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.

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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.

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.

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

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