Global Eyewear Market to expand with the changing consumer fashion trends

Market Overview:
The global eyewear market is expected to grow at a CAGR of 4.69% during the forecast period (2020-2025). The proactive consumer approach offers eyewear manufacturers and retailers the opportunity to expand their consumer base. A major obstacle to the sustainable growth of the eyewear industry is the stark gap in access to advanced, affordable, and effective vision care solutions, especially in underserved economies. E-commerce and online advertising are growing in popularity around the world as major players aggressively implement their online marketing and promotion activities. Online marketing and promotion not only provide easy access to customers, but also to suppliers to reduce your operating costs. The driver for this factor will likely be the sale of glasses through an online platform in the coming years.

Recent Developments:
Entertainment billionaire Leonardo del Vecchio is embroiled in a dispute with Optique GrandVision NV.
https://economictimes.indiatimes.com/magazines/panache/eyewearbillionareleonardodelvecchiocaughtinaspatwithopticalretailergrandvisionnv/articleshow/77141727.cms?from=mr

Market Drivers and Restraints:
The increase in disposable income has led people to buy quality glasses, consistent with their increasing standard of living. Also, people are now opting for fashionable and designer sunglasses in accordance with the latest market trends. Younger demographics are turning towards contact lenses to enhance their visual appearance. Therefore, the high standard of living and the accumulated awareness in fashion would help in the growth of the eyewear market, which would positively affect the growth of the market. They are now making awareness efforts to standardize vision and health care facilities in rural areas, but to reduce vision problems. Long life expectancy and an aging population are the main growth factors in the eyewear market.

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Report is segmented as:
By Product Type:
• Prescription glasses/Spectacles
• Sunglasses
• Contact Lenses

By Mode of Sale:
• Retail Stores
• Online Stores

By End User:
• Men
• Women

Geographical segmentation:
On the basis of geography, this global eyewear market is segregated into regions namely Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America accounts for the major share in the marketplace and likely to continue with a notable CAGR.

Key market players:
The significant organizations accounted in the report, are Carl Zeiss AG, Essilor International S.A., Grand Vision, Johnson & Johnson, Inc., Safilo Group S.p.A., Prada S.p.A., Luxottica Group S.p.A., Valeant Pharmaceuticals, Cooper Vision, Inc. and Fielmann AG.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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