US Eyewear Market Size Likely to Expand at a CAGR of 5.2% By 2033

As per the current market research conducted by the CMI Team, the US Eyewear Market size is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 19,140.9 Million. By 2033, the valuation is anticipated to reach USD 30,322.1 Million.

US Eyewear Market: Growth Factors and Dynamics

• Increasing Vision Disorders: The prevalence of vision-related disorders such as myopia, hyperopia, and presbyopia is on the rise in the US population. This growing incidence of vision problems drives the demand for corrective eyewear, including prescription glasses and contact lenses, contributing to market growth.

• Rising Aging Population: The aging population in the US, coupled with the associated increase in age-related vision impairments, fuels the demand for eyewear products. As individuals age, they are more likely to require vision correction, leading to a sustained demand for eyeglasses and reading glasses.

• Fashion and Style Trends: The US eyewear market is influenced by fashion and style trends, with consumers increasingly viewing eyewear as a fashion accessory. The demand for trendy and stylish frames, as well as designer eyewear brands, drives market growth among fashion-conscious consumers.

• Technological Advancements: Technological innovations in lens materials, coatings, and designs have led to the development of more comfortable, durable, and high-performance eyewear products. Advanced features such as anti-glare coatings, blue light filters, and photochromic lenses cater to consumer preferences for enhanced visual comfort and protection, driving market demand.

• Increasing Awareness of Eye Health: Growing awareness of the importance of eye health and regular vision screenings among consumers contributes to the demand for eyewear products. Eye health awareness campaigns and initiatives promote proactive measures to maintain optimal vision health, encouraging individuals to invest in quality eyewear solutions.

• Expanding Distribution Channels: The US eyewear market benefits from the expansion of distribution channels, including online retailers, optical chains, department stores, and specialty eyewear boutiques. The accessibility of eyewear products through various retail channels enhances market penetration and consumer convenience, driving overall market growth.

• Digital Device Usage: The increasing reliance on digital devices such as smartphones, computers, and tablets has led to a rise in digital eye strain and related vision problems among US consumers. This phenomenon drives the demand for specialty eyewear solutions like blue light-blocking glasses designed to reduce eye strain and protect against the harmful effects of prolonged screen exposure, contributing to market growth in the US eyewear sector.

US Eyewear Market: Partnership and Acquisitions

• In 2023, Bausch + Lomb launched SeeNa in the US, an ophthalmic diagnostic system for refractive cataract patients. Integrated with Bausch & Lomb’s Eyetelligence software, SeeNa aims to streamline surgical planning and information flow for improved efficiency in cataract surgeries.

• In 2022, Authentic Brands Group and Innovative Eyewear, Inc. announced a multi-year international licensing agreement for Eddie Bauer smart eyewear. The collaboration aims to bring innovative smart eyewear products to the market under the Eddie Bauer brand.

Report Scope

US Eyewear Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the US Eyewear Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption in Supply Chains: The COVID-19 pandemic disrupted global supply chains, leading to shortages of eyewear products and raw materials. Manufacturing and distribution operations were affected, causing delays in the production and delivery of eyeglasses, frames, and contact lenses.

• Decline in Retail Foot Traffic: Lockdown measures and social distancing protocols resulted in reduced foot traffic in brick-and-mortar optical stores and eyewear retailers. Many consumers postponed non-urgent eye exams and purchases of new eyewear, leading to a decline in sales and revenue for the industry.

• Shift to Online Retail: Eyewear retailers accelerated their online presence and e-commerce capabilities to cater to changing consumer behavior during the pandemic. The shift to online retail allowed consumers to purchase eyewear products conveniently from home, mitigating the impact of reduced foot traffic in physical stores.

• Focus on Telehealth and Remote Services: Eyecare professionals embraced telehealth and remote consultation services to provide essential eye care services to patients during the pandemic. Virtual eye exams, consultations, and fittings allowed patients to receive personalized eyewear prescriptions and recommendations remotely, ensuring continuity of care while adhering to social distancing guidelines.

• Health and Safety Protocols: Optical stores and eyewear retailers implemented stringent health and safety protocols to reassure customers and restore confidence in visiting physical retail locations. Measures such as frequent sanitization, mandatory mask-wearing, and appointment-based visits were implemented to create a safe shopping environment for consumers.

• Product Innovation and Digital Solutions: Eyewear manufacturers focused on product innovation and digital solutions to meet evolving consumer needs and preferences. Advancements in lens technology, frame materials, and virtual try-on tools enhanced the online shopping experience and encouraged consumer engagement with eyewear products.

• Pent-up Demand and Recovery in Consumer Spending: As lockdown restrictions eased and vaccination rates increased, the US eyewear market witnessed a resurgence in consumer spending and pent-up demand for eyewear products. Consumers resumed routine eye exams, upgrades, and purchases of new eyewear, driving market recovery and growth.

In conclusion, the COVID-19 pandemic has had a mixed impact on the US Eyewear Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the US Eyewear Market:

• Luxottica Group S.p.A.
• EssilorLuxottica
• Johnson & Johnson Vision Care Inc.
• CooperVision Inc.
• Alcon a Novartis company
• Safilo Group S.p.A.
• Marchon Eyewear Inc.
• Carl Zeiss Vision Inc.
• Hoya Corporation
• Warby Parker
• National Vision Holdings Inc.
• Eyewear Brands Limited
• Charmant Group
• Maui Jim Inc.
• Oakley Inc.
• Others

The US Eyewear Market is segmented as follows:

By Product Type

• Prescription Eyeglasses
• Sunglasses
• Contact Lenses
• Frames
• Others

By Material Type

• Plastic
• Metal
• Others

By Lens Type

• Single Vision
• Bifocal
• Progressive/Varifocal
• Polarized
• Photochromic
• Others

By End-User

• Men
• Women
• Children

By Distribution Channel

• Optical Stores
• Online Retailers
• Specialty Stores
• Eyewear Chains
• Others