Global Eyewear Market Is Likely to Cross Us$ 145.0 Billion by 2020

Global Eyewear Market is Likely to cross US$ 145.0 Billion by 2020

New York, June 02: Market Research Engine has published a new report titled as “Eyewear Market (Spectacles, Contact Lenses, Plano Sunglasses) - Global Industry Analysis, Size, Share, Growth and Forecast 2015 - 2023”

Eye wears provide safety to the human eye from dust and UV rays in daylight. Eye wears consist of various product types which include spectacles, sunglasses and contact lenses. Spectacles eye wears are mainly for those who have trouble seeing objects from a specific distance. A ophthalmologist specifically prescribes the spectacles which further enables the consumers to look clearly without causing strain on their eyes. Contact lenses can also replace spectacles but colored contact lenses are not prescribed by any medical practitioner. Similarly sunglasses are the reason the eyewear market is leading.  

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The Global Eyewear Market is likely to reach around 145 billion by 2020, at a CAGR of 3% during the forecasted period. Europe is the largest consumer of Eyewear market followed by by North America in 2015 and likely to maintain the same ranking till the forecasted period. APAC is the fastest growing market and will continue to grow at the same rate during the forecast period. 

Tremendous growth in eyewear market is owing to increasing demand for sunglasses. Increasing standards of life and sabotaged weather conditions is triggering the demand for sunglasses. Potential increase in population rate with refractive errors is boosting the demand for spectacles and hence increasing global eyewear market in terms of revenue and volume. Counterfeit eyewear products and replicas are a major threat to the key market players in this industry. North America is leading the global eyewear market by volume with outstanding figures.

The global eyewear...