Global Eyeglasses Market to Reach US $95.66 Billion by 2015, According to New Report by Global Industry Analysts

GIA announces the release of a comprehensive global report on Eyeglasses market. Despite witnessing a temporary deceleration in growth in recent years primarily due to the recent economic recession, the global market for eyeglasses is expected to recover poise and gain steady momentum in the short to medium term period, to reach US$95.66 billion by 2015. This projected growth in the market will be primarily driven by factors such as rise in refractive disorders, increase in the number of ageing individuals and growing awareness over the importance of eye protection.

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Eyeglasses: A Global Strategic Business Report

San Jose, CA (PRWEB) July 15, 2010

Eyeglasses have, over the years, shed their utilitarian image of being just a vision correction contraption to become a key fashion accessory. Innovative materials for lenses and frames and other technological advances have resulted in several new designs with better aesthetic appeal, style and quality. Eyeglasses are increasingly being used as a facial accessory and a matching item for a wide variety of outfits, and for highlighting the personality of eyeglass wearers.

Earlier a commodity product and a must buy for individuals with poor eyesight, eyeglasses have been traditionally resilient to fluctuations in economic health/climate. However the product's transformation into a new fashion image has exposed it to economic cycles, making it vulnerable to the current economic recession. High-end lenses, frames and sunglasses have all witnessed deceleration in growth as a result of reduction in personal incomes, erosion in discretionary spends, and falling consumer confidence. As a result, frugal consumer spending, cancellation or postponement of consumer purchases, and drift towards low-cost products has squeezed revenues in the global eyeglasses market over last two years.

Despite this gloomy outlook, the global eyeglasses market still remains positive about its future prospects as demographic trends indicate strong market potential in the short to medium term period. While the sheer increase in the world population opens up several new possibilities and opportunities for eyeglass manufacturers and retailers, the already large base of aging population of over 45 years with poor eye vision and symptoms of presbyopia, is forecast to turbo-charge demand further. The rise of the Internet as a potent vehicle for selling eyeglasses is additionally expected to expand the retailing reach of eyeglasses worldwide. Thanks to the growing popularity of E-commerce and Internet based sales transactions, the revenue inflow for eyeglasses from cyberspace is increasingly on the rise. The growing demand for popular-priced sunglasses, and the robust growth outlook for plastic frames and lenses is also expected to add momentum to the total eyeglasses market in the next few years.

Although developed markets such as the US and Europe have been the traditional revenue contributors to the global eyeglasses market, collectively accounting for a major share of the total market revenue, growth in the short to medium term period is at its best in emerging markets of Asia-Pacific and Latin America. The Asia-Pacific region especially is the fastest growing regional market in terms of dollar sales.

As stated in the new market research report announced by Global Industry Analysts Inc., the lenses market continues to remain the largest product group in the total eyeglasses market in terms of dollar sales, while frames market displays the fastest CAGR over the analysis period 2007-2015.

Key players operating in the market include Bausch & Lomb Inc., The Carl Zeiss Group, De Rigo S.p.A., Essilor International, Hoya Corporation, Indo Internacional, S.A., Luxottica Group S.p.A., Oakley Inc., Safilo Group S.p.A., and TEK Optical Canada

The report titled "Eyeglasses: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of the industry, key market trends, issues, profiles of major players, and recent industry activity. The report provides market estimates and projections for eyeglasses in terms of annual unit sales (in million units) and annual dollar sales (in US$ million) for product groups - Lenses, Frames and Sunglasses by geographic regions - US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe) Asia-Pacific, Latin America and Rest of World. The unit analytics for product groups is further classified by material type - Lenses (Glass Lenses, Plastic Lenses and MHI & Polycarbonate), Frames (Metal, and Plastic) and Sunglasses (Premium-Priced and Popular-Priced). Lenses market is also analyzed in unit terms by design type as Single Vision Lenses, Bifocal Lenses and Progressive Addition Lenses.

For more details about this comprehensive market research report, please visit -
http://www.strategyr.com/Eyeglasses_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
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