DUBLIN , Oct. 3, 2022 /PRNewswire/ — The “United States Eyewear Market, By Product Type, By End User, By Distribution Channel, Simply by Region, Competition Forecast & Opportunities, 2027F” report has been added to ResearchAndMarkets. com’s offering.
Usa eyewear market is anticipated to grow at a CAGR of 5. 84% during the forecast period to reach USD40. 62 billion by 2027 due to changing lifestyles plus growing fashion taste across the country.
Another key element driving this market’s expansion is that eyeglasses, regarded as a necessity for people with poor eyesight, are in high demand in the United States , along with sunglasses and contact lenses.
To increase their consumer base, corporations also offer new items, such as smart sunglasses and spectacles. Furthermore, the particular growing presence of big enterprises on online sales platforms is fueling the market’s growth in the particular country, and this trend will be expected to continue during the projected period.
In the United States , almost 85% of the population uses sunglasses because extended exposure to the particular sun’s UV radiation can cause cataracts, macular degeneration, plus pterygium. The particular sunglasses shield the eyes from dangerous UV rays and reduce glare and increase the color and contrast of the vision, making driving and other activities easier. Sunglasses are furthermore worn in order to protect the particular eyes after surgery plus alleviate headaches and migraines, commonly caused by strong sunlight.
The COVID-19 pandemic hindered the eyewear industry’s development. Demand for eyeglasses declined marginally in the market due to the pandemic and store closures. The lockdown impacted labor and resource availability, impacting the eyewear industry’s manufacturing scale. The eyeglass supply chain has been harmed due to the fact of transportation constraints.
Rising Standard of Living of Consumers Boosting the particular Market Growth
The particular living standards of consumers are rising in the United Says as per capita income rises. People are opting for a more leisurely lifestyle that prioritizes safety, which tendency offers fueled the particular growth of various modern technology businesses.
According to the Federal Reserve Bank associated with St . Louis , Americans’ per capita disposable income was around USD42. 44 thousand in January 2015 , grew to USD50. 74 thousand in January 2020 , and increased again in order to USD58. 04 thousand within January 2021 . These are some of the most important aspects that will influence eyeglasses demand in the upcoming years.
Rising Demand for Smart Eyewear Among the Consumers
The eye care industry has seen a new trend in developing smart glasses since Google introduced their own smart glasses in 2013. Although it was pulled from the particular market right after 18 months due to its high cost and inconvenience, smart eyeglasses with better functions are usually constantly being introduced by manufacturers.
In 2021, with regard to example, Meta (formerly known as Facebook) teamed up with Ray-Ban to release the first smart glasses, dubbed ‘Ray-Ban Stories. ‘ Users may listen to music, make phone conversations, plus capture photos and short films using the glasses, which they can share across Meta’s services via a companion app. In the same way, Amazon will certainly offer an improved version of its smart eyeglasses, the Echo Frames, inside 2020. The new Echo Frames connect to an iOS or Android phone through Bluetooth and then to the Alexa application.
Rising Online Sales of Eyewear Fueling the Market Growth
Due in order to the growing internet penetration in the usa , an increasing share of consumers prefer to purchase sunglasses through online channels. Manufacturers may be able to reach out in order to the most remote regions of cities without the need regarding a physical facility because of online product sales, which are backed up simply by a range of distribution networks plus logistics. Customers are increasingly turning to the particular internet to purchase eyewear due to various factors such as a huge number of products to pick from, discounts, and deals offered online.
Report Scope
United states of america Eyeglasses Market, By Product Type:
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Sunglasses
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Spectacles
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Contact Lenses
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Sports Eyewear
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Others
United States Eyewear Marketplace, By End User:
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Unisex
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Women
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Men
Usa Eyewear Market, By Submission Channel:
United states of america Eyewear Marketplace, By Region:
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South
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West
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Mid-West
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North-East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in United States eyewear market.
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EssilorLuxottica SA
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Bausch Health Companies Inc.
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Johnson & Manley Vision Treatment, Inc.
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Alcon Vision LLC
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The Cooper Companies, Inc.
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Safilo USA , Incorporation.
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Menicon America, Inc.
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Hoya Vision Care
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Carl Zeiss Vision Inc.
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Zenni Optical, Inc.
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SOURCE Research plus Markets