Eyewear Market Regional Analysis:
Europe Market Insights
Europe is projected to hold the largest share of 30.1% in the eyewear market over the assessed timeline. The growing use of contact lenses (CL), along with increasing demand for sunglasses in the region, is solidifying its global leadership. According to the report from the European Council of Optometry and Optics, released in June 2020, the population of CL users in this region reached 25.0 million. Similarly, EuromContact revealed that the number of people (aged between 15 and 64) using soft CL in selected countries in Europe (Denmark, Sweden, Norway, Belgium, Spain, Germany, and others) grew by 4.7% from 2021 to 2022. It further mentioned that the soft CL industry in professional eye care was valued at USD 1.8 billion in 2022.
Germany is augmenting the market with established supply and distribution channels in worldwide trade. According to OEC, the country secured its place on the list of top global exporters of CL with a value of USD 1.0 billion in 2023. Simultaneously, it accounted for an import value of USD 429.0 million during the same timeline. Another OEC dataset revealed that Germany imported USD 645.0 million worth of eyewear products in 2023. This signifies the lucrative business environment and inflating demand in this landscape.
APAC Market Insights
Asia Pacific is predicted to register a significant CAGR in the eyewear market during the forecasted timeframe. The region is backed by large domestic producers and innovators in this field. Particularly, developing countries such as China, Japan, and India are becoming global suppliers of creative vision corrective solutions. Additionally, the emerging e-commerce industry in these marketplaces is stimulating growth in Asia Pacific. For instance, IBEF reported that the e-commerce merchandise in India is expected to attain USD 163.0 billion by 2026, augmenting an exceptional CAGR of 27.0%. This region’s progress is further coupled with public and private initiatives. For instance, in November 2024, the KIMS Foundation and Research Centre (KFRC) designed AI-powered smart glasses for blind individuals.
China is positioned among the leading manufacturing hubs of the market. The global trade of associated products is evidence of the country’s proprietorship. In this regard, OEC reported that the nation ranked as the largest exporter of eyewear and eyewear frames in 2023, with values of USD 4.9 billion and USD 3.3 billion, respectively. China is also the largest global supplier of spectacle lenses of other materials, accounting for USD 1.3 billion in export value in 2023. These figures are a direct indication of the country’s manufacturing capabilities, fostering an optimistic trading environment.
