New York, June 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Optical Goods Stores Global Market Report 2023" - https://www.reportlinker.com/p06464220/?utm_source=GNW
Ltd., Zenni Optical Inc., Warby Parker, Silhouette Group, Rodenstock GmbH, and Marcolin.
The global optical goods stores market is expected to grow from $61.53 billion in 2022 to $65.91 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The optical goods stores market is expected to reach $80.67 billion in 2027 at a CAGR of 5.2%.
The optical goods stores market includes revenues earned by entities by providing eye exams, glasses repair, adjustments, and home delivery services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Optical goods stores are locations where customers can purchase eyeglasses and frames. The optical goods stores sell any number of different products, including eyeglasses, sports eyewear, and safety and protection eyewear.
North America was the largest region in the optical goods stores market in 2022. The regions covered in optical goods stores report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of optical goods stores include spectacles, sunglasses, and contact lenses.Spectacles consist of two lenses in a frame, which some individuals wear in front of their eyes to improve their vision.
They are used by men, women, and unisex genders and are distributed through e-commerce and brick-and-mortar channels.
The increasing prevalence of ocular diseases is expected to propel the growth of the optical goods store market going forward.Ocular disease refers to any disease or problem that impairs the eye’s capacity to operate normally and/or has an adverse effect on the eye’s ability to see well.
Optical goods stores offer eyewear products that help lower the strain that fatigue-related eyestrain places on the eyes.Moreover, they can prevent or treat several eye conditions and vision-related issues, including myopia and hypermetropia.
For instance, in October 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, at least 2.2 billion people worldwide suffer from near- or distance vision impairment. At least 1 billion of these instances, or almost half of all occurrences, entailed vision loss that was either preventable or was not addressed. Therefore, an increasing prevalence of ocular diseases is driving the growth of the optical goods store market.
Technology advancement is a key trend gaining popularity in the optical goods store market.Major companies operating in the optical goods store market are focused on developing new technological solutions to strengthen their position.
For instance, in 2020, Johnson & Johnson Vision Care, Inc., a US-based eye health institute, launched ACUVUE OASYS MAX 1-Day MULTIFOCAL contact lenses and the ACUVUE OASYS MAX 1-Day contact lenses for presbyopia. TearStable Technology and an OptiBlue light filter were used to create an unheard-of mix of innovative technologies to assist fulfill the demands of digitally intensive lives. For superior all-day comfort, TearStable Technology is created to maximize tear-film stability and seal in moisture. The OptiBlue light filter reduces light scatter for remarkable visual clarity from day to night by having the highest level blue-violet filter in the business, at 60%. Additionally, ACUVUE OASYS MAX 1-Day lenses completely filter UVB and 99.9% of UVA radiation.
In July 2021, Essilor Luxottica, a France-based eyewear company that offers the design, production, and distribution of eyeglasses, frames, and lenses, acquired a 76.72% ownership interest in GrandVision from HAL Optical Investments for an undisclosed amount. This acquisition will boost Essilor Luxottica’s position in the eyeglass industry and increase its retail stores. GrandVision is a Netherlands-based company served by optical retailing’s high-quality, inexpensive eye care services.
The countries covered in theoptical goods stores market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The optical goods stores market research report is one of a series of new reports that provides optical goods stores optical components market statistics, including optical goods stores optical components industry global market size, regional shares, competitors with optical goods stores optical components market share, detailed optical goods stores optical components market segments, market trends and opportunities, and any further data you may need to thrive in the optical goods stores optical components industry. This optical goods stores optical components market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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