Summary

Eyewear is a corrective or protective device that is designed to safeguard eyes from harmful radiation, improve vision, and add to the overall appearance of an individual. The eyewear market in North America has seen remarkable growth in recent years, with increasing demand for vision correction, fashion-forward frames, and technological advancements in lens materials. Eyewear, once solely a functional necessity for those with visual impairments, has now become a fashion statement and a lifestyle accessory. The North American eyewear market has evolved to cater to a diverse range of consumers, from those seeking prescription eyeglasses and contact lenses for vision correction to those looking for sunglasses and blue-light-blocking glasses for eye protection and style. Factors such as an increasing life span, a growing geriatric population, and changing fashion trends have fostered the demand for eyewear worldwide. Consumers nowadays wear eyewear not only for vision correction but also to improve their appearance. Because of technological breakthroughs and the availability of lightweight materials, numerous market players provide new spectacles and lenses. Product innovation through technological and functional advancements in the eyewear industry has boosted the growth of the North American eyewear market. Market participants are focusing on introducing products with different styles and functionalities that meet individual needs, which has led to the expansion of the eyewear market in this area. Technological advancements in the eyewear industry are transforming the way eyewear is designed, manufactured, and worn. Advanced lens technologies, such as photochromic lenses and high-definition lenses, are gaining popularity among consumers who are looking for enhanced visual performance and eye protection. Similarly, the use of 3D printing technology in eyewear manufacturing is enabling customization, faster production, and reduced costs.

According to the research report, "North America Eyewear Market Outlook, 2028," published by Bonafide Research, the market was valued at over USD 39 billion in 2022. The region's strong per capita earnings, combined with changing fashion trends and tastes for luxury goods, have fueled the region's eyewear industry growth. As a result, manufacturers are producing a varied selection of frames while keeping in mind the various needs and tastes of consumers. Additionally, the changing lifestyles of consumers and technological advancements in the industry have resulted in the launch of innovative products, such as smart glasses with liquid lenses, removable temples, laser glasses, and paediatric glasses. Apart from this, a surge in the number of optical deficiencies in the geriatric population has increased the demand for eyewear products in the region. The growing senior population is boosting the growth of the eyewear market, as the population's eyesight is deteriorating. This often manifests as presbyopia after the age of 40 or as age-related macular degeneration beyond the age of 60. According to the U.S. Census Bureau, the geriatric population (aged 65 years and over) is expected to nearly double in the next four decades, reaching over 80 million by 2050. Moreover, by 2030, over 1 in 5 United States residents are expected to be counted among the older population, which is the largest proportion on record. This is further expected to increase the number of people requiring some form of vision correction in this region, which in turn is propelling growth of the eyewear market in North America. Also, according to the government of Canada, by 2030, the geriatric population will be over 9 million. This is expected to propel the growth of the eyewear market in this region.

Millennials' changing lifestyle habits and increased use of luxurious accessories are major development factors for the North American eyewear market. 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. Based on the report, the market is segmented into three major countries, including the United States, Canada, and Mexico. Among them, the United States will lead the overall market in 2022 with over 75% market share. Eyewear has become more than just a functional necessity; it has also become a fashion statement. Many people now view eyeglasses and sunglasses as accessories that complement their personal style. As a result, there is a growing demand for trendy, fashionable, and designer eyewear, including prescription glasses and sunglasses, which have contributed to the growth of the eyewear market in the United States. Also, with the growing awareness of the importance of eye health and the need for regular eye examinations, more people are seeking eyewear for vision correction. This includes eyeglasses and contact lenses, which are essential for those with refractive errors such as myopia (nearsightedness), hyperopia (farsightedness), and astigmatism. As per the obtained data, more than 180 million adults in the United States wear eyeglasses for vision correction, and more than 45 million adults wear contact lenses. Additionally, many people in the U.S. wear sunglasses for eye protection from harmful UV rays and glare, as well as for fashion and style purposes. Furthermore, specialised eyewear, such as blue light-blocking glasses and computer glasses, is gaining popularity in the United States due to increased digital device usage and concerns about eye strain and blue light exposure.

Based on the report, the market is segmented into various product types, including spectacles, sunglasses, contact lenses, and others. Among them, spectacles are most commonly used for vision correction for refractive errors such as myopia, hypermetropia, and astigmatism. In the USA, around 75% of adults use some sort of vision corrector, and around 64% of the adults use spectacles as their preferred form of vision correction. The growth of corrective glasses is mainly driven by the increasing population suffering from refractive errors and the cost-effectiveness of eye care devices over refractive surgeries. Females have a larger risk of getting refractive errors than men. All of these causes contribute to the global expansion of the corrective glasses industry. Increasing acute myopia among young consumers and increased knowledge about eye health are expected to fuel market expansion throughout the forecast period. The enormous increase in smartphone and computer users is exacerbating cases of computer vision syndrome (CVS), which is produced by focusing the eyes on a laptop or other display device for an extended period of time. This factor has also been influencing the sales of corrective eyewear over the past few years. However, the children are also being diagnosed with myopia at a much younger age than before. The most noticeable reason for the increase in eye issues is the overuse of gadgets. Manufacturers are capitalising on this factor by focusing on the development of new eyeglasses and glares that serve as a remedy or substitute for such concerns.

Because the United States has a different office culture than other countries, there is a high demand for smart devices such as laptops, desktop computers, mobile phones, and tablets. Because wearing lenses is considered stylish, there is a high demand for lenses rather than spectacles. Contact lenses are preferred by the younger generation, who require prescription spectacles to improve their appearance. As a result, the country's need for lenses is constantly expanding. Various colours of contact lenses based on clothing are made accessible online, especially during Halloween events. Furthermore, an increase in the adoption of coloured or ornamental contact lenses among fashion enthusiasts is likely to boost the contact lens industry. For example, in November 2019, the US FDA authorised the MiSight contact lens, a single-use, disposable, soft contact lens suggested to decrease the progression of myopia (nearsightedness) in children aged 8 to 12 at the time of treatment's beginning. Furthermore, an increase in R&D by local and regional players for the creation of contact lenses is expected to propel the contact lens market forward. ApexLens Co., Ltd., for example, began a clinical trial in 2020 to evaluate the performance and safety of silicone hydrogel soft contact lenses (SHSCL). Authentic Brands Group and Innovative Eyewear, Inc. signed a multi-year international licencing arrangement for Eddie Bauer smart eyewear in December 2022.

The rising awareness about the importance of vision care and the growing availability of vision insurance are also fueling the growth of the market. According to the American Optometric Association (AOA), more than 80% of Americans have some form of vision insurance. Moreover, the government is also taking initiatives to promote vision care. For instance, the Centres for Disease Control and Prevention (CDC) have launched the National Centre for Health Statistics (NCHS) to collect data on visual impairments. Furthermore, changing lifestyles and increased exposure to digital screens have led to a rise in cases of digital eye strain, which has created a demand for blue light-blocking eyewear. Blue light-blocking glasses are designed to protect the eyes from harmful blue light emitted by digital screens, reducing eye strain and improving sleep quality. As people spend more time on screens for work, entertainment, and socialising, blue light-blocking glasses have become a popular choice for those seeking to protect their eyes and enhance their visual comfort in North America. The eyewear industry has responded to this demand by offering a wide variety of frames that cater to different tastes and preferences. From classic and minimalist designs to bold and avant-garde styles, eyewear has become a way for consumers to express their individuality and enhance their overall appearance. Moreover, the concept of personalised eyewear has gained traction in the North American eyewear market. Many eyewear brands now offer customization options, allowing consumers to choose from various frame materials, colours, shapes, and sizes to create their own unique pair of eyeglasses or sunglasses. Personalised eyewear not only allows consumers to express their style but also offers a perfect fit and comfort, making it a popular choice among fashion-conscious consumers.

According to the report, the North American market is segmented into three price ranges, including low, medium, and premium. Among them, the medium segment will lead in 2022 with more than 40% market share. A significant portion of consumers in North America may opt for mid-range eyewear products, which may offer higher quality, additional features, and a wider range of styles and designs. This could include eyeglasses with branded frames, prescription sunglasses with polarised lenses, or specialty contact lenses. Prices for mid-range eyewear products can range from approximately $100 to $300 or more, depending on the specific product and brand. However, many consumers in North America may prefer eyewear products that are affordable and provide good value for money. This may include budget-friendly eyeglasses, contact lenses, or sunglasses that offer basic vision correction or eye protection without compromising on quality and durability. Some consumers in North America may prefer premium or designer eyewear products, which are often associated with luxury, fashion, and prestige. These may include high-end eyeglasses with designer frames, luxury brand sunglasses with premium lens technologies, or specialty contact lenses with advanced features. Further, based on the distribution channel, specialty stores (optical stores) are expected to dominate the market by the end of the forecast period due to their expertise, specialisation, wide range of options, high-quality products, personalised service, enhanced shopping experience, and customer loyalty. These factors contribute to their strong position and customer preference in the competitive eyewear market. LensCrafters, Warby Parker, Sunglass Hut, EyeBuyDirect, Pearle Vision, Oliver Peoples, SEE Eyewear, MyEyeDr., Cohen's Fashion Optical, and Americas Best Contacts & Eyeglasses are some of the examples of specialty stores for eyewear in North America.

Companies mentioned in the report:
EssilorLuxottica, Johnson & Johnson, Inc, Safilo Group S.P.A., Bausch Health Companies Inc., The Cooper Companies Inc., De Rigo Spa, Marchon Eyewear, Inc., Charmant Group, Hoya Corporation, Jins Eyewear US, Inc., Rodenstock GmbH, Silhouette Group, Zeiss Group, Marcolin SPA

Considered in this report
• Geography: North America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• North America Eyewear market with its value and forecast along with its segments
• Country-wise Eyewear market analysis
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries Covered in the report:
• United States
• Canada
• Mexico

By Product Type:
• Spectacles
• Sunglasses
• Contact Lenses
• Other Product Type (Eye Care)

By Distribution Channel:
• Hypermarket and Supermarket
• Speciality Stores ( Optical Stores )
• Franchises/ Company outlets
• Online stores
• Others (Hospitals & Clinics)

By Gender:
• Men
• Women
• Unisex
• Kids

By Price Range:
• Premium
• Medium
• Low

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Eyewear industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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