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The global Eyewear Market size is expected to reach USD 323.77 billion by 2030, expanding at a CAGR of 8.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth can be attributed to the rising popularity of customized eyewear, as consumers prefer unique products that can be designed as per their needs. They prefer glasses that suit the face and eye shape, while also focusing on the texture and color of the glasses and the design & material of the frame.
Popular customized eyewear includes photochromic glasses and glasses with high index numbers to eliminate UV radiation. The technological developments in lens-making technology and the availability of 3D printing technology for eyewear manufacturing allow market players to gain a strategic advantage.
For instance, in February 2023, Innovative Eyewear, Inc. launched its newest collection, Lyte 2.0. By combining fashionable frames with cutting-edge technologies like open audio, voice control, and app integrations, the Lyte 2.0 range aims to offer customers a distinctive fusion of style and utility. Users can experience high-quality audio and use the internet with Lyte 2.0, allowing them to stay connected to the world.
The market is being strongly influenced by the collaboration of digital channels with the eyewear value chain, which has exponentially increased the sales of eyewear products. As the e-commerce distribution channel is gaining momentum, several eyewear companies have leveraged it as an opportunity to offer features like product virtualization and virtual facial analysis to their customers. Investing in digital channels helps companies maintain crucial consumer data such as buying preferences, feedback, and search history. This enables companies to offer specific products to their customers in the future.
Another important factor changing the market dynamics is the increased emphasis on sustainability among eyewear companies. They have started offering eyewear made of eco-friendly materials to practice sustainable development while enhancing customer experience. For instance, in August 2022, Zenni launched ReMakes, a new sustainable eyewear collection made with 100% certified recycled post-consumer plastic.
The initiative was aimed at supporting the Wyland Foundation's purpose of promoting, protecting, and preserving the world's seas, waterways, and marine life. Moreover, companies are also applying different materials, including wood, leather, paper, and wool, to develop eyewear with innovative textures, which is expected to attract a more extensive customer base in the coming years.
Related Press Release@ Eyewear Market Report
Eyewear Market Report Highlights
Request A Free Consultation@ https://www.grandviewresearch.com/request-free-consultation/32/rfc
Eyewear Market Segmentation
Grand View Research has segmented the global eyewear market based on product, distribution channel, and region:
Eyewear Product Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
Eyewear Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)
Eyewear Regional Outlook (Volume, Million Units; Revenue, USD Billion, 2018 - 2030)
List of Key Players in the Eyewear Market
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