Key Drivers Shaping the 2024 Eyewear Market: The Impact of an Aging Population

The Business Research Company's Eyewear Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The eyewear market has experienced significant growth in recent years. It is projected to expand from $146.08 billion in 2023 to $162.66 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.4%. This growth can be attributed to factors such as evolving fashion and style trends, a rise in vision-related issues, growing awareness of UV protection, celebrity endorsements and influence, as well as an aging population.

What Is the Projected Market Size of the Global Eyewear Market and Its Growth Rate?

The eyewear market is projected to experience substantial growth in the coming years, reaching $244.24 billion by 2028, with a compound annual growth rate (CAGR) of 10.7%. This growth is driven by innovations in smart eyewear, a shift toward eco-friendly and sustainable practices, increased globalization and market expansion, greater demand for personalized and customized products, and the rise of online try-on services.

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What are the Key Drivers Fueling Growth in the Eyewear Market?

The growing elderly population is anticipated to drive the expansion of the eyewear market in the future. An aging population refers to a demographic change where the proportion of older individuals in a society rises over time. As the global population ages, there has been a rise in age-related vision issues, boosting the demand for reading glasses, bifocals, and other types of corrective eyewear.

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Who Are the Key Players Driving Growth in the Eyewear Market?

Key players in the market include Silhouette International Schmied AG, JAND Inc., LVMH Moët Hennessy Louis Vuitton SE, Essilor International S.A., Carl Zeiss AG, Alcon Vision LLC, Hoya Corporation, Johnson & Johnson Vision Care Inc., Specsavers Optical Group Limited, GrandVision BV, Burberry Group plc, Bausch & Lomb Incorporated, The Cooper Companies Inc., Italia Independent Group S.p.A., Fielmann AG, Safilo Group S.p.A., Kering Eyewear, Marchon Eyewear Inc., Rodenstock GmbH, TAG Heuer SA, De Rigo Vision S.p.A., Marcolin S.p.A., Oakley Inc., Maui Jim Inc.

What Are The Emerging Trends Shaping The Growth Of The Eyewear Market?
Leading companies in the eyewear market are concentrating on creating innovative technologies, such as Alexa-powered glasses. These glasses seamlessly integrate Amazon's virtual assistant, Alexa, allowing users to interact with the assistant hands-free via voice commands, all directly through the eyewear.

What Are the Segments of the Global Eyewear Market?

1) By Product: Contact Lenses, Spectacles, Sunglasses
2) By Gender: Men, Women, Unisex
3) By Distribution Channel: Optical Stores, Independent Brand Showrooms, Online Stores, Retail Stores

Geographic Overview: North America at the Helm of the Eyewear Market

North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is The Eyewear Market Defined?
Eyewear includes devices and accessories designed to protect or enhance vision. It is also commonly used as a fashion accessory or for cosmetic purposes. The most widely used types of eyewear are spectacles, sunglasses, goggles, and contact lenses.

The Eyewear Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Eyewear Market Report: Trends, Opportunities, Strategies, and More
The Eyewear Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into eyewear market size, eyewear market drivers and trends, eyewear competitors' revenues, and eyewear market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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