Further key findings from the report:
Spectacles, which comprise frames and lenses, contributed to over 50% of the global eyewear market volume share in 2015 and are projected to witness stable growth owing to the high replacement rate of lenses and constantly changing prescriptions. Additionally, the introduction of progressive and high-index lenses has led to a surge in demand and is projected to continue over the next eight years.
Contact lenses contributed to over 30% of the global market volume share in 2015 and are poised for steady growth throughout the next eight years on account of the high degree of awareness among users coupled with the growing demand for the cosmetic lenses among the younger population. Moreover, the introduction of innovative easy-to-wear, cosmetic, and daily disposable lenses has positively impacted the sales of such products.
The European eyewear market was valued at close to USD 40 billion 2015 and is anticipated to witness steady growth throughout the forecast period.The presence of key eyeglasses vendors, such as Safilo Group S.p.A and Luxottica Group S.p.A in the region is anticipated to boost the regional eyeglasses sales volume in the coming years.The growth prospects for the Asia Pacific eyewear market seem very bullish owing to increase in purchasing power among consumers and wearer base expansion across the region.
Market participants are emphasizing onsupply chain integration,product innovation, and mergers and acquisitions, to gain a foothold in the industry. Establishment of an effective distribution network is the key to achieving global market expansion. The key industry participants include Luxottica Group S.p.A, Safilo Group S.p.A, Fielmann AG, CooperVision Inc., and Bausch + Lomb Inc.
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