Global Premium Eyewear Market valued approximately USD 107.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 9.8% over the forecast period 2018-2025.
The Premium Eyewear market is developing and expanding at a significant pace. The Premium eyewear market is mainly driven owing to escalating disposable income of the individuals, rising dependence on electronic gadgets which includes mobile phones, tablets, television and computers which has resulted into eyesight concerns & has paved way for the adoption of eyewear products. The surge in the number of optical deficiencies & growth considering the elderly population is fueling the adoption & utility of eyewear products on the global scenario. In the present scenario, Vision problems are common in both the male and female population across the globe. The concerns related with eyes of or trouble seeing could vary dramatically in proportion of severity beginning from minor blurred vision to complete blindness. The diabetic retinopathy, age related macular degeneration are most common ocular conditions. According to United states Health department, around 9% of the adult population which includes both male and female population is having concerns related to vision limitation in the country. The Vision limitation are most common in the female population as compared to male population & impact older individuals which escalates the utility of eyewear & further positively influencing the development & growth of premium eyewear market.
On the basis of segmentation, The Premium Eyewear market is mainly segmented into Type and Application. The Type segment is further segmented into Prescription Eyeglasses and Sunglasses. The Application segment is further segmented into Young Adults, Adults, Mature Adults and Seniors. The Type segment is anticipated to be the fastest growing segment owing to escalating disposable income of the individuals along with surging eye related diseases considering the forecasted period on the global scenario.
On the Basis of geography, The premium Eyewear market is segmented into North America, Europe, Asia-Pacific, Latin America and Rest of the World. The Europe region is anticipated to be the fastest growing region owing to escalating eye related disorders and diseases mainly in the countries such as Germany, France, Spain and United Kingdom. Also, The Personalization of eyewear products & services has benefited the small eyewear marketers to enhance & develop long-term relationships with the end users in the fashion capital countries such as United Kingdom and France which is augmenting the growth of Premium Eyewear market in the country.
The regional analysis of Global Premium Eyewear Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share. Whereas, owing to the countries such as China, Japan, and India, Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The companies involved in the market are as follows:
- Luxottica Group S.p.A
- Essilor International
- Grand Vision
- Formosa Optical
- Carl Zeiss AG
- Hoya Corporation
- De Rigo S.p.A
- Indo Internacional
- Johnson & Johnson
- Cooper Vision
- Bausch & Lomb
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Prescription Eyeglasses
- Young Adults
- Mature Adults
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Premium Eyewear Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers