Spectacle Lenses - Worldwide

Worldwide

The Spectacle Lenses market is projected to witness a significant growth in the year 2024, with a revenue of US$60.74bn.
The market is estimated to grow annually by 2.98% (CAGR 2024-2029) on a global scale.
The United States is the leading country in generating revenue in this segment, with a projected revenue of US$13,750m in 2024.
When looking at the per capita revenue figures, it is expected that US$7.84 will be generated per person in 2024 worldwide.
The volume of the Spectacle Lenses market is predicted to reach 0.7bn pieces by 2029.
In the year 2025, the Spectacle Lenses market is expected to exhibit a volume growth of 0.8%.
The average volume generated per person in the Spectacle Lenses market is projected to be 0.1pieces in 2024 globally.
The demand for progressive lenses is growing in developed countries like the United States, while single-vision lenses remain popular in developing countries such as India.

Key regions: United Kingdom, Sweden, India, United States, Europe

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Analyst Opinion

Annual growth in the global eyewear market is expected to be robust over the next five years. Shifting consumer megatrends, transforming market structures and technological innovations are key drivers of this growth. Particularly, ageing is one of the most significant global demographic factors impacting eye care as the need for vision correction increases and becomes more complex as a person grows older. Additionally, increasing screen time especially among youngsters might cause more serious effects than previously thought, supporting the constant demand for preventive eye care.

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).