According to latest Spectacles Market 2020 Global Industry Analysis to 2026, report on “Global Spectacles Industry” published by Fortune Business Insights, The Global Spectacles market is expected to rise at a 5.7% CAGR and projected to reach USD 141.54 billion by 2026. Global Spectacles Market Information segmentation by Product Type (Spectacles Frames and Spectacle Lenses), By Modality (Prescription and Over-the-counter) By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2019-2026.
New research report on Spectacles Market 2020 report presents a comprehensive assessment of the global Spectacles market by Spectacles companies, offering valuable insights, facts, Spectacles industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and basic overview of the industry including definitions, classifications, applications and industry chain structure.
Key players leading the Global Spectacles Market include;
- Zenni Optical.
- Carl Zeiss.
- Warby Parker.
- Fielmann AG.
- Ciba Vision.
- HOYA Corporation.
- Safilo Group S.p.A.
- Johnson and Johnson Vision.
The global spectacles market is projected to reach USD 141.54 billion by 2026, thereby exhibiting a CAGR of 5.7% during the forecast period. Fortune Business Insights™ published this information in a recent report, titled, “Spectacles Market Size, Share & Industry Analysis, By Product Type (Spectacles Frames and Spectacle Lenses), By Modality (Prescription and Over-the-counter) By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2019-2026.” The report further mentions that the market stood at USD 91.56 billion in 2018. However, it is expected to gain momentum from the rising prevalence of ocular disorders, such as myopia, hypermetropia, and astigmatism.
Highlights of the Report:
Elaborative overview of the industry outlook;
360-degree analysis of the factors driving and restraining the market;
Careful study of the different market segments; and
Detailed research into the regional and competitive dynamics influencing the market growth.
In the developed nations, namely, the U.K., Italy, France, and the U.S., premium quality spectacle frames have started becoming a major fashion statement. The demand for trendy eyewear is also gradually increasing in the emerging nations on account of rising disposable income. Besides, there is a reduction in the rate of contact lens usage. The masses are inclining rapidly towards spectacles. Apart from that, several companies present in the market are adopting smart business strategies. All these factors are anticipated to boost the spectacles market growth during the forecast period.
In terms of region, the market is grouped into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Amongst them, North America had generated USD 27.59 billion spectacles market share in 2018 and is likely to retain its dominant position in the coming years. This growth is attributable to the increasing preference for premium eye care products, rising acceptance of vision care products, and surging awareness programs regarding various types of ocular disorders. Additionally, the region houses populaces with high disposable income that can afford to purchase high-quality frames.
Asia Pacific, on the other hand, would follow the footsteps of North America and remain in the second position during the forthcoming period. It is likely to occur because of the rising geriatric population in countries, namely China and Japan. Coupled with this, the increasing prevalence of vision refractive errors and upsurging affordability of vision care products are expected to augment growth in this region.
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Companies present in the market are working persistently to gain the maximum spectacles market revenue in the coming years by launching state-of-the-art products and by acquiring other industry giants. Below are a couple of the latest industry developments:
July 2019: EssilorLuxottica, a designer, manufacturer, and distributor of ophthalmic lenses, frames, and sunglasses, headquartered in France, is set to purchase GrandVision, a provider of high quality and affordable eye care. The total deal is worth USD 8 billion. EssilorLuxottica will be able to take control of the latter’s stores where it sells lenses and spectacles. As per GrandVision, it would provide EssilorLuxottica control of more than 7,000 outlets worldwide. GrandVision’s supervisory boards and management would support the deal.
August 2019: Snap Inc., an American camera and social media company, unveiled an upgraded version of its augmented reality (AR) sunglasses named Spectacles 3. It is equipped with two cameras to shoot videos and images in 3D. They can be used to record 10-second videos of whatever the user is seeing and post them on Snapchat. They are compatible with Android 4.3 and above, and iOS 8 and above. Priced at 330 pounds, they went on sale in November. The eyewear comes with a charging case that folds flat when not in use.
Major Table Of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1. Key Industry Developments – Mergers, Acquisitions, and Partnerships, 2018
4.2. Key Trends in the Spectacles Market
4.3. Epidemiology of Ocular Disorders- For Key Countries
4.4. Introduction of New Products / Approvals (by Major Players)
4.5. Snapshot: Global Eyewear Market
- Global Spectacles Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product Type
5.3. Market Analysis, Insights and Forecast – By Modality
5.4. Market Analysis, Insights and Forecast – By Distribution Channel
5.4.1. Retail Stores
5.4.2. Online Stores
5.4.3. Ophthalmic Clinics
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.3. Asia pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
- North America Spectacles Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis – By Product Type
6.3. Market Analysis – By Modality
6.4. Market Analysis – By Distribution Channel
6.4.1. Retail Stores
6.4.2. Online Stores
6.4.3. Ophthalmic Clinics
6.5. Market Analysis – By Country
- Europe Spectacles Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis – By Product Type
7.3. Market Analysis – By Modality
7.4. Market Analysis – By Distribution Channel
7.4.1. Retail Stores
7.4.2. Online Stores
7.4.3. Ophthalmic Clinics
7.5. Market Analysis – By Country/Sub-region
7.5.7. Rest of Europe
- Asia pacific Spectacles Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Analysis – By Product Type
8.3. Market Analysis – By Modality
8.4. Market Analysis – By Distribution Channel
8.4.1. Retail Stores
8.4.2. Online Stores
8.4.3. Ophthalmic Clinics
8.5. Market Analysis – By Country/Sub-region
8.5.5. Southeast Asia
8.5.6. Rest of Asia Pacific
- Latin America Spectacles Market Analysis, Insights and Forecast, 2015-2026
9.1. Key Findings / Summary
9.2. Market Analysis – By Product Type
9.3. Market Analysis – By Modality
9.4. Market Analysis – By Distribution Channel
9.4.1. Retail Stores
9.4.2. Online Stores
9.4.3. Ophthalmic Clinics
9.5. Market Analysis – By Country/Sub-region
9.5.3. Rest of Latin America
- Middle East & Africa Spectacles Market Analysis, Insights and Forecast, 2015-2026
10.1. Key Findings / Summary
10.2. Market Analysis – By Product Type
10.3. Market Analysis – By Modality
10.4. Market Analysis – By Distribution Channel
10.4.1. Retail Stores
10.4.2. Online Stores
10.4.3. Ophthalmic Clinics
10.5. Market Analysis – By Country/Sub-region
10.5.1. GCC Countries
10.5.2. South Africa
10.5.3. Rest of Middle East & Africa
- Competitive Analysis
11.1. Key Industry Developments
11.2. Global Market Share Analysis (2018)
11.3. Competition Dashboard
11.4. Comparative Analysis – Major Players
11.5. Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
11.5.2. Carl Zeiss AG
11.5.3. Fielmann AG
11.5.4. Safilo Group S.p.A
11.5.5. HOYA Corporation
11.5.6. Zenni Optical, Inc.
11.5.7. Johnson and Johnson Vision
11.5.8. Ciba Vision
11.5.9. Warby Parker
11.5.10. Other Prominent Players
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