Report Overview

North America Eyewear Market - Industry Trends & Forecast Report, 2029

North America eyewear market size was estimated to be worth USD 26.55 billion in 2022. During the forecast period between 2023 and 2029, the North America eyewear market size is projected to grow at a CAGR of 6.62% reaching a value of USD 41.29 billion by 2029. Major growth factors for the North America Eyewear market include millennials' shifting lifestyles habits and rising use of opulent accessories. It is projected that an increase in occurrences of vision impairment and eye problems, as well as a desire to follow current fashion trends, will spur market expansion during the forecast period.

North America Eyewear Market – Overview

Eyewear includes goods and accessories worn on or over the eyes for aesthetic purposes, environmental protection, and to enhance or improve eyesight. Sunglasses, contact lenses, and glasses—also known as eyeglasses or spectacles—are common types of eyewear. Goggles are an example of more practical eye protection that may be used as eyewear. In addition to shielding the eyes from digital devices, glasses also prevent dust and grime from entering the eyes. Moreover, eyewear might aid in shielding eyes from dangerous UV radiation.

North America Eyewear Market

Growth Drivers

Increasing Prevalence of Vision Disorders

According to the Centers for Disease Control and Prevention in the United States, 12 million people aged 40 and older have a visual impairment, of which 1 million are blind, 3 million have it after having their vision corrected, and 8 million have it because of uncorrected refractive error. Age-related eye conditions such as age-related macular degeneration, cataract, diabetic retinopathy, and glaucoma are the main causes of blindness and impaired vision. A few more frequent eye conditions are strabismus and amblyopia. With the increasing rate of vision disorders in North America, the demand for eyewear is also projected to rise during the forecast period.

Restraints

Increasing Use of Corrective Eye Surgeries

With increasing vision disorders, the demand for eyewear is also rising. However, a significant number of people in North America who wear glasses choose, if they can, corrective eye procedures like LASIK, PRK, LASEK, EpiLasik, and others. Moreover, tax deductions and insurance coverage are two advantageous government policies that encourage corrective eye surgery in North America. The cost of laser eye surgery is eligible under a Health Spending Account in Canada even if it is not covered by insurance. This may limit the demand for eyewear in the region.

Impact of COVID-19 on the North America Eyewear Market

Initially, the COVID-19 pandemic had a detrimental effect on the expansion of the North America eyewear market. The governments of both nations imposed a lockdown, which stopped people from visiting eye clinics, which had an impact on the sales of prescription glasses. The pandemic also hampered the supply chains for eyewear, which led to huge revenue losses to the market. Nonetheless, the market is anticipated to develop significantly after COVID 19 because of the rise in the use of digital gadgets and their detrimental impact on eye health.

North America Eyewear Market

Segmental Coverage

North America Eyewear Market – By Product Type

Based on product type, the North America Eyewear market is segregated into spectacles, sunglasses, and contact lenses. The spectacles segment holds the highest share in the North America eyewear market owing to the rising rate of visually impaired individuals in the region. Spectacles also offer convenience over contact lenses as they are low maintenance, easy to wear and remove as well as do not need to maintain strict hygiene habits. However, contact lenses also cover a substantial market share. It is estimated that around 45 million or 14% of the US population wear contact lenses.

North America Eyewear Market – By Sales Channel

Based on sales channels, the North America Eyewear market is segmented into retail stores, online stores, and ophthalmic clinics. The retail store segment accounts for the highest market share. Data reveals that around 34.5 million Americans buy over-the-counter reading glasses from retail stores due to their ease of buying as they do not require a prescription. However, the demand for eyewear through ophthalmic clinics is projected to spike during the forecast period owing to the rising rate of visual impairments in North America.

North America Eyewear Market – By End User

Based on end users, the North America Eyewear market is segmented into men, women, and children. The women segment accounts for the highest market share. According to the Vision Council of America, women make up 58% of the population who wear eyeglasses and own at least one of its pairs, whereas men account for only 42%. The market has seen a rise in female customers' demand, notably for fashionable and branded eyeglasses. The main reasons promoting the adoption of eyeglasses goods among women are the increase in the proportion of female professionals and women's economic independence.

North America Eyewear Market – By Region

The report on North America eyewear market covers two major countries: the United States and Canada. The United States dominates the North America eyewear market due to the region's established e-commerce delivery infrastructure, which enhances the user experience for eye power consultation and spectacle choosing. The American Academy of Ophthalmology has created rules for eye clinics and doctors to offer planned appointments and telemedicine sessions. Positive growth opportunities for the market are produced by the availability of these services and the increasing local manufacturing in the area.

Competitive Landscape

Major players operating in the North America eyewear market include Luxottica Group S.p.A., EssilorLuxottica, Johnson & Johnson Vision Care, Inc., The Cooper Companies Inc., Bausch Health Companies Inc., Safilo Group S.p.A., National Vision Holdings, Inc., Visionworks of America, Inc., Warby Parker, Zenni Optical, Marchon Eyewear Inc., Marcolin S.p.A., Carl Zeiss AG, and Ray-Ban.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In December 2022 – Authentic Brands Group and Innovative Eyewear, Inc. have announced a multi-year, international licensing agreement for Eddie Bauer smart eyewear.

Scope of the Report

By Product Type

• Spectacles

• Sunglasses

• Contact lenses

By Sales Channel

• Retail Stores

• Online store

• Ophthalmic Clinics

By End User

• Men

• Women

• Children

By Country

• United States

• Canada

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. North America Eyewear Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing prevalence of vision disorders such as myopia, hyperopia, and astigmatism
         2. Rising disposable incomes in North America
         3. Technological advancements in lens and frame materials are increasing the durability and comfort of eyewear products
      2. Restraints
         1. Increasing use of corrective eye surgeries such as LASIK and PRK is reducing the need for eyewear products.
      3. Opportunities
         1. Growing demand for eco-friendly and sustainable eyewear products
         2. The aging population in North America is increasing the demand for eyewear products
      4. Challenges
         1.  Intense competition in the North America eyewear market is making it difficult for new entrants to gain a foothold.
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. North America Eyewear Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share and Forecast
      1. By Product Type
         1. Spectacles
         2. Sunglasses
         3. Contact lenses
      2. By Sales Channel
         1. Retail Stores
         2. Online store
         3. Ophthalmic Clinics
      3. By End User
         1. Men
         2. Women
         3. Children
      4. By Country
         1. United States
         2. Canada
5. United States Sports Nutrition Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By End User
6. Canada Sports Nutrition Market
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
      2. By Sales Channel
      3. By End User
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. North America Eyewear Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Covid-19 on North America Eyewear Market
9. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Luxottica Group S.p.A.
   2. EssilorLuxottica
   3. Johnson & Johnson Vision Care, Inc.
   4. The Cooper Companies Inc.
   5. Bausch Health Companies Inc.
   6. Safilo Group S.p.A.
   7. National Vision Holdings, Inc.
   8. Visionworks of America, Inc.
   9. Warby Parker
   10. Zenni Optical
   11. Marchon Eyewear Inc.
   12. Marcolin S.p.A.
   13. Carl Zeiss AG
   14. Ray Ban
   15. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

Figures

Figure 1       North America Eyewear Market Segmentation

Figure 2       North America Eyewear Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       North America Eyewear Market Size, By Value (USD Billion), 2019–2029

Figure 5       North America Eyewear Market Share, By Product Type, By Value, 2019–2029

Figure 6       North America Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Figure 7       North America Eyewear Market Share, By End User, By Value, 2019–2029

Figure 8 North America Eyewear Market Share, By Country, By Value, 2019–2029

Figure 9       United States Eyewear Market Size, By Value (USD Billion), 2019–2029

Figure 10     United States Eyewear Market Share, By Product Type, By Value, 2019–2029

Figure 11     United States Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Figure 12     United States Eyewear Market Share, By End User, By Value, 2019–2029

Figure 13     Canada Eyewear Market Size, By Value (USD Billion), 2019–2029

Figure 14     Canada Eyewear Market Share, By Product Type, By Value, 2019–2029

Figure 15     Canada Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Figure 16     Canada Eyewear Market Share, By End User, By Value, 2019–2029

Tables

Table 1 North America Eyewear Market Size, By Value (USD Billion), 2019–2029

Table 2 North America Eyewear Market Share, By Product Type, By Value, 2019–2029

Table 3 North America Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Table 4 North America Eyewear Market Share, By End User, By Value, 2019–2029

Table 5 North America Eyewear Market Share, By Country, By Value, 2019–2029

Table 16      United States Eyewear Market Size, By Value (USD Billion), 2019–2029

Table 7 United States Eyewear Market Share, By Product Type, By Value, 2019–2029

Table 8 United States Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Table 9 United States Eyewear Market Share, By End User, By Value, 2019–2029

Table 10      Canada Eyewear Market Size, By Value (USD Billion), 2019–2029

Table 11      Canada Eyewear Market Share, By Product Type, By Value, 2019–2029

Table 12      Canada Eyewear Market Share, By Sales Channel, By Value, 2019–2029

Table 13      Canada Eyewear Market Share, By End User, By Value, 2019–2029

Table 14      Luxottica Group S.p.A. Company Overview

Table 15      Luxottica Group S.p.A. Financial Overview

Table 16      EssilorLuxottica Company Overview

Table 17      EssilorLuxottica Financial Overview

Table 18      Johnson & Johnson Vision Care, Inc. Company Overview

Table 19      Johnson & Johnson Vision Care, Inc. Financial Overview

Table 20      The Cooper Companies Inc. Company Overview

Table 21      The Cooper Companies Inc. Financial Overview

Table 22      Bausch Health Companies Inc. Company Overview

Table 23      Bausch Health Companies Inc. Financial Overview

Table 24      Safilo Group S.p.A. Company Overview

Table 25      Safilo Group S.p.A. Financial Overview

Table 26      National Vision Holdings, Inc. Company Overview

Table 27      National Vision Holdings, Inc. Financial Overview

Table 28      Visionworks of America, Inc. Company Overview

Table 29      Visionworks of America, Inc. Financial Overview

Table 30      Warby Parker Company Overview

Table 31      Warby Parker Financial Overview

Table 32      Zenni Optical Company Overview

Table 33      Zenni Optical Financial Overview

Table 34      Marchon Eyewear Inc. Company Overview

Table 35      Marchon Eyewear Inc. Financial Overview

Table 36      Marcolin S.p.A. Company Overview

Table 37      Marcolin S.p.A. Financial Overview

Table 38      Carl Zeiss AG Company Overview

Table 39      Carl Zeiss AG Financial Overview

Table 40      Ray Ban Company Overview

Table 41      Ray Ban Financial Overview