At 6.0% CAGR, Fashion Eyewear Market Size Worth USD 172.42 … – Digital Journal

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Fashion Eyewear Market Size, Share & COVID-19 Impact Analysis, By Product Type (Spectacles, Sunglasses, Contact Lens), By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2023-2028
The global Fashion Eyewear Market size was USD 105.56 billion in 2020. The market is projected to grow from USD 114.95 billion in 2021 to USD 172.42 billion in 2028 at a CAGR of 6.0% in the 2021-2028 period.
Manufacturers around the world are increasingly launching forward-looking eyewear products for worsening eye health. Insight into Fortune Business. The CAGR increase is due to the return of demand and growth in this market to pre-pandemic levels once the pandemic ends.
Eyewear are an essential part of everyone’s life. Whether for a so-called nerdy look or a style statement, they are always popular with consumers. In addition, they improve eyesight and protect against the harmful effects of pollution. The most common types of spectacles include numbered spectacles or spectacles, contact lenses, and sunglasses. There are glasses that protect your eyes from harmful UV rays with UV cut film. Perceived as a fashion statement, it continues to be in demand among people as celebrities wear different types of eyewear to advocate for new fashion styles.
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Growing Fashion Eyewear Market boosts growth
According to the World Health Organization (WHO), approximately 2.2 billion people suffer from blindness or low vision. In addition, more than 1 billion people around the world suffer from amblyopia because they do not receive the care they need to treat cataracts, glaucoma, myopia, hyperopia, etc. An increase in the number of people suffering from eye diseases is expected to boost sales of eyewear products in the coming years. Moreover, rising geriatric population in both industrialized and developing regions will bode well for the market growth during the forecast period.
Fashion Eyewear Segment Drives Growth with 79.0% Market Share
The Eyewear segment by product type achieved the highest revenue in 2018, holding a 79.0% market share. Moreover, this segment could dominate the population worldwide due to the increasing cases of hyperopia and myopia. This is likely to be followed by the contact lenses and sunglasses segment as the consumer base in developed and developing countries grows over the projected period.
Company Overview:
Company overview provides the information about location of the company where it is headquartered along with the established year, employee strength as of 2021, regions where the company is operating and the key business areas.
Fiscal Overview:
Overall revenue for the year 2021 and 2022 is provided in the sub title “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers and acquisition, profit or loss in any strategic business unit (SBUs) and others.
Product Benchmarking:
Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.
Strategic Initiatives:
Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in market are covered under strategic initiatives section.
The report also covers in-depth explanations, competitive scenarios, and a broad product portfolio with a broad product portfolio of key players in Global Dental Market and SWOT analysis adopted by competitors. This report provides Porter analysis, PESTEL analysis and market appeal to help you better understand macro and microscopic market scenarios.
Top Players:
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Regional Insights:
Growing demand for premium eye care products in North America boosts demand
Within the region, the North American market remains dominant, generating strong revenue from the global Fashion Eyewear Market in the coming years is expected. Additionally, the region was worth $35.6 billion in 2018 and is expected to grow significantly. This is due in part to the growing acceptance of eye care products in the region. On the other hand, Europe is expected to grow, supported by increased awareness of eye diseases and high demand for premium eye care products. In addition, affordable sunglasses in countries such as the UK, France and Germany contribute to the growth of the European market.
Table of Content from Fashion Eyewear Market:
TOC Continued…
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