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Published: Sep, 2019 | Pages:
80 | Publisher: Grand View Research
Industry: Consumer Goods | Report Format: Electronic (PDF)
The global spectacle market size is expected to reach USD 92.96 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 2.4% during the forecast period. Rising incidences of refractive errors, especially among younger population is anticipated to boost the product demand. Furthermore, preference for prescription glasses over contact lenses for effective vision correction is expected to positively influence the growth. Rise in aging population is anticipated to further drive the growth. Increasing prominence of computer glasses to reduce eye strain and headaches is also anticipated to fuel the product demand. Vision problems are prevalent among younger generation owing to technological disadvantages of extended usage of computers, smartphones, televisions, and other digital devices. Increased risk of Computer Vision Syndrome (CVS) is anticipated to drive the demand for anti-glare glasses and in turn fuel the spectacles market. Currently, around 30% of global population is myopic. Around 80% to 90% young population of Asian countries such as China, Japan, Singapore, and South Korea suffers from myopia. According to the Journal of Ophthalmology, by 2050, around 50% of the global population will be myopic. According to the National Health Commission, in 2018, around 53% of mainland Chinese children and adolescents were suffering from myopia. Such high prevalence of nearsightedness is a prominent factor driving the demand for spectacles from Asia Pacific. Commoditization of eye wear industry, influence of media and entertainment personalities, and willingness to splurge on fashionable spectacles are some of the factors driving the product demand. Rising fashion consciousness among millennials coupled with availability of a wide range of fashionable spectacles is anticipated to propel the market. Furthermore, rising demand for vision correction lenses among aging population from Asian and Latin American countries is anticipated to fuel the market growth. Lens segment held the largest market share of 56.2% in 2018, owing to the rising occurrence of vision problems. Rising demand for plastic frames owing to their improved durability and ease of repairing is anticipated to impel the growth of this segment. Manufacturers constantly innovate lens material and add new features to the product. For instance, Crizal lenses by Essilor Ltd. are manufactured using hydrophobic coating that prevents water droplets from sticking to the surface of the lens. Online distribution channel is expected to witness the fastest CAGR of 3.2% from 2019 to 2025 owing to increasing prominence of online shopping for spectacles. The ease of shopping with customization and configuration options coupled with doorstep delivery is anticipated to fuel the growth of the segment. Prominent players in the segment include Warby Parker and ZENNI OPTICAL, INC. North America held the largest market share of 32.6% in terms of revenue in 2018. Rise in aging population in U.S. and Canada is expected to drive the regional demand for spectacles. According to the Vision Council of America, 75% adults from U.S. use vision correction measures, of which around 64% use eyeglasses. This factor is anticipated to propel the regional market over the forecast period. Further key findings from the report suggest: • North America held the largest revenue share of the spectacles market in 2018 and is anticipated to continue its dominance over the forecast period • Frames segment is expected to expand at the fastest CAGR of 2.7% from 2019 to 2025 due to rise in demand as a result of increased commoditization • In 2018, offline distribution channel held the largest market share of about 84.9% in terms of revenue • The market is highly competitive in nature with the presence of key players including Essilor, Ltd.; Johnson & Johnson Vision; CIBA VISION; ZEISS International; HOYA Corporation; ZENNI OPTICAL, INC.; Warby Parker; Lenskart; Titan Company Limited; and MODO
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Spectacles Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier Power
3.5.1.2. Buyer Power
3.5.1.3. Substitution Threat
3.5.1.4. Threat from New Entrant
3.5.1.5. Competitive Rivalry
3.6. Roadmap of Spectacles Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer End-User Adoption
4.4. Observations & Recommendations
Chapter 5. Spectacles Market: Parts Estimates & Trend Analysis
5.1. Parts Movement Analysis & Market Share, 2018 & 2025
5.2. Frames
5.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
5.3. Lens
5.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 6. Spectacles Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2018 & 2025
6.2. Offline
6.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
6.3. Online
6.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
Chapter 7. Spectacles Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2018 & 2025
7.2. North America
7.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.2.1.1. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.2.1.2. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.2.2. U.S.
7.2.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.2.2.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.2.2.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.3. Europe
7.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.3.1.1. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.3.1.2. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.3.2. U.K
7.3.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.3.2.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.3.2.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.3.3. Germany
7.3.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.3.3.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.3.3.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4. Asia Pacific
7.4.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.1.1. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.4.1.2. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4.2. China
7.4.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.2.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.4.2.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.4.3. India
7.4.3.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.4.3.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.4.3.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.5. Central & South America
7.5.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.5.1.1. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.5.1.2. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.5.2. Brazil
7.5.2.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.5.2.2. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.5.2.3. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
7.6. Middle East & Africa (MEA)
7.6.1. Market estimates and forecast, 2015 - 2025 (USD Billion)
7.6.1.1. Market estimates and forecast, by parts, 2015 - 2025 (USD Billion)
7.6.1.2. Market estimates and forecast, by distribution channel, 2015 - 2025 (USD Billion)
Chapter 8. Competitive Analysis
8.1. Key global players, recent developments & their impact on the industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
9.1. Essilor
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. End-User Benchmarking
9.1.4. Strategic Initiatives
9.2. Johnson & Johnson Vision
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. End-User Benchmarking
9.2.4. Strategic Initiatives
9.3. Ciba Vision
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. End-User Benchmarking
9.3.4. Strategic Initiatives
9.4. ZEISS International
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. End-User Benchmarking
9.4.4. Strategic Initiatives
9.5. HOYA Corporation
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. End-User Benchmarking
9.5.4. Strategic Initiatives
9.6. Zenni Optical, Inc.
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. End-User Benchmarking
9.6.4. Strategic Initiatives
9.7. Warby Parker
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. End-User Benchmarking
9.7.4. Strategic Initiatives
9.8. Lenskart
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. End-User Benchmarking
9.8.4. Strategic Initiatives
9.9. Titan Company Limited
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. End-User Benchmarking
9.9.4. Strategic Initiatives
9.10. MODO
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. End-User Benchmarking
9.10.4. Strategic Initiatives
List of Tables 1. Spectacles - Key market driver analysis 2. Spectacles - Key market restraint analysis 3. Global frames market estimates and forecast, 2015 - 2025 (USD Billion) 4. Global lens market estimates and forecast, for female 2015 - 2025 (USD Billion) 5. Global spectacles market estimates and forecast, by offline channel, 2015 - 2025 (USD Billion) 6. Global spectacles market estimates and forecast, by online channel, 2015 - 2025 (USD Billion) 7. North America spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 8. North America Spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 9. North America Spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 10. U.S. spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 11. U.S. spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 12. U.S. spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 13. Europe spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 14. Europe spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 15. Europe spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 16. Germany spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 17. Germany spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 18. Germany spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 19. U.K spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 20. U.K spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 21. U.K spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 22. Asia Pacific spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 23. Asia Pacific spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 24. Asia Pacific spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 25. China spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 26. China spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 27. China spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 28. India spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 29. India spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 30. India spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 31. Central & south America Spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 32. Central & South America spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 33. Central & South America spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 34. Brazil spectacles market estimates and forecast, 2015 - 2025 (USD Billion) 35. Brazil spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 36. Brazil spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 37. MEA spectacles market estimates and forecast, 20145- 2025 (USD Billion) 38. MEA spectacles market revenue estimates and forecast by parts, 2015 - 2025 (USD Billion) 39. MEA spectacles market revenue estimates and forecast by distribution channel, 2015 - 2025 (USD Billion) 40. Vendor landscape
List of Figures 1. Spectacles market snapshot 2. Spectacles market segmentation & scope 3. Spectacles market penetration & growth prospect mapping 4. Spectacles value chain analysis 5. Spectacles market dynamics 6. Spectacles market Porter's analysis 7. Spectacles market: Parts movement analysis 8. Spectacles market: Distribution Channel movement analysis 9. Spectacles market: Regional movement analysis
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