Spectacle Lenses - LATAM

LATAM

Highlights

Revenue in the Spectacle Lenses market amounts to US$4.32bn in 2024. The market is expected to grow annually by 3.03% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$14bn in 2024).
In relation to total population figures, per person revenues of US$6.80 are generated in 2024.
In the Spectacle Lenses market, volume is expected to amount to 66.7m pieces by 2029. The Spectacle Lenses market is expected to show a volume growth of -0.1% in 2025.0.
The average volume per person in the Spectacle Lenses market is expected to amount to 0.1pieces in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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).

The eyewear market includes corrective eyewear, such as spectacles and contact lenses, as well as sunglasses and other eyewear products. The global market was valued at around 170 billion U.S. dollars in 2022 and, by 2029, the value of the worldwide eyewear market was forecast to reach close to 300 billion U.S. dollars. This market can be segmented in various ways. For example, vision care products sold at optical retail locations in the United States is a multi-billion dollar market. Alternatively, the market can be divided into four main categories: spectacle lenses, frames, sunglasses, and contact lenses. In the United States, the revenue of all of these eyewear categories are forecast to grow over the coming years.