According to the report by Expert Market Research (EMR), the Global Spectacles Market Size is projected to grow at a CAGR of 7.2% between 2023 and 2028. Aided by the increasing demand for prescription eyewear and the expanding applications of spectacles in fashion and sports, the market is expected to grow significantly by 2028.
Spectacles, consisting of lenses mounted in a frame, are widely used to correct vision impairments, such as myopia and hypermetropia, or to protect the eyes from environmental hazards. Additionally, spectacles have evolved beyond their functional use to become essential fashion accessories, gaining popularity in the fashion industry and among consumers seeking to enhance their personal style, aiding the spectacles market growth. Spectacles also find applications in sports and recreational activities, where they serve to protect the eyes and improve visual acuity.
The rise in the prevalence of visual impairments is a key factor driving the global spectacles market growth. The increasing screen time due to the ubiquitous use of digital devices, coupled with an aging global population, has led to a surge in vision-related issues, bolstering the demand for corrective eyewear. The World Health Organisation’s reports indicating that approximately 2.2 billion people globally have a vision impairment or blindness further underscores the critical demand for spectacles.
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Beyond their utility in vision correction, spectacles have also gained substantial traction as a fashion statement, thus increasing the spectacles market demand. The evolving fashion trends and growing consumer consciousness about personal appearance have propelled the demand for trendy and designer spectacles. Celebrities and fashion influencers sporting stylish frames have further cemented the status of spectacles as a popular fashion accessory.
In addition, the expanding applications of spectacles in sports and outdoor activities significantly contribute to the spectacles market development. Athletes and outdoor enthusiasts increasingly prefer sports eyewear, which offers enhanced vision and protection against environmental factors such as wind, dust, and ultraviolet rays. The advent of innovative spectacle designs that offer comfort, durability, and improved performance has further spurred the adoption of spectacles in the sports sector.
The advancement in lens technology also plays a crucial role in propelling the spectacles market. The introduction of lenses with coatings for anti-reflection, scratch resistance, and blue light filtering has enhanced the functionality and appeal of spectacles. The development of progressive lenses that cater to presbyopia without the visible line of bifocals is another significant technological breakthrough bolstering the spectacles market expansion.
Spectacles Market Segmentation
The market can be divided based on parts, distribution channel, and region.
Market Breakup by Parts
- Lens
- Frames
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global spectacles companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- EssilorLuxottica SA
- Johnson and Johnson
- Novartis AG
- Carl Zeiss AG
- Zenni Optical, Inc.
- Jand, Inc.
- Others
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