Market Overview
United States Eyewear Market has valued at USD 30.55
billion in 2022 and is anticipated to project robust growth in the forecast
period with a CAGR of 5.92% through 2028. The United States eyewear market is a
diverse and robust industry encompassing a wide range of products, from
prescription glasses and contact lenses to sunglasses and fashionable eyewear.
This market is marked by a combination of factors, including changing consumer
preferences, advancements in eyewear technology, and the evolving role of
eyewear as a fashion accessory.
Prescription eyewear, including eyeglasses and
contact lenses, is a fundamental component of the U.S. eyewear market. This
segment is driven by factors such as the aging population, increasing cases of
vision-related issues, and the growing awareness of the importance of eye
health. With the rise of digital devices and prolonged screen time, there is a
growing need for corrective eyewear to address issues like myopia and
astigmatism.
The market for prescription eyewear has seen
significant technological advancements, with the introduction of
high-definition and anti-reflective coatings, thinner and lighter lens
materials, and progressive lenses that eliminate the need for multiple pairs of
glasses. Additionally, the trend of online eyewear retail has disrupted
traditional distribution channels, making prescription eyewear more accessible
and convenient for consumers.
Sunglasses have become more than just a protection
from the sun's harmful UV rays; they are now a fashion statement. The U.S.
sunglasses market is influenced by fashion trends and the desire for UV
protection, making it a blend of style and function. Premium and designer
sunglasses brands have gained popularity, with consumers willing to invest in
high-quality eyewear that complements their personal style.
The eyewear industry has seen a surge in fashion
eyewear, including non-prescription glasses and frames that serve as
accessories. These frames come in various shapes, sizes, and materials, and
they cater to consumers looking to make a style statement. Celebrities and
influencers often drive the demand for these fashionable frames, making eyewear
a significant component of personal style.
The United States eyewear market faces challenges
related to price sensitivity, counterfeit eyewear, and the emergence of online
marketplaces. Consumers often seek value for their eyewear purchases and may be
tempted by lower-cost options. However, concerns about quality and authenticity
remain.
On the other hand, ongoing trends in the market
include a growing awareness of eye health, an aging population that requires
vision correction, and the increasing use of eyewear as a fashion accessory.
The market also continues to witness technological innovations, such as smart
glasses and contact lenses that monitor health metrics and augmented reality
(AR) capabilities.
Key Market Drivers
Evolving Fashion Trends and Style Preferences
One of the primary drivers of the United States
eyewear market is the ever-changing landscape of fashion trends and style
preferences. Eyewear is no longer seen solely as a vision correction tool; it
has become a fashion accessory and a means of self-expression. As a result,
consumers are increasingly seeking eyewear that complements their personal
style and enhances their overall appearance.
In recent years, the eyewear industry has witnessed
a surge in demand for a wide variety of eyeglasses and sunglasses, each
catering to different fashion preferences. From retro-inspired frames to
minimalist, ultra-modern designs, consumers have an array of choices to match
their individual aesthetics.
Celebrities, influencers, and fashion icons often
play a pivotal role in setting eyewear trends. When a prominent figure is seen
sporting a particular style of eyeglasses or sunglasses, it can quickly become
a sought-after fashion statement, influencing consumer choices.
The eyewear industry has responded to this trend by
offering a diverse range of frame styles, materials, and color options. Eyewear
brands and retailers now collaborate with fashion designers to create exclusive
collections, further blurring the line between eyewear and fashion. This
dynamic fusion of fashion and eyewear choices continues to be a driving force
in the U.S. eyewear market.
Technological Advancements and Innovation
Technological advancements represent another
significant driver of the eyewear market in the United States. Innovations in
materials, coatings, lens technology, and manufacturing processes have
transformed the eyewear industry, enhancing both the functionality and
aesthetics of eyeglasses and sunglasses.
Digital Lenses: Digital lens technology has
revolutionized the vision correction aspect of eyewear. High-definition and
digitally surfaced lenses offer improved clarity, reduced distortion, and
enhanced visual comfort. These innovations are particularly valuable for those
with higher prescription needs, astigmatism, or presbyopia.
Blue Light and UV Protection: With increased screen
time and digital device usage, the demand for eyewear with blue light and UV
protection has surged. These specialized lenses help reduce eye strain, protect
against harmful UV rays, and enhance overall eye health.
Lightweight and Durable Materials: The introduction
of lightweight and durable materials, such as memory metals and high-quality
acetates, has made eyeglasses more comfortable and long-lasting. These
materials offer flexibility and resilience, reducing the risk of breakage.
Customization and 3D Printing: Customization has
become a focal point of innovation in the eyewear market. 3D printing
technology allows for personalized frame designs, ensuring a perfect fit and
style alignment with the individual wearer's face shape and preferences.
Smart Eyewear: The emergence of smart eyewear,
including augmented reality (AR) and virtual reality (VR) glasses, is set to
revolutionize not only the tech industry but also the eyewear market. Smart
eyewear offers features like heads-up displays, voice commands, and real-time
data integration, expanding the utility of eyewear beyond vision correction and
sun protection.
Incorporating these technological advancements has
led to increased consumer interest in eyewear that not only meets their visual
needs but also enhances their lifestyle and well-being. As technology continues
to advance, the eyewear market is likely to see further innovations that drive
consumer engagement and market growth.
Aging Population and Vision Health Awareness
The demographic landscape of the United States is
changing, with an aging population that is increasingly focused on vision
health. This demographic shift has a profound impact on the eyewear market as
older individuals often require vision correction and eye health maintenance.
As people age, the prevalence of vision-related
conditions, such as presbyopia, cataracts, and age-related macular
degeneration, tends to increase. This has led to a growing demand for
eyeglasses and sunglasses that provide not only clear vision but also address
specific age-related vision challenges.
Furthermore, awareness of the importance of regular
eye exams and vision care has been on the rise. With the aging population
becoming more proactive in preserving their eye health, routine eye check-ups
are becoming the norm. This increased awareness drives demand for eyewear, both
prescription and non-prescription, that is designed to meet the unique needs of
older individuals.
The eyewear market has responded by offering specialized
products such as multifocal lenses, progressive lenses, and glare-reducing
coatings to cater to the aging demographic. The availability of a wide range of
stylish frames and options for vision correction, including bifocals and
progressive lenses, ensures that older individuals can maintain their visual
acuity without compromising on style.
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Key Market Challenges
Changing Consumer Behavior and Preferences
One of the major challenges confronting the eyewear
market in the United States is the shifting consumer behavior and preferences.
While eyewear has been traditionally perceived as a necessity for vision
correction, it has increasingly become a fashion accessory. Consumers,
especially the younger demographic, are now driven by style, brand identity,
and the desire to make a fashion statement when choosing eyewear.
This shift has created a challenge for traditional
eyewear retailers and manufacturers. They must adapt to the changing landscape
by offering a wider variety of frame styles and designs, often in collaboration
with fashion brands. At the same time, the market must address the demand for
affordable, fashionable eyewear options, which may lead to pricing pressures.
Moreover, the rise of e-commerce and
direct-to-consumer eyewear brands has altered how consumers shop for eyewear.
Consumers now have the option to purchase eyewear online, often at lower
prices, which poses a challenge for brick-and-mortar retailers who must provide
value and personalized services to remain competitive.
Increasing Competition and Consolidation
The United States eyewear market is highly
competitive, with numerous players, including established eyewear
manufacturers, retailers, online startups, and fashion brands entering the
space. This increased competition is driven by the growing demand for eyewear,
technological advancements, and shifting consumer preferences.
In response to the intense competition, many
eyewear companies have engaged in consolidation, mergers, and acquisitions to
strengthen their market position. For instance, Luxottica and Essilor merged to
form EssilorLuxottica, one of the world's largest eyewear companies, with
significant market power. While such consolidation can lead to economies of
scale, it may also limit consumer choice and potentially result in higher
prices.
Additionally, the growth of online retailers and
the direct-to-consumer model has disrupted the traditional eyewear distribution
chain. These newcomers often offer lower-priced eyewear by cutting out
intermediaries, which has forced established players to reevaluate their
pricing strategies.
The challenge for the eyewear market is to strike a
balance between healthy competition and market consolidation, ensuring that
consumers have access to a variety of eyewear options while maintaining
affordability and quality.
Rising Healthcare Costs and Insurance Issues
The cost of eyewear in the United States can be a
significant financial burden for many consumers. While vision insurance plans
exist, they often have limitations, leaving consumers to bear a substantial
portion of the cost. The challenge here is twofold: rising healthcare costs and
insurance limitations.
First, the overall healthcare cost in the United
States, including eye care, has been steadily increasing. This includes the
cost of eye exams, frames, lenses, and contact lenses. As a result, consumers
may delay or forego purchasing eyewear due to financial constraints, which
could negatively impact their eye health.
Second, many insurance plans have limited coverage
for eyewear or may not cover certain designer frames or specialized lenses.
This puts the onus on consumers to navigate the complex landscape of insurance
options, co-pays, deductibles, and out-of-pocket expenses, making the purchase
of eyewear an intricate process. The challenge is to make eyewear more
affordable and accessible for consumers while addressing the issue of rising
healthcare costs and insurance limitations.
To address these challenges, the eyewear market in
the United States may need to work closely with healthcare providers,
policymakers, and insurance companies to develop more comprehensive and
affordable vision care solutions. Moreover, eyewear companies can explore
innovative pricing models and partnerships with insurance providers to make
quality eyewear more accessible to a broader range of consumers.
Key Market Trends
Growing Demand for Digital
Eye Strain Solutions
One of the prominent trends
in the United States eyewear market is the increasing demand for eyewear
designed to alleviate digital eye strain. As digital devices like smartphones,
tablets, and computers have become integral parts of daily life, more people
are spending extended periods in front of screens. This prolonged screen time
can lead to symptoms of digital eye strain, such as eye fatigue, dryness, and
headaches.
In response to this trend,
eyewear manufacturers are developing and marketing specialized lenses and
frames designed to reduce the impact of digital eye strain. These eyeglasses
often feature blue light filtering technology, which can block a portion of the
harmful high-energy blue light emitted by screens. Additionally,
anti-reflective coatings are applied to lenses to reduce glare and improve
visual comfort.
As remote work and online
learning become more prevalent, the demand for digital eye strain solutions is
expected to continue to grow. Eyewear retailers are likely to expand their
product offerings in this category, and consumers may prioritize eyeglasses
that not only correct vision but also provide relief from the discomfort
associated with prolonged screen use.
Rise of Fashion-Forward
Eyewear and Sustainable Choices
Another notable trend in
the United States eyewear market is the convergence of fashion and
sustainability. Eyeglasses and sunglasses are no longer just functional
accessories; they have become fashion statements. Consumers are increasingly
looking for eyewear that complements their personal style while also reflecting
their values, including sustainability and environmental consciousness.
Many eyewear brands are
responding to this trend by offering a wide range of stylish frames and
designs. Whether it's classic, retro, minimalistic, or bold, consumers can find
eyewear that matches their fashion preferences. Additionally, the use of sustainable
materials, such as recycled plastics, wood, and eco-friendly acetates, is on
the rise. Brands that prioritize sustainability in their manufacturing
processes are gaining favor among environmentally conscious consumers.
This fashion-forward and
sustainable eyewear trend is also driven by the popularity of social media and
online influencers. People are increasingly influenced by celebrities and style
icons who showcase eyewear as a fashion accessory. The desire to emulate these
fashion-forward trends has contributed to a shift in consumer buying patterns,
with a greater emphasis on style and sustainability.
Expansion of Online Eyewear
Retail
The United States eyewear
market is witnessing a substantial expansion of online eyewear retail.
E-commerce has transformed the way consumers shop for eyeglasses and
sunglasses. The convenience of online shopping, combined with the ability to
browse a vast selection of frames from the comfort of one's home, has driven
the growth of online eyewear retailers.
Many online retailers offer
virtual try-on tools that allow customers to see how different frames look on
their face. This technology helps alleviate one of the main concerns of online
eyewear shopping—the inability to physically try on frames before purchasing.
Online retailers can carry
a more extensive inventory of frames and styles compared to brick-and-mortar
stores with limited shelf space. This variety allows consumers to explore a
broader range of choices.
Online retailers often
offer competitive pricing and promotions. The direct-to-consumer model, without
the overhead costs of physical stores, can result in cost savings for
consumers.
Many online eyewear
retailers offer customizable options, allowing customers to select frame
styles, lens options, coatings, and even add prescriptions according to their
specific needs.
The convenience of having
eyeglasses delivered to one's doorstep is a compelling reason for consumers to
opt for online purchases. This convenience has become even more important
during the COVID-19 pandemic.
Despite the growth of
online eyewear retail, traditional brick-and-mortar stores remain essential for
certain consumers who prefer in-person consultations and fittings. However, the
online trend is expected to continue growing, and established eyewear brands,
as well as new entrants to the market, are likely to expand their online
presence to meet the demand for convenient and customizable eyewear shopping
experiences.
Segmental Insights
Product Type Insights
Sunglasses have carved out
a substantial and influential share in the United States eyewear market,
reflecting their dual role as both a fashion accessory and a practical necessity.
Several factors contribute to the prominence of sunglasses in this market,
making them a ubiquitous and enduring element of American style and lifestyle.
Sun Protection and Eye
Health: The primary function of sunglasses is to provide protection from the
harmful effects of UV (ultraviolet) radiation. Prolonged exposure to UV rays
can lead to various eye health issues, including cataracts and photokeratitis.
As awareness of the importance of eye protection has grown, so too has the
demand for sunglasses.
Fashion Accessory:
Sunglasses have evolved beyond their utilitarian function to become a key
fashion accessory. They add an element of style, enhance one's overall look,
and provide an avenue for self-expression. The diverse styles, designs, and
brands available in the market allow consumers to choose sunglasses that align
with their personal style and preferences.
Celebrity and Pop Culture
Influence: The influence of celebrities and pop culture cannot be
underestimated in the popularity of sunglasses. Iconic figures from the
entertainment industry and fashion world often sport distinctive sunglasses,
setting trends that consumers eagerly follow.
Outdoor Lifestyle: The
United States is known for its outdoor lifestyle. Sunglasses are an essential
part of various outdoor activities, including sports, leisure, and recreation.
Athletes, hikers, bikers, and beachgoers rely on sunglasses to enhance their
performance and protect their eyes.
Demographic Diversity:
Sunglasses appeal to a broad demographic spectrum. They are worn by people of
all ages, from children to the elderly. Each age group seeks sunglasses
tailored to their specific needs, whether it's stylish kids' sunglasses, trendy
youth-oriented designs, or functional and sophisticated options for seniors.
Brand and Designer Appeal:
The presence of renowned eyewear brands and fashion designers in the sunglasses
market elevates their desirability. Brands like Ray-Ban, Oakley, Maui Jim, and
designer labels such as Gucci, Prada, and Versace have a dedicated following,
with consumers valuing their quality and status.
Seasonal Variations: The
seasonal nature of sunglasses also contributes to their significant share in
the market. While they are essential year-round, demand typically surges during
the spring and summer months, when outdoor activities increase, and sun exposure
is at its peak.
Health and Wellness Trends:
The growing emphasis on health and wellness has reinforced the importance of
eye care. Consumers are increasingly making conscious choices to protect their
eyes, and sunglasses are viewed as an integral part of maintaining overall
well-being.
Customization and
Personalization: Many consumers seek customized and personalized sunglasses.
Brands offer options for selecting frame styles, lens colors, and even
engraving, allowing customers to create sunglasses that align with their unique
tastes and needs.
E-commerce and Online
Shopping: The rise of e-commerce and online shopping has made it more
convenient than ever for consumers to browse and purchase sunglasses. Online
retailers provide an extensive selection and the ability to virtually try on
different styles, making the shopping experience more accessible and enjoyable.
Sales Channel Insights
Online retail has emerged
as a significant player in the United States eyewear market, transforming the
way consumers shop for prescription glasses, sunglasses, and other
vision-related products. The rise of e-commerce, technological advancements,
changing consumer preferences, and convenience have collectively propelled the
online eyewear market to a prominent position within the broader eyewear
industry.
One of the primary drivers
of online eyewear retail's success is the convenience it offers to consumers.
With just a few clicks, shoppers can browse through a vast selection of eyewear
options, including various styles, shapes, and brands, all from the comfort of
their homes. This convenience is particularly appealing to consumers who lead
busy lives or may have limited access to brick-and-mortar optical stores.
The wide range of choices
available online has significantly expanded the eyewear market's reach.
Customers can explore a diverse assortment of frames, lens types, and coatings.
This variety enables shoppers to find eyewear that suits their personal style,
face shape, and specific vision needs. It has also made niche and specialized
eyewear more accessible to those seeking unique designs or specialized
functionality.
Pricing and affordability
are other factors that contribute to the online eyewear market's success.
Online retailers often offer competitive pricing due to lower overhead costs
compared to physical stores. This makes it easier for consumers to find quality
eyewear at various price points, catering to both budget-conscious shoppers and
those looking for premium, designer eyeglasses or sunglasses.
Virtual try-on tools and
augmented reality applications have bridged the gap between the online and
offline shopping experience. Customers can upload a photo or use their device's
camera to virtually try on different frames, helping them make more informed
decisions. This technology minimizes the uncertainty associated with purchasing
eyewear online.
Another significant aspect
of online eyewear retail is the accessibility of prescription eyeglasses and
contact lenses. Many online eyewear retailers offer a straightforward process
for customers to input their prescription information and order custom eyeglasses
or contact lenses, often at a fraction of the cost of traditional optical
stores.
The increasing popularity
of online eyewear shopping is evidenced by the growth of established online
optical retailers, such as Warby Parker, Zenni Optical, and EyeBuyDirect. These
companies have disrupted the industry by offering affordable, high-quality
eyewear directly to consumers. Their success has encouraged other traditional
optical retailers to establish an online presence.
Despite the convenience and
advantages of online eyewear shopping, there are some challenges that the
industry faces. One of the key challenges is the need for accurate
prescriptions, which must be obtained through regular eye examinations. While
online retailers typically request prescription details from customers,
ensuring the accuracy of these prescriptions remains critical for vision
health.
Moreover, there are
concerns about fitting and adjustments, as well as the absence of in-person
guidance when choosing eyewear. In physical stores, optometrists and trained
staff can assist customers in selecting frames that best fit their facial
features and provide personalized adjustments for comfort and vision clarity.
Online retailers attempt to address this challenge by offering return policies
and virtual try-on tools, but the in-person experience remains unmatched.
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Regional Insights
The southern region of the United States has
emerged as a substantial and influential player in the country's eyewear
market. This prominence can be attributed to several key factors, including
changing demographics, increased fashion consciousness, a focus on eye health,
and the region's vibrant lifestyle and cultural diversity.
Changing Demographics: The southern region of the
United States has experienced notable population growth and demographic shifts
in recent years. With a mix of young, urban professionals and a growing aging
population, the demand for eyewear has increased significantly. Younger
consumers seek fashionable eyewear, while older individuals require
prescription glasses for age-related vision issues.
Fashion Consciousness: The South has become
increasingly fashion-conscious, with cities like Atlanta, Miami, and Austin
emerging as fashion hubs. Eyewear is no longer just a functional accessory but
a fashion statement. As a result, consumers in the South are more inclined to
invest in stylish eyeglasses and sunglasses to enhance their overall look.
Eye Health Awareness: There is a growing awareness
of the importance of eye health in the southern region. Regular eye check-ups
and the need for corrective eyewear are emphasized, leading to an increased
demand for prescription eyeglasses. Additionally, the high levels of sun
exposure in many southern states drive the need for sunglasses to protect the
eyes from harmful UV rays.
Cultural Diversity: The South's rich cultural
diversity has led to a demand for a wide variety of eyewear styles. Different
communities and cultures often have unique eyewear preferences. This diversity
has created a market for a broad range of eyeglass frames and lens options to
cater to the specific needs and preferences of various communities.
Outdoor Lifestyle: The mild climate and abundance
of outdoor activities in the South encourage an active outdoor lifestyle.
Whether it's hiking, golfing, or simply enjoying the sunny weather, people in
the region recognize the importance of protecting their eyes. This has resulted
in a higher demand for performance sunglasses that offer both style and UV
protection.
Urban Centers: Southern urban centers are hubs for
business, fashion, and entertainment. Residents of these cities often seek the
latest eyewear trends, making eyewear retailers and optometrists a vital part
of the urban shopping experience. Southern cities' dynamic lifestyles and
flourishing arts and culture scenes contribute to the demand for eyewear that
complements various occasions and settings.
Access to Healthcare: Many southern states have
made efforts to improve access to healthcare services, including vision care.
This has made it easier for residents to get their eyes checked, obtain
prescriptions, and access eyewear, which, in turn, has boosted the eyewear
market.
Rising Disposable Income: The South has witnessed
rising disposable income levels, allowing consumers to allocate more of their
budget to eyewear. This financial capacity enables them to explore a wider
range of eyewear options, from luxury designer brands to custom-made frames.
Recent Developments
- In December 2021, Saflio
Group announced the introduction of Imprint 3D technology, developed and
launched under its proprietary brand Smith. Smith has developed this
patent-pending Imprint 3D Technology to cater to a wide range of facial shapes
and features, while moving away from the one-size-fits-all approach to sports
gear. The initial release showcases a groundbreaking custom-crafted 3D printed
snow goggle that offers enhanced comfort, eliminates light leaks resulting from
improper fit, eliminates pressure points or discomfort, and provides an
expanded field of view.
- In September 2021, Luxottica Group's Ray-Ban
unveiled its latest line of smart glasses, featuring functionalities to assist
customers in capturing images and videos, sharing their adventures, enjoying
music, and making calls with Ray-Ban Stories. Initially available for purchase
online and at select retail locations across the United States, Australia,
Canada, Ireland, Italy, and the United Kingdom, these smart glasses offer 20
style combinations and start at a price of USD 299.
Key Market Players
- 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.
|
By Product Type
|
By End User
|
By Sales Channel
|
By Region
|
- Sunglasses
- Spectacles
- Contact Lenses
- Sports Eyewear
- Others
|
|
- Supermarkets/Hypermarkets
- Specialty Stores
- Online
- Others
|
- South
- West
- Mid-West
- North-East
|
Report Scope:
In this report, the United
States eyewear market has been segmented into the following categories, in
addition to the industry trends which have also been detailed below:
- United
States Eyewear Market, By Product Type:
o Sunglasses
o Spectacles
o Contact Lenses
o Sports Eyewear
o Others
- United States Eyewear Market, By End User:
o Women
o Men
o Unisex
- United States Eyewear Market, By Sales Channel:
o Supermarkets/Hypermarkets
o Specialty Stores
o Online
o Others
- United States Eyewear Market, By Region:
o South
o
West
o
Mid-West
o
North-East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United
States eyewear market.
Available Customizations:
United States Eyewear market report with the
given market data, Tech Sci Research offers customizations according to a
company's specific needs. The following customization options are available for
the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
United States Eyewear Market is an upcoming report
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