Spectacle Market Growth Analysis | 2023-2028

Market Insights

The spectacle market was estimated at USD 74.9 billion in 2022 and is likely to grow at a CAGR of 2.27% during 2023-2028 to reach USD 85.97 billion in 2028.

Want to know more about the market scope? Register Here

What are spectacles?

Spectacles are optical instruments consisting of a frame that holds a pair of lenses for correcting the defective vision of an individual.

Market Dynamics

The growing demand for spectacle is mainly due to the high predominance of vision-related issues among the youthful age due to the extensive usage of smartphones, televisions, computers, and other digital devices.

Segment Analysis

By Parts Type

Based on the parts type, the market is segmented as frames and lens. The lens segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. The growth of the segment can be attributed to the rising concerns in the eyesight of every age group on account of extensive usage of electronic devices and increasing age. In addition, the demand for single-vision, bifocal, and trifocal is increasing because of these reasons.

By Distribution Channel Type

Based on the distribution channel type, the market is segmented as offline and online. The offline segment is expected to remain dominant during the forecast period due to personal assistance, customization, and convenience to the consumers in physical stores such as optical shop or specialty stores. Further, they provide easy repair and exchange services to customers.

Regional Insights

In terms of regions, North America is estimated to be the largest market for spectacles during the forecast period, with the USA, Canada, and Mexico being the major countries offering substantial growth opportunities. The growth of the region’s market is owing to the increasing aged population and their concerns regarding eyesight.

Know the high-growth countries in this report. Register Here

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The spectacle market is segmented into the following categories.

By Parts Type

• Frames
• Lens

By Distribution Channel Type

• Offline
• Online

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Click Here, to know the market segmentation details.

Key Players

Some of the major spectacle manufacturers are-

• Ciba Vision
• Essilor
• HOYA Corporation
• Johnson & Johnson Vision
• Lenskart
• MODO
• Titan Company Limited
• Warby Parker
• ZEISS International
• Zenni Optical, Inc.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation, and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the part types by distribution channel type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.