Eyewear - LATAM

LATAM

Revenue in the Eyewear market amounts to US$10.11bn in 2024. The market is expected to grow annually by 3.56% (CAGR 2024-2029).
The market's largest segment is the segment Spectacle Lenses with a market volume of US$4.32bn in 2024.
In global comparison, most revenue is generated in the United States (US$35,210m in 2024).
In relation to total population figures, per person revenues of US$15.90 are generated in 2024.
In the Eyewear market, volume is expected to amount to 907.0m pieces by 2029. The Eyewear market is expected to show a volume growth of 1.0% in 2025.
The average volume per person in the Eyewear market is expected to amount to 1.4pieces in 2024.
By 2024, 76% of sales in the Eyewear market will be attributable to Non-Luxury goods.

Key regions: Worldwide, India, United States, Japan, United Kingdom

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on eyewear products, which include spectacle lenses, sunglasses, eyewear frames, and contact lenses that are produced for private end consumers. Retail sales through both offline and online sales channels are included.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, market data from third-party sources (e.g., independent databases), historical developments, current trends, as well as survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, exponential trend smoothing is well suited for making forecasts about the Eyewear market, which is projected to grow steadily. The main drivers are GDP per capita, consumer spending per capita, and healthcare spending.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).