 8.5% over the forecast period (2022–2028).
The shift in millennials' lifestyle preferences and their growing use of expensive accessories promote market expansion. Encouraged by the rising consumer demand for their products, eyewear manufacturers concentrate on creating stylish and reasonably priced eyewear. In an effort to quickly respond to current fashion trends and draw in fashion fans, they are releasing fresh designs and patterns. The main market players' ongoing efforts to win new clients and keep hold of existing ones are having a favorable impact on market statistics.
The businesses have a tendency to improve the customer experience by providing cutting-edge services and goods. For instance, Essilor launched the My Vision Check app in July 2021 to enable customers to screen at home before scheduling an appointment for a comprehensive eye checkup with their local clinic. With the release of its new app, Virtual Vision Exam, which offers an at-home vision test akin to what eye doctors perform, Warby Parker also updated its online prescription renewal service at this time. It offers customers an updated prescription so they can buy glasses or contact lenses.
Global Eyewear Market Competitive Landscape
The eyewear market is relatively fragmented, with a high level of competition. Few large players, like Charmant Inc., Carl Zeiss AG., and Bausch & Lomb Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Top Player’s Company Profiles
- Johnson & Johnson Vision Inc. (US)
- ESSILORLUXOTTICA SA (France)
- CooperVision (US)
- Carl Zeiss AG. (Germany)
- Bausch & Lomb Inc. (US)
- Safilo Group S.p.A. (Italy)
- Charmant Inc. (US)
- Essilor Korea Co. Ltd. (South Korea)
- CIBA VISION (US)
- De Rigo Vision S.p.A (Italy)
- Fielmann AG (Germany)
- HOYA Corporation (Japan)
- JINS, Inc. (US)
- Marchon Eyewear, Inc. (US)
- Marcolin S.p.A (Italy)
- Rodenstock GmbH (Germany)
- Seiko Optical Products Co., Ltd. (Japan)
- Shamir Optical Industry Ltd. (Israel)
- Silhouette International Schmied AG (Austria)
- Warby Parker (US)
- Zenni Optical, Inc. (US)
Recent Developments
- In September 2022, CooperVision announced the launch of MyDay Energys daily disposable contact lenses to their product line. It is a daily disposable contact lens with an innovative single-vision aspheric lens design, which was featured in the company's Biofinity Energys. The lenses are built for the modern world and provide exceptional comfort for users of digital devices.
- In June 2022, The Bausch + Lomb Corporation announced its Revive bespoke soft contact lenses, a new line of customized soft contact lenses. These are available in spherical, toric, multifocal, and multifocal toric variants, and are designed to address the visual demands of more patients, including those with high or unique prescriptions.
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