Where Are My Glasses? Eye Wear Market in Demand

1,143 views

EyewearDuring my childhood days I loved wearing my dad’s spectacles and would never miss any visit to the optical store. I was fascinated by the array of spectacles and would long to wear them. In those days, Eye glasses were like an essential commodity they were big, heavy, and thick framed and had even thicker lens which would be housed on the top of the nose. It was a commodity product, earlier only people with poor vision problem used to wear them. Contact lenses were few and only brave users would try or afford them. Sunglasses were not a fashion statement it would be used to protect the eye from harmful rays. A lot has changed since those times.

The first eyeglasses were made in Italy at about 1286. They had quartz lenses, as optical lenses were not invented. They were set into bone, leather or metal molding, the shape of the spectacles would look like two small magnifying glasses with handles that would be balanced on the bridge of the nose. From contact lenses to sunglasses and to regular spectacles people now are spoilt for options. The demand for the eye wear has seen a steady increase in the past few years.

A market research firm estimates that the US eyewear market is set to grow at a Compound Annual Growth Rate (CAGR) of 2.57% in the next 3 years and the total eye wear market in the United States generated about 34.54 billion U.S. dollars.

The steep rise in demand in the market is majorly accounted to fashion. IT has now become a fashion statement to sport a glass even if you don’t have a vision problem. The other reason is the rise in demand for sunglasses, now-a-days people have different sunglasses for different occasion, clothes etc. Another key factor is the rise in eye disorders, People of today’s generation are constantly exposed to many harmful rays and their work condition involves hours of staring at their computers or laptops. The market of eyewear has witnessed the trend of using contact lens for the cosmetic and aesthetic purpose. The increase in the world population also opened several opportunities and potential for the manufactures. Internet is considered as a strong vehicle for selling eye wear. Internet based sale transactions and e-commerce ensures regular demand in cyber space.

Eyewear market had to suffer a little downfall when the laser surgeries were introduced and people started opting for that instead of glasses. Asia Pacific markets are also growing in the years and are soon contributing a large share in the global market share.