Eyewear Market Outlook:
Eyewear Market size was over USD 201.03 billion in 2024 and is anticipated to cross USD 442.11 billion by 2034, growing at more than 8.2% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of eyewear is assessed at USD 215.04 billion.
The market growth is majorly attributed to the increasing prevalence of sight abnormality across the world. According to the World Health Organization, near-sightedness or farsightedness affected approximately 2.2 billion individuals worldwide in 2023. It also mentioned that 1.0 billion of this number showed the potential of retrieving vision or preventing impairment. Additionally, the estimated global loss of productivity due to this ailment was USD 411.0 billion. Significant deterioration in this medical condition is also observed with aging. Thus, the older population in the world, which is predicted to reach 2.1 billion by 2050 for people aged 60 and over (WHO), is also enlarging the consumer base for this sector.
As these residents become more aware of the available options in the market, more companies show interest in investing. With improving healthcare access and government initiatives in both developed and developing countries, the capital influx in this sector is rising. This is influencing pioneers to curate more innovative solutions, tailored to the consumers’ needs. For instance, in February 2025, Lenskart introduced smart eyeglass, Dubbed Phonic, in the India marketplace. The new addition features Bluetooth audio, voice assistance, and a full-rim Wayfarer design. Such creations are attracting a broader range of investors and consumers in this field by widening product reach and applications.
