Key Takeaways
Key players operating in the eyewear market are Worksite Lighting LLC, DCD Technologies ME FZCO, Azz Inc., Nemalux Inc., IKIO LED Lighting, Luceco Middle East FZCO, Glamox UK, WAROM Technology MENA FZCO, SA Equip, Shenzhen CESP Co. Ltd., Raytec Ltd., PROLUX International FZ LLC, Hilclare Lighting, Munira Lighting (AL Hatimi Trading FZE), Hubbell Limited, Emerson FZE (Emerson Electric Co.), Current Lighting Solutions LLC (GE. The rising prevalence of visual disorders such as myopia, hyperopia, astigmatism and presbyopia across both developed and developing countries is fueling the demand for eyewear products. Rapid urbanization, growing geriatric population, and increasing health awareness levels are key factors driving the growth of the global eyewear market.
Key global market players are increasingly investing in expanding their operations across emerging markets of Asia Pacific, South America, Middle East and Africa to tap rising demand. Companies are also focusing on online sales platforms to strengthen their positions and improve accessibility to customers across remote locations.
Market Drivers
One of the major driver for the growth of the Eyewear Market Size is rising awareness about vision correction and eye care. Numerous non-profit organizations and eye care institutes across regions are undertaking programs to educate people about common vision conditions and treatment options including eyeglasses and contact lenses. Their efforts to spread awareness about benefits of regular eye checkups are positively influencing the sales of eyewear products worldwide.
Geopolitical Impacts on Eyewear Market Growth
The eyewear market is facing challenges due to the current geopolitical situation. The Russia-Ukraine conflict and global economic downturn are negatively impacting supply chains and consumer demand. Rising inflation caused by high energy and commodity prices is reducing consumer purchasing power worldwide. This is lowering sales volumes in the eyewear industry as people cut back on discretionary spending.
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