GVR Report cover Eyewear Market Size, Share & Trends Report

Eyewear Market Size, Share & Trends Analysis Report By Product (Contact Lenses, Spectacles, Sunglasses), By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jan 2021
  • Report ID: 978-1-68038-018-7
  • Number of Pages: 154
  • Format: Electronic (PDF)
  • Historical Data: 2017 - 2019

Report Overview

The global eyewear market size was valued at USD 147.60 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028. The rising popularity of fast fashion among millennials is encouraging eyewear manufacturers to design affordable and attractive eyewear. To quickly respond to fast fashion trends and attract fashion enthusiasts, eyewear designers regularly come up with new designs and patterns. This offers new revenue generation opportunities to companies by acquiring new customers and ensuring continuous business relations with existing customers. Eyewear providers are diversifying their service offerings to enhance the customer buying experience and to build better business relations.

U.S. eyewear market size, by product, 2018 - 2028 (USD Billion)

Companies such as Vision Express and Coolwinks have started offering an eye check-up facility to their customers from their homes. These companies also allow users to choose their frames and try them on in real-time, with Lenskart offering a wide range of choices, to offer better services and to ensure better customer relations.

The exponential growth of social media is offering new growth avenues for the market. Popular social media platforms offer eyewear companies the opportunity to carefully analyze audience demands and choices, thus enabling them to offer specially curated products according to different geographies. The presence of a sizeable audience on platforms such as Twitter, Instagram, and Facebook enable eyewear companies to penetrate the market more effectively. While creating new channels to market their products, social media platforms enable companies to engage in innovative marketing practices such as influencer marketing and affiliate marketing, thus capturing a larger revenue share.

The COVID-19 pandemic has impacted eyewear adoption trends in 2020. Countrywide lockdowns and the implementation of Work From Home (WFH) models by several companies has resulted in people spending more time on their laptops, desktops, and mobile phones for work and entertainment purposes. The longer screen times and the resulting rise in eye fatigue have facilitated the need to use vision correction and anti-fatigue glasses. This has allowed eyewear companies to capture higher sales of anti-fatigue and blue light canceling lenses, thereby resulting in overall market growth.

Product Insights

The spectacles segment captured a volume share of over 55% in 2020. This can be attributed to the high usage of mobile phones and digital screens, resulting in the rise in the prevalence of computer vision syndrome (CVS) globally in recent years. The growing popularity of online learning has further resulted in children developing CVS, thereby driving the adoption of anti-fatigue and anti-glare glasses. Additionally, recent trends such as the rising popularity of clear eyeglasses and bright translucent glasses have boosted the overall demand for spectacles.

The contact lenses segment accounted for a significant revenue share in 2020. This can be attributed to continuous research in the field of contact lenses to develop products with improved user experience and better aesthetics. The introduction of light-adaptive lenses and multifocal toric lenses has been critical for the growth of the contact lenses segment in recent years. These modern lenses have been designed to smoothly and quickly change according to different lighting conditions, which reduced irritation and dryness often associated with contact lenses.

Electronic focusing eyeglasses are at the introductory stage of their product life cycle and are likely to gain traction in near future. The awareness level of the technology is quite low and the product is yet to be commercialized on a larger scale. Considering their added advantages and benefits, electronic focusing eyeglasses are expected to gain increased popularity among consumers in the next few years.

Distribution Channel Insights

The brick and mortar segment dominated the eyewear market in 2020, with a revenue share of over 79%. There has been a slight decrease in the revenue share from previous years due to the implementation of lockdowns in several countries, which restricted brick and mortar stores' sales. However, the general trend of getting eye-power checked by the optometrist and buying glasses from the store is expected to remain strong over the forecast years. Furthermore, several companies such as Vision Service Plan, eyebobs, LLC, and Glassic, which earlier only had an online presence, have opened physical stores in recent years to facilitate omnichannel sales, generate awareness regarding new product updates, and increase footfall.

Global eyewear market revenue share, by distribution channel, 2020 (%)

The e-commerce segment gained significant revenue share in 2020, as people were encouraged to stay at home and utilize online services for essentials. Furthermore, the rise in the adoption of smart devices, lucrative discounts, and the ability to easily compare prices and eyewear features offered by online players encourage customers to increasingly adopt e-commerce channels. E-commerce websites also enable users to read and write reviews about products, enhancing the customer journey, and promoting them to use e-commerce distribution channels. The rising popularity of the online distribution channel has resulted in a notable rise in the number of online eyewear start-ups worldwide, such as Eyewa, Hubble, and Ace & Tate.

Regional Insights

Europe dominated in 2020 and held a revenue share of over 37%. The region, considered a fashion hub, witnesses people adopting eyewear as a fashion accessory, such as colored contact lenses, sunglasses, and frames. Moreover, the presence of several fashion brands in the region, such as Prada S.p.A., Guccio Gucci S.p.A., Christian Dior, and TOM FORD, ensure that healthy competition is maintained by offering their products at competitive prices. Essentially, eyewear products and sunglasses come under personal protective equipment (PPE) in EU-regulated countries, making it mandatory for suppliers to adhere to the directives. This helps in regulating the market and ensures steady and healthy growth opportunities for eyewear companies.

North America captured a significant revenue share in 2020. The American Academy of Ophthalmology has established guidelines that aid doctors and eye clinics to offer in-person appointments and virtual telemedicine visits. These services, coupled with a well-established e-commerce delivery system, improve the overall user experience regarding eye power consultation and choosing spectacles, thus aiding in market growth. Moreover, the emergence of companies such as Kits is revolutionizing the eyewear industry by using locally manufactured products, thus enabling them to save shipping costs and reduce environmental impact, thereby resulting in regional growth.

Key Companies & Market Share Insights

Continuous R&D activities are being undertaken by established players such as EssilorLuxottica and Johnson & Johnson Vision, providing an impetus to market growth. R&D activities done by these companies are promoting competitors and new entrants to improve their product functionalities and service offerings. For instance, Johnson & Johnson Vision is working on antihistamine-releasing contact lenses, which showcased positive results in phase-3 trials. Patients using these lenses had reduced itching sensation and better experience than non-medicated control lenses.

Eyewear is slowly emerging as an ethical choice for individuals aware of the environmental welfare and wellness of people around them. The emerging trend amongst companies to mitigate climate change and waste reduction is promoting the practice of offering recycled eyewear. Companies such as Sea2see Eyewear and PEL China utilize plastic waste from the sea, recycled metal, and recycled wood to make eyewear. Additionally, Sea2see Eyewear has also collaborated with fishermen from Spain, France, and West Africa to get abandoned fishnets and marine plastic waste to make attractive eyewear products. Some of the prominent players operating in the eyewear market include:

  • Johnson & Johnson Vision Care, Inc.


  • CooperVision

  • Carl Zeiss AG.

  • Bausch & Lomb Inc.

  • Safilo Group S.p.A

Eyewear Market Report Scope

Report Attribute


Market size value in 2021

USD 157.98 billion

Revenue forecast in 2028

USD 278.95 billion

Growth Rate

CAGR of 8.5% from 2021 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Market revenue in USD million and volume in Million Units, CAGR from 2021 to 2028

Report coverage

Revenue & volume forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; South America; MEA

Country scope

U.S.; Canada; Mexico; U.K.; Germany; China; India; Japan; Vietnam; Brazil

Key companies profiled

Johnson & Johnson Vision Care, Inc.; ESSILORLUXOTTICA; CooperVision; Carl Zeiss AG; Bausch & Lomb Inc.; Safilo Group S.p.A.

Customization scope

Free report customization (equivalent to 8 analyst working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global eyewear market report based on product, distribution channel, and region:

  • Product Outlook (Volume, Million Units; Revenue, USD Million, 2017 - 2028)

    • Contact Lenses

      • Premium Contact Lenses

      • Mass Contact Lenses

    • Spectacles

      • Spectacle Frames

        • Type

          • Premium Spectacle Frames

          • Mass Spectacle Frames

        • Style

          • Round

          • Square

          • Rectangle

          • Oval

          • Others

      • Spectacle Lenses

    • Sunglasses

      • Lens Type

        • Polarized Sunglasses

        • Non-Polarized Sunglasses

      • Lens Material

        • CR-39

        • Polycarbonate

        • Polyurethane

        • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

    • E-Commerce

    • Brick & Mortar

  • Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

      • Japan

      • Vietnam

    • South America

      • Brazil

    • MEA

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