The global eyewear market consists of prescription glasses, sunglasses, contact lenses and ready-readers. The growth of urban population is expected to accelerate the growth in demand for eyewear products in emerging markets. In emerging markets, the growing need for vision correction is related primarily to increasing levels of affluence and education. As more people are educated and literacy rates increase, they require support for weakening vision.
As societies develop in emerging markets such as Latin America and Asia, the intrinsic need for eyesight correction and eye protection translates into active consumer demand. In a more developed society, the need for vision correction solutions becomes more acute for daily activities such as reading, driving and the use of digital displays, as well as changes in labor and education conditions require good eyesight.
The report “Global Eyewear Market” provides a comprehensive analysis of the global eyewear market, along with an in-depth study of the regional markets including the US, Japan, China, Italy, Germany, France, Switzerland and Austria. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Essilor International SA, Luxottica, Grandvision NV and Safilo Group S.P.A are being profiled.
The key factors driving the growth of the eyewear market are increasing urbanization, under-penetration of eyesight correction in emerging markets, economic development, increasing diabetic population, emerging middle class with increasing need for vision correction, growing need for eye care due to lifestyle changes and ageing population. Some of the noteworthy trends and developments of this industry are growth of contact lens segment, demand for quality sunglasses, emergence of the online eyewear market, innovative designs & fashion statement, shifting to higher value product and varifocals to replace bifocal lenses. However, the expansion of global eyewear market is hindered by barriers to entry and price differentiation.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.