Consumers are attracted to innovative frame designs and materials, such as hypoallergenic and lightweight alternatives. The augmented reality (AR) and smart glasses markets are expanding as well.
WILMINGTON, Del., July 22, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Glasses Frame Market by Shape (Rectangle, Round, Cat Eye, Square, Aviator, Hexagon, Wayfarer, and Others) and By Country (France, Italy, UK, Japan, United States, and South Korea): Global Opportunity Analysis and Industry Forecast, 2024-2035″. According to the report, the global glasses frame market was valued at $14,026.9 million in 2023, and is projected to reach $26,419.3 million by 2033, registering a CAGR of 6.8% from 2024 to 2033.
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Prime determinants of growth
The growing prevalence of vision issues and growing awareness of eye health are factors driving up demand for corrective eyewear. Comfort and style are improved by technological developments in frame materials and innovative design, attracting a larger customer base. The growing trend for fashionable and designer frames is also fueled by the influence of celebrity sponsorships and an increasingly fashion-conscious populace. Increased consumer access to a wider range of options is another benefit of the growth of e-commerce platforms, which increases sales. Furthermore, since older persons frequently use prescription eyewear, the aging of the global population particularly in industrialized regions further promotes market expansion.
Report coverage & details:
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$14,026.9 million
Market Size in 2033
$26,419.3 million
CAGR
6.8 %
No. of Pages in Report
280
Segments Covered
Shape and Country
Drivers
Rise in the aging population Increase in screen time and digital device usage Increased spending on luxury eyewear
Opportunities
Advances in 3D printing technology for frame manufacturing Growth in demand for eco-friendly and sustainable frames
Restraints
Increase in prevalence of counterfeit products Limited distribution networks in rural areas
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The rectangle segment to maintain its leadership status throughout the forecast period.
By shape, the rectangle segment held the highest market share in 2023, accounting for nearly two-fifths of the glasses frame market share and is estimated to maintain its leadership status throughout the forecast period. Many iconic eyewear brands, such as Ray-Ban and Persol, have rectangle frame styles that have become part of their brand heritage and identity, appealing to consumers who desire these classic designs. The wayfarer segment showcases the fastest CAGR of 7.9% during the forecast period. The demand for wayfarer frames has rapidly increased in the global glasses frame market due to their enduring style and versatile design.
United States to maintain its dominance by 2033
Based on the country, the United States held the highest market share in terms of revenue in 2023 and is likely to dominate the market during the forecast period. Consumers in the U.S. prioritize style along with functionality, opting for frames that offer comfort and durability. However, Japan is expected to witness the fastest CAGR of 8.7% from 2024-2033. The glasses frame industry in Japan is expected to thrive, driven by craftsmanship, technological advancement, and a deep-rooted culture of excellence in design and manufacturing.
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Leading Market Players: –
Charmant GroupDe Rigo Vision S.P.A.EssilorLuxotticaFielmann Group AGMarchon Eyewear, Inc.Mondottica LimitedSafilo Group S.P.ASilhouette International Schmied AGTory Burch LLC.Warby Parker
The report provides a detailed analysis of these key players in the glasses frame market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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