Eyewear Market- Global Industry Analysis, Segment & Forecast 2012-2018

Transparency Market Research (TMR), a market intelligence and research firm, has published a research study on the global eyewear market. The report pegs the overall value of this market in 2011 at US$81.0 bn. Further, it predicts that the worldwide eyewear market will reach a value of US$130 bn by the end of 2018.

According to the research report, titled “Eyewear Market - Global Industry Analysis, Size, Share, Growth and Forecast 2012 - 2018”, in terms of demand, the global eyewear market will reach a capacity of 2,600 units in 2011. Analysts project the market to develop at a CAGR of 3.70% during the period from 2012 to 2018.The markets for spectacles, contact lenses, and plano sunglasses are the main product segments of the global eyewear market. Among these, the spectacles market leads the global eyewear product market. In 2011, the spectacles market stood at a valuation of around US$63 bn and according to market experts, this segment will show extensive growth over the forecast period owing to the increasing number of individuals who uses and who needs eyewear.

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Apart from this, the report analyzes the market for contact lenses, which is also showing signs of remarkable growth owing to the increasing awareness regarding the benefits and convenience of use offered by contact lenses.Asia Pacific, Europe, North America, and the Rest of the World are described as the major regional market in this report. The North America eyewear market led the global eyewear market in 2012, holding over 30% of the overall eyewear market. The demand for contact lenses and sunglasses in North America has exhibited rapid increase in the recent past, stimulating the regional market’s development.

On the other hand, in terms of revenue, the eyewear market in Europe held around 40% of the overall market in 2011, positioning itself as the highest gainer for that year, states the report. However, the Asia Pacific eyewear market is expected to post the fastest development over the forecast period at a CAGR of 9.0% on account of the dense population, resulting in the rising usage of eyewear in this region. In Asia Pacific, India and China are likely to emerge as the largest eyewear markets over the forecast period.

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The research report profiles major eyewear market participants to analyze the competitive landscape of the market. CIBA Vision Inc., Marchon Eyewear, Johnson & Johnson Vision Care, Luxottica, Safilo, CooperVision, Carl Zeiss, Fielmann, De Rigo, Specsavers Optical, Vision Express, Essilor Int., Bausch & Lomb, and Hoya Corp. are the major players operating in the global eyewear market.While, Johnson & Johnson, CIBA vision, CooperVision, and Bausch & Lomb are the dominant players of the market for contact lenses, Essilor and Carl Zeiss lead the global market in the spectacle lenses segment. On the other hand, Safilo and Luxottica lead the plano sunglasses market, states the market study.

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The global eyewear market is segmented into:

By Product Type

• Spectacles
• Spectacle lenses
• Spectacle frames
• Contact Lenses
• Plano Sunglasses

By Distribution Channel

• Retail outlets
• Healthcare service providers
• Online portals

By Region

• Europe
• North America
• Asia-Pacific
• Rest of the World

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Eyewear Market - A Brief Market Research Overlook

Eyewear – Introduction & Product Segmentation

Eyewear is any item worn on or in the eye just to ensure vision correction or for other reasons which is mainly for cosmetic purposes. Normally, key eyewear products include spectacles, contact lenses and Plano sunglasses. A large percentage of the population is afflicted with conditions such as presbyopia, myopia, hyperopia, and astigmatism, and hence, the usage of spectacles is ideal for such people in these situations. Spectacles include frames, as well as lenses.

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They are the conventional choice for compensating for visual inaccuracies such as hyperopia (farsightedness) or myopia (nearsightedness). In terms of demand and revenue, spectacles (spectacle lenses and spectacle frames) are the largest product segments of the Eyewear Market which were valued at over USD 63 billion in 2011.

On the other hand, Plano sunglasses are fitted with non-Rx lenses providing protection for the eyes against harmful UV radiation. They are equally effective and convenient to use, and will boost the overall demand in the coming years.

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Due to worldwide economic recession, the eyewear market once experienced a sluggish growth rate. However, with the world economy returning to normal, the global eyewear market has enjoyed a burgeoning growth in the past few years. This growth is expected to witness a significant rise in the forthcoming years.

Eyewear: Market Attractiveness Analysis

Among the many sub-categories in the main eyewear market, the sunglasses segment is rapidly growing owing to the increasing awareness it stages in terms of benefits and trendy appeal in the accessories.

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Another potential sector in the global eyewear market is the contact lenses segment. Contact lenses are easy to use, extremely convenient and hassle-free with respect to many aspects and considerations. The most preferred modality they are available is in the form of daily disposable and weekly disposable lenses which is the main reason it has become so desirable among the users. Contact lenses are definitely another major eyewear product gaining high-user acceptance across the globe. However, owing to the relatively lower retail prices of the contact lenses in comparison to other eyewear products, this is not expected to convert into high revenues in the coming years.

An expansion of the eyewear market is also mainly attributed due to children using spectacles and/or adapting to vision correction techniques at an early age.

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Global Eyewear Market - Share and Size

As per the study conducted by industry’s best market research firms, the demand for eyewear products was over 2,600 million units in 2011, and is expected to grow at a CAGR of 3.7% from 2012 to 2018. In terms of revenue, the market was valued at approximately USD 81 billion in 2011 and is expected to reach USD 130 billion by 2018.

Market Drivers

Due to changing lifestyle, extensive usage of computers, increasing awareness, rising formal employment, and acceptance of corrective or refractive surgeries to eliminate the use of corrective eyewear, a large percentage of the population is familiarized with different eyewear solutions. The number of individuals requiring prescription eyewear and using corrective eyewear is one of the major driving forces for the growth of this market.

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Also, rise in the number of visual deficiencies amongst the constantly growing population has created high awareness regarding the importance of regular eye examinations and methods of elimination using corrective eyewear. Such are the factors that are expected to inhibit the growth of the global eyewear market in the next six years.

By Geography

North America is the market leader in eyewear. It accounted for over 30% of the global market share in 2011. Nevertheless, North America is gradually being replaced by other geographic regions such as Asia Pacific, particularly India and China. These countries are expected to be the fastest growing market in terms of revenue over the forecast period. Due to dense population and high degree of eyewear penetration in these locales, Asia-Pacific is expected to grow at a CAGR of 9.0% from 2012 to 2018.

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Eyewear Market - Global Industry Analysis, Segment & Forecast 2012-2018

According to a new market report published by Transparency Market Research Eyewear Market (Spectacles, Contact Lenses, Plano Sunglasses) - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018, – the demand for eyewear products was over 2,600 million units in 2011, and is expected to grow at a CAGR of 3.7% from 2012 to 2018. Consideringin terms of revenue, the market was valued at approximately USD 81 billion in 2011 and is expected to reachUSD 130 billion by 2018.

Browse The Market Research Report of Eyewear Market :

http://www.transparencymarketresearch.com/eyewear-market.html

In terms of demand and revenue, spectacles (spectacle lenses and spectacle frames) are the largest product segments of the eyewear market. These sectors were valued at over USD 63 billion in 2011. Due to changing lifestyle,extensive usage of computers, increasing formal employment,increasing awareness, and acceptance of corrective or refractive surgeries to eliminate the use of corrective eyewear, a large percentage of the population is accustomed to eyewear solutions. The number of individuals requiring prescription eyewear and using corrective eyewear is also on the incline. This is becoming a major driving growth factor of the global eyewear market.

Another budding up sector in this market is the contact lenses segment. Due to increased awareness and convenience of use, contact lenses are another major eyewear product gaining high-user acceptance worldwide. The preferred modality they are available in is usually daily disposable and weekly disposable forms which make itdesirable to consider and use. However, owing to the lower retail prices of the contact lenses as compared to other eyewear products, this sector is not expected to translate into high revenues in the coming years.

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According to the study proposed in this report by Transparency Market Research,rise in the number of visual deficiencies amongst the constantly growing population has led the population to adapt to effective eyewear solutions for a better vision. It has also created great awareness regarding the importance of regular eye examinations and methods of elimination using corrective eyewear.All these factors are expected to inhibit the growth of the global eyewear market over the next six years. The study claims that a large percentage of the population is afflicted with conditions such as presbyopia, myopia, hyperopia, and astigmatism.Hence,in order to do away with such conditions in the long run, the pressing demand for corrective eyewear and eyewear products such as contact lenses, spectacles, andPlano sunglasses stirs up in the industry. Plano sunglasses are fitted with non-Rx lenses providing protection for the eyes against harmful UV radiation. Additionally, the expansion of the eyewear market is also mainly attributed due to children using spectacles or adapting to vision correction techniques at an early age.

This report summarizesthe growth factors,estimations, and detailed analysis of the global eyewear market in terms of volumes (million units) and revenue (USD million) for the forecast period 2011 to 2018. It also incorporates extensive company share analysis, as well as comprehensive profiles of key market playersnamely; Luxottica, Safilo, Johnson & Johnson, Bausch & Lomb, Hoya Corporation, and Essilor among others. In addition, considering both in terms of revenues and volumes, each geographical segment is analyzed on the basis of the type of product from 2011 to 2018.

By geography, North America was once regarded as the market leader in eyewear. It accounted for over 30% of the global market share in 2011. Following to North America, Asia Pacific, particularly India and Chinais expected to be the fastest growing market in terms of revenue over the forecast period. High-growth is expected inthese regions because of its dense population and high degree of eyewear penetration. Asia-Pacific is expected to grow at a CAGR of 9.0% from 2012 to 2018.

Browse Press Release of Eyewear Market :

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About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.