Eyewear Market Size, Share, Growth Analysis, By Products(Contact Lenses, Spectacles, Sunglasses), By Distribution Channel(Retail Stores, Online Stores, Ophthalmic Clinics), By Region - Industry Forecast 2024-2031

Eyewear Market size was valued at USD 201.13 billion in 2022 and is poised to grow from USD 218.02 billion in 2023 to USD 415.66 billion by 2031, growing at a CAGR of 8.40% in the forecast period (2024-2031).

The global eyewear market is driven by the growing demand for corrective lenses and prescriptions especially among the elderly population. According to, the National Health and Aging Survey study in the United States in 2021 that 27.8% of United States adults over the age of 71 have low vision increased. Also, increasing consumer awareness towards eye care drives the eyewear market immensely along with rising disposable income and demand for fashion trends among the youth is another key factor as it increases eyeglasses and sunglasses over the forecast period. 

Over the last few years, the market has witnessed a high conversion rate based on factors such as increased interest among consumers to opt for performance-related sunglasses due to the adoption of sunglasses for outdoor activities. For example, according to the Outdoor Foundation, there were more than 64 million people in the U.S. engaged in outdoor activities in 2021, with walking and E-retailing being the most popular and online advertising is gaining prominence in the market. Key operators offer online marketing and promotions using the systems. Online marketing and promotions facilitate customer access and help retailers reduce operating costs. This feature is expected to increase the sales of eyeglasses through online platforms in the coming years.

US Eyewear Market is poised to grow at a sustainable CAGR for the next forecast year.