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
was forecast to reach close to 300 billion U.S. dollars. This market can be segmented in various ways. For example,
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
over the coming years.
EssilorLuxottica eyewear brand
Luxottica was one of the
leading optical retailers in the United States in 2021, generating approximately 2.4 billion U.S. dollars in sales. Luxottica is one of the largest eyewear companies in the world, responsible for such brands as Ray-Ban, Persol, Oakley and many others. In 2017, Luxottica and Essilor, another eyewear powerhouse, agreed a merger to create EssilorLuxottica. In 2021, the company made sales that amounted to approximately
9.9 billion U.S. dollars in North America. This accounted for around a 46 percent
share of EssilorLuxottica's global sales. While Luxottica retail stores are a popular specialist outlet for eyewear purchases among U.S. consumers, retailers such as
Walmart and Costco also cater to consumers' eyewear needs.
Glasses or contact lenses?
Many consumers who need corrective eyewear have the option to wear
both glasses and contact lenses. Around a third of such people said that they swap back and forth equally between the two, while more people leant towards wearing their contact lenses more often than their glasses. For some people, however, there are downsides to wearing contact lenses. Comfort ranked as a leading factor for consumers who had either
never tried contact lenses, or had
stopped wearing them.
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