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.
The ever changing trends of fashion have led to a surge in demand for sunglasses in an indirect way by leading to their increasing use in the designer eyewear segment. A major opportunity exists for the sunglass manufacturers in the emerging economies owing to a rise in the level of disposable income leading to a higher inclination of the consumers towards branded eyewear products.
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According to the Ministry of Health and Family Welfare, more and more people are getting affected by eye disorders, leading to awareness amongst the population of the developing countries. Also, offline stores offering free eye checkups are a great opportunity for the eyewear manufacturers since more and more people are now realizing the effect of factors like pollution and UV rays on the eyes and are focusing on precautions and solutions. New technologies in eyewear products such as the Transitions Light Intelligent Technology in the new contact lenses offered by Johnson & Johnson are also a significant opportunity for eyewear manufacturers since these are leading to an increasing number of sales.
The COVID-19 impact:
The entire world has been affected by the spread of the COVID-19 Pandemic. Over the past couple of months, many countries have enforced lockdowns, leading to a decline in the sales of the eyewear market, especially the luxury and fashion segment. Consumers are currently only purchasing online, and since eyewear does not come under essential commodities, the demand for these products is being affected negatively due to the COVID-19 Pandemic leading to a decline in the sales of most of the eyewear manufacturers.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/eyewear-market
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Eyewear market on the basis of product, end-user, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
End-User Outlook (Revenue, USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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