[Latest] US Eyewear Market Size/Share Worth USD 30,322.1 Million by 2033 at a 5.2% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)
Austin, TX, USA, July 31, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “US Eyewear Market Size, Trends and Insights By Product Type (Prescription Eyeglasses, Sunglasses, Contact Lenses, Frames, Others), By Material Type (Plastic, Metal, Others), By Lens Type (Single Vision, Bifocal, Progressive/Varifocal, Polarized, Photochromic, Others), By End-User (Men, Women, Children), By Distribution Channel (Optical Stores, Online Retailers, Specialty Stores, Eyewear Chains, Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.
“According to the latest research study, the demand of US Eyewear Market size & share was valued at approximately USD 18,264.2 Million in 2023 and is expected to reach USD 19,140.9 Million in 2024 and is expected to reach a value of around USD 30,322.1 Million by 2033, at a compound annual growth rate (CAGR) of about 5.2% during the forecast period 2024 to 2033.”
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US Eyewear Market: Growth Factors and Dynamics
- Increasing Vision Disorders: The prevalence of vision-related disorders such as myopia, hyperopia, and presbyopia is on the rise in the US population. This growing incidence of vision problems drives the demand for corrective eyewear, including prescription glasses and contact lenses, contributing to market growth.
- Rising Aging Population: The aging population in the US, coupled with the associated increase in age-related vision impairments, fuels the demand for eyewear products. As individuals age, they are more likely to require vision correction, leading to a sustained demand for eyeglasses and reading glasses.
- Fashion and Style Trends: The US eyewear market is influenced by fashion and style trends, with consumers increasingly viewing eyewear as a fashion accessory. The demand for trendy and stylish frames, as well as designer eyewear brands, drives market growth among fashion-conscious consumers.
- Technological Advancements: Technological innovations in lens materials, coatings, and designs have led to the development of more comfortable, durable, and high-performance eyewear products. Advanced features such as anti-glare coatings, blue light filters, and photochromic lenses cater to consumer preferences for enhanced visual comfort and protection, driving market demand.
- Increasing Awareness of Eye Health: Growing awareness of the importance of eye health and regular vision screenings among consumers contributes to the demand for eyewear products. Eye health awareness campaigns and initiatives promote proactive measures to maintain optimal vision health, encouraging individuals to invest in quality eyewear solutions.
- Expanding Distribution Channels: The US eyewear market benefits from the expansion of distribution channels, including online retailers, optical chains, department stores, and specialty eyewear boutiques. The accessibility of eyewear products through various retail channels enhances market penetration and consumer convenience, driving overall market growth.
- Digital Device Usage: The increasing reliance on digital devices such as smartphones, computers, and tablets has led to a rise in digital eye strain and related vision problems among US consumers. This phenomenon drives the demand for specialty eyewear solutions like blue light-blocking glasses designed to reduce eye strain and protect against the harmful effects of prolonged screen exposure, contributing to market growth in the US eyewear sector.
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US Eyewear Market: Partnership and Acquisitions
- In 2023, Bausch + Lomb launched SeeNa in the US, an ophthalmic diagnostic system for refractive cataract patients. Integrated with Bausch & Lomb’s Eyetelligence software, SeeNa aims to streamline surgical planning and information flow for improved efficiency in cataract surgeries.
- In 2022, Authentic Brands Group and Innovative Eyewear, Inc. announced a multi-year international licensing agreement for Eddie Bauer smart eyewear. The collaboration aims to bring innovative smart eyewear products to the market under the Eddie Bauer brand.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 19,140.9 Million |
| Projected Market Size in 2033 | USD 30,322.1 Million |
| Market Size in 2023 | USD 18,264.2 Million |
| CAGR Growth Rate | 5.2% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Product Type, Material Type, Lens Type, End-User, Distribution Channel and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | US |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
(A free sample of the US Eyewear report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request.
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the US Eyewear report has been modified to include the COVID-19 impact study prior to delivery.)
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US Eyewear Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the US Eyewear Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Disruption in Supply Chains: The COVID-19 pandemic disrupted global supply chains, leading to shortages of eyewear products and raw materials. Manufacturing and distribution operations were affected, causing delays in the production and delivery of eyeglasses, frames, and contact lenses.
- Decline in Retail Foot Traffic: Lockdown measures and social distancing protocols resulted in reduced foot traffic in brick-and-mortar optical stores and eyewear retailers. Many consumers postponed non-urgent eye exams and purchases of new eyewear, leading to a decline in sales and revenue for the industry.
- Shift to Online Retail: Eyewear retailers accelerated their online presence and e-commerce capabilities to cater to changing consumer behavior during the pandemic. The shift to online retail allowed consumers to purchase eyewear products conveniently from home, mitigating the impact of reduced foot traffic in physical stores.
- Focus on Telehealth and Remote Services: Eyecare professionals embraced telehealth and remote consultation services to provide essential eye care services to patients during the pandemic. Virtual eye exams, consultations, and fittings allowed patients to receive personalized eyewear prescriptions and recommendations remotely, ensuring continuity of care while adhering to social distancing guidelines.
- Health and Safety Protocols: Optical stores and eyewear retailers implemented stringent health and safety protocols to reassure customers and restore confidence in visiting physical retail locations. Measures such as frequent sanitization, mandatory mask-wearing, and appointment-based visits were implemented to create a safe shopping environment for consumers.
- Product Innovation and Digital Solutions: Eyewear manufacturers focused on product innovation and digital solutions to meet evolving consumer needs and preferences. Advancements in lens technology, frame materials, and virtual try-on tools enhanced the online shopping experience and encouraged consumer engagement with eyewear products.
- Pent-up Demand and Recovery in Consumer Spending: As lockdown restrictions eased and vaccination rates increased, the US eyewear market witnessed a resurgence in consumer spending and pent-up demand for eyewear products. Consumers resumed routine eye exams, upgrades, and purchases of new eyewear, driving market recovery and growth.
In conclusion, the COVID-19 pandemic has had a mixed impact on the US Eyewear Market, with some challenges and opportunities arising from the pandemic.
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Key questions answered in this report:
- What is the size of the US Eyewear market and what is its expected growth rate?
- What are the primary driving factors that push the US Eyewear market forward?
- What are the US Eyewear Industry's top companies?
- What are the different categories that the US Eyewear Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the US Eyewear market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2024−2033
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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US Eyewear Market – Significant Threats
The US Eyewear Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Competition from Online Retailers: The rise of online retailers poses a threat to traditional brick-and-mortar optical stores, as consumers increasingly opt for the convenience of purchasing eyewear online, potentially leading to decreased foot traffic and sales for physical stores.
- Counterfeit Products: The proliferation of counterfeit eyewear products poses a threat to legitimate eyewear manufacturers and retailers, undermining brand reputation and consumer trust while potentially compromising product quality and safety.
- Price Pressure and Margin Compression: Intense competition within the eyewear market, coupled with the emergence of budget-friendly eyewear brands, exerts pressure on pricing and margins, potentially impacting profitability for established players.
- Changing Consumer Preferences: Shifts in consumer preferences and purchasing behaviors, such as prioritizing budget-friendly options over premium brands or opting for contact lenses over traditional eyeglasses, pose challenges for eyewear manufacturers and retailers in adapting to evolving market demands.
- Regulatory Challenges: Regulatory changes or compliance issues related to product safety, labeling requirements, or advertising standards may pose challenges for eyewear companies, requiring investment in compliance efforts and potentially leading to disruptions in operations or market entry barriers.
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Browse the full “US Eyewear Market Size, Trends and Insights By Product Type (Prescription Eyeglasses, Sunglasses, Contact Lenses, Frames, Others), By Material Type (Plastic, Metal, Others), By Lens Type (Single Vision, Bifocal, Progressive/Varifocal, Polarized, Photochromic, Others), By End-User (Men, Women, Children), By Distribution Channel (Optical Stores, Online Retailers, Specialty Stores, Eyewear Chains, Others), and By Region - Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/us-eyewear-market/
List of the prominent players in the US Eyewear Market:
- Luxottica Group S.p.A.
- EssilorLuxottica
- Johnson & Johnson Vision Care Inc.
- CooperVision Inc.
- Alcon a Novartis company
- Safilo Group S.p.A.
- Marchon Eyewear Inc.
- Carl Zeiss Vision Inc.
- Hoya Corporation
- Warby Parker
- National Vision Holdings Inc.
- Eyewear Brands Limited
- Charmant Group
- Maui Jim Inc.
- Oakley Inc.
- Others
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The US Eyewear Market is segmented as follows:
By Product Type
- Prescription Eyeglasses
- Sunglasses
- Contact Lenses
- Frames
- Others
By Material Type
- Plastic
- Metal
- Others
By Lens Type
- Single Vision
- Bifocal
- Progressive/Varifocal
- Polarized
- Photochromic
- Others
By End-User
- Men
- Women
- Children
By Distribution Channel
- Optical Stores
- Online Retailers
- Specialty Stores
- Eyewear Chains
- Others
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This US Eyewear Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Key Players in This US Eyewear Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Market Status of the US Eyewear Market? What Was the Capacity, Production Value, Cost and PROFIT of the US Eyewear Market?
- What Is the Current Market Status of the US Eyewear Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of US Eyewear Market by Considering Applications and Types?
- What Are Projections of the US Eyewear Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is US Eyewear Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On US Eyewear Industry? What are Macroeconomic Environment Analysis Results? What Are Macroeconomic Environment Development Trends?
- What Are Market Dynamics of US Eyewear Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for US Eyewear Industry?
Click Here to Access a Free Sample Report of the US Eyewear Market @ https://www.custommarketinsights.com/report/us-eyewear-market/
Reasons to Purchase US Eyewear Market Report
- US Eyewear Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- US Eyewear Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- US Eyewear Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- US Eyewear Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the US Eyewear market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide US Eyewear market analysis.
- The competitive environment of current and potential participants in the US Eyewear market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide US Eyewear market should find this report useful. The research will be useful to all market participants in the US Eyewear industry.
- Managers in the US Eyewear sector are interested in publishing up-to-date and projected data about the worldwide US Eyewear market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in US Eyewear products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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About Custom Market Insights:
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