Mar 02, 2015

Global Industry Analysts Anticipate Eyeglasses Market Will Reach $95.66 Billion

Past years experienced a slight decrease in the eyeglasses market, which is contributed to the economic recession. With the economy increasing, the global market for eyeglasses is anticipated to increase and reach $95.66 billion by this year. This increase in growth is a mix of factors, including refractive disorders, growing awareness over eye health and protection and an increase in the number of aging baby boomers.

Shedding their once solely utilitarian imagine, eyeglasses and wholesale designer sunglasses are the latest fashion trends. Instead of spending money on high end designer sunglasses, trends will be towards affordable designer wholesale sunglasses by the dozen, which allows retailers to pass on substantial savings to customers.

Furthermore, the Internet is anticipated to help increase the sunglasses’ market, allowing retailers to purchase less expensive designer sunglasses wholesale while still making a substantial profit, while passing on savings to customers. Revenue sales from the Internet is increasingly on the rise, which is creating a growing demand for inexpensive-priced, but quality sunglasses. This is expected to add even more momentum to the overall eyeglasses market over the next several years.

According to this detailed report, the unit analytics for sunglasses is further broken into material types, including:

  • Lenses – Glass, plastic, MHI and polycarbonate;
  • Frames – Metal and plastic; and
  • Sunglasses – Premium-priced and popular-priced.

Sunglasses are more desirable towards frugal spending customers, which are drawn towards low-cost, cost-effective products that have dominated the market over the last two to three years.

The lenses group for eyeglasses continues to report the highest revenue in the eyeglasses market for sales, while the frames market displays the fastest Compound Annual Growth Rate (CAGR) from 2007 to present.

Additionally, as more eyeglass wears explore purchasing contacts, they will explore wearing traditional, non-prescription sunglasses, which also opens another market to Olympic Eyewear and other sunglass retailers.

As an analysis expert, Global Industry Analysts has experts reviewing information and conducting full-scale research reports on an annual basis. This includes company reports, industry reports and market trend reports both domestically and worldwide.



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