The eyewear market comprises spectacles, sunglasses, and contact lenses. Eyewear helps protect eyes from external pollution, glare, and provides vision correction. Increasing cases of vision disorders like myopia and hyperopia have boosted the demand for vision correction spectacles and contact lenses. Additionally, growing consumer preference for fashionable and trendy eyewear from top brands helps project one's self-identity and status has raised demand for sunglasses. Manufacturers offer varied frames, lenses, and designs catering to diverse fashion tastes. Frames are made from lightweight durable materials like plastic and metal while anti-reflective coated and UV protected lenses provide vision clarity and protection.

The Global Eyewear Market is estimated to be valued at US$ 163.01 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.

Key Takeaways
The demand for Eyewear Market Size is growing on account of rising vision disorders and increasing focus on ocular health. Favorable demographics of working millennials and Generation Z also contribute to demand as these groups spend considerably on trendy fashion products.

Key players operating in the eyewear market are Worksite Lighting LLC, DCD Technologies ME FZCO, Azz Inc., Nemalux Inc., IKIO LED Lighting, Luceco Middle East FZCO, Glamox UK, WAROM Technology MENA FZCO, SA Equip, Shenzhen CESP Co. Ltd., Raytec Ltd., PROLUX International FZ LLC, Hilclare Lighting, Munira Lighting (AL Hatimi Trading FZE), Hubbell Limited, Emerson FZE (Emerson Electric Co.), Current Lighting Solutions LLC (GE Current), ABB Installation Products Inc., Larson Electronics LLC, R.Stahl Limited, Technology Co. Ltd., Digital Lumens Inc. (OSRAM), Dialight PLC, and Eaton Corporation. These players focus on expanding their retail networks and product portfolios through constant innovation.

Major eyewear companies are expanding globally through acquisitions and partnerships to tap untouched regional markets. For example, in 2022, EssilorLuxottica acquired Australian eyewear retailer OptimEyes. Such strategic deals help companies strengthen distribution networks worldwide and accelerate market penetration.

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