Eyewear is corrective or protective devices worn for the eyes. They are used to correct poor vision due to eye disorders or protect the eyes from UV rays, dust, and external contaminants. According to the World Health Organization (WHO), 246 million people worldwide suffered from poor vision in 2014. This outlines the massive scope of this market. Also, decorative eyewear among the urban youth has also boosted the eyewear market.
The major drivers for the eyewear market are an increasing incidence of eye disorders which can be attributed to increased exposure to electronic devices. Also, increased awareness and rural initiatives regarding eye health has contributed to eyewear market growth. The restraint is the growing popularity of corrective eye surgeries is the restraint for the eyewear market. Although, public acceptance is trifling due to the high cost of surgery.
Global Eyewear Market Taxonomy
On basis of Product Type
On basis of Material
On basis of Distribution Channel
In hydrogel lenses, the major component is water, with 70% water in soft lenses. The advantages of these lenses over glass and plastic lenses are that they comfort and convenience. The lenses can be worn for a long time without any discomfort.
The dominant distribution channel is brick and mortar. Customers prefer a tactile experience for buying eyewear to gauge the product’s quality. Although, online eyewear market places have gained acceptance in current times. For instance, Lenskart is a popular Indian eyewear marketplace which operates in both brick & mortar and online portals.
Global Eyewear Market Outlook
Google Glass is a type of eyewear, which acts as a head mounted display. The wearable eyewear has potential applications in journalism, military, film making, and healthcare. Major players on in the global eyewear market are Luxottica, Safilo, Marchon, Charmant, Marcolin, and De Rigo.
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