United States Eyewear Market to Grow With a 5.84% CAGR Through Forecast Period
United
States Eyewear market is driven by various factors such as evolving fashion
trends, technological innovations, and the demographic shift towards an aging
population with a heightened focus on vision health.
According
to TechSci Research report, “United States Eyewear Market – By Region,
Competition, Forecast and Opportunities, 2018-2028F”, the United States Eyewear Market stood at USD 30.55 billion
in 2022 and is anticipated to grow with a CAGR of 5.92% in the forecast period,
2024-2028. The United States eyewear market is a
vast and dynamic industry that encompasses a wide range of products, from
prescription eyeglasses and contact lenses to sunglasses and fashionable
eyewear. With a growing population, increasing awareness of eye health,
changing fashion trends, and advancements in technology, this market is
characterized by significant developments and trends.
The United States is experiencing
demographic shifts, with an aging population and a growing number of
individuals requiring vision correction. This has led to an increased demand
for prescription eyeglasses and contact lenses, as well as the need for regular
eye examinations.
Eyewear has transcended its utilitarian
function to become a fashionable accessory. Consumers, particularly in urban
centers, view eyeglasses and sunglasses as style statements. As a result, there
is a growing demand for eyewear that complements one's personal style and
wardrobe. People in the United States are increasingly conscious of the
importance of eye health. Regular eye check-ups are recommended, and eye health
has become a focus in the healthcare industry. This awareness has driven the
demand for both prescription eyewear and protective sunglasses.
Technological advancements have played a
crucial role in the eyewear market. The development of high-definition lenses,
anti-reflective coatings, and progressive multifocal lenses has improved the
visual experience for wearers. Additionally, advancements in the manufacturing
of contact lenses have made them more comfortable and convenient. The influence
of fashion trends and celebrities on eyewear choices cannot be overstated.
Fashion-forward individuals often seek eyewear that reflects the latest styles,
as promoted by popular influencers and celebrities. Eyewear brands collaborate
with these influencers to market their products effectively.
The American lifestyle is characterized
by outdoor activities, from sports to leisure. This has led to the popularity
of performance sunglasses that offer UV protection, enhanced clarity, and
durability. Athletes and outdoor enthusiasts value eyewear that not only
complements their activities but also protects their eyes. Consumers
increasingly seek eyewear that is customized to their specific needs and
preferences. This includes personalized frames, lens coatings, and even
3D-printed eyeglasses. Customization allows wearers to have eyewear that suits
their unique requirements.
The convenience of online shopping has
extended to the eyewear market. E-commerce platforms and online eyewear
retailers have gained popularity, offering a wide range of options, virtual
try-on tools, and home delivery services. With increased screen time due to
digital devices, there is a growing interest in blue light protection.
Consumers seek eyeglasses with blue light-blocking coatings to reduce eye
strain and potential damage from prolonged screen exposure.
Sustainability is an emerging trend in
the eyewear market. Brands are incorporating eco-friendly materials, such as
recycled plastics and sustainable wood, into their eyeglass frames.
Eco-conscious consumers are increasingly considering the environmental impact
of their eyewear choices. Contact lenses offer convenience and flexibility, and
they have gained popularity among consumers seeking an alternative to
traditional eyeglasses. Advancements in contact lens technology, including
daily disposables and extended-wear options, have contributed to their
increased adoption.
Vintage and retro eyewear styles have
made a comeback, appealing to consumers who appreciate the nostalgia and
classic aesthetics of frames from past decades. These styles offer a unique
blend of fashion and nostalgia. The athleisure trend has extended to eyewear.
Lightweight and sporty eyeglasses and sunglasses that can transition seamlessly
from workouts to everyday activities have gained favor among fitness-conscious
individuals. The concept of smart eyewear, which integrates technology like
augmented reality and fitness tracking, is gradually gaining ground. While not
yet mainstream, smart eyewear is on the horizon, with potential applications in
healthcare, sports, and everyday life.
Eyewear can be expensive, and not all
consumers have access to vision insurance. Affordability remains a concern for
many, leading some individuals to postpone or forgo eye care and eyewear
purchases. The rise of online eyewear retailers has created a competitive
landscape that traditional brick-and-mortar stores must navigate. Retailers are
adapting by offering value-added services and personalized experiences. The
market is plagued by counterfeit eyeglasses and sunglasses, posing risks to
consumer safety and brand reputation. Efforts to combat counterfeits are
ongoing.
Access to eye care remains a challenge
for underserved and remote communities. Efforts to improve access to eye health
services are essential to reach all segments of the population. The eyewear
market is subject to regulatory requirements and standards, and companies must
ensure compliance to provide safe and effective products to consumers.
Browse
over XX market data Figures spread through 83 Pages and an in-depth TOC on "United States Eyewear Market”
The United States eyewear market is segmented
into product type, end user, sales channel, and region.
Based
on product type, the market is segmented into sunglasses, spectacles, contact
lenses, sports eyewear, others (safety & protection eyewear, transparent
eyeglasses). Among these, sunglasses has a significant share in the United
States eyewear market. Sunglasses have transcended their utilitarian purpose to
become a fashion statement. Consumers view them as an essential accessory that
complements their style and adds a touch of sophistication to their overall
look. The versatility of sunglasses allows wearers to express their personality
and keep up with fashion trends.
Based
on region, the market is segmented into South, West, Mid-West, North-East. Among
these, South has a significant share in the United States eyewear market. The
South's warm and inviting climate encourages an active outdoor lifestyle.
Residents often engage in various outdoor activities, from beach outings and
water sports to hiking and golfing. These activities require the use of
sunglasses to shield the eyes from the sun's glare and reduce the risk of eye
damage due to UV exposure.
Key
market players in the United States Eyewear market include:
- EssilorLuxottica
SA
- Bausch
Health Companies Inc.
- Johnson
& Johnson Vision Care, Inc.
- Alcon
Vision LLC
- The
Cooper Companies, Inc.
- Safilo
USA, Inc.
- Menicon
America, Inc.
- Hoya
Vision Care
- Carl
Zeiss Vision Inc.
- Zenni
Optical, Inc.
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“The
United States eyewear market is poised for continued growth and innovation.
Advances in lens technology, the integration of fashion and technology, and a
growing emphasis on eye health are expected to shape the future of the
industry. Customization and sustainability will likely become more prominent
trends. With the increasing recognition of the importance of eye care, eyewear
will continue to be a fundamental aspect of both style and health for consumers
in the United States. As the industry evolves to meet changing consumer needs,
it is expected to remain a dynamic and influential part of the broader
healthcare and fashion sectors.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
“United
States Eyewear Market
Segmented By Product Type (Sunglasses, Spectacles,
Contact Lenses, Sports Eyewear, Others (Safety & Protection Eyewear,
Transparent Eyeglasses)), By End User (Women, Men and Unisex), By Sales Channel
(Supermarkets/Hypermarkets, Specialty Stores, Online, and Others (Hospitals,
Clinics, Make Up & Beauty Stores, etc.)), By Region, Competition, Forecast and Opportunities, 2018-2028F”, has evaluated the future growth potential
of United States eyewear market and provides statistics and information on
market structure, size, share, and future growth. The report intends to provide
cutting-edge market intelligence and help decision-makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the United
States eyewear market.
Contact
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Techsci
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